LENEXA, Kan. – A Lenexa-based jewelry company that was one of the Kansas City area’s more successful startups has announced plans to close.
Silpada Designs Inc. says its business model that involved jewelry-sales parties hosted at home has become outdated. The company said women increasingly work outside the home, making sales parties more difficult to host than when Silpada formed in 1997.
Andrea Carroll, the company’s vice-president of design, product development and marketing, told The Kansas City Star (http://j.mp/1sRu1VX ) no particular event triggered the board’s decision Tuesday to halt its business.
The retailer grew to become one of the largest party-planning sellers of sterling silver jewelry in North America. It was acquired by Avon Products in 2010 for $650 million but was reacquired by the founding families in 2013.
Information from: The Kansas City Star, http://www.kcstar.com