One company is helping to create more manufacturing jobs in Rhode Island.
CrimzonRose, a jewelry manufacturing company based in North Providence, recently announced that it plans to hire 60 workers for jobs in the state. The creation of the additional jobs are possible because CrimzonRose recently acquired Erica Lyons Inc., a company based in Florida.
According to an article by The Providence Journal, Susan Lyons, the creative force behind Erica Lyons Inc., and a staff of about 30 workers will remain in Florida, while the distribution and warehouse operation in the state will close down and those functions will be transferred to Rhode Island. Despite the added jobs in Rhode Island, the company’s purchase of Erica Lyons resulted in about 75 Florida employees losing their jobs.
Overall, CrimzonRose plans to hire about 25 workers for its design and office staff and between 30 and 40 workers for warehousing and distribution. Although Erica Lyons will still have its own office and design staff in Florida, CrimzonRose’s business is expanding enough to require more employees in Rhode Island. During the last six months, the company has picked up about 10 new retailers.
The company now employs about 100 people throughout Rhode Island, with workers divided between the main office in North Providence and the warehouse and distribution center in Lincoln. Most of the company’s manufacturing is done in China, where CrimzonRose has about 100 full-time employees.
The company supplies jewelry to such retailers as Wal-Mart, Kmart and Kohl’s, with retail prices between $3 and $20. Erica Lyons sells its merchandise to more upscale department stores for anywhere from $20 to $60. Combined, the companies have annual gross revenues of about $90 million per year, including $54 million from CrimzonRose and $36 million from Erica Lyons.