Global Watch Leader E. Gluck Corporation Acquires Controlling Interest in Leading Wearable Technology Accessories Company WITHit
NEW YORK, March 23, 2021 – E. Gluck Corporation, a leader in the global watch industry for over 65 years, announced today it has formed a strategic partnership with WITHit, a Las Vegas-based wearable technology accessories designer and manufacturer.
“In WITHit, E. Gluck Corporation has found a younger version of itself. A company driven and guided by its core values and a relentless dedication to customer satisfaction,” said Bobbie Weichselbaum, CEO of E. Gluck Corporation. “We are excited on a corporate level to be joining forces and even more so, to having these incredible individuals joining our EGC family.”
“On the surface, this deal is simply about two companies forging a bond to build a great business together,” said Adam Gelnick, CFO E. Gluck Corporation. “In actuality, it is a group of incredible individuals with complementary expertise, joining together to create a sum that is greater than its individual parts. This is an ideal that both groups aspire to and together we will hopefully achieve.”
Founded in 2004, WITHit has amassed a loyal following of consumers attracted to the brand’s style, comfort, performance and durability — particularly when it comes to wearable technology device bands and protection. WITHit has become one of the largest wearable tech accessory manufacturers in the U.S. WITHit is also a leading supplier of reading accessories, with a complete line of reading lights and magnifiers. Its products are sold in over 8,500 U.S. retail stores.
With over 500 million wearable devices in use globally, the acquisition provides international and domestic growth opportunities for both E. Gluck and WITHit and will enable E. Gluck to expand its addressable market, offering both traditional timepieces and fashionable wearable tech accessories.
Anticipating tremendous future growth in the global smartwatch market, E. Gluck’s acquisition positions the WITHit brand for expansion by providing access to untapped distribution channels, international expansion opportunities, as well as operational synergies, scale and marketing.
“We are extremely excited to have this opportunity to continue our growth trajectory with E. Gluck,” said David Nelson, CEO of WITHit. “Not only are our companies complementary from a pure business perspective, but E. Gluck and WITHit share core values and culture that make this combination special.”
“We could not have imagined a better strategic partner than E. Gluck,” said Phil Grandinetti, CCO of WITHit. “Together, we are in an even stronger position to provide our customers around the world with innovative products.”
WITHit’s COO Bill Devaney echoed these sentiments: “Bobbie, Adam Gelnick and the entire team at E. Gluck have been amazing throughout this process and we are thrilled to become part of the family.”
East Wind Advisors (www.eastwindadvisors.com) and Vinson & Elkins advised E. Gluck Corporation on the transaction. Consensus (www.consensusadvisors.com) and Strategic Law Partners advised WITHit on the transaction.
ABOUT E. GLUCK CORPORATION:
Founded over 65 years ago, E. Gluck Corporation is a major force in the watch industry — manufacturing, bringing to market and shipping timepieces worldwide. Brands include Armitron, Anne Klein, Torgoen, Badgley Mischka, Juicy Couture, Nine West and Vince Camuto. E.Gluck’s design and production acumen, global distribution capabilities and strategic retail experience allow for ultimate efficiency in a fluid marketplace. Please visit our website at egluck.com.
ABOUT WITHit:
WITHit designs, manufactures and curates accessories that make wearable tech and reading experiences better. WITHit specializes in rapid development of creative product designs using a wide variety of techniques and materials allowing it to keep pace with quickly evolving technological advancements and customer trends. WITHit currently holds more than 30 patents and makes products under license for Star Wars, Disney, French Bull, Dabney Lee and Peanuts. Please visit our website at withitgear.com.