Company Pays $210K for Henry Dunay Name
March 21, 10
A company called Sandawana Holdings has paid $210,000 for the intellectual property of jewelry design company Henry Dunay Designs, the company founder confirmed.
Dunay's intellectual property, purchased by Sandawana at auction Thursday in New York, includes the Henry Dunay name, Web site, models, molds and tools.
The company's founder and namesake Henry Dunay told National Jeweler that he does not know much about the company or what its plans are following the purchase.
The remainder of Dunay's inventory was sold at auction back in December, with liquidation specialists SimplexDiam and online estate jewelry seller Windsor Jewelers emerging as the two top bidders.
Together, the companies paid $3.5 million for the high-end designer's inventory, valued at $50 million.
Once one of the industry's top designers, with a star-studded list of clientele that included the likes of Oprah Winfrey and Tom Cruise, Dunay filed for Chapter 11 bankruptcy protection in June, beginning his last chapter in the history of a company launched in 1965.
The designer has said he plans to remain in the jewelry industry but will operate on a smaller scale, creating custom orders and special pieces. As of Friday, Dunay said he did not know exactly what his next step would be.
"I need time to think about where I'm going and take a breath of fresh air," he said.