Apr 23, 2015

Heartstrings acquired by Grace Management Group, expansion coming

Grace Management Group diversifies its brand portfolio with a strategic investment in Heartstrings, a manufacturer and marketer of personalized jewelry and gifts located in Auburn, Alabama. As a privately held family-owned and -operated company, Grace Management Group has traditionally specialized in home fragrance products through its four distinct brands: Greenleaf, Bridgewater Candle Co., Votivo and WillowBrook, which are all housed in Spartanburg, South Carolina.

“We are excited to announce our expansion beyond fragranced products through this strategic investment in Heartstrings, whose product line spans multiple categories including: jewelry, fashion accessories, kitchen, barware, baby, soaps, candles and other traditional gift items,” said Bob Caldwell, Jr., Grace Management Group’s president. “We were drawn to Heartstrings because of its unique business model, which allows a retail store to offer highly personalized products to customers without having to carry inventory or purchase and manage engraving or embroidery equipment.”

The model lends itself to a simplistic set up for the retailer and quick turnaround for the end consumer. Retailers simply purchase samples of a product category for display. Consumers select a product and the personalization desired, and the order is submitted to Heartstrings. The personalized product then ships to the retailer or drop ships to the consumer within 24 to 48 hours.

“We were astounded at the success Heartstrings has achieved and the loyalty of its customer base even though it has never had an outside sales force,” said Caldwell. “We are very excited about the future potential for Heartstrings as we include it into the portfolio of brands sold through our Grace Direct sales force. We will be expanding our nationwide sales force through the hiring of six additional territory managers.” An expansion of the product development team is also planned.

Any interested applicants should direct resumes to jobs@gracemg.com

Heartstrings operations will remain in Auburn, Alabama, with Caldwell serving as chairman. Reginald Greiner will remain CEO of Heartstrings, and Robert Newell will continue in his current role as CFO and president. Ron Waugh will serve as vice president of operations.