NEW YORK — Fred Leighton, purveyor of estate jewels to the rich and famous, has a new owner of its own to chime about.
Ralph Esmerian, a fourth-generation fine jewelry dealer, has acquired the 35-year-old jewelry company in cooperation with lending partner Global Asset Based Finance Group, a division of Merrill Lynch, for an undisclosed sum.
Leighton, who changed his name from Murray Mondschein years ago, brought vintage fine jewelry pieces to the forefront of fashion at a time when it was customary for jewelers to break apart old pieces for reuse of the material. Throughout his career, Leighton sought out pieces ranging from Victorian diamond jewelry to Art Deco wares for his 2,000-square-foot Madison Avenue emporium. In 1998, the jeweler opened a second, 1,800-square-foot location in The Bellagio in Las Vegas.
Leighton’s jewelry also has been seen on the necks, ears and wrists of Hollywood’s most famous actresses and musicians, including Nicole Kidman, Elizabeth Taylor and Madonna, while Miuccia Prada is an admirer and, in 2003, displayed and sold Leighton estate pieces in Prada’s Epicenter store in SoHo in New York.
“[Leighton] of all the retailers in terms of vintage jewelry, reached the world; he caught everyone’s attention,” said Esmerian. “He brought it to everyone’s attention. It used to be that you got a piece of jewelry from your grandmother and you brought it directly to the auction house — you never wore it. Now people have a feel for the old stuff.”
Esmerian plans to open a second location in Las Vegas and next year will add a boutique in Beverly Hills. There are also plans to grow Leighton’s now-small eponymous watch collection as well as his signature jewelry line, which includes a wide selection of diamond engagement rings.
Leighton will continue to consult on new jewelry purchases, jewelry sales and new product development. Director of publicity Rebecca Selva, who is the celebrity liaison and has been with the firm for 12 years, will retain her title.
“[Leighton’s] success has a great deal to do with the fact that he has an individual personal taste that gets transmitted through his store,” said Esmerian. “There’s such a personal element involved,” he added. “Hopefully the luxury market will keep up and prove to be fruitful for us.”