Seligman & Latz
Founded : 1911
Activities : Fine Time Pieces and Jewelry
Parent Company : Grand Metropolitan
Stockists : 500 locations
Origin : 119 West 57 Street
New York, NY 10019
Founded as Seligman & Latz in 1911, the company’s original focus was the operation of beauty salons, also under a lease arrangement with department and specialty stores. Jewelry sales were soon added to the company’s portfolio, and by 1942, the company opened its first leased Finlay Fine Jewelry department.
By 1960, Seligman & Latz operated in more than 50 locations, generating nearly $170 million in revenues. The operations were conducted through its wholly owned subsidiary, Finlay Fine Jewelry Corporation. The merchandise categories include diamonds, gold, gemstones, watches and designer jewelry, including necklaces, earrings, bracelets, rings and watches.
In 1978, jewelry provided less than $75 million of Seligman & Latz’s $208 million in revenues. Four years later, Seligman & Latz’s revenues swelled to $304 million; much of this growth was provided by the company’s Finlay division, which had doubled in size, to $145 million in sales. The beauty division, meanwhile, had grown more slowly during this period, from $133 million in 1978 to $159 million in 1982.
Together, the two divisions operated in more than 100 leading department store and specialty groups in ten countries, with Macy’s providing the largest–13.8 percent–of the company’s revenues, closely followed by Associated Dry Goods, May, and Gimbel Bros.