Enesco (Enesco, LLC) is an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

company specializing in the sales and distribution of giftware. The company was known as an industry leader as it carried the Precious Moments porcelain figurine line of products during the 1970s, 1980s, and 1990s.

History

In 1958, Enesco was the import division for the N. Shure Company. Enesco was founded by its first President, Louis R. "Bob" Miller, Jr. When N. Shure was sold to

Butler Brothers Butler Brothers was a retailer and wholesale supplier based in Chicago. It was founded in 1877 as a mail-order company by Charles Hamblet Butler, George Henry Butler, George H. Butler and Edward Burgess Butler. History In the 1920s, Butler Brothe ...

, the import division was spun off. The name "Enesco" was an acronym from the N. Shure company, "N S Co", and phonetically named his company "EnEsCo". Thereafter, the company was sold three times, and in 1983 became a part of Stanhome, Inc. After separating from Stanhome in 1998, Stanhome immediately collapsed—leaving Enesco with all of Stanhome's assets. Enesco is known in its industry for its 25 years of success with the Precious Moments porcelain figurine line of products. Freedman worked with original artist,

Sam Butcher Samuel "Sam" John Butcher (born January 1, 1939) is an American artist. He is mainly known as the artist behind the Precious Moments, Inc., Precious Moments brand of characters based on American-Christianity, Christian themes. He draws in oil, w ...

, to bring his designs to market. The company sales soared throughout the '70s, '80s, and '90s until its peak in 1997. By 2004, Enesco, Corp. posted an operating loss of $15.7 million US dollars. The sales of Precious Moments items plunged from a high of $206 million in 1996 to $55.7 million in 2004, a drop of $27.5 million from 2003. According to Enesco's 2004–2005 annual report, "Precious Moments revenues represented 22% of consolidated net revenues in 2004 compared to 33% in 2003." In 2005 Enesco ended its business partnership and license arrangement with Precious Moments, Inc. In 2006, a year after the departure of Precious Moments, Enesco's fourth president, Cynthia Passmore-McLaughlin (formerly of

Revlon Revlon, Inc. is an American multinational company dealing in cosmetics, skin care, fragrance, and personal care. The headquarters of Revlon was established in New York City on March 1, 1932, where it still remains. Revlon was founded by brothe ...

) resigned. Enesco's stock price fell below and was delisted from the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

. After a few months of

over-the-counter trading Over-the-counter (OTC) or off-exchange trading or pink sheet trading is done directly between two parties, without the supervision of an exchange. It is contrasted with exchange trading, which occurs via exchanges. A stock exchange has the ben ...

, Enesco withdrew its public offering altogether. On January 12, 2007, Enesco filed for

Chapter 11 Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...

protection. In February 2007, Enesco Group, Inc. was purchased by

Tinicum Capital Partners Tinicum is the name of two townships in Pennsylvania: * Tinicum Township, Bucks County, Pennsylvania * Tinicum Township, Delaware County, Pennsylvania The name is also associated with the John Heinz National Wildlife Refuge at Tinicum The John ...

and became Enesco, LLC. Balmoral Funds, a Los Angeles-based private equity fund acquired Enesco, LLC in 2015.

Spin Master Spin Master is a Canadian multinational toy and entertainment company that markets consumer products for children. Its brands include '' Bakugan'', Gund, Etch A Sketch, Meccano/ Erector, Air Hogs, ''PAW Patrol'', Aquadoodle, Tech Deck, Hatch ...

acquired the

Gund Gund is a Canadian-owned manufacturer of plush stuffed animals. The company is based in Edison, New Jersey, and distributes throughout the United States and Canada as well as in Europe, Japan, Australia, and South America. Gund is currently ru ...

business from Enesco in 2018

References

{{reflist, 30em

External links

Enesco Corporation official site
Companies based in DuPage County, Illinois Itasca, Illinois Distribution companies of the United States Business services companies established in 1958 1958 establishments in Illinois Companies that filed for Chapter 11 bankruptcy in 2007 2015 mergers and acquisitions