AEG Acquires E. Gluck, Forging Watch Industry's New Wholesale Giant

NEW YORK, NY – February 17, 2026 – In a landmark move set to reshape the fashion accessories landscape, American Exchange Group (AEG) has acquired the assets of the venerable watchmaker E. Gluck Corporation. The deal culminates in the formation of E. Gluck Holdings LLC, a new entity poised to become the largest and most influential wholesale fashion watch and jewelry company in the industry. The transaction unites AEG's formidable global distribution and multi-category expertise with E. Gluck's deep-rooted heritage and brand equity.

This strategic consolidation creates a powerhouse portfolio that includes renowned owned brands like Armitron, Torgoen, Danecraft, and the tech-focused iTOUCH. The new company will also continue its role as a key manufacturing and design partner for leading fashion labels, producing watches and jewelry for brands such as Anne Klein, Nine West, Vince Camuto, and Steve Madden. The move signals a major shift in the market, creating a single entity with unparalleled scale and reach.

A New Titan in Timepieces

The formation of E. Gluck Holdings LLC is being hailed as a transformational moment for the industry. By merging E. Gluck's strong presence in department stores and mid-tier retail with AEG’s expansive network and operational prowess, the new company aims for nothing short of retail dominance. American Exchange Group, known for its diverse portfolio spanning footwear, handbags, beauty, and home goods, brings a powerful engine of global sourcing and multi-channel distribution to the partnership.

“This acquisition represents a transformational moment for our organization and for the watch industry,” said Alen Mamrout, CEO of American Exchange Group, in a statement. “By combining [E. Gluck's] legacy with American Exchange Group’s scale, category expertise, and global distribution network, we are creating an unparalleled platform for growth.”

The strategic vision, as outlined by company leadership, is clear: leverage combined strengths to accelerate sales, expand market share, and drive innovation across all brands. The integration is expected to unlock significant synergies, positioning the new holding company to lead in both traditional timepieces and the rapidly evolving wearables sector.

“Strategically, this acquisition brings together two highly complementary organizations to create a category-defining leader," added Steve Velasquez, Chief Strategy Officer of American Exchange Group. He emphasized that the combination of E. Gluck's brand equity and AEG's operational scale “unlocks significant synergies” that will fuel long-term growth for retail partners.

A Legacy Forged in Resilience

Beyond the balance sheets and market projections lies a profound human story that forms the very foundation of the E. Gluck name. The company was founded in 1956 by Eugen Gluck, a man whose life was a testament to the power of the human spirit. A survivor of the Holocaust, Gluck immigrated to New York City with his wife, Jean, carrying a vow he made amidst unimaginable horror: “I’m going to survive this. And I’m going to show you how human beings are supposed to treat each other.”

He fulfilled that promise, building a watch business from the ground up through relentless determination and a steadfast commitment to integrity. His company grew into an industry leader, shaping American retail trends for decades. This legacy of resilience and ethical conduct was a non-negotiable factor in the recent acquisition.

Bobbie Weichselbaum, Eugen Gluck’s daughter and the newly appointed President of E. Gluck Holdings LLC, will steward that legacy. “My father built this company on resilience, integrity, and a deep belief in treating people the right way,” she stated. “It was essential for us to find a partner who shares those values. American Exchange Group is exactly that partner. This integration ensures that the spirit and mission my father established will not only continue but thrive on a much broader platform.”

The Strategic Calculus of Consolidation

While the merger celebrates a rich heritage, it is also a shrewd business maneuver executed against a complex market backdrop. The global fashion accessories market is a behemoth, valued at nearly $800 billion in 2024 and projected to grow robustly. Within this space, the watch and jewelry segment commands a significant share, making it a highly competitive and lucrative arena.

However, the path to this acquisition includes a critical detail that underscores its strategic nature. E. Gluck Corporation filed for Chapter 11 bankruptcy protection in December 2025, reportedly following challenges in the smartwatch market. This context reframes the transaction not merely as a merger of equals, but as a strategic acquisition by AEG of a historically significant and brand-rich company that was facing financial distress. For AEG, it represented a timely opportunity to acquire a portfolio of respected brands and deep retail relationships, breathing new life and operational strength into a company with an invaluable legacy.

This move allows AEG to significantly bolster its position in the estimated $59 billion U.S. jewelry and watch wholesaling market. By integrating E. Gluck’s assets, AEG is not just expanding its portfolio but is strategically absorbing a competitor's market share and infrastructure, aiming to create efficiencies and a more powerful competitive posture against other major players like Fossil Group and Swatch Group.

Charting the Future of Fashion and Tech

Looking forward, the newly formed E. Gluck Holdings LLC is uniquely positioned to navigate the convergence of fashion, tradition, and technology. While honoring the classic appeal of brands like Armitron and Anne Klein, the inclusion of iTOUCH in its portfolio signals a clear intent to compete and innovate in the connected wearables space. This dual focus allows the company to cater to a wide spectrum of consumers, from those seeking a timeless fashion accessory to those demanding the latest in smart technology.

The merger combines E. Gluck's product innovation heritage with AEG's proven ability to bring a wide array of products to market quickly and efficiently. This synergy is expected to accelerate the development of next-generation wearables that are both technologically advanced and stylistically relevant. As the lines between a watch, a fitness tracker, and a fashion statement continue to blur, E. Gluck Holdings LLC has assembled the brand portfolio and operational backbone to lead the evolution of the modern accessory. The industry will be watching closely as this new giant begins to leverage its combined strength to define the future of what people wear on their wrists.