In a move to distance itself from the downward trend in the collectibles market, leading gifts producer Enesco is ending its 27-year agreement to market the Precious Moments Collection to consumers worldwide.

Precious Moments Inc. (PMI), a Chicago-based family-owned company, will assume product development, sales and distribution of the collection, based on the artwork of Sam Butcher. The transition of Precious Moments business, including two Precious Moments Collector Clubs with approximately 100,000 members, to PMI is ongoing through Dec. 31.

Enesco, whose original Precious Moments license agreement was to expire on Dec. 31, 2007, will continue to distribute the line to its retail outlets until Dec. 31, 2005, and provide transitional services to PMI through the end of 2006. At that time, PMI will assume all responsibilities of the Precious Moments Collection, including bisque figurines and giftware products.

Cynthia Passmore-McLaughlin, president and CEO of Enesco, called the decision to move the Precious Moments business to PMI an “important positive step” to ensure future growth in the gift and home/garden décor categories. “While Precious Moments has been able to weather the decline in the collectible figurine category longer than many collectible brands, the current sales levels and the royalty agreement were pressuring our operating margins,” she said.

Full story to appear in the Sept. 19 issue of Christian Retailing.

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