The best-selling wedding supply company B&H is announcing plans to close a factory in Massachusetts.
The company is in talks to move the plant to a new site in Massachusetts and to close all of its production facilities in the state.
“We have recently engaged with our manufacturing partners to explore the possibility of opening a manufacturing facility in Massachusetts to support the growth of our business,” B&s spokesman Andrew Sexton told the Globe.
“While the company has not reached any definitive plans, we have decided to suspend our planned manufacturing operations in Massachusetts.”
The company has been in the manufacturing business for nearly 100 years.
B&h is now the world’s largest wholesale wedding supply chain.
The firm has been making wedding bands, bracelets, rings, and other jewelry for over 40 years.
It also makes custom-designed, custom-made wedding rings for bridesmaids and groomsmen, as well as rings for other weddings.
The Massachusetts plant would be a major investment for the company, which has struggled to compete with its cheaper rivals.
BH also recently announced it would move its manufacturing operations to China and to move some production to Brazil.
The move was widely seen as a bid to grow its business and expand its manufacturing footprint in Asia.
“This decision was a reflection of our continuing focus on the growing demand for custom-built wedding bands,” Sexton said in a statement.
B &h is already losing ground to rivals like Craftsy and Saks Fifth Avenue.
In 2015, it lost out to competitors like the $100 price tag of a wedding band from Bridal Boutique, a $50 wedding ring from Bridesmaid Designs, and a $300 wedding band by Bridal.
“Our manufacturing business has struggled in recent years,” B &h CEO James Leventhal told the Boston Globe last year.
“The growth in the wedding market is not a good match for us.”
The B&H plant, located in South Boston, is the first of its kind in the United States.
It will create around 5,000 jobs, Sexton noted.
“With our existing facilities, we will be able to bring back some of our workforce and also create additional jobs in other locations,” he added.
The new factory will bring the company’s annual revenue to about $1.7 billion.
The Boston Globe reported that the company was looking for a new location in Massachusetts because of the cost of living there, as Boston is a pricey city to produce goods in.
Sexton says that B & h will still make products for bridal and other events, but that they are going to be focused on “traditional wedding and engagement” products.