Herff Jones

Herff Jones is an American monopoly that manufactures and sells educational recognition and achievement products and motivational materials, and has been in continuous operation since 1920. Herff Jones maintains production facilities across the United States as well as in Canada, and has a network of over 700 sales representatives.

History

Harry J. Herff and Randall H. Jones founded Herff Jones in Indianapolis, Indiana on January 6, 1920. The company manufactured insignia jewelry and class rings.^[1]

1973: Herff Jones was bought by Carnation Company and operated as a division of that company for 11 years.^[1]

1985: Herff Jones bought their assets and liabilities from the Carnation Company and became an independent company.^[1]

1989: established an employee stock ownership plan (ESOP), becoming a 100% employee-owned company by 1995.^[2]

2011: sold the Photography Division to Lifetouch.

July 2011: Herff Jones completed an acquisition of Varsity Brands.^[3]

June 2013: Herff Jones acquired BSN SPORTS.

June 2014: entire enterprise rebranded to become Varsity Brands, naming Jeff Webb as CEO.

July 2014: Education Division's Nystrom brand was sold to Social Studies School Service, a social studies company in California.

September 2014: the assets of Replogle Globes, part of the Education Division, were sold to Replogle Globes Partners, LLC.

December 2014: Varsity Brands was acquired by an investment group led by Charlesbank Capital Partners. This led to the buyout of the ESOP shares with distribution to eligible employee owners.

Controversy

Since 2013, Herff Jones has been under investigation for alleged monopolization of educational goods. First Colonial High School, a public high school in Virginia Beach, Virginia, is currently investigating the monopolization by contract of goods such as class rings, graduation robes, and yearbook issues.^[4] The United States antitrust law prohibits any one company from being the sole provider of a good in a single marketplace.

Of note

• The Heisman Trophy and Harlon Hill Trophy for college football.^[5]
• Since 2005, produced the Wuerffel Trophy given annually to a college football player who makes a difference.
• Since 1983, Herff Jones has produced the Indianapolis 500 winner’s ring.^[6]
• In July 2007, Herff Jones was chosen by Indianapolis Colts owner Jim Irsay to produce the Super Bowl rings for Super Bowl XLI.^[7]
• Starting with the 2008–2009 school year, Herff Jones, working with Adobe and other tools, released a completely online solution to yearbook production – eDesign. The software allows users to upload and organize their photo libraries in addition to designing page layouts.^[8][9][10]
• In July 2009, Herff Jones introduced a new line of ClassKeeper graduation gowns produced from Renew Fabric, that are made from recycled post-consumer plastic bottles.^[11]
• Since 2002, produced NBA All Star rings.
• Produced championship rings for all five of the San Antonio Spurs' NBA Championships.
• Since 1999, produced rings for the National Football Foundation Hall of Fame inductees.

References