SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, DC 20549
                            -----------------
                                FORM 10-Q
(Mark One)

 X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT  OF 1934

     For the quarterly period ended     March 31, 1999

                                    OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT  OF 1934

     For the transition period from ________ to _________

                Commission file number   1-5354

                              SWANK, INC.
       (Exact name of registrant as specified in its charter)

  Delaware                                         04-1886990
 (State or other jurisdiction                   (IRS employer
  of incorporation or organization)              identification Number)

6 Hazel Street, Attleboro, Massachusetts               02703
(Address of principal executive offices)          (Zip code)

Registrant's telephone number, including area code 508-222-3400

Former name, former address and former fiscal year, if changed
since last report.

     Indicate by X whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days  Yes X  No __

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
            PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

     Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court:

                             Yes ___      No ___

                   APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares outstanding of each of the
issuer's classes of common stock as of the latest practicable
date:

Title of Class                    Shares Outstanding on April  30, 1999
Common stock, $.10 par value                       16,569,423


                               SWANK, INC.
                       PART I - FINANCIAL STATEMENTS
   Item 1.  Financial Statements.CONDENSED CONSOLIDATED BALANCE SHEETS 
                               (UNAUDITED)
                          (Dollars in thousands)


                                       March 31, 1999     December 31, 1998
          ASSETS                                                 
Current:                                                         
  Cash and cash equivalents                   $   306               $  757
  Accounts receivable, less                                      
allowances
    of $8,435 and 9,041                        19,553               14,756
  Inventories                                                    
          Raw materials              $7,782              $7,028    
          Work in process             7,952               7,337    
          Finished goods             24,460    40,194    26,819     41,184
  Deferred income taxes                         4,069                4,069
  Prepaid and other                               970                  967
                                                                 
          Total current assets                 65,092               61,733
                                                                 
                                                                 
Property, plant and equipment, at    27,845              26,932    
 cost
    less accumulated depreciation    21,702     6,143    21,358      5,574
     and amortization
Other assets                                    6,008                5,662
                                                                 
  Total assets                                $77,243              $72,969
                                                                 
          LIABILITIES                                            
Current:                                                         
  Notes payable to banks                      $21,761              $15,321
  Current portion of long-term                    242                  242
   debt
  Accounts payable                              5,485                5,770
  Accrued employee compensation                 3,517                4,775
  Income taxes payable                            508                1,888
  Other current liabilities                     3,895                4,232
                                                                 
          Total current                        35,408               32,228
           liabilities
                                                                 
Long-term obligations                           9,918                9,563
                                                                 
          Total liabilities                    45,326               41,791
                                                                 
Minority Interest in consolidated                 608              
 subsidiary
                                                                 
          STOCKHOLDERS' EQUITY                                   
Preferred stock, par value $1.00                                 
  Authorized 1,000,000 shares                                    
Common stock, par value $.10                                     
  Authorized 43,000,000 shares:                                  
    Issued 16,902,942 and                       1,690                1,689
     16,887,942 shares
Capital in excess of par value                    926                  913
Retained earnings                              29,399               29,285
Accumulated other comprehensive                     3              
income
                                               32,018               31,887
Treasury stock, at cost,                         (709)                (709)
 333,519 shares
          Total stockholders'                  31,309               31,178
           equity
                                                                 
Total liabilities and                         $77,243              $72,969
 stockholders' equity
                                                                 

The accompanying notes are an integral part of the condensed
consolidated financial statements.
 
 
                               SWANK, INC.
        CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
            FOR THE QUARTERS ENDED MARCH 31, 1999 AND 1998
             (Dollars in thousands except per share data)
                   ---------------------------------

                                       
                                                    1999         1998

Net Sales                                      $  37,199     $ 33,630

Cost of goods sold                                23,144       19,485

Gross profit                                      14,055       14,145

Selling and administrative expenses               13,684       12,571

Income from operations                               371        1,574

Interest expense, net                                348          248

Income before income taxes and minority               23        1,326
 interest

Provision for income taxes                           (90)        (517)

Minority interest in loss of consolidated            182            0
 subsidiary

Net income                                         $ 115        $ 809
                                                           
Share and per share information:

Weighted average common shares outstanding    16,566,627   16,511,844

Net income per common share                        $ .01        $ .05

Weighted average common shares outstanding    16,889,216   16,748,913
 assuming dilution

Net income per common share assuming               $ .01        $ .05
 dilution

The accompanying notes are an integral part of the condensed
consolidated financial statements.

 
                              SWANK, INC.
     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
            FOR THE QUARTERS ENDED MARCH 31, 1999 AND 1998
                         (Dollars in thousands)
                            --------------

                                         
                                                1999         1998
Cash flow from operating activities:                     
                                                         
Net income                                     $ 115        $ 809
                                                         
Adjustments to reconcile net income                      
 to net cash used in operations:                         
                                                         
  Depreciation and amortization                  355          492
  Provision (recoveries) for bad debts            13         (404)
  Minority interest in net loss of              (182)    
   consolidated subsidiary
                                                         
Changes in assets and liabilities                        
   Increase in accounts receivable            (4,797)      (2,992)
   Decrease (Increase) in inventory            1,387       (1,491)
   Increase in prepaid and other                  (1)         (23)
   Increase in other assets                     (119)         (53)
   (Decrease) Increase in accounts payable    (1,916)        (693)
      and accrued liabilities
   (Decrease) Increase in income taxes        (1,380)         436
     payable
    Increase in long-term obligations            288          338
                                                         
               Net cash used in operations    (6,237)      (3,581)
                                                         
Cash flow from investing activities:                     
  Capital expenditures                          (361)        (203)
  Premiums on life insurance                    (227)        (326)
                                               
               Net cash used in investing       (588)        (529)
                activities
                                                         
Cash flow from financing activities:                     
                                                         
  Borrowing under revolving credit            21,971       18,023
   agreements
  Payments of revolving credit obligations   (15,531)     (13,237)
  Principal payments on long-term debt           (75)        (859)
  Proceeds from exercise of employee stock         9            5
   options
                                                         
               Net cash provided by            6,374        3,932
                financing activities
                                                         
  Net decrease in cash and cash equivalents     (451)        (178)
                                                         
  Cash and cash equivalents at beginning of      757        1,235
   period
                                                         
  Cash and cash equivalents at end of           $306       $1,057
   period



The accompanying notes are an integral part of the condensed
consolidated financial statements.


                             SWANK, INC.
Notes to Condensed Consolidated Financial Statements (Unaudited)


(1) The unaudited information furnished herein reflects all
    adjustments (consisting only of normal recurring adjustments)
    which are, in the opinion of management, necessary to present a
    fair statement of the results for the periods ended March 31,
    1999 and 1998.  The financial information contained herein
    represents condensed financial data and, therefore, does not
    include all footnote disclosures required to be included in
    financial statements prepared in conformity with generally
    accepted accounting principles. Certain amounts from previous
    periods have been reclassified to conform with the current
    presentation. Footnote information was included in financial
    statements included in the Company's 1998 Annual Report to
    Stockholders which was incorporated by reference in the Company's
    annual report on Form 10-K for the fiscal year ended December 31,
    1998.  The condensed financial data included herein should be
    read in conjunction with the information in the annual report.

(2) Effective January  8, 1999,  the Company acquired  65% of the
    shares of Joyas y Cueros S.A. de Costa Rica ("Joyas"), a newly
    formed corporation located in Cartago, Costa Rica in exchange
    for approximately $1.7 million in cash, equipment and
    inventory. The minority shareholder contributed approximately
    $.9 million in equipment and inventory.  Joyas presently
    manufactures women's jewelry and is initiating the manufacture
    of belts.  Substantially all of Joyas' revenue is derived from
    products manufactured for the Company and the results of
    Joyas' operations have been included in the Company's
    condensed consolidated financial statements from the
    transaction's effective date. The Condensed Consolidated
    Financial Statements include the accounts of Swank, Joyas and
    a wholly-owned foreign sales corporation. All significant
    intercompany amounts have been eliminated. Accumulated other
    comprehensive income arises from the effects of currency
    translation.

(3) During the three month period ended March 31, 1999, the
    Company has not incurred any material changes in commitments
    and contingencies set forth in Footnote I of the 1998 Annual
    Report to Stockholders.

(4) The following table sets forth the computation of net income
    per share for the quarters ending March 31, 1999 and March 31,
    1998 (in thousands, except for share and per share data):

                                                     Quarter 
                                                  Ended March 31,  
                                                 1999        1998
Numerator:                                                       
Net income                                      $ 115       $ 809
                                                                 
Denominators:                                                   
Shares used in computing net income per                         
  common share                             16,566,627  16,511,844
Effect of dilutive options                    322,589     237,069
Shares used in computing net income per    16,889,216  16,748,913
  common per share assuming dilution
                                                                             
Net income per common share                     $ .01       $ .05
Net income per common share assuming            $ .01       $ .05
  dilution                                        




Notes to Condensed Consolidated Financial Statements (Unaudited)
(continued)



(5) Segment Information (in  thousands):
                                                           Consol-
                                                           idated
                          Men's       Women's     Other    Total
1999
Revenue from
external customers        $22,000     $14,164    $1,035     $37,199
Segment profit(loss)         (186)        537      (146)        205

1998
Revenue from
external customers        $19,203     $13,373    $1,054     $33,630
Segment profit(loss)          625         852      (151)      1,326


(6) Effective January 1, 1999 the Company adopted the provisions
    of Statement of Position 98-1 "Accounting for the Costs of
    Computer Software Developed or Obtained for Internal Use" ("SOP
    98-1") which establishes criteria for capitalizing internal and
    external costs associated with software development.  SOP 98-1
    requires that the new accounting treatment be applied
    prospectively from the date of adoption.  During the quarter
    ended March 31, 1999, the Company capitalized software
    development costs pursuant to SOP 98-1 which had the effect of
    increasing income before income taxes by $50,000 and net income
    by approximately $30,500. Exclusive of the effects of this
    change, net income per share and net income per share assuming
    dilution would have been $.01 and $.00, respectively.


Item 2. Management's Discussion and Analysis of the Financial
        Condition and Results of Operations

Results of Operations


  As is customary in the fashion accessories industry, the
Company makes modifications to its lines coinciding with the
Spring (approximately January - June) and Fall (approximately
July - December) seasons. The Company believes that results of
operations are more meaningful on a seasonal basis than on a
quarterly basis.  The timing of shipments can be affected by the
availability of materials, retail sales and fashion trends. These
factors may shift  volume between quarters within a season
differently in one year than in another. Due to seasonality and
other factors, the results of the quarter are not necessarily
indicative of the results to be expected for the full year.


Net Sales

  Net sales for the quarter ended March 31, 1999 increased by
10.6% to $37,199,000 compared to $33,630,000 for the quarter
ended March 31, 1998.   Net sales of Men's Accessories increased
by $2,797,000 or 14.6%  and net sales for Women's Accessories
increased by $791,000 or 5.9%, both compared to the quarter ended
March 31, 1998.

  The increase in net sales of Men's Accessories was primarily
due to increased shipments of belts reflecting improved sales to
existing mass merchandising customers and spring shipments of the
Company's Claiborne for Men line, first shipped last summer.   In
addition, the Company commenced shipments of a new private-label
personal leather goods program during the quarter.

  Women's Accessories net sales increased during the quarter
principally due to initial spring shipments of the  Kenneth Cole
Women's jewelry line which was introduced last fall and to
increased sales of out-of-line merchandise compared to the
quarter ended March 31, 1998.

Gross Profit

  Gross profit for the quarter ended March 31, 1999 decreased by
$90,000 or less than 1% to $14,055,000 compared to $14,145,000
for the quarter ended March 31, 1998. Gross profit for Men's
Accessories increased by $100,000 and gross profit for Women's
Accessories  decreased by $180,000, both compared to the quarter
ended March 31, 1998.

  Gross profit expressed as percentage of net sales fell to 33.0%
for  Men's Accessories for the quarter ended March 31, 1999
compared to 37.3% last year. Gross profit expressed as percentage
of net sales fell to 43.8% for  Women's Accessories for the
quarter ended March 31, 1999 compared to 47.7% last year. The
decline in gross profit   in Men's Accessories  was primarily due
to an increase in product costs, partially attributable to a
reduction in favorable overhead variances, and to disposition of
excess and discontinued inventory at reduced margins. The decline
in gross profit  in Women's Accessories was primarily due to the
Company's share of start-up losses incurred by Joyas y Cueros de
Costa Rica, S.A. and to an increase in product costs, partially
attributable to a reduction in favorable overhead variances. The
Company reduced production at its domestic belt and jewelry
manufacturing facilities during the quarter in response to
current requirements for merchandise and to changes in product
sourcing.



Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations (continued)

  Customer returns through March 31, 1999 are within the estimates
utilized in establishing the allowance for returns as of December
31, 1998.  First quarter adjustments to the reserve in 1999 and
1998 include routine accruals for estimated returns on current
period sales and charges for actual returns received through
March 31.  The extent of the variance, if any, of actual 1999
returns from the allowance established at December 31, 1998 will
be finally determined during the second quarter and recorded at
that time.


Selling and Administrative Expenses

  Selling and administrative expenses increased $1,113,000 or
8.9% for the quarter ended March 31, 1999 to $13,684,000 from
$12,571,000 last year. The increase in selling expenses for the
quarter is principally due to increased sales commissions and
other variable costs associated with higher sales volume and to
planned increases in advertising and promotional costs. Total
advertising and promotional expenditures totaled 7.0% and 6.2% of
net sales for the quarters ended March 31, 1999 and March 31,
1998, respectively.  Administrative expenses for the quarter
ended March 31, 1999 increased compared to the same period in the
prior year primarily due to a non-recurring reduction in expenses
during the first quarter of 1998.  Selling and administrative
expenses as a percentage of net sales decreased to 36.8% for the
quarter ended March 31, 1999 from 37.4% last year reflecting the
higher sales volume.


Interest Expense

  Net interest expense increased $100,000 compared to the same
period in the prior year primarily as a result of  $78,000 in non-
recurring interest income recorded in the first quarter of 1998.
The effect on interest expense of  the increased borrowing levels
during the quarter ended March 31, 1999 was, for the most part,
negated by lower interest rates.


Provision for Income Taxes

  The Company recorded a provision for income taxes on
domestic pretax earnings for the quarter ended March 31, 1999 at
approximately the blended state and federal statutory rates.  No
income tax benefit is anticipated on the losses incurred by the
Company's Costa Rican subsidiary.  In the first quarter of 1998,
the Company recorded a provision for incomes taxes at an
effective rate of 39% which approximated blended state and
federal statutory rates.


Liquidity and Capital Resources

  The Company's working capital increased by $179,000 during
quarter ended March 31, 1999 compared to an increase of
$1,385,000 for the quarter ended March 31, 1998.




Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations (continued)

  As is customary in the fashion accessories industry,
substantial percentages of the Company's sales and earnings occur
in the months of September, October and November, during which
the Company makes significant shipments of its products to
retailers for sale during the holiday season. As a result,
receivables peak in the fourth quarter.   The Company builds its
inventory during the year to meet the demand for the holiday
season.  The required cash is provided by a revolving credit
facility.

  Cash used in operations for the quarter totaled $6,237,000
consisting primarily of increases in accounts receivable
balances, decreases in accounts payable and accrued liabilities
and a decrease in income taxes payable, offset in part by  a
reduction in inventory.  Accounts receivable increased $4,797,000
primarily due to increased sales during the quarter and to
seasonal reductions in allowances. Accounts receivable allowances
decreased due to actual charges processed for cash discounts, in-
store markdowns, cooperative advertising, and customer returns
primarily relating to 1998. These reductions are partially offset
by increases resulting from accruals associated with current
period sales activity.  Income taxes payable declined by
$1,380,000 after payments made during the quarter.  Inventory
levels fell by $1,387,000 reflecting the Company's efforts to
reduce inventory levels and dispose of excess and out-of-line
merchandise.

  Cash used in investing activities was $588,000 for capital
expenditures and insurance premiums. Cash provided by financing
activities totaled $6,374,000 consisting primarily of net
borrowings under the Company's revolving credit agreement.


Year 2000

  Management's present assessment is that the Company
will be able to modify  its  significant  software systems on a
timely basis to make them Year 2000 compliant without material
effects on the Company's business or results of operations. This
assessment is unchanged from that previously reported.

  Management has completed the identification of date
issues associated with key applications software and the
necessary modifications are, for the most part, complete. Most of
the Company's applications software was internally developed and
the necessary modifications have been and are being made
utilizing internal resources.

  Through consultation with its vendors the Company
believes that the operating systems for key hardware components
are Year 2000 compliant. Assessment of the Company's network is
substantially complete and various components have been
identified as requiring upgrades from vendors. The nature of
these is currently under consideration but the necessary changes
are expected to be completed by June 30, 1999.  Substantial
completion of testing is expected during the second quarter of
1999.

  The process of identifying potential issues associated
with embedded technology or so called non-IT systems has been
initiated.  Management has considered the Company's manufacturing
processes, the age of its facilities and the associated building
systems in determining that non-IT systems represent relatively
low risk.

  The Company's principal retail customers have been
extending the scope of their electronic interfaces with the
Company and management believes that this is likely to continue.
To date, these interfaces have consisted principally of sales
order entry transactions through Electronic Data Interchange
("EDI").  The Company has been able to respond to its customers'
Year 2000 requirements without material effects on the Company's
business or results of operations and management presently has no
reason to believe that the Company will not be able to continue
to do so.  The Company has installed Year 2000 compliant EDI
software.



Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations (continued)

  In September 1998, the Company implemented a program to
contact third parties with whom it has material business
relationships to obtain information and representations with
respect to the respective readiness of each for Year 2000.  Third
parties contacted include major customers, determined regardless
of whether there is an existing EDI relationship, major vendors
and suppliers of key services such as utilities,
telecommunications and banking. The Company has received
responses to most of these requests.

  Various third parties with whom the Company has material
business relationships have represented that they have programs
in place to attain Year 2000 compliance but with a completion
date in 1999. Since many of the Company's third party
relationships are with public companies the Company has
instituted a program to review their public filings with respect
to the Year 2000 issue. The most recent information which the
Company has reviewed is set forth in quarterly filings with the
Securities and Exchange Commission for September and October
1998.  These   filings reveal that, in general, the companies
were not currently Year 2000 compliant but that they expect to
achieve compliance sometime prior to the end of the third quarter
of 1999.  The Company will update this process in May following
the completion of the relevant year end filings.  Management has
determined that for the time being it is in the best interest of
the Company to periodically monitor the progress of key vendors
and suppliers by obtaining updated representations and/or by
review of their public disclosures, where available.  The Company
expects to assess each individual case in the third  quarter of
1999 in light of the information then available.

  With respect to material customers, management is relatively
less concerned about EDI transactions per se because of their
defined protocols, the utilization of generally available third
party translators and the ability to conduct mutual testing.
However,  there remains the risk that  EDI customers' may
experience other systems issues internal to them which disrupt
the functionality of otherwise Year 2000 compliant EDI systems.
A significant disruption in EDI processing could materially
impair the Company's shipments. Management has determined that,
for the time being, it is in the best interest of the Company to
periodically monitor the progress of key customers by obtaining
updated representations and/or by review of their public
disclosures (see above), where available. Major customers'
progress will be reassessed in the third and fourth quarters of
1999 and, if issues remain, management anticipates the ability to
ameliorate the problem, at least temporarily, through development
of mutually agreed strategies which might include some
acceleration of order placement during 1999. January and February
are typically important cash flow months as the Company's retail
customers remit payments for their seasonally high pre-holiday
purchases. Irrespective of EDI, it is possible that the ability
of one or more material customers to process payments may be
impaired.  Management believes that the existing revolving line
of credit will be adequate for a number of months in the event of
unanticipated delays in customer remittances.

  Presently, it is management's view that service providers
represent the greatest conceptual risk to material disruption in
the Company's operations. The Company is dependent upon utilities
and telecommunications entities for day-to-day operations as well
as upon the ability of its banks to provide cash receipts and
disbursements services as well as working capital. To the extent
that any of these entities are significantly impaired for more
than a relatively short period the corresponding impact on the
Company is likely to be material. Service providers are included
among the companies whose public filings the Company is reviewing
as described above.

   The Company has not yet developed a contingency plan and has
no definitive plans in this regard other than to quarterly
reassess the need to develop a formal plan during 1999. This
assessment will be based for the most part on the results of the
periodic monitoring of material third parties as described above
and the internal testing anticipated during the second quarter.
Management notes that relatively modest actions may be sufficient
to significantly reduce certain risks to the Company. For
example, if it appears warranted, management has the ability
prior to year end to accelerate procurement of inventories which
would otherwise take place in the first quarter.  In addition,
management believes that alternative sources of supply are
readily available for most of its purchased materials and
finished products and that relationships with such sources could
be developed within a few months. Management believes that the
Company's seasonality with reduced activity in the first quarter
provides something of a buffer against the worst case customer
and service provider scenarios. The Company's exposure to lost
revenue and the risk of reduction in its other activities will be
significantly less in the first quarter of 2000 than in the last
quarter of 1999. January will be the first month in a Year 2000
operating environment and January is historically a relatively
low volume month for the Company.

  As described above, most of the Company's applications
software was internally developed and the necessary modifications
have been and are being made utilizing existing internal
personnel resources. These resources are included in the
Company's recurring IT budget.  Management does not believe that
use of existing resources for Year 2000 remediation has been
materially detrimental to the completion of other significant IT
projects.  The Company has had to purchase specific Year 2000
upgrades with respect to certain third party software
applications. The aggregate cost of these upgrades through March
31, 1999 was approximately $75,000.  The Company' current
estimate for additional expenditures specifically required in
response to Year 2000  issues is $30,000, principally to make the
Company's network Year 2000  compliant.  However, it remains
possible that the planned testing process will reveal new areas
requiring expenditures.  The Company has been working toward
standard minimum personal computer  (PC) specifications and
common PC operating systems.  Acceleration of this program, if
any, required by Year 2000 considerations is not expected to be
significant.

"Forward Looking Statements"

  Certain of the preceding paragraphs contain "forward
looking statements" under the securities laws of the United
States. Actual results may vary from anticipated results as a
result of various risks and uncertainties, including sales
patterns, overall economic conditions, competition, pricing,
consumer buying trends and other factors.


                  PART II - OTHER INFORMATION



Item 6.   Exhibits and Reports on Form 8-K

(a)       Exhibit No. Description

          10.0        Stock Option Contract dated as of April 22, 1999
                      between the Company and John J. Macht.
          10.1        Stock Option Contract dated as of April 22, 1999
                      between the Company and Raymond Vise.
          10.2        Stock Option Contract dated as of April 22, 1999
                      between the Company and Mark Abramowitz.
       
          27.0        Financial Data Schedule.


(b)       Reports on Form 8-K - none


                             SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.


                         
                         SWANK, INC
                         Registrant


                         
                         
                         /s/ Christopher F. Wolf
                         
                         Christopher F. Wolf
                         Senior Vice President,
                         Chief Financial Officer
                         And Treasurer


Date:    May 10, 1999