| (Mark One) |
|------------|
| x          |   | Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|       |   |
|       | For the quarterly period ended September 30, 2010 |
|       |   |
|       | OR |
|       |   |   |
| o          |   | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|       |   |
|       | For the transition period from__________ to__________ |

|                                                                   |   |                                           |
|------------------------------------------------------------------------|--------|------------------------------------------------|
| Delaware(State or other jurisdiction of incorporation or organization) |   | 04-1886990(IRS Employer Identification Number) |
|                                                                   |   |                                           |
| 90 Park AvenueNew York, NY(Address of principal executive offices)     |   | 10016(Zip code)                                |

|   | Yes  | x |   | No | o |
|--------|-----------|---|--------|----|---|

| Large accelerated filer o |   |   | Accelerated filer o              |
|--------------------------------|--------|--------|----------------------------------|
|                           |
| Non-accelerated filer o   |   |   | Smaller reporting company x |

|   | Yes  | o |   | No | x |
|--------|-----------|---|--------|----|---|

| Title of Class               | Shares Outstanding on October 31, 2010 |
|------------------------------|----------------------------------------|
| Common Stock, $.10 par value | 5,656,318                              |

----

|                                     | Page No.                                                                              |
|------------------------------------------|---------------------------------------------------------------------------------------|
| Part I.  Financial Information |                                                                                  |
|                                     |                                                                                  |   |
| Item 1.                                  | Condensed Financial Statements and Related Notes                                      | 3 – 10 |
|                                     |                                                                                  |   |
| Item 2.                                  | Management's Discussion and Analysis of Financial Condition and Results of Operations | 10 – 15 |
|                                     |                                                                                  |   |
| Item 3.                                  | Quantitative and Qualitative Disclosures about Market Risk                            | 15 |
|                                     |                                                                                  |   |
| Item 4.                                  | Controls and Procedures                                                               | 15 |
|                                     |                                                                                  |   |
|                                     |                                                                                  |   |
| Part II.  Other Information    |                                                                                  |
|                                     |                                                                                  |   |
| Item 6.                                  | Exhibits                                                                              | 16 |
|                                     |                                                                                  |   |
| Signatures                               | 17                                                                                    |
|                                     |                                                                                  |   |
| Exhibit Index                            | 18                                                                                    |

----

Item 1

|                                                                                                           | (Unaudited)September 30, 2010 | December 31, 2009 |   |
|----------------------------------------------------------------------------------------------------------------|-------------------------------|-------------------|--------|
|                                                                                                           | ASSETS                        |              |   |   |   |
| Current:                                                                                                       |                          |              |   |   |   |
|   Cash and cash equivalents                                                                          |                          | $ 283             |   | $ 571 |   |
|   Accounts receivable, less allowances                                                               |                          |              |   |   |   |
|     of $5,945 and $6,137, respectively                                                     |                          | 20,916            |   | 16,324 |   |
|    Inventories, net:                                                                            |                          |              |   |   |   |
|           Work in process                                    | 816                           |              | 872    |   |   |
|           Finished goods                                     | 27,462                        |              | 22,872 |   |   |
|                                                                                                           |                          | 28,278            |   | 23,744 |   |
|   Deferred taxes, current                                                                            |                          | 2,132             |   | 2,132 |   |
|   Prepaid expenses and other current assets                                                          |                          | 1,650             |   | 1,293 |   |
|                                                                                                           |                          |              |   |   |   |
|           Total current assets                               |                          | 53,259            |   | 44,064 |   |
|                                                                                                           |                          |              |   |   |   |
| Property, plant and equipment, net of                                                                          |                          |              |   |   |   |
|     accumulated depreciation                                                               |                          | 1,089             |   | 888 |   |
| Deferred taxes, noncurrent                                                                                     |                          | 2,252             |   | 2,252 |   |
| Other assets                                                                                                   |                          | 2,415             |   | 3,479 |   |
|                                                                                                           |                          |              |   |   |   |
| Total assets                                                                                                   |                          | $ 59,015          |   | $ 50,683 |   |
|                                                                                                           |                          |              |   |   |   |
|                                                                                                           | LIABILITIES                   |              |   |   |   |   |
| Current:                                                                                                       |                          |              |   |   |   |
|   Note payable to bank                                                                               |                          | $ 13,743          |   | $          - |   |
|   Current portion of long-term obligations                                                           |                          | 449               |   | 497 |   |
|   Accounts payable                                                                                   |                          | 4,046             |   | 9,456 |   |
|   Accrued employee compensation                                                                      |                          | 923               |   | 2,016 |   |
|   Accrued royalties                                                                                  |                          | 1,308             |   | 1,132 |   |
|   Other current liabilities                                                                          |                          | 1,631             |   | 1,566 |   |
|                                                                                                           |                          |              |   |   |   |
|           Total current liabilities                          |                          | 22,100            |   | 14,667 |   |
|                                                                                                           |                          |              |   |   |   |
| Long-term obligations                                                                                          |                          | 6,509             |   | 6,432 |   |
|                                                                                                           |                          |              |   |   |   |
| Total liabilities                                                                                              |                          | 28,609            |   | 21,099 |   |
|                                                                                                           |                          |              |   |   |   |
|                STOCKHOLDERS' EQUITY |                          |              |   |   |   |
| Preferred stock, par value $1.00:                                                                              |                          |              |   |   |   |   |
|   Authorized - 1,000,000 shares                                                                      |                          | -                 |   | - |   |
| Common stock, par value $.10:                                                                                  |                          |              |   |   |   |
|   Authorized - 43,000,000 shares:                                                                    |                          |              |   |   |   |
|     Issued – 6,429,095 shares and 6,418,789 shares, respectively                     |                          | 643               |   | 642 |   |
| Capital in excess of par value                                                                                 |                          | 2,541             |   | 2,322 |   |
| Retained earnings                                                                                              |                          | 29,867            |   | 29,256 |   |
| Accumulated other comprehensive (loss), net of tax                                                             |                          | (493)             |   | (493) |   |
| Treasury stock, at cost, 755,185 shares and    752,489 shares, respectively                |                          | (2,152)           |   | (2,143) |   |
|                                                                                                           |                          |              |   |   |   |
| Total stockholders' equity                                                                                     |                          | 30,406            |   | 29,584 |   |
|                                                                                                           |                          |              |   |   |   |
| Total liabilities and stockholders' equity                                                                     |                          | $ 59,015          |   | $ 50,683 |   |
|                                                                                                           |                          |              |   |   |   |
|                                                                                                           |                          |              |   |   |   |

----

|                                                             |   | 2010          |   | 2009          |
|------------------------------------------------------------------|--------|---------------|--------|---------------|
|                                                             |   |          |   |          |
| Net sales                                                        |   | $ 32,595 |   | $ 28,639 |
|                                                             |   |          |   |          |
| Cost of goods sold                                               |   | 22,367        |   | 19,935        |
|                                                             |   |          |   |          |
| Gross profit                                                     |   | 10,228        |   | 8,704         |
|                                                             |   |          |   |          |
| Selling and administrative expenses                              |   | 8,238         |   | 7,962         |
|                                                             |   |          |   |          |
| Income from operations                                           |   | 1,990         |   | 742           |
|                                                             |   |          |   |          |
| Interest expense                                                 |   | 119           |   | 95            |
|                                                             |   |          |   |          |
| Income before income taxes                                       |   | 1,871         |   | 647           |
|                                                             |   |          |   |          |
| Income tax provision                                             |   |  742     |   |  257     |
|                                                             |   |          |   |          |
| Net income                                                       |   | $ 1,129  |   | $ 390    |
|                                                             |   |          |   |          |
| Share and per share information:                                 |   |          |   |          |
| Basic net income per weighted average common share outstanding   |   | $ .20    |   | $ .07    |
| Basic weighted average common shares outstanding                 |   | 5,673,910     |   | 5,674,145     |
| Diluted net income per weighted average common share outstanding |   | $ .20         |   | $ .07         |
| Diluted weighted average common shares outstanding               |   | 5,673,910     |   | 5,674,777     |

----

|                                                             |   | 2010          |   | 2009          |
|------------------------------------------------------------------|--------|---------------|--------|---------------|
|                                                             |   |          |   |          |
| Net sales                                                        |   | $ 87,670 |   | $ 79,111 |
|                                                             |   |          |   |          |
| Cost of goods sold                                               |   | 60,541        |   | 54,797        |
|                                                             |   |          |   |          |
| Costs associated with termination of Style 365 agreement         |   | 1,492         |   | -             |
|                                                             |   |          |   |          |
| Total cost of sales                                              |   | 62,033        |   | 54,797        |
|                                                             |   |          |   |          |
| Gross profit                                                     |   | 25,637        |   | 24,314        |
|                                                             |   |          |   |          |
| Selling and administrative expenses                              |   |  25,048  |   |  23,156  |
|                                                             |   |          |   |          |
| Income from operations                                           |   | 589           |   | 1,158         |
|                                                             |   |          |   |          |
| Interest expense                                                 |   | 288           |   | 309           |
|                                                             |   |          |   |          |
| Income before income taxes                                       |   | 301           |   | 849           |
|                                                             |   |          |   |          |
| Income tax (benefit) provision                                   |   |  (310)   |   |  337     |
|                                                             |   |          |   |          |
| Net income                                                       |   | $ 611    |   | $ 512    |
|                                                             |   |          |   |          |
| Share and per share information:                                 |   |          |   |          |
| Basic net income per weighted average common share outstanding   |   | $ .11    |   | $ .09    |
| Basic weighted average common shares outstanding                 |   | 5,673,003     |   | 5,671,817     |
| Diluted net income per weighted average common share outstanding |   | $ .11         |   | $ .09         |
| Diluted weighted average common shares outstanding               |   | 5,673,003     |   | 5,671,921     |

----

|                                                                           | 2010                                      | 2009  |
|--------------------------------------------------------------------------------|----------------------------------------------------------|------------|
| Cash flows from operating activities:                                          |                                                     |       |
|                                                                           |                                                     |       |
| Net income                                                                     | $ 611                                               | $ 512 |
| Adjustments to reconcile net income tonet cash (used in) operating activities: |                                                     |       |
|                                                                           | Depreciation and amortization                            | 254        | 292 |
|                                                                           | Bad debt expense                                         | 306        | 322 |
|                                                                           | Stock-based compensation expense                         | 190        | 190 |
|                                                                           | Proceeds from life insurance                             | 390        | 512 |
|                                                                           |                                                     |       |
| Changes in assets and liabilities                                              |                                                     |       |
|                                                                           | (Increase) in accounts receivable                        | (4,898)    | (7,651) |
|                                                                           | (Increase) decrease in inventory                         | (4,534)    | 4,602 |
|                                                                           | (Increase) decrease in prepaid expenses and other assets | (19)       | 820 |
|                                                                           | (Decrease) increase in accounts payable                  | (5,410)    | 80 |
|                                                                           | Increase in accrued royalties                            | 176        | 29 |
|                                                                           | (Decrease) in all other current liabilities              | (1,046)    | (383) |
|                                                                           | Increase in long-term obligations                        | 508        | 170 |
|                                                                           | Net cash (used in) operating activities                  | (13,472)   | (505) |
|                                                                           |                                                     |       |
| Cash flows from investing activities:                                          |                                                     |       |
|                                                                           | Capital expenditures                                     | (435)      | (66) |
|                                                                           | Premiums on life insurance                               | (116)      | (212) |
|                                                                           | Net cash (used in) investing activities                  | (551)      | (278) |
|                                                                           |                                                     |       |
| Cash flows from financing activities:                                          |                                                     |       |
|                                                                           | Borrowing under revolving credit agreements              | 68,099     | 47,245 |
|                                                                           | Payments of revolving credit obligations                 | (54,355)   | (46,284) |
|                                                                           | Treasury stock received                                  | (9)        |        (42) |
|                                                                           | Net cash provided by financing activities                | 13,735     | 919 |
|                                                                           |                                                     |       |
|                                                                           | Net (decrease) increase in cash and cash equivalents     | (288)      | 136 |
|                                                                           |                                                     |       |   |
|                                                                           | Cash and cash equivalents at beginning of period         | 571        | 343 |
|                                                                           |                                                     |       |   |
|                                                                           | Cash and cash equivalents at end of period               | $ 283 | $ 479 |

|   |                                                        |                         |   |
|--------|-------------------------------------------------------------|------------------------------|--------|
|   | Cash paid during the nine months for:                       |                         |   |
|   | Interest                                                    | $    288 | $ 309  |
|   | Income taxes                                           | $ 1,350                      | $ 532  |
|   |                                                        |                         |   |
|   | Non-cash transactions during the period:                    |                         |   |
|   | Issuance of common stock in lieu of cash compensation  | $ 30                         | $ 35   |

----

| (1) | Basis of Presentation.  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 September 30, 2010 and 2009. 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.  Footnote information was included in the financial statements included in the Company’s 2009 Annual Report on Form 10-K. The condensed financial data included herein should be read in conjunction with the information in the Annual Report.  The results of operations for the nine months ended September 30, 2010 may not be indicative of the results that may be expected for the year ended December 31, 2010 or any other period. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Net Income per Share.  The following table sets forth the computation of the net income per share for the periods ended September 30, 2010 and September 30, 2009 (in thousands, except for share and per share data): |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                                                                                | Three Months                                                                                                         | Nine Months                                                      |
|--------|-----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------|
|   |                                                                                                | Ended September 30,                                                                                                  | Ended September 30,                                              |
|   |                                                                                                | 2010                                                                                                                 | 2009                                                             | 2010 | 2009 |
|   | Numerator:                                                                                          |                                                                                                                 |                                                             |   |   |
|   | Net income                                                                                          | $ 1,129                                                                                                              | $ 390                                                            | $ 611 | $ 512 |
|   | Denominators:                                                                                       |                                                                                                                 |                                                             |   |   |
|   | Shares used in computing basic net income per weighted average common share outstanding             | 5,673,910                                                                                                            | 5,674,145                                                        | 5,673,003 | 5,671,817 |
|   | Effect of dilutive securities                                                                       |                     - |            632 |                   - |             104 |
|   | Shares used in computing net income per weighted average common share outstanding assuming dilution | 5,673,910                                                                                                            | 5,674,777                                                        | 5,673,003 | 5,671,921 |
|   |                                                                                                |                                                                                                                 |                                                             |   |
|   | Basic net income per weighted average common share outstanding                                      | $ .20                                                                                                                | $ .07                                                            | $ .11 | $ .09 |
|   | Diluted net income per weighted average common share outstanding                                    | $ .20                                                                                                                | $ .07                                                            | $ .11 | $ .09 |

| (3) | Segment Information. We presently have one reportable segment, men's and women’s accessories, consisting of men’s costume jewelry, personal leather accessories and suspenders and men’s and women’s belts. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Stock Options.  In 1994, we established a directors' stock option plan pursuant to which options could be granted to non-employee directors to purchase 50,000 shares of common stock at market value on the date of grant. Options granted under this plan were for a period of five years and were immediately exercisable.  No options were granted in 2010 or 2009 as all of the shares of common stock available under the directors’ plan were granted.    |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In April 1998, our stockholders approved the Swank, Inc. 1998 Equity Incentive Compensation Plan (the "1998 Plan") which replaced the Company's prior incentive stock plans, all of which had expired by their terms. The 1998 Plan permitted our Board of Directors to grant a maximum of 1,000,000 shares to key employees through stock options, stock appreciation rights, restricted stock units, performance awards and other stock-based awards. We granted options for 625,000 shares under the 1998 Plan in 2001. These options vested immediately.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | During the first quarter of 2008, we granted options for the remaining 375,000 shares under the 1998 Plan to certain of our key executives.  Of the 375,000 option shares, 260,000 shares were granted at an exercise price equal to the fair market price on the date of the grant of $5.05 per share. The remaining 115,000 shares, which were issued to participants owning greater than 10% of the Company’s outstanding voting stock, were issued at an exercise price of 110% of the fair market value at the date of the grant, or $5.56 per share.  The options expire five years from the date of grant and vest 25% on each of the first four anniversary dates of the grant.  The fair value of the option grants was estimated on the date of grant using the Black-Scholes option-pricing model.  Expected volatility was estimated using the Company’s historical volatility, calculated on a trailing 39-month basis. We believe that the significant improvement in the Company’s financial condition during the past several years makes share prices prior to December |

----

|                                         | Number of Shares    |                             | Weighted Average Exercise Price |   | Weighted Average Remaining Contractual Term (years) |   |   AggregateIntrinsicValue(in thousands)*                                                |
|----------------------------------------------|---------------------|----------------------------------|---------------------------------|--------|-----------------------------------------------------|--------|----------------------------------------------------------------------------------------------|
| Outstanding at December 31, 2009             | 376,667             |                             | $5.19                           |   | 3.16                                                |   |             $   - |   |
|                                         | Granted             | -                                |                            | -      |                                                | -      |                                                                                         |           - |   |
|                                         | Exercised           | -                                |                            | -      |                                                | -      |                                                                                         |           - |   |
|                                         | Forfeited/ Expired  |      (1,667) |                            | -      |                                                | -      |                                                                                         |           - |   |
| Outstanding at September 30, 2010            |   375,000 |                             | $5.21                           |   | 2.41                                                |   | $  -                                                                               |   |
|                                         |                |                             |                            |   |                                                |   |                                                                                         |   |
|                                         |                |                             |                            |   |                                                |   |                                                                                         |   |
| Vested and Exercisable at September 30, 2010 | 187,500             |                             |  $5.21                     |   | 2.41                                                |   | $  -                                                                               |   |

| (5) | Income Taxes.  We adopted the provisions of ASC 740-10 (formerly Financial Accounting Standards Board Interpretation (“FIN”) No. 48), “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109” (“ASC 740-10”), on January 1, 2007.  We performed a comprehensive review of our tax positions in accordance with recognition standards established by ASC 740-10. In this regard, an uncertain tax position represents our treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. As a result of our review, we do not believe that we have included any “uncertain tax positions” in our federal income tax return or in any state income tax returns. With few exceptions, we are no longer subject to federal income tax |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|    | examinations for years prior to 2003. As of September 30, 2010, there have been no material changes to our uncertain tax positions disclosure as provided in Note D to the financial statements included in our fiscal 2009 Form 10-K. We do not anticipate that our unrecognized tax benefits will significantly change during the next 12 months. |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)   | Fair Value Measurements. In September 2006, the FASB issued ASC 820-10-65 (formerly Statement of Financial Accounting Standards No. 157), "Fair Value Measurements and Disclosures". We adopted ASC 820-10 on January 1, 2008 for our financial assets and financial liabilities. However, the FASB deferred the effective date of ASC 820-10-65 for one year as it relates to fair value measurement requirements for nonfinancial assets and nonfinancial liabilities that are not recognized or disclosed at fair value on a recurring basis. The adoption of ASC 820-10-65 did not have a material impact on our financial statements.    |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | ASC 820-10-65 defines fair value, provides guidance for measuring fair value and requires certain disclosures. This statement applies under other accounting pronouncements that require or permit fair value measurements. The statement indicates, among other things, that a fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. ASC 820-10-65 defines fair value based upon an exit price model.  ASC 820-10-65 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level 1:  Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level 2: Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly.   |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Level 3:  Unobservable inputs that reflect the reporting entity’s own assumptions.  |
|--------|--------|----------------------------------------------------------------------------------------------------------|

|    | Our cash and cash equivalents consist of cash on deposit at various financial institutions at September 30, 2010. Included on the balance sheet in prepaid expenses and other current assets are securities available for sale, stated at fair market value, of approximately $11,000 at September 30, 2010 and December 31, 2009. |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7)     | Recent Accounting Pronouncements.   In June 2009, the FASB issued guidance that eliminates the concept of a “qualifying special-purpose entity,” changes the requirements for derecognizing financial assets, and requires additional disclosures in order to enhance information reported to users of financial statements by providing greater transparency about transfers of financial assets, including securitization transactions, and an entity’s continuing involvement in and exposure to the risks related to transferred financial assets. This guidance is effective for fiscal years beginning after November 15, 2009. The adoption of this guidance as of January 1, 2010 did not have a material effect on our financial condition, results of operations or cash flows. |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In October 2009, the FASB issued Accounting Standards Update No. 09-13, “Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements (a consensus of the FASB Emerging Issues Task Force)” (“ASU 09-13”). ASU 09-13 updates the existing multiple-element arrangement guidance currently in ASC 605-25. “Revenue Recognition - Multiple-Element-Arrangements”. This new guidance eliminates the requirement that all undelivered elements have objective and reliable evidence of fair value before a company can recognize the portion of the overall arrangement fee that is attributable to the items that have already been delivered. Further, companies will be required to allocate revenue in arrangements involving multiple deliverables based on estimated selling price of each deliverable, even though such deliverables are not sold separately by either the company itself or other vendors. This new guidance also significantly expands the disclosures required for multiple-element revenue arrangements. The revised guidance will be effective for the fiscal year ending December 31, 2011, with early adoption permitted. The Company expects to adopt the standard in the first quarter of 2011. We do not expect the adoption of this guidance in 2011 to have a material effect on our financial condition, results of operations or cash flows. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|    | In December 2009, the FASB issued Accounting Standards Update 2009-17 (“ASU 2009-17”), which codifies SFAS No. 167, Amendments to FASB Interpretation No. 46(R) issued in June 2009. ASU 2009-17 requires a qualitative approach to identifying a controlling financial interest in a variable interest entity (“VIE”), and requires ongoing assessment of whether an entity is a VIE and whether an interest in a VIE makes the holder the primary beneficiary of the VIE. ASU 2009-17 is effective for interim and annual reporting periods beginning after November 15, 2009. The adoption of this guidance as of January 1, 2010 did not have a material effect on our financial condition, results of operations or cash flows. |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | In January 2010, the FASB issued an update regarding improving disclosures about fair value measurements. The update provides amendments requiring entities to disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers. In addition the update requires entities to present separately information about purchases, sales, issuances, and settlements in the reconciliation for fair value measurements using significant unobservable inputs (Level 3). The disclosures related to Level 1 and Level 2 fair value measurements were effective for us in the first quarter of 2010 and had no impact on our financial condition, results of operations, or cash flows.  The disclosures related to Level 3 fair value measurements are effective for us in the first quarter of 2011. We are currently assessing the future impact of this new accounting update but do not expect it to have a material impact on our financial condition, results of operations or cash flows. |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8)   | Commitments and Contingencies.  Termination of Style 365 Agreement.  During 2009, the Company announced that it had entered into a strategic alliance with Style 365 LLC (“Style 365”), a marketer of women’s fashion belts and accessories.  During the quarter ended March 31, 2010, the Company decided to terminate that relationship. As a result, the Company recorded a pretax charge of $1,492,000 during that quarter in connection with certain inventory commitments made prior to the termination of its relationship with Style 365. During the quarter ended September 30, 2010, the Company sold a portion of this merchandise for $175,000 which was recorded as income during the quarter. Any further recovery will be recognized in the period in which the related inventory is sold. The Company is licensed to manufacture, distribute and sell women’s fashion accessories under certain of its license agreements, and continues to manufacture and sell women’s fashion accessories directly to certain of its licensors.   |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (9)   | Subsequent Events.  The Company has evaluated all subsequent events through November 12, 2010, which represents the filing date of this Form 10-Q with the Securities and Exchange Commission, to ensure that this Form 10-Q includes appropriate disclosure of events both recognized in the financial statements as of September 30, 2010, and events which occurred subsequent to September 30, 2010 but were not recognized in the financial statements. As of November 12, 2010, there were no subsequent events which required recognition or disclosure. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Item 2

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----

----

----

Item 3

Item 4

----

Item 6.

| ExhibitNumber | Description                                                                                                             |
|---------------|-------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                    |
| 31.01         | Rule 13a-14(a) Certification of John Tulin, Chief Executive Officer of the Company.                                     |
|          |                                                                                                                    |
| 31.02         | Rule 13a-14(a) Certification of Jerold R. Kassner, Executive Vice President and Chief Financial Officer of the Company. |
|          |                                                                                                                    |
| 32.01         | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

----

SIGNATURES

|                                     | SWANK, INC.                                                                      |   |
|------------------------------------------|----------------------------------------------------------------------------------|--------|
|                                     | Registrant                                                                       |
|                                     |                                                                             |
|                                     |                                                                             |
|                                     | /s/ Jerold R. Kassner                                                            |   |
|                                     | Jerold R. Kassner,Executive Vice President,Chief Financial Officer and Treasurer |
|                                     |                                                                             |
|                                     |                                                                             |
| Date:   November 12, 2010 |                                                                             |

----

INDEX

| ExhibitNumber | Description                                                                                                             |
|---------------|-------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                    |
| 31.01         | Rule 13a-14(a) Certification of John Tulin, Chief Executive Officer of the Company.                                     |
|          |                                                                                                                    |
| 31.02         | Rule 13a-14(a) Certification of Jerold R. Kassner, Executive Vice President and Chief Financial Officer of the Company. |
|          |                                                                                                                    |
| 32.01         | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |