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, 2000

                               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 28, 2000
Common stock, $.10 par value             16,569,423

<TABLE>

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

<CAPTION>
                                                         March 31, 2000    December 31, 1999
<S>                                                    <C>         <C>     <C>        <C>
          ASSETS
Current:
  Cash and cash equivalents                                          $ 570            $ 1,258
  Accounts receivable, less allowances
    of $9,453 and $10,176                                           19,012             16,328
  Inventories
          Raw materials                                 $8,035              $7,666
          Work in process                                7,071               5,924
          Finished goods                                20,295      35,401  22,803     36,393
  Deferred income taxes                                              5,963              5,963
  Income taxes recoverable                                             897                  -
  Prepaid and other                                                  1,311              1,329

          Total current assets                                      63,154             61,271


Property, plant and equipment, at cost                  28,522              28,577
    less accumulated depreciation and amortization      22,862       5,660  22,531      6,046
Other assets                                                         8,011              7,623

  Total assets                                                    $ 76,825           $ 74,940

          LIABILITIES
Current:
  Notes payable to banks                                            $23,455          $ 16,762
  Current portion of long-term debt                                    181                181
  Accounts payable                                                   2,540              4,162
  Accrued employee compensation                                      2,513              3,296
  Income taxes payable                                                   -              1,701
  Other current liabilities                                          5,849              4,740

          Total current liabilities                                 34,538             30,842

Long-term obligations                                                9,806              9,999

          Total liabilities                                         44,344             40,841

Minority Interest in consolidated subsidiary                           483                505

          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 16,902,942 shares                          1,690              1,690
Capital in excess of par value                                         926                926
Retained earnings                                                   30,072             31,672
Accumulated other comprehensive income                                  19                 15
                                                                    32,707             34,303
Treasury stock, at cost, 333,519 shares and 333,519                  (709)              (709)
shares
          Total stockholders' equity                                31,998             33,594

Total liabilities and  stockholders' equity                      $  76,825          $  74,940

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

</TABLE>


<TABLE>
                           SWANK, INC.
   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
         FOR THE QUARTERS ENDED MARCH 31, 2000 AND 1999
          (Dollars in thousands except per share data)
                ---------------------------------

<CAPTION>
                                                                      2000        1999
<S>                                                            <C>          <C>
Net Sales                                                        $  35,974    $ 37,199
Cost of goods sold                                                  23,084      23,144
Gross profit                                                        12,890      14,055
Selling and administrative expenses                                 13,800      13,684
Restructuring expenses                                               1,400           -
Income (loss) from operations                                      (2,310)         371
Interest expense, net                                                  392         348
Income (loss) before income taxes and minority interest            (2,702)          23
Provision (benefit) for income taxes                               (1,081)          90
Minority interest in loss of consolidated subsidiary                    22         182
Net income (loss)                                                $ (1,599)       $ 115

Share and per share information:
Weighted average common shares outstanding                      16,569,423  16,566,627
Net income (loss) per common share                                 $ (.10)       $ .01
Weighted average common shares outstanding assuming dilution    16,569,423  16,889,216
Net income (loss) per common share assuming dilution               $ (.10)       $ .01

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

</TABLE>


<TABLE>
                           SWANK, INC.
   CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
         FOR THE QUARTERS ENDED MARCH 31, 2000 AND 1999
                     (Dollars in thousands)
                         --------------

<CAPTION>
                                                                        2000        1999
<S>                                                               <C>              <C>
Cash flows from operating activities:

Net income (loss)                                                  $ (1,599)       $ 115

Adjustments to reconcile net income (loss)
 to net cash used in operations:

  Depreciation and amortization                                          349         355
  Provision (recoveries) for bad debts                                  (26)          13
  Minority interest in net loss of consolidated subsidiary              (22)       (182)
  Gain on sale of assets                                                 (1)           -

Changes in assets and liabilities:
   (Increase) in accounts receivable                                 (2,658)     (4,797)
   Decrease in inventory                                                 992       1,387
   (Increase) in income taxes recoverable                              (897)           -
   (Increase) decrease in prepaid and other current assets
                                                                          62         (1)
   (Increase) decrease in other noncurrent assets                         22       (119)
   (Decrease) in accounts payable                                    (1,478)     (1,916)
      and accrued liabilities
   (Decrease) in income taxes payable                                (1,701)     (1,380)
    Increase in long-term obligations                                     54         288

          Net cash (used) in operations                              (6,903)     (6,237)

Cash flows from investing activities:
  Capital expenditures                                                 (205)       (361)
  Premiums on life insurance                                           (214)       (227)
  Proceeds from sales of fixed assets                                      4           -
               Net cash (used) in investing activities                 (415)       (588)

Cash flows from financing activities:
  Borrowing under revolving credit agreements
                                                                      23,168      21,971
  Payments of revolving credit obligations                          (16,475)    (15,531)
  Principal payments on long-term debt                                  (67)        (75)
  Proceeds from exercise of employee stock options                         -           9

          Net cash provided by financing activities                    6,626       6,374

  Currency translation adjustment                                          4           -

  Net (decrease) in cash and cash equivalents                          (688)       (451)

  Cash and cash equivalents at beginning of period                     1,258         757

  Cash and cash equivalents at end of period                            $570        $306


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

</TABLE>

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,
  2000 and 1999.  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 1999 Annual Report on Form
  10-K.  The condensed financial data included herein should be
  read in conjunction with the information in the annual report.

(2)  During the quarter ended March 31, 2000, the Company has not
  incurred any material changes in commitments and contingencies
  set forth in Footnote I of the 1999 Annual Report to Stockholders.

(3)  The following table sets forth the computation of net income
  (loss) per share for the quarters ending March 31, 2000 and March
  31, 1999 (in thousands, except for share and per share data):

<TABLE>
<CAPTION>
                                                                  Quarter
                                                              Ended March 31,
                                                            2000        1999
<S>                                                     <C>         <C>
Numerator:
Net income (loss)                                        $ (1,599)       $ 115

Denominators:
Shares used in computing net income (loss) per
  common share                                          16,569,423  16,566,627
Effect of dilutive options                                       -     322,589
Shares used in computing net income (loss) per common   16,569,423  16,889,216
  share assuming dilution

Net income (loss) per common share                         $ (.10)       $ .01
Net income (loss) per common share assuming dilution       $ (.10)       $ .01

</TABLE>

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


(4) Segment Information (in  thousands):


                                                               Consolidated
                                    Men's    Women's   Other       Total
3 months ending March 31
2000
Revenue from
  external customers                $23,136   $11,814  $1,024      $35,974
Segment income (loss) before tax    (1,493)   (1,040)   (147)      (2,680)

1999
Revenue from
  external customers                $22,000   $14,164  $1,035      $37,199
Segment income (loss) before tax      (186)       537   (146)          205


(5)  Restructuring.  On March 16, 2000, the Company announced a
  plan to cease production operations at its jewelry manufacturing
  facility located in Attleboro, Massachusetts ("Attleboro") and
  transfer its remaining domestic jewelry production requirements
  to its majority-owned subsidiary, Joyas y Cueros, S.A. de Costa
  Rica, and certain third-party vendors. Manufacturing operations
  at Attleboro will cease following the orderly transition of
  merchandise requirements to other resources, which is
  anticipated, to be completed on or about May 15, 2000. Management
  has concluded that its Attleboro manufacturing facility can no
  longer be competitive in light of the increasing pressure to
  sustain gross margins at both the wholesale and retail level and
  that maintaining a domestic large-scale jewelry manufacturing
  operation is not economically viable. In connection with the
  closure, the Company recorded a restructuring charge of
  $1,400,000 against income from operations in the first quarter of
  2000 to cover employee termination benefits.  The restructuring
  charge has been stated separately on the Condensed Consolidated
  Statement of Operations for the quarter ended March 31, 2000.

  The restructuring charge consists of payroll and related
  costs, including outplacement fees and severance for
  approximately 190 production related employees affected by the
  closure of the Attleboro manufacturing facility.
  Approximately 100 employees were terminated prior to the end
  of the quarter.  The remaining employees will be involved in
  the closing of operations until about May 15, 2000.  As of
  March 31, 2000, approximately $111,000 of the restructuring
  charge had been paid and a liability of $1,289,000 which was
  included in Other current liabilities on the Condensed
  Consolidated Balance Sheet, remains to be paid.  The Company
  expects to fully pay the liability by the end of the current
  fiscal year.



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, 2000 decreased by
3.3% to $35,974,000 compared to $37,199,000 for the quarter ended
March 31, 1999.   Net sales for Men's Accessories increased by
$1,136,000 or 5.2% and net sales for Women's Accessories
decreased by $2,350,000 or 16.6%, both compared to the quarter
ended March 31, 1999.

  The increase in net sales for Men's Accessories was primarily
due to increased shipments of certain branded merchandise
programs for men's belts, offset in part by lower sales of
private label belts to mass merchandising customers. The
Company's John Henry belt and small leather goods collections,
which have been well received by retail customers, first shipped
during the second quarter of 1999.

  Women's Accessories net sales decreased during the quarter
principally due to reduced shipments of closeout and discontinued
goods and lower sales of branded merchandise to department store
customers.  The Company continued its efforts to refocus its
various women's jewelry programs during the quarter.  The Company
also made substantial shipments of its Kenneth Cole women's
jewelry collection, which was first shipped to retail customers
in December 1998, during the quarter ended March 31, 1999.


Gross Profit

  Gross profit for the quarter ended March 31, 2000 decreased by
$1,165,000 or 8.3% to $12,890,000 compared to $14,055,000 for the
quarter ended March 31, 1999. Gross profit for Men's Accessories
decreased by $183,000 and gross profit for Women's Accessories
decreased by $955,000, both compared to the quarter ended March
31, 1999.

  Gross profit expressed as a percentage of net sales fell to
30.6% for Men's Accessories for the quarter ended March 31, 2000
compared to 33.0% last year. Gross profit expressed as percentage
of net sales increased to 44.4% for Women's Accessories for the
quarter ended March 31, 2000 compared to 43.8% last year. The
decline in gross profit for Men's Accessories was primarily due
to an increase in unfavorable overhead variances at the Company's
domestic jewelry and belt manufacturing facilities in response to
increased global sourcing of the Company's various merchandise
lines.  Gross profit for Men's Accessories was also adversely
affected during the quarter by an increase in other manufacturing
variances associated with a reduction in domestic production
levels.


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


  The increase in gross profit for Women's Accessories expressed
as a percentage of sales was primarily due to a decrease in
product costs resulting from an expansion of the Company's
merchandise sourcing strategy offset in part by an increase in
unfavorable overhead variances associated with lower production
levels at its domestic jewelry manufacturing facility (see Note
5). The Company's Costa Rican subsidiary, Joyas y Cueros de Costa
Rica, S.A. ("Joyas") also substantially reduced its operating
loss during the quarter compared to the quarter ended March 31,
1999.  Joyas, which was acquired by the Company on January 8,
1999,  incurred significant start-up related expenses during the
first half of 1999.

  Customer returns through March 31, 2000 are within the
estimates utilized in establishing the allowance for returns as
of December 31, 1999.  First quarter adjustments to the reserve
in 2000 and 1999 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
2000 returns from the allowance established at December 31, 1999
will be finally determined during the second quarter and recorded
at that time.


Selling and Administrative Expenses

     Selling and administrative expenses increased $116,000 or
less than 1% for the quarter ended March 31, 2000 to $13,800,000
from $13,684,000 last year. The increase in selling expenses for
the quarter is primarily due to planned increases in advertising
and promotional expenditures for Women's Accessories offset
partially by reductions in variable selling expenses associated
with lower sales. The Company routinely makes substantial
advertising and promotional expenditures to maintain and enhance
its businesses and in addition, certain license agreements
require specified levels of spending. Total advertising and
promotional expenses totaled 8.9% and 7.0% of net sales for the
quarters ended March 31, 2000 and March 31, 1999, respectively.

  Administrative expenses for the quarter ended March 31, 2000
decreased by $422,000 compared to the same period in the prior
year primarily due to a gain of $476,000 recorded during the
quarter resulting from the receipt of common shares associated
with the conversion of a mutal life insurance company to a stock
corporation (commonly known as a demutualization).  Selling and
administrative expenses as a percentage of net sales increased to
38.4% for the quarter ended March 31, 2000 from 36.8% last year.
The increase is principally due to lower sales and higher
advertising and promotional expenditures as described above,
offset in part by the gain from the insurance company
demutualization.

Restructuring Charge
 On March 16, 2000, the Company announced a plan to cease
production operations at its jewelry manufacturing facility
located in Attleboro, Massachusetts ("Attleboro") and transfer
its remaining domestic jewelry production requirements to its
majority-owned subsidiary, Joyas y Cueros, S.A. de Costa Rica,
and certain third-party vendors. Manufacturing operations at
Attleboro will cease following the orderly transition of
merchandise requirements to other resources, which is
anticipated, to be completed on or about May 15, 2000. Management
has concluded that its Attleboro manufacturing facility can no
longer be competitive in light of the increasing pressure to
sustain gross margins at both the wholesale and retail level and
that maintaining a domestic large-scale jewelry manufacturing
operation is not economically viable. In connection with the
closure, the Company recorded a restructuring charge of
$1,400,000 against income from operations in the first quarter of
2000, to cover employee severance and other



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


payroll related costs.  Additional integration expenses
associated with the writedown of certain inventory, currently
estimated at $550,000, are also likely to be incurred during the
remainder of fiscal 2000 as the Company completes the process of
resourcing its remaining merchandise requirement.  Integration
costs will be expensed as incurred.

 As of March 31, 2000, approximately $111,000 had been paid.  The
Company expects to pay the remaining $1,289,000, which has been
included in Other current liabilities at March 31, 2000, by the
end of the fiscal year ending December 31, 2000.

 The Company anticipates that the restructuring will generate net
pre-tax annualized savings of approximately $3,000,000 to
$5,000,000 reflecting enhanced gross profit margins from re-
sourcing jewelry products to lower cost suppliers and reduced
manufacturing support costs in Attleboro.  The Company will
continue to monitor the progress of closing the plant and, at
this time does not anticipate any material adjustment to the
restructuring charge and expects the restructuring charge accrual
to be adequate.


Interest Expense

  Net interest expense increased $44,000 for the quarter ended
March 31, 2000 compared to the same period in the prior year due
to both higher average borrowing levels and increased borrowing
costs.


 Provision for Income Taxes

     The Company recorded a benefit for income taxes on the
consolidated pre-tax loss for the quarter ended March 31, 2000 at
an effective rate of 40.0% which approximates the blended state
and federal statutory rates.  For the quarter ended March 31,
1999, income taxes were provided for at an effective rate of 44%
on consolidated pre-tax income. The decrease in the effective tax
rate resulted primarily from the reduction in operating losses
incurred by Joyas y Cueros de Costa Rica, S.A. during the
quarter.  No income tax benefit is anticipated on losses incurred
by the Company's Costa Rican subsidiary.


Liquidity and Capital Resources

     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.

  The Company's working capital decreased by $1,813,000 during
quarter ended March 31, 2000 compared to a decrease of $179,000
for the quarter ended March 31, 1999.

  Cash used in operations for the quarter totaled $6,904,000
consisting primarily of the consolidated net loss, increases in
accounts receivable balances, decreases in accounts payable and
income taxes payable, offset in part by a reduction in inventory
balances. Accounts receivable increased by $2,684,000 primarily
due to increased sales


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


during the period and 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 1999.  These
reductions are partially offset by increases resulting from
accruals associated with current period sales activity.  Income
taxes payable declined by $1,701,000 and income taxes recoverable
increased by $897,000 after tax payments made during the quarter
of  $1,517,000 and the recording of a tax benefit for the quarter
of  $1,081,000.  Inventory levels fell by $992,000 reflecting the
Company's efforts to refocus certain merchandise assortments and
dispose of excess and out-of-line merchandise.

     Cash used in investing activities was $415,000 for capital
expenditures and insurance premiums, net of proceeds from asset
dispositions. Cash provided by financing activities totaled
$6,627,000 consisting primarily of net borrowings under the
Company's revolving credit agreement.



Year 2000

     Management believes that the Company has been able to modify
its significant software systems to make them Year 2000 compliant
without material effects on the Company's business or results of
operations. The identification of date issues associated with key
applications software developed both internally by the Company
and by third-party vendors and the necessary modifications were
completed at December 31, 1999.  The Company to date has not
experienced any Year 2000-events that had a material adverse
affect on its operations or business.

        As part of its program to identify and remediate
potential Year 2000 exposures, the Company, beginning in
September 1998, began surveying third parties with whom it had
material business relationships to obtain information and
representations concerning the respective readiness of each
relative to Year 2000. Because many of the Company's third party
relationships are with public companies, the Company also began
reviewing the various public filings of these companies to
monitor the status of their representations concerning Year 2000
readiness. Third parties contacted or monitored included major
customers, determined regardless of whether there is an existing
Electronic Data Interchange ("EDI") relationship, major vendors
and suppliers of key services such as utilities,
telecommunications and banking.  As described above, the Company
to date has not experienced any material Year 2000-related
disruptions in its operations arising from third party
relationships. The Company installed Year 2000 compliant EDI
software in 1999 and has to date experienced no material
interruption in electronic sales order processing. A significant
disruption in EDI processing could materially impair the
Company's shipments.

   Although no material Year 2000 disruptions have occurred to
date, the Company's seasonality provides something of a buffer
against date-related risks that may be as yet unidentified.
Management has not developed a formal contingency plan to with
regard to potential future risks but the Company intends to
continue to monitor its key relationships with suppliers,
customers, and service providers for any Year 2000 issues that
may arise.

       Most of the Company's applications software was internally
developed and the necessary modifications were completed in 1999
utilizing existing internal personnel resources.  Management does
not believe that use of existing resources for Year 2000
remediation has been or will be materially detrimental to the
completion of other significant IT projects. The Company
purchased specific Year 2000 upgrades with respect to certain
third party software applications. The aggregate cost of these
upgrades through March 31, 2000 was approximately $75,000. In
addition, the total cost incurred to make the Company's network
Year 2000 compliant was approximately $25,000. The Company does
not believe that any future expenditures related to Year 2000
compliance will be significant.



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



"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.


Item 3.     Quantitative and Qualitative Disclosures about Market
            Risk

  During the quarter ended March 31, 2000, there were no material
changes in the information called for by this item from the
information contained in Item 7A of the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 1999.


                  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 20, 2000 between
                the Company and John J. Macht.
       10.1     Stock Option Contract dated as of April 20, 2000 between
                the Company and Raymond Vise.
       10.2     Stock Option Contract dated as of April 20, 2000 between
                the Company and Mark Abramowitz.
       10.3     Employment Agreement dated as of April 1, 2000 between the
                Company and Eric Luft.

       27.0     Financial data schedule.


(b)Reports on Form 8-K.
   During the quarter ended March 31, 2000, the Company filed a
   Current Report on Form 8-K dated March 16, 2000 with respect
   to an event reported under Item 5 - Other Events.




                          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/ Jerold R. Kassner
                                 _____________________

                                 Jerold R. Kassner
                                 Senior Vice President,
                                 Chief Financial Officer
                                 and Treasurer


Date:    May 10, 2000