It’s part of the Nirav Modi empire.
A. Jaffe, a jewelry supplier that is among the holdings of jeweler Nirav Modi, is being sold for $5.2 million, Rapaport News reports.
The buyer is Paramount Jewels.
A. Jaffe was part of a U.S. Bankruptcy Court filing in February. Modi’s Firestar Diamond Inc. and Fantasy Inc. were also included.
The bankruptcy filing came amid news that Modi was being investigated by Indian authorities in connection with a massive bank fraud case.
In May, Paramount Gems, an affiliate of Paramount Jewels, had been set to purchase A. Jaffe after placing the winning bid of $8 million, but the deal was canceled. A judge had delayed that deal, saying he needed more information about the value of A. Jaffe and the firm’s relationship with Modi, Rapaport explains.
Read more at Rapaport News
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Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
