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Major Retailers to Carry New Lab-Grown Jewelry Brand

The line ‘appeals to ethically-minded shoppers.’

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Sales prices for the Grown With Love collection range from $500 to $10,000.

Richline Group, a wholly owned subsidiary of Berkshire Hathaway, announced that its new lab-grown jewelry brand, Grown with Love, is launching at JCPenney and Macy’s.

Grown with Love is “a collection of jewelry that appeals to ethically-minded shoppers without sacrificing the beautiful sparkle and scintillation that every woman desires in her diamond jewelry or engagement ring,” according to a Richline press release.

“By choosing a lab-grown diamond, future bridal and fashion customers now
have a new, conscious choice, and can get a larger or higher quality stone for the
same price,” said Michael Milgrom, senior vice president, product, of Richline. “And with the most popular season for proposals – and shopping – just around the corner, this partnership is destined to shine.”

Grown with Love features bridal jewelry including solitaire and halo engagement rings, wedding bands and bridal sets as well as a small selection of non-bridal items, including diamond earrings and necklaces. Diamonds in the Grown with Love line are certified by the International Gemological Institute.

Sale prices for the collection range from $500 to $10,000.

“What is most interesting and exciting about this category is that it is filling
several needs for consumers and aligning with their values,” said Lindsey Scarlata Woodruff, vice president of marketing at Richline. “In many cases it offers a higher quality stone for the same money, which is important as expendable incomes are down, people are choosing to spend their money in different ways, and expectations for value are high. This also appeals to a ‘conscious consumer’ who is seeking purchases that ethically align with their beliefs.”

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Over the years, INSTORE has won 76 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Marie Antoinette’s Jewels Sell for $36M

Other key items sold in the $2M+ range.

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This pearl and diamond pendant sold for $36 million at auction.

A pearl and diamond pendant that was owned by Marie Antoinette, queen of France, who died in 1793, sold at auction for more than $36 million, CNN reports.

Sotheby’s had touted Marie Antoinette’s collection as “one of the most important royal jewellery collections ever to come to auction.”

The pendant had been predicted to sell for only $1 million to $2 million. The sale took place in Geneva.

The sale resulted in a new auction record for a natural pearl, according to Sotheby’s.

According to CNN, other items in the collection that sold for significant amounts included:

  • A pearl and diamond necklace ($2.2 million)
  • A diamond double-ribbon-bow brooch ($2.1 million).
  • A “monogram ring with woven strands of Antoinette’s hair” ($440,000).

Read more at CNN

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‘Pink Legacy’ Diamond Sells for $50M, Setting Per-Carat Price Record

It was sold by Christie’s in Geneva.

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The Pink Legacy, an 18.96-carat fancy vivid pink diamond, sold for $50.4 million in the Magnificent Jewels auction on Nov. 13 at Christie’s in Geneva.

It was promptly renamed The Winston Pink Legacy by its new owner, Harry Winston.

“The saturation, the intensity of this stone is as good as it gets in a colored diamond,” said Rahul Kadakia, international head of jewelry for Christie’s. “To find a diamond of this size with this color is pretty much unreal. You may see this color in a pink diamond of less than one carat. But this is almost 19 carats and it’s as pink as can be. It’s unbelievable.”

While most pink diamonds exhibit a colorr modifier like purple, orange, brown or gray, the Pink Legacy shows no trace of a secondary color, according to a Christie’s press release. Its even color distribution, combined with a balanced saturation, tone and straight pink hue, qualify the 18.96 carat diamond for the “fancy vivid” color grading from the Gemological Institute of America.

Only one in 100,000 diamonds possess a color deep enough to qualify as “fancy vivid,” and the Winston Legacy set a record price per carat for a pink diamond, according to the release.

In the fancy vivid pink range, diamonds of more than five or six carats are rarely encountered. In fact, fewer than 10 per cent of pink diamonds weigh more than one-fifth of a carat. In the saleroom, fancy vivid pink diamonds over 10 carats are virtually unheard of — in over 250 years of auction history at Christie’s, only four such stones have ever appeared for sale.

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CEO of Major Jewelry Chain to Retire; New Chief Named

The president and COO has been promoted.

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SEATTLE, WA – Ben Bridge Jeweler, which has 95 stores in 11 states and one Canadian province, announced that Chairman and CEO Ed Bridge is retiring effective Jan. 31, 2019.

Current President and Chief Operating Officer Lisa Bridge has accepted a promotion to president and CEO. Having served as the first female president of Ben Bridge Jeweler, Lisa Bridge will now continue her service as the fifth generation to run the company.

According to a press release from the company: “Upon retirement, Ed Bridge will leave behind a 45-year legacy of honor, leadership and achievement including serving as chair of Jewelers of America and Jewelers For Children, board member of the Jewelers Vigilance Committee and the Jewelry Information Center, VP of the Jewish Federation of Greater Seattle and chair of the Seattle Victims Fund, board member of both the University of Washington Hillel and Tyee Club.”

He has been the recipient of the AGS Lifetime Achievement Award and numerous other honors, including being inducted into the National Jeweler Retailer Hall of Fame, according to the release.

“It has been an honor and privilege working with our associates to create incredible moments and touch the lives of so many customers,” Ed Bridge said. “I cherish the relationships I have with our team and the treasured friendships with our many industry partners. I feel thankful to have had the best mentors and bosses one could ask for in my father Bob Bridge, my uncle Herb Bridge and Berkshire Hathaway’s CEO Warren Buffett. I had the pleasure of working with my cousin Jon Bridge as my partner for 28 years before he retired last year. It brings me great joy to know the company will be in such capable hands.

“Lisa will surely propel the business into its next phase and a bright future.”

Lisa Bridge said: “I am endlessly grateful to have had the opportunity to work with and learn from Ed and the generations before me. They have been generous with their wisdom and perspective and will continue to be an inspiration. I am humbled to be stepping in to this role, and I am excited to build a bright future with our incredible team. My mission as CEO is to help our customers celebrate wonderfully meaningful and joyful moments in their lives through the power of jewelry.”

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