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Friday, January 27, 2017

Ritani Names Deborah Fine As New CEO

Ritani, a designer and manufacturer of engagement rings and fine jewelry with a vertically integrated, omnichannel sales model, has hired Deborah Fine as its chief executive officer. Fine, a veteran omnichannel executive, begins immediately and will split her time between Ritani’s Seattle and New York operation centers.

Fine replaces Brian Watkins who left Ritani in July, 2016, for what was reportedly described as personal reasons. 

Omnichannel relates to a type of retail that integrates different methods of shopping available to consumers, such as online and through a physical store.

Fine’s career transcends several industries, including consumer retail, fashion and beauty, lifestyle and media. She was previously the CEO of Direct Brands, the largest member- based retailer of media products in the U.S. president of iVillage, an NBC Universal company that was the first and largest media company dedicated to women online, CEO of Victoria’s Secret PINK, founder and president of Avon Mark Cosmetics, VP and publisher of Glamour magazine and publisher of Brides magazine.

“Deborah has demonstrated an impressive track record of leading best in class retail and media businesses and delivering significant results. Her experience and vision will help propel the growth strategy of the Ritani brand, as it seeks to gain market share in the omnichannel fine jewelry market,” said Henrique de Castro, head of Cantor Ventures, an investor in Ritani.

“I’m excited to join Ritani and lead the business in its next stage of development,” Fine said. “Ritani was the first to launch a true ‘clicks and bricks’ model in the category … Ritani’s legacy of craftsmanship, business model innovation, and the ability for consumers to design their own merchandise are strong pillars for growth. I look forward to working with the team here to continue to innovate and increase our market share across all relevant categories.”

Ritani designs and manufacturers bridal and fine jewelry and distributes its product through a network of 250 independent retailers through a “clicks-and-bricks” approach, where consumers can design their own engagement ring online and then have the ring shipped to a nearby jewelry store to preview in person. 

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