Meet Audemars Piguet’s New North America CEO

Antonio Seward 

Luxury watch brand, Audemars Piguet, has named Antonio Seward as its new North America CEO, which became effective August 1. He replaced Xavier Nolot who held the position for four years. 

Seward joined Audemars Piguet in 2008 as managing director for Latin America and in 2010, moved to Madrid as CEO of Audemars Piguet, Spain and Portugal. From 2011 to 2013, he also oversaw the French market.  Most recently, Seward served as general manager, Audemars Piguet Southeast Asia. 

He began his career in the watch industry as a brand manager for a regional distributor for several luxury watch brands, including Audemars Piguet, in Latin America and the Caribbean. 

Born in London to Argentinean parents, a diplomat father and an artist mother, Seward holds a degree in History from Kings College, London, and a Masters in Political Science from the Institute of Political Studies Paris (Sciences Po).  His diverse multicultural background was further developed from living in international cities including Buenos Aires, Paris, Miami and Singapore. 

“My focus for the Americas will be to connect directly with our clients and implement innovative ideas in both our retail experience and distribution,” Seward said in a statement. 

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Embattled Signet Jewelers CEO, Mark Light, Resigns Due To ‘Health Reasons’

Signet Jewelers new CEO, Virginia “Gina” C. Drosos

Signet Jewelers Ltd., the world’s largest retailer of diamond jewelry, has named Virginia “Gina” C. Drosos as its new CEO, effective August 1. She will replace Mark Light, who served as CEO since October 2014. 

Light, who has been an executive at Signet for more than 35 years, is retiring due to “health reasons,” according to a company statement. 

Light has been struggling with allegations that stem from a class-action arbitration case dating back to 2008, alleging years of systemic, mass sexual harassment; and gender discrimination in pay and promotion. The case, which has now grown to 69,000 employees with these allegations dating back to the 1990s, was made public in February in a long, detailed Washington Post story that included interviews with some of the victims. 

Light was identified in the story, which reads in part: “Multiple witnesses told attorneys that they saw Light ‘being entertained’ as he watched and joined nude and partially undressed female employees in a swimming pool, according to the 2013 memorandum.”

The company denied the allegations at the time calling the Post story and subsequent press stories that followed, “distorted and inaccurate.” It reads in part: “(The) arbitration claim was brought against Sterling in 2008 that alleged gender discrimination in pay and promotion. None of the 69,000 class members have brought legal claims in this arbitration for sexual harassment or sexual impropriety. Since its filing, it has never included legal claims of sexual harassment or hostile work environment discrimination.”

At the time Light was head of Signet’s largest U.S. division, Sterling Jewelers, which includes the jewelry chain stores, Kay, Jared The Galleria of Jewelry and regional brands. This division currently makes up approximately 58 percent of Signet’s total sales.

“Given the company’s positive direction and my need to address some health issues, the board and I agreed that it is a good time for a transition,” Light said in a statement.

Drosos, a former beauty and consumer goods executive, has served as an independent director of the company’s board since 2012. She has nearly 30 years of executive leadership experience and previously served as president & CEO of Assurex Health and as a group president of Global Beauty Care at The Procter & Gamble Company. 

“She is a visionary and transformational leader with a proven track record of growing and scaling global businesses through winning strategies and innovation,” Stitzer said. “Gina’s experience brings a unique combination of demonstrated brand building, given her strong background in beauty, along with the creativity, flexibility and boldness of an entrepreneurial mindset. She also possesses a strong financial background, having managed multibillion dollar P&Ls through phases of high growth, while delivering cost reductions and operational efficiencies. As a member of the board since 2012, she is deeply familiar with Signet’s strategic vision.”

Drosos joined Signet’s Board of Directors in 2012, serving on the Compensation and Nomination and Corporate Governance committees. She is a member of the Board’s Customer Experience sub-committee focused on “OmniChannel” strategy and winning in fashion jewelry, as well as the board’s “Respect in the Workforce” committee focused on programs and policies to support the advancement and development of employees. 

Signet operates approximately 3,600 stores in the U.S., Canada and the U.K., primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. 

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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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Meet The New Montblanc CEO

Nicolas Baretzki

Nicolas Baretzki has been named the new CEO of Montblanc, effective April 1, 2017. 

Compagnie Financière Richemont SA, which owns the German luxury brand, made the announcement in a brief statement released late Tuesday. 

Baretzki will replace Jérôme Lambert, who has held this position since 2013. Lambert will move to Head of Operations at Richemont responsible for central and regional services and all its brands other than jewelry and watchmaking at Richemont.

No reason was given for the executive changes.

Baretzki joined Montblanc in 2013 as executive VP of sales. He has worked at Richemont brands since 2002. After graduating from HEC (Ecole des Hautes Etudes Commerciales) in Paris, he began his career at Cartier where he worked in various marketing and general management functions for eight years. He then moved to Jaeger-LeCoultre in 2002 and served as international sales director for 12 years.

“I am very pleased that Nicolas Baretzki will become the Maison’s CEO,” Lambert said in the company-issued statement. “Mr. Baretzki has played an important role in the successful development of the Maison in the recent years and will be the right person to ensure the continuation of this route.”

Compagnie Financière Richemont SA owns a number of luxury brands in jewelry, watches and other luxury categories. In addition to Montblanc, Cartier and Jaeger-LeCoultre, they include: Van Cleef & Arpels, Giampiero Bodino, A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin. 

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Tiffany Names Mark Erceg As CFO

Tiffany & Co. appointed Mark Erceg as its executive vice president and chief financial officer, responsible for the company's worldwide financial, indirect procurement and information technology functions.

Erceg, 47, will be based in New York and will report to Frederic Cumenal, Tiffany CEO. His appointment will become effective on October 18. He replaces Tiffany's former chief financial officer who left the Company in May to pursue another position with a different company.

Erceg was previously employed at Canadian Pacific Railway Ltd., where he has served as executive VP and CFO since May 2015. From 2010 - 2015, he was the CFO for Masonite International Corp. He began his career at Procter & Gamble in 1992 where, over 18 year period, he served in positions of increasing responsibility in finance, market strategy, customer response, general management and global investor relations.

"Mark brings an operational process orientation and a broad financial, international and consumer brands background to Tiffany," Cumenal said in a statement issued Tuesday. "As the new leader of our multi-talented finance, procurement and information technology organizations, his varied experience and global perspective will be important as we continue to work toward strengthening Tiffany's luxury brand position around the world and enhancing our profitability and productivity." 

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De Beers Has A New CEO, Bruce Cleaver

Bruce Cleaver

Bruce Cleaver has been appointed the next CEO of De Beers. The announcement was made Friday morning by Anglo American and De Beers and the appointment will take effect on July 1. 

Anglo American, one of the world’s largest mining companies, owns an 85 percent share of De Beers.

Cleaver, 51, will replace Philippe Mellier, who announced his resignation Friday after serving in the top position at De Beers for approximately five years. 

Cleaver served as De Beers’ executive director responsible for strategy and commercial relationships until 2015, also serving as co-acting CEO for a year prior to Philippe Mellier’s appointment in 2011. He was appointed group director of Strategy and Business Development for Anglo American in 2015. 

“Bruce's leadership of De Beers' strategy and its commercial and government relationships working alongside Philippe and over much of the last decade, combined with his time working with us to shape the new Anglo American strategy, provide strong continuity at an important stage in the diamond market's recovery,” said Mark Cutifani, chief executive of Anglo American and Chairman of De Beers. 

Philippe Mellier

Cleaver takes over for the diamond mining and marketing giant at a difficult time, as 2015 was diamond industry’s worst year since the global recession. A decline in consumer demand led by China caused excess inventory of the precious gem and led to an oversupply of diamonds. 

This year marked a mild recovery in diamond demand led by an increase in demand in the United States, which accounts for 45 percent of global diamond demand. 

“The structural dynamics of the diamond market continue to improve, led by the strength of consumer demand for diamond jewelry,” Cutifani said. “With the proven management team in place, De Beers is well positioned to maximize value for all its stakeholders across the diamond value chain.”

Cleaver added: “I am honored to be asked to lead one of the world’s great companies. Diamonds are as relevant to today’s consumers, all over the world, as they were to their parents and their parents before them. Diamonds have also made positive contributions to a host of countries that have used their revenues wisely, to communities and to all who have been touched by their mystique and the practical benefits of responsible mining and ethical sourcing. As the world continues to evolve ever more rapidly, it is our task to ensure that we remain as relevant as we are today and to grow our position in the luxury world.”

Mellier—who previously served as president as Alstom Transport, a French multinational conglomerate—was an industry outsider when he was appointed to lead De Beers in 2015. He said he had always planned to hold the top job at De Beers for five years. 

“Having steered through some of the diamond industry’s toughest times and with the market showing signs of recovery, now is the right time for me to pass the baton to the next generation. I have worked closely with Bruce Cleaver throughout and I have no doubt about his abilities and experience to lead De Beers on the next stage of its journey as the world’s leading diamond company.”

Cutifani noted that Mellier “has led De Beers with great agility, transforming the company’s strategic and operational mindset with a strong customer focus to ensure that consumer desire for diamond jewelry is at the very heart of decision making across the diamond pipeline. He has navigated through structural change and considerable market volatility over the last five years, while cementing De Beers’ unquestioned leadership position.”  

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Sabina Belli Becomes CEO of Pomellato Group

Sabina Belli, a veteran luxury brands executive, was named CEO of the Pomellato group. Kering Group, the French luxury goods holding company that owns a majority stake in the Italian company, which consists of the luxury jewelry brands Pomellato and Dodo, made the announcement Thursday. 

Belli replaces Andrea Morante who will leave the company by the end of the year “after having completed a harmonious handover period with the new CEO, as planned since the acquisition agreement,” Kering said in a statement. She will report to Albert Bensoussan, CEO of Kering’s Luxury – Watches & Jewellery division.

Belli joined Kering in April 2015 as general manager of the Pomellato brand. “She has a deep knowledge of the luxury sector and of the development of high-end products on an international scale,” Kering said. Previously, she held senior-level positions in the jewelry, wine and spirits, and cosmetics industries. As part of her new role, Kering said she will support Pomellato’s and Dodo’s development and strengthen their positioning globally, Kering said.

“Since she joined, she has demonstrated a deep knowledge of the brands and their organizations. I am confident that her professional background and expertise of the luxury sector will be of great value to the brands’ development,” Bensoussan said in a statement. 

Before joining Pomellato, Belli, an Italian national, was a longtime executive with the LVMH Group where she was most recently brand executive VP of Bulgari. She joined LVMH in 1996 where she was international brand director for the Christian Dior Parfums and image and marketing director for LVMH Moët Hennessy; before working as international brand manager for Veuve Clicquot Ponsardin from 2009 to 2012. She began her career in advertising. 

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Phillips Appoints Sam Hines International Head of Watches

Prominent watch specialist and authority, Sam Hines, has been named International Head of Watches for Phillips auction house. 

The international auction house recently established its watch department with Aurel Bacs and Livia Russo as its senior consultants. Phillips held its first watch auction since the early 2000s in May and reportedly doubled the total amount taken in by its closest rival during the week of horological auctions in Geneva.

While the watch department is based in Geneva, Hines will be heading Phillips’ global watch team from its recently opened Asian Headquarters in the Landmark Building in Hong Kong. The auction house also has watch specialists in London and New York.

Hines will work with Phillips’ watch team on the contents of the auctions in the fall season, including the November 8 sale in Geneva and the auction house’s inaugural Hong Kong sale on December 1. 

With 20 years experience in the auction world, Hines has held executive positions in New York and in Asia since 2008, spearheading many ground-breaking sales of important watches. In 2013 he was appointed International co-head of Christie’s watches department. Hines worked under Bacs at Christie’s. 

Highlights from Hines’ career include the discovery and sale of two previously unknown pocket watches from the third generation of James Ward Packard, achieving $2.7 million at auction in 2011, as well as curating the sale of Asia’s most expensive horological object; a pair of Singing Bird Pistols that sold for $5.8 million. He is also responsible for numerous auction records, including the sale of the only known Patek Philippe Star Caliber 2000 for $3.5 million, a Rolex cloisonné enamel wristwatch for $1 million and two sets of the Patek Philippe reference 5004 for $3.75 million.

“Sam has pushed the boundaries of watch collecting, expanding the awareness of the watch market to a vast network of established and emerging collectors. He has built his career on forming long term relationships with many of the world's watch collecting elite,” said Edward Dolman, chairman and CEO, Phillips.

“I proudly welcome my dear friend, Sam Hines. Sam has, without a doubt, the trust of the world’s key collectors and trade thanks to his unrivalled expertise, honesty, transparency and integrity. He is an important advisor to elite collectors, especially in Asia,” added Aurel Bacs, senior consultant, Bacs & Russo.

Hines was born in London and lives in Hong Kong with his wife and two daughters. He studied political science at New York University.

With Hines’ appointment, Phillip’s International Team of Watch Specialists now consists of:

Aurel Bacs and Livia Russo, senior consultants, Geneva

Nathalie Monbaron, business development Director, Geneva

Virginie Liatard-Roessli, department manager,Geneva

Paul Maudsley, international specialist, director of the London Watches Department, London

Kate Lacey, specialist, London
Paul Boutros, consultant and international strategy adviser, New York
Leigh Zagoory, cataloguer and junior specialist, New York
Jill Chen, business development director, Hong Kong 

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Randal J. Soto To Be Buccellati’s Next North American CEO

Buccellati Group has named Randal “Randy” J. Soto to be its next CEO North America of Buccellati Inc., effective September 1. He will report to Gianluca Brozzetti, Buccellati Inc. executive VP and Group CEO.

Soto previously served in top management roles for Tiffany & Co., Market VP Southwest Region, Harry Winston, VP of US Retail, and David Yurman. 

“We are confident that Randal’s extensive experience and client knowledge will greatly contribute to further develop Buccellati’s business in North America, which has been and remains one of the most important markets for our brand,” Brozzetti said in a statement.

Soto will replace the popular Alberto Milani, who resigned in early July, after 13 years of service with the high jewelry house. In a statement, Buccellati said Milani “contributed greatly to the expansion of our business in North America and the recent opening of our flagship stores on Madison Avenue and Bal Harbour.” 

Milani will remain as advisor to the Board of Buccellati Inc., managing special projects.

“We are thankful for Alberto’s vision and commitment to the development of Buccellati in the U.S.”, said Andrea Buccellati, president of Buccellati Group and chairman of Buccellati Inc. 

Buccellati, based in Milan, is one of the world’s most renowned high jewelry houses, celebrated for its craftsmanship, design, rare colorful gems, and one-of-a-kind pieces. 

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Gary Roskin Named ICA Executive Director

The International Colored Gemstone Association has appointed well-known gems and jewelry expert Gary Roskin as its executive director.

Roskin will start the new position August 4 and will work from ICA's New York office. He will be responsible for its day-to-day activities and development. He will report to the ICA Board of Directors.

Gary Roskin is a highly respected gemologist and journalist with extensive gems and jewelry industry experience. He established Roskin Gemological Services, which includes the well-known Roskin Gem News Report, and was the Gemstone Editor of BASELWORLD Daily News. In addition, he was formerly the senior gemstone editor of JCK magazine, and the executive director of the GIA Alumni Association.

“It is indeed an honor to be the new executive director of the ICA,” Roskin said. “ICA is a not-for-profit organization which promotes the understanding and appreciation of all aspects of the colored gemstones and jewelry industry. This is in line with my personal beliefs and relates to all of the things I have written about and have taught for decades.”

ICA President Benjamin Hackman said: “We are delighted that Gary will be joining the ICA in such an important position. There is no doubt that this pivotal role will enhance the work of the ICA, which is the leading worldwide organization in the field of colored gemstones and jewelry. ICA will benefit from Gary's vast experience in the industry: from jewelry to gemology and gemstones to diamonds. ICA’s Board of Directors and I are happy to welcome Gary to his new position.” 

The International Colored Gemstone Association, a non-profit organization, is the only worldwide body specifically created to benefit the global colored gemstone industry. ICA was founded in 1984 and is now comprised of over 600 gemstone dealers, cutters, miners and retailers from 47 countries who are devoted to advancing and promoting the knowledge and appreciation of colored gemstones.

ICA’s global network works to develop a common language for promotion and consistent business standards necessary to improve international communication and trade of colored gemstones.

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Hélène Poulit-Duquesne Named CEO of Boucheron

Photo credit: WtheJournal.com

Kering has appointed Hélène Poulit-Duquesne chief executive officer of Boucheron, effective September 28. 

The Parisian luxury jewelry brand is owned by Kering, the Paris-based apparel and accessories conglomerate. Poulit-Duquesne will report to Albert Bensoussan, CEO of Kering Luxury - Watches and Jewelry division. Bensoussan is the acting CEO of Boucheron following the April resignation of Pierre Bouissou, who held the position since 2011.

Poulit-Duquesne was previously the International Business and Client Development, director and member of the Executive Committee of Cartier International. The French luxury jeweler is owned by Swiss luxury conglomerate, Richemont.

In her role as CEO of Boucheron, her mission will be to pursue the development of the brand on an international scale and to reinforce its position among the most prestigious high jewelry houses worldwide, Kering said in a statement.

“I am convinced that her expertise in international development along with her extensive knowledge of the jewelry and watchmaking industries will greatly benefit Boucheron in its international reach,” Bensoussan said. 

Poulit-Duquesne, a French national, began her career at LVMH. In 1998, she joined Cartier International, where she gained growing responsibilities in marketing and business development in the watchmaking sector. In 2010, she was named international marketing director and member of the Executive Committee of Cartier (jewelry, watches and accessories). Since June 2014, she has held the position of International Business and Client Development director of Cartier International. She holds a degree from the French business school, ESSEC.

Kering owns brands in the luxury, sport and lifestyle retail categories. They include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, Puma, Volcom, Cobra and Electric. Kering is present in more than 120 countries, generating revenues of  approximately $11 billion in 2014.

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Pandora Names Anders Colding Friis as CEO, Peder Tuborgh as Board Chair

Anders Colding Friis 

Danish jewelry company Pandora is going through another round of leadership changes as it plans to appoint a new CEO and board chairman in the coming months. 

The company said Thursday that it will name tobacco company executive Anders Colding Friis as its fifth CEO since the company went public in 2010. He will succeed current CEO Allan Leighton in March 2015. 

Allan Leighton

In addition, Pandora said it plans to make Peder Tuborgh chairman of its board of directors in October. He will replace Marcello Bottoli, who announced previously that he will step down due to other professional commitments. 

The Denmark-based company with manufacturing facilities in Thailand is known for its popular charm jewelry and other affordable jewelry pieces. It is also known for raising approximately $2.1 billion in its IPO in October 2010, for incredible sales growth during its first three quarters as a publicly traded company followed by a sudden approximate 65 percent decline in its stock price based on a company report that dramatically reduced its outlook. 

The company has experienced steady growth in sales and stock value since then but its top executive position continues to be in constant change. 

Peder Tuborgh

In this case it appears Leighton’s turn as CEO was planned as a temporary move. He was already chairman of the jewelry company when he replaced Bjørn Gulden as CEO in July 2013. Gulden accepted a position as CEO of athletic apparel company, Puma. Bottoli also served a stint as CEO during the company’s time of turmoil.

Friis, 51, is a Danish citizen and since 2006 has been the Group CEO of Scandinavian Tobacco Group, the world’s largest manufacturer of cigars and pipe tobacco. He also is chairman of Monberg & Thorsen, deputy chairman of IC Companys, board member of Topdanmark and Confederation of Danish Industry.

Marcello Bottoli

Leighton will step down from his role as CEO after reporting Pandora’s full year results for 2014. At the next annual general meeting, Leighton is expected to be named the company’s co-deputy chairman of the board.

Tuborgh, 51, is a Danish citizen who holds an MBA from Odense University and has held a series of management positions in Arla Foods, an international dairy company, before becoming group CEO in 2005. He is also deputy chairman of Aarhus University and board member of Royal Greenland.

“A managed succession at the top of the company, at a time when its performance and opportunities have never been stronger, has been a key objective for the board,” Bottoli said. “I am delighted with the result and to have been an active part of this.”

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Tiffany & Co. CEO Michael Kowalski to Retire; Frederic Cumenal Named as Successor

Michael J. Kowalski

Longtime Tiffany & Co. CEO, Michael J. Kowalski, will retire effective March 31, 2015, the luxury jewelry retailer announced Monday.Frederic Cumenal, Tiffany president, has been tapped to succeed him.

Kowalski, 62, joined Tiffany in 1983, became its in 1999 and assumed the role of chairman of the board in 2003. He will continue to serve on the board in the role of non-executive chairman following his retirement. 

“I am immensely satisfied by what we have accomplished at Tiffany over the past 30 years, and I am confident that the company is superbly positioned for the future,” Kowalski said in a statement. “Frederic Cumenal is ideally suited to succeed me as chief executive officer, and we will continue to work closely together to ensure a seamless transition.”

Cumenal, 54, was named Tiffany’s president in September 2013, with responsibilities for worldwide sales and distribution as well as design, merchandising and marketing functions. At that time he was also appointed to a newly created seat on the Tiffany’s board. Cumenal initially joined Tiffany in March 2011 as an executive vice president with responsibilities for sales and distribution. He will succeed Kowalski on April 1, 2015.

Frederic Cumenal

“This is an extraordinary company with a fantastic heritage and an exciting future,” Cumenal said. “I am deeply honored to be selected as its leader and look forward enthusiastically to capitalizing on the many opportunities ahead.”

Prior to joining Tiffany, Cumenal held senior leadership positions for 15 years in LVMH Group’s wine and spirits businesses, most recently as president and chief executive officer of Moët & Chandon, S.A. He previously served as CEO of Domaine Chandon, and was managing director of Moët Hennessy Europe.

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Daryl Wickstrom To Lead Sotheby’s International Jewelry And Watch Divisions

Sotheby’s on Friday named longtime executive Daryl Wickstrom as international managing director of Sotheby’s Worldwide Jewelry and Watch Divisions. In this newly-created role, he will be tasked with expanding activity and growing sales in these areas, which experienced record results in recent years, the New York-based multinational company said in a statement. 

Wickstrom will work closely with David Bennett, Lisa Hubbard and Quek Chin Yeow, the company’s three Jewelry chairmen, Tim Bourne, worldwide head of Watches, and Patti Wong, chairman of Sotheby’s Diamonds, the company said. He will oversee activities in North America, Europe and Asia, as well as the company’s expanding Sotheby’s Diamonds retail business and related private sales activity.

The announcement was made by Bruno Vinciguerra, Sotheby’s chief operating officer. 

Wickstrom joined Sotheby’s in 1996 and was appointed executive VP and deputy chairman, Asia, in July 2008. He was instrumental in developing the growth strategy in Asia and particularly Sotheby’s expansion in China. During his time in this role, total sales in Asia surpassed $1 billion in 2011.

From 2002 through 2008 Wickstrom served as managing director of Sotheby’s Global Auction Division. During his tenure, he orchestrated many significant single-owner sales and helped launch of Sotheby’s Diamonds retail venture in 2005, the company said.  

In 2013, Sotheby’s saw its highest-ever annual totals for its jewelry and watch categories, with worldwide Jewelry sales achieving $529 million, and worldwide Watch sales reaching $97 million. This spring, Sotheby’s set new benchmark prices for: any jadeite jewel and any jewel by Cartier (the Hutton-Mdivani Necklace, $27.4 million); any yellow diamond and any jewel by Graff (the Graff Vivid Yellow, $16.3 million); and any ruby (29.62-Carat Oval Burmese Ruby, $7.3 million). In addition, world auction records were set this spring at Sotheby’s for several iconic models by Patek Philippe: any Ref. 5207P ($867,000); any contemporary time-only watch by the firm ($737,000); any Celestial model ($545,000); and any Ref. 5033 ($509,000).

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Gemvara Names Janet Holian CEO

Janet Holian

Gemvara, an online retailer of customizable fine jewelry, said Tuesday that it has extended Janet Holian’s role as interim CEO to a permanent position.

In Holian’s permanent role as CEO, “she will focus on distinguishing the Gemvara brand and seeing out founder Matt Lauzon’s vision to show consumers that jewelry customization leads to pieces that are uniquely personal and valued,” the company said in a statement.

The company added that Lauzon, "knew from the start of their professional relationship that she was the best person to lead the burgeoning jewelry company."

Prior to joining Gemvara in 2011, Holian spent 11 years at Vistaprint as president of the company’s European business, executive VP and chief marketing officer of Vistaprint USA, and various marketing roles for the corporation since being hired in 2000. 

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Frederic Cumenal Named President of Tiffany & Co.

Frederic Cumenal

Tiffany & Co. said Tuesday that it has named Frederic Cumenal as president and also appointed him to a newly-created seat on the company’s board of directors.

Cumenal, who was executive vice president responsible for international retail, joined the luxury retail jeweler in March 2011 as executive vice president with oversight for the Asia-Pacific, Japan, Europe and emerging markets. In 2012, the Americas region was added.

Prior to joining Tiffany he held senior leadership positions at LVMH Group, most recently as president and chief executive officer of Moët & Chandon.

“Frederic has made important contributions to the operational and strategic development of our business,” said Michael J. Kowalski, Tiffany chairman and CEO. “He has brought a global luxury perspective to our brand management initiatives and, in particular, has led the evolution of our regional organizations to support our continued worldwide expansion.”

In his new role, Cumenal, 54, will retain his regional responsibilities and will assume responsibility for Tiffany’s  design, merchandising and marketing functions. He will continue to report directly to Kowalski.

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Blue Nile Chairman to Step Down As Company Posts 5th Consecutive Quarter of Double-Digit Growth

Blue Nile Starlight Diamond Eternity Ring in platinum

Blue Nile, Inc. said Thursday that year-over-year net sales increased 18.7 percent to $108 million for the second quarter ended June 30. Operating income for the quarter totaled $3.4 million, representing an operating margin of 3.2 percent of net sales. Net income totaled $2.2 million, or $0.17 per diluted share. It’s the fifth consecutive quarter of double-digit growth, the company said.

In addition, the Seattle-based online retailer that specializes in diamonds and diamond jewelry announced that its founder, Mark Vadon, will step down from his role as chairman and director of the board effective December 31. Blue Nile President and CEO Harvey Kanter will assume the role of chairman.

"Founding and being a part of Blue Nile for the past 14 years has been a great honor, and I am tremendously proud of the entire team for fostering our culture of innovation and obsession over each and every customer," Vadon said. "After working with Harvey and his leadership team over the last year and seeing the impressive growth trajectory of the business, the entire board and I feel confident passing the chairmanship to Harvey to continue to build a global consumer brand."

"Mark revolutionized the diamond industry and founded Blue Nile on the principle that there is a better way to buy diamonds and fine jewelry by offering unique online tools, high quality diamonds, and incredible values," Kanter added. "That is and will always be his legacy, and the company will continue to execute his vision."

Non-GAAP adjusted EBITDA for the quarter totaled $5.5 million. For the trailing 12-month period ended June 30, net cash provided by operating activities totaled $26.1 million compared to $18.7 million for the prior 12-month period. For the same period ended June 30, non-GAAP free cash flow totaled $22.9 million, as compared to $15.6 million for the prior.

Other second quarter highlights include:

* U.S. engagement net sales increased 22 percent to $63.9 million.

* U.S. non-engagement net sales increased 11.3 percent to $27 million.

* International net sales increased 19.1 percent to $17.1 million. Excluding the impact from changes in foreign exchange rates, international net sales increased 20.6 percent.

*Gross profit totaled $20.1 million. As a percent of net sales, gross profit was 18.6 percent compared to 18.9 percent for the second quarter of 2012.

* Selling, general and administrative expenses were $16.7 million, compared to $14.9 million in the second quarter of 2012. This figure includes stock-based compensation expense of $1.3 million for the second quarter in 2013 and 2012.

* Earnings per diluted share included stock based compensation expense of $0.07 compared to $0.06 for the second quarter of 2012.

* At the end of the quarter, cash and cash equivalents totaled $47.3 million.

In its financial guidance, Blue Nile said it expects third quarter net sales are expected to be between $96 million and $100 million; and earnings per diluted share to run from $0.13 to $0.17.

For the 2013 fiscal year, net sales are projected to be between $440 million and $470 million; and earnings per diluted share are projected at $0.75 to $0.85.

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Mauboussin Appoints Thierry Chaunu As CEO

Thierry Chaunu

Luxury jewelry brand, Mauboussin, has named Thierry Chaunu as its new CEO for North America and the exclusive agent for Mauboussin North America, covering the US, Canada, Mexico and the Caribbean. He will be based at the company's flagship boutique on Madison Avenue and 63rd St., where he will lead the brand's expansion in jewelry, watches, fragrance, writing instruments, sunglasses and gifts.
 
Chaunu, considered one of the luxury goods industry's foremost experts and spokespersons, was most recently the CEO for North and South Americas for the Italian jewelry brand Damiani. He has 30 years of experience developing and expanding leading luxury brands.

Mauboussin, founded in 1827, is the second oldest jewelry brand at the famed Place Vendôme in Paris.

Chaunu began his jewelry career in the 1980s with Cartier as senior product manager in Paris, before being promoted and transferred to New York as VP of Marketing. In 1991 he joined Christofle as North America president, opening dozens of stores and retail corners. In 1999, he became president North America at Chopard where he opened several freestanding boutiques, key independent jewelry retailers and department stores, as well as establishing the brand at awards shows and on the red carpets with celebrities. 

In 2005, Chaunu became president & COO of Leviev Worldwide and launched the brand as a premier provider of large and rare diamonds, opening flagship boutiques in London, New York, Moscow, Dubai and Singapore and developed a wide collection of complication timepieces. In 2010, building on that success, Chaunu created a collection of Swiss chronographs for racing supercars Spyker and revived the Marina B jewelry brand, originally founded by Marina Bulgari.

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Signet Replaces CEO for UK Division

Signet Jewelers said Tuesday that Rob Anderson, CEO of Signet's UK division, will leave the company at the end of July. He will be replaced by Sebastian Hobbs who has been promoted to the new position of managing director for the UK division, effective immediately. Hobbs will report to Mike Barnes, Signet CEO.

The Bermuda-based company is the largest specialty retail jeweler in the US and UK with approximately 1,952 stores (1,449 in the US and 503 in the UK). Its retail chains in the US include Kay, Jared and Ultra Diamonds. In the UK, it owns and operates the H.Samuel and Ernest Jones jewelry chains.

“Seb has made important contributions to our UK division and we believe his experience in UK retailing and strategy make him a perfect fit for this role,” Barnes said.

Hobbs joined Signet's UK division as commercial director in March 2011. From November 2006 till March 2011, he was commercial director of Blacks Leisure Group. Prior to this, he was trading controller for WH Smith, a retail consultant for KPMG, and held management positions at Mothercare and British Home Stores.

Signet’s UK division has been struggling since the financial crisis. In its 2013 fiscal year, the division reported that sales fell 0.8 percent to $709.5 million. Same store sales increased 0.3 percent compared to an increase of 0.9 percent in Fiscal 2012. Sales performance was primarily attributed to lower traffic particularly in the fourth quarter.

By contrast, US division sales for the 2013 fiscal year increased 7.9 percent to $3.27 billion. Same store sales increased 4 percent for the year compared to an increase of 11.1 percent in Fiscal 2012.

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Buccellati Appoints New CEO

The Buccellati 18k “Star Collection,” necklace and earrings made of more than 1,700 white and yellow diamonds and 20 pieces of Imperial jade.

Italian luxury jewelry brand, Buccellati, has named Thierry Andretta as its new CEO, according to reports.

Andretta, was most recently CEO of the French couture house, Lanvin, where he doubled sales to more than 236 million euros during his four-year tenure. Prior to Lanvin, he worked in senior positions at Ungaro, Céline, Moschino and Gucci Group.

Monday's announcement came less than four months after Italian private equity fund, Clessidra, took a majority stake in Buccellati, Reuters reports.

Buccellati is known for its signature lace rings and necklaces (many one of a kind) worn by monarchs and movie stars. Some of its pieces sell for more than $1 million. Members of its founding family still design many of its pieces. The company also is known for not routinely lending its jewelry to actresses on the red carpets at high-profile events such as the Cannes film festival or the Oscar ceremony.

Andretta told  Reuters the brand will develop its watch business as well as its presence worldwide, particularly in new markets such as the Middle East and Russia.

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