National Jeweler Network

Market Developments

Circa CEO exits company indefinitely

2012-10-22

New York--Chris Del Gatto, CEO of jewelry-buying company Circa, has taken an “indeterminate leave of absence” from the New York-based company he founded in 2001, a Circa spokesperson said on Thursday.

In Del Gatto’s absence, Circa’s board of directors is managing the day-to-day operations of the business. The company said it recently opened a new office in Geneva and Beverly Hills, Calif., and has plans for new offices in Las Vegas and Madrid.

The company would not comment on the reason for Del Gatto’s leave of absence and didn’t answer questions about staff changes at the firm in the wake of Del Gatto’s apparently temporary exit, including reports that his significant other, model Veronica Webb, had left the company with him.

The company also did not answer questions on Webb’s potential future as a face for the brand.

Women’s Wear Daily reported in February that Webb and fellow model Elaine Irwin were set to star in Circa’s newest advertising campaign. The campaign would include a series of still-life images shot by Teru Onishi that portray “explosions of magnificent jewelry,” WWD reported.

Headquartered in New York, Circa is a buyer of fine jewelry from the public and is the U.S. distributor for Sector, a line of sports watches owned by an Italian company. Sector is the brand that named NBA player Kris Humphries as its spokesperson at an event held in New York City in November 2011.

Circa is backed by Chicago-based investment firm Winona Capital Management. The company invested $13 million in Circa in May 2011, according to a news release on Winona’s website.