Set in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
Carolee Appoints New Creative Director
The costume jewelry label is recrafting its image and venturing into higher price points.

New York—Costume jewelry company Carolee has gotten a makeover for fall.
The brand, which is carried in major department stores such as Bloomingdale’s and Macy’s, has hired a new creative director, Biagio Galotti.
The Gucci and Swarovski design alum is incorporating “elevated materials,” like freshwater pearls, high-shine metals, colored gemstones and cubic zirconia, as well as “the latest production techniques” into the Carolee product, the company said.
Galotti’s influence extends beyond product design, also encompassing Carolee’s marketing, advertising and sales strategy.
His first full collection for the company will be released in 2019. In the meantime, Carolee is already rolling out revamped product for fall, geared toward the fashion-forward and sophisticated-yet-youthful consumer. It’s also debuting a new logo, packaging and e-commerce platform.
Additionally, starting with the fall 2018 collection, all product will be stamped with a “C” logo.
Carolee also will introduce a higher price-point capsule collection twice year, beginning with holiday 2018. It will start at $25 for freshwater pearl stud earrings and top off at $250 for necklace styles.
Carolee Friedman started Carolee in Greenwich, Connecticut in 1972, creating affordable jewelry for the modern woman.
Brooks Brothers Group acquired the company in 2001. Its jewelry division, Deconic, created in 2017, now manages Carolee as well as other jewelry brands, like Alexis Bittar.
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