Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Pre-Owned Jewelry Companies Mondiamo and Circa Merge
The newly-formed company will combine Mondiamo’s digital platform with Circa’s physical presence.
New York—Pre-owned jewelry buyers Mondiamo and Circa announced a merger Monday, joining forces to claim a bigger piece of the secondary luxury market.
The financial terms of the deal were not disclosed.
Each company will retain its name, a Mondiamo spokesperson confirmed to National Jeweler Tuesday.
Mondiamo valued the global market for pre-owned luxury jewelry and watches at $8 billion per year, projecting annual growth of 6 to 9 percent in the next few years.
The company said “sustained growth” in the market has been driven by consumers warming up to “recommerce” and the availability of digital platforms for buyers and sellers.
Circa’s specialty is in-person transactions through 12 physical locations, including offices in New York, Los Angeles, Madrid and Hong Kong.
Mondiamo, on the other hand, operates via a digital platform, offering customers cash for their jewelry sight-unseen and has an exclusive referral agreement with Blue Nile.
It was founded in 2017 by New York-based venture capital firm Adama Partners, which partnered with Bain Capital and Bow Street to take Blue Nile private in 2017.
Adama Partners co-founders Oren Schneider and Ori Levy will head the combined company, with Schneider as CEO and Levy as executive chairman. Circa founder Richard Tilles will serve as president.
“By combining Mondiamo’s scalable business model, digital capabilities, data-driven processes and operational expertise with Circa’s jewelry knowledge, physical locations and brand equity, we plan to build the best global proposition for sellers of high-end jewelry and luxury watches,” Schneider said in a press release.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show