Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Spence Diamonds Names Veeral Rathod New CEO
The newly-appointed CEO chatted with National Jeweler about his plans for the retailer and his push for more education on lab-grown diamonds.
Dallas—Spence Diamonds has named Veeral Rathod its new CEO effective immediately, the diamond retailer announced Tuesday.
Rathod joined the Vancouver-based retailer—which specializes in both lab-grown and mined diamonds—in September 2018 as its chief marketing officer, but the company said it always planned to put him in the top spot.
“Elevating Veeral to CEO is the culmination of the plan we’ve had for him since day one,” said executive chairman Eric Lindberg in a statement.
Jim Schneider, who served as president since the company’s acquisition in 2015, has made his exit after moving to California.
There are no immediate plans to hire a replacement chief marketing officer, but Rathod confirmed to National Jeweler that a marketing team will be built out over the next few months.
He brings to his new role a strong background in consumer retail and luxury goods.
He holds a bachelor’s degree in international relations and economics from the University of Pennsylvania, and previously worked in the financial sector, serving as vice president at Greenhill Cogent and as an M&A analyst at Credit Suisse First Boston, Technology Group.
“I like to lead from the front and get to know the business from the inside out,” he said of his management style.
Prior to his time at Spence Diamonds, Rathod served as the CEO of J. Hilburn, a men's lifestyle brand, which he co-founded in 2007.
Rathod noted that menswear and the jewelry industry are similar in the sense that both are long overdue to be updated and ripe for innovation.
J. Hilburn offers custom suiting, and everything from shirts and jackets to shoes and neckwear.
Spence Diamonds similarly offers customized and personalized products, made-to-order and delivered in about a week.
Rathod said he wants to reimagine the jewelry retail space through education about lab-grown diamonds, aiming to appeal to younger consumers looking for more value for their money.
“Retail is not a passive, transactional experience,” said Rathod, stressing the importance of educating the consumer.
Spence Diamonds employees go through GIA certification as well as an internal training program, said Rathod, preparing them to explain the differences between natural and lab-created diamonds and answer any questions a customer may ask.
While Rathod said he’s indifferent to whether customers choose a natural or lab-grown diamond, shoppers deserve to make an educated choice between the categories.
About 80 percent of Spence’s in-store customers choose lab-grown over natural diamonds after discussing both options, he said.
The retailer has eight locations in Canada and
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.