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RAPAPORT...
Christie’s New York sale of Magnificent Jewels totaled $49,993,175 and achieved strong sell-through rates of 87 percent by lot and 93 percent by value. Rahul Kadakia, the head of jewelry for Christie’s Americas and Switzerland, describes the top lots in the Rapaport News broadcast. This past week, Ritani --a designer of engagement rings and fine jewelry-- unveiled a new ecommerce website linked with a network of premium local U.S. jewelers to unify consumers’ online and in-store engagement ring purchase experience. With $15 million in new funding led by Cantor Ventures, a newly formed Seattle-based ecommerce team, mine-to-finger diamond sourcing and jewelry manufacturing in New York, and partnerships with jewelers nationwide, Ritani now offers consumers an all-encompassing clicks-and-bricks experience, according to the brand. “First generation online engagement ring shopping focused on presenting vast selections at the lowest price. This missed the opportunity to fulfill a customer’s natural desire for personal service during one of life’s most important purchasing decisions,” said Brian Watkins, the newly appointed president of Ritani, whose prior ecommerce and retail experience includes Blue Nile, Nordstrom, and Bain & Company. “The next generation jewelry retailer will not only deliver selection and value, but will go further. They’ll seamlessly combine online and in-store shopping to create an experience that today’s customer demands.”
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