Jewelry

[newjerseygirl]

The sale was for $22.5 million.

[nomless]

Newjersygirl, yes, you're right, it was 22.5 million.

I was so stunned by the post that said she sold for 22,500 million (aka 22.5 billion), that I googled it for confirmation. I saw several stories saying that the sale was for 22.5 million.

Thanks for clarifying.

[Penellope]

As one poster said, you don't usually see high end designers close up shop and retire. The businesses are usually carried on, even if they are sold. JR's family was in the business, so why didn't she leave it to them to run? I think JR miscalculated the effect her Q line (and Sam's Club line?) would have. The prestige of her couture business was badly damaged and she needed to sell out in order to cash in on the remnants. It's a shame. I recently bought a bracelet from her newer Q designs. The quality is night and day different.

[blackhole99]

Most of us could never afford even one piece of JR jewelry from one of her stores, so I thank her for bringing her sterling silver line to QVC. I did collect a few pieces from QVC over the years and could tell there was a difference in the weight of the silver, but the designs were just as nice and the quality is still very good. I'm glad for her that she made out on the sale of her brand, she certainly deserves it considering all her hard work and risk over the years.

[Beach Baby 1]

JOJO and Blondelle.....JoJo, thanks for the most current store closings. It must have been hard to close her Madison Avenue and LI stores since those were her first built with sweat equity. And, I didn't know she was early 70s, she looks great and she is a brilliant business woman. Blondelle...i was informed about SAMs and a lot of things by the jewelry buyer for SAMs and through a person in the know on JR. Blessings to you both!

[Blondelle]

On 1/12/2015 nomless said:

Blondelle wrote:

> She actually sold the company and intellectual rights for $22,500 million.

Yowza. $22,500 million = $22.5 billion. I knew she sold the company, but I had no idea she got more than 22 billion for it. Wow. She did great!! Congratulatios, JR!!!

Sorry, meant 22.5 million. Bad head cold clogging up my brain too! I would have thought it was worth more but she did get stock and a royalty arrangement. I just hope they see how many pieces sell when they lower the price as clearance, and lower the prices across the line. The problem is she took her couture designs such as the pearl system, and the leather and braided cords and dumbed them down for QVC. The pieces I've seen recently on her FB page are totally different from QVC and stunning. I think as long as there's no design crossover her prestige line should continue to sell well. People spending that much don't want to see a QVC knockoff of their high end purchase.

[ellaphant]

Sold out?? Hardly! She's in her 70's and has clearly made a smart business decision...And many fine 'labels' are owned by conglomerates.

[Blondelle]

Blondelle...i was informed about SAMs and a lot of things by the jewelry buyer for SAMs and through a person in the know on JR.

Thanks waterbaby! I'm sorry to hear that a line was created just for them. It just dilutes the brand too much. I guess it's no different from creating a line for QVC but that line has more prestige than Sam's Club, a lower end discounter. It just further destroys and remnants of her line being prestigious if it's there. Being sold by 3rd party sellers at Sears, and Costco, doesn't help matters either. I woman buying a $10,000 JR bracelet doesn't want to see the same JR name at Sam's club. They are getting greedy and destroying the brand's higher end image which is so important!

[jewelfool]

Judith posted on Facebook today that her line will be sild in boutiques in high end jewelry stores now...new looks for 2015.

[Maxine49]

On 1/11/2015 Sakuya said: Sold out? Isn't she in her 70s? When is a person allowed to retire? She sold her company and is still active with the line. I don't know how much designing she is doing. Maybe others are designing and she is approving or adding input. It doesn't matter to me. A person is allowed to enjoy the fruits of their labor.

I agree with you wholeheartedly; however, I don't think $22M was nearly enough---even double that was not enough, IMHO! She also got stock in the buyout company but that is always a gamble. She had bad business managers and bad negotiators. What's done is done.

I was shocked to see the Flagship store on Madison Avenue close---that must have been hard for Judith.