(NEW YORK) - White Pine Trading LLC, one of the world’s largest recycled diamond companies, recently announced the launch of White Pine Jewelry Solutions, a new division providing consulting and other services to retailers, manufacturers and wholesalers, and the industry’s asset-based lenders. The company named jewelry industry veteran Michael Lebowitz to lead the division, which will also design and manufacture pieces created from White Pine’s recycled diamonds.
“White Pine Jewelry Solutions marries our unique understanding of the recycled diamond market with Michael’s diverse experience in jewelry retailing, wholesaling, manufacturing and asset appraisals,” said White Pine CEO Benjamin Burne. “This combined knowledge base provides a powerful platform to benefit profitable businesses seeking to enhance their bottom line as well as firms looking to restore their profitability.”
The division’s broad range of services include inventory evaluation and appraisals; evaluation of business options, from store closing, consolidation or promotional sales, to overstock sales events; guidance on running special on-premises sales events or, if desired, hands-on management of the events; and development of event auction and quick sale programs using White Pine’s platform. The company’s sale platform is designed to maximize returns on excess inventory through the firm’s global network of buyers.
Those core services will be augmented by the division’s diamond jewelry manufacturing operations as well as an upcoming program to supply retailers with consigned close-out inventory drawn from White Pine’s wide range of vendors.
Mr. Lebowitz, who was named Director of Jewelry, joins White Pine with over 42 years of experience in jewelry retailing, wholesaling and consulting, most recently as Executive Vice President of Buxbaum Jewelry Advisors, where he directed store closings, promotional sales, inventory augmentation programs, wholesale auctions, and consulting assignments for retailers, wholesalers or their asset-based lenders. Previously, he served as a consultant to manufacturer M. Fabrikant & Sons, and held positions as a fine jewelry merchandise manager for Boston jeweler Shreve Crump & Low and a close-out buyer and asset appraiser at Gordon Brothers Corp. He began his career in 1970 with Lebowitz and Co., a family-owned jewelry store in Shrewsbury, Mass., where he was ultimately named Chief Operating Officer. Mr. Lebowitz is certified by GIA as a Graduate Gemologist and as an Okuda Certified Diamond Inspector.
“We are extremely excited to start working with Michael on these programs and are confident that his extensive experience, energy and industry knowledge will make this new division a resounding success,” Mr. Burne concluded.
About White Pine Trading
White Pine Trading LLC, one of the world’s largest recycled diamond companies, has offices in New York, Barcelona, Birmingham and Tokyo, and buyers across the United States, United Kingdom and Europe. The company buys recycled, polished diamonds of all sizes and grades, either loose or in second-hand diamond jewelry - from the smallest melee to diamonds one carat and above. White Pine remanufactures chipped, damaged and poorly cut diamonds to homogenize appearance. It uses a significant proportion of its diamonds in jewelry and resells the remainder to a network of retailers, jewelry manufacturers, diamond manufacturers and dealers, primarily in the United States and Asia.