Articles and News

Lazare Kaplan Celebrates 110 Years By Giving Back

New York, NY—Lazare Kaplan International Inc. (LKI) is celebrating its 110^th anniversary by giving back to the community via two programs: its Lazare Ongoma Initiative (LOI) and its Hearts for Hope pendant. Marcee Feinberg, vice president, presented a donation on behalf of the company to The Five Rand Primary School  in Okhandja, Namibia, during a visit last week.

“We look to give a little something back to help with the challenges of life,” she said. “Helping one another is so important.”

The Lazare Ongoma Initiative was created in 2012 to raise awareness for a number of important causes in Africa, one of which is to improve and enhance every child’s educational experience in Namibia, one of the world’s largest gem diamond producing nations. Ongoma means “drum,” an instrument that makes a sound that’s an integral part of the Namibian cultural landscape. LKI and Ongoma is a collaboration to make music, to create noise, to beat that drum, to celebrate, and support the cause of education in Namibia.

Feinberg, center, with officials of the Five Rand Primary School

LKI began the Lazare Ongoma Initiative in conjunction with its Lazare Diamond Incentive Program, which rewards Lazare Diamond retailers and their sales associates who register sold Lazare Diamonds. These rewards are matched by LKI as a donation to the Five Rand Primary School.

Lazare’s “Hearts for Hope” pendant was designed to celebrate LKI’s 110^th  anniversary and also to add to LKI’s charitable donations. For every pendant sold during the Luxury/JCK shows, a $110 donation was made to Jewelers for Children (JFC) to support multiple causes that help children around the world. Additionally, for each pendant sold from June 10 through December 31, 2013, LKI will donate $110 to Lazare’s Ongoma Initiative.

Feinberg adds, “We at LKI thank everyone who helped contribute to the donations for JFC and our Ongoma Initiative. Children are our future and whatever we can do to make a difference in the life of even one child is worth it.”

Mark Vadon, Blue Nile Founder And Chairman, To Step Down

Seattle, WA--14 years after he set the jewelry industry's collective teeth on edge, Mark Vadon, chairman and founder of Blue Nile, has announced he will step down from his chairman's post at the end of 2013. In a conference call with shareholders last week, CEO Harvey Kanter said Vadon's decision to step down is a "reflection of the strength of the management team," and not a matter of any disagreements. The company plans no change in its strategy, according to reports.

Vadon founded Blue Nile in 1999 following his own attempt to buy an engagement ring. Dissatisfied with his experience in a brick-and-mortar jewelry store, he went online and discovered a site called Internetdiamonds.com. He was so impressed with the transaction and the experience that he bought both the ring and the company, later renaming it Blue Nile.

Since then, for better or worse, Blue Nile has changed the diamond and jewelry-selling landscape. For the better, by forcing jewelers to focus on the shopping experience and finding more distinctive merchandise; for worse, by driving further erosion of already-shrinking diamond margins. He had stepped back at one point, but resumed a more active role in Blue Nile again when former CEO Diane Irving departed.

Also during the call, Blue Nile reported its second quarter sales grew 19%.