White Pine Adds Fine Jewelry Division

(IDEX Online News) – White Pine Trading LLC, which deals in recycled diamonds, has launched a new Fine Jewelry division with the aim of giving retail jewelers across North America unprecedented access to inventory.

“Backed by an expanding, national acquisitions team and a growing sales team of 15 industry veterans, the new division has a straightforward mission,” said White Pine CEO Benjamin Burne. “We want to create opportunities for jewelry retailers to enhance their profits. Toward that end, our acquisitions team is crisscrossing North America to uncover new opportunities for our retail industry customers.”

“Our team is interested in the gamut of opportunistic acquisitions. In fact, White Pine has already acquired product from several hundred manufacturers over the past few months, including inventories from the Bauman-Massa and JewelAmerica bankruptcies,” noted division head Dominic A. Mainella.

"White Pine’s buyers are also seeking diverse inventory—everything from basics such as diamond stud earrings, to high-end pieces fit for New York’s Madison Avenue or 'The Red Carpet,'" Mainella explained.

“The aim is to bring this product to retailers at prices substantially lower than what they would typically pay when purchasing directly from manufacturers. All acquisitions are carefully selected to ensure uniqueness and value, creating larger profit margins for retailers. Additionally, every item is inspected by our quality control department.”

The firm said that the new service has already assembled one of the largest surplus inventories of branded bridal jewelry in North America. “We are now offering several of the top performing bridal lines at significantly below authorized dealer cost,” Mainella said. “Given the quantities involved, this limited opportunity is unprecedented in the industry.”

Mainella added that White Pine was seeking to recruit veterans "who think of themselves almost as in-house buyers for their customers. If 45 luxury brand watches come in tomorrow at 20 cents on retail, I’ll call the retailers who I know have a strong strategic interest in the opportunity. In other words, we act as the eyes and ears of our customers. We don’t look to just fill orders.”