(BRK.A), (BRK.B)
Berkshire Hathaway’s Richline Group, a wholly-owned subsidiary of Berkshire Hathaway, today announced its new jewelry brand, Grown with Love, is now available inside select JCPenney fine jewelry departments and at JCPenney.com.
Richline Group is touting the product as conflict-free lab-grown diamonds, Grown with Love is aimed at ethically-minded shoppers that still want diamond jewelry or an engagement ring.
“By partnering with JCPenney, a leading retailer with one of the most renowned fine jewelry departments in the industry, we’ll be able to introduce Grown with Love to shoppers across the country,” said Michael Milgrom, Senior Vice President, Product of Richline Group. “By choosing a lab-grown diamond, future bridal and fashion customers now have a new, conscious choice, and can get a larger or higher quality stone for the same price. And with the most popular season for proposals – and shopping – just around the corner, this partnership is destined to shine.”
As the name implies, these diamonds are grown in a lab and are chemically, physically and optically identical to mined diamonds. The stones are, by nature, conflict-free and made with clean technology. Lab-grown diamonds follow the same grading standards as mined diamonds and are evaluated based on cut, color, carat and clarity. Now, customers have a fifth “c” to consider when purchasing a diamond – choice.
Grown with Love features a curated collection of bridal jewelry including solitaire and halo engagement rings, wedding bands and bridal sets as well as a small selection of non-bridal items including diamond earrings and necklaces. All diamonds in the Grown with Love line are certified by the International Gemological Institute, which uses a scientific system to evaluate a diamond’s cut and then issues a certificate documenting the characteristics of the stone. The fine jewelry professionals at JCPenney will receive dedicated diamond training on the integrity, grading and analysis of these precious lab-grown stones. Sale prices for this collection range from $500 to $10,000.
“By bringing Grown with Love into the JCPenney fine jewelry department, we are filling a void in our assortment for lab-grown diamonds. These unique diamonds are growing in popularity and by offering her this option for bridal jewelry, we are appealing to a new customer base,” said Pam Mortensen, senior vice president of merchandising for JCPenney. “Grown with Love fits nicely within our larger Modern Bride concept that offers today’s bridal customer an expansive assortment of engagement jewelry for any budget.”
Shoppers will find Grown with Love displayed in all-new vignettes within the JCPenney fine jewelry department along with new signage and graphics to educate customers about the difference between lab-grown and mined diamonds. Grown with Love will be promoted via JCPenney direct mail, email, social and digital marketing channels.
© 2018 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.