Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Simon G. Unveils New Collection Straight from the Vault
It features tourmalines that have been stashed away for more than a decade.

The Glendale, California-based fine jewelry label founded by Simon Ghanimian and today led by his son, CEO Zaven Ghanimian, noted that recently, every colored gemstone jewel it shares on social media sells within 48 hours.
So the father-son duo decided it was only fitting they give the people what they want.
This week, the brand unveiled a special, limited-edition colored gemstone collection available exclusively on its website.
The 14-piece range features solely one-of-a-kind designs, featuring gems sentimental to the company.
They comprise green and pink tourmalines, as well as “watermelon tourmalines” showing a combination of the two shades, that have sat untouched in the private Simon G. vault for more than a decade.
The elder Ghanimian hand-selected the stones from rough in Brazil.
Together, father and son designed the collection of sleek, finished jewelry they felt best complemented such special stones.
To commemorate the special project, photographer Kat Irlin—whose work has appeared in outlets like Vogue, Harper’s Bazaar, and Vanity Fair—shot the collection’s campaign for SimonGJewelry.com and the brand’s social channels.
She photographed it in a lo-fi, retro-style campaign that channels the simplicity of summertime.
Each piece in the collection is crafted in 18-karat gold, with many accented with diamonds.
Priced between $2,530 and $6,600, the collection is available only through Aug. 9.
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