The fast-casual chain partnered with Anna Sheffield’s Bing Bang NYC brand on a capsule collection and it’s a little “extra.”
Judge Approves Sale of A. Jaffe to Paramount Jewels
Paramount paid $5.2 million for the diamond jewelry company’s name, intellectual property, design patents, accounts receivable and some inventory.
New York—A federal bankruptcy judge gave the OK Wednesday for Paramount Jewels to buy A. Jaffe, the latter’s CEO Sumay Bhansali confirmed to National Jeweler.
Following the sale, the New York-based diamond jewelry company will operate as its own entity, independent of Paramount Jewels.
Bhansali will stay on board as CEO, with Sam Sandberg as chairman, and the company will retain its employees.
Paramount Jewels is a subsidiary of Parag Diamonds (d/b/a Paramount Gems), the company that won the first auction of A. Jaffe’s assets held in May, agreeing to pay $8 million for the diamond jewelry brand. That sale was halted by the judge and ultimately withdrawn.
This time around, Paramount Jewels bid $5.2 million for A. Jaffe’s name, intellectual property, design patents, accounts receivable and a portion of its inventory, with an additional $1.2 million in inventory sold off separately to Jewelex Diamonds, GBC, Diamonds International and Amipi Inc.
Additional non-core assets of A. Jaffe are set to be sold at a later date.
A. Jaffe was one of three U.S.-based companies that were part of the empire of Nirav Modi, the billionaire diamantaire wanted for allegedly cheating Punjab National Bank out of nearly $2 billion.
The companies filed for Chapter 11 bankruptcy protection earlier this year in order to distance themselves from Modi and because their source of supply—Modi’s factories in India—shut down in the wake of the scandal.
The Latest

The diamond and tanzanite bracelet was inspired by the waves of the Italian gulf near Genoa.

De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.

The home improvement store’s website features an “Empowerment Tools” demi-fine jewelry collection.


The show will feature a new pavilion of 30 jewelry designers and manufacturers from Surat, India.

A government official said search crews “found the needle in the haystack” when they located the capsule belonging to Rio Tinto along an 870-mile stretch of road.

De Beers is sharing over 130 years of experience and expertise through the De Beers Institute of Diamonds with a selection of courses.

Amanda Gizzi welcomes February with a selection of amethyst jewelry, a birthstone that “deserves its own time to shine.”

Behind the playful and nostalgic brand lies deeper meaning.

The Time Century Jewelry Center is located in downtown Miami’s jewelry district.

Wariness about the year ahead offset a more positive view of the current economic situation.

It begins with a “t” and ends with a “c” and is imbued with warmth and positivity, Peter Smith writes.

The tiny capsule, which is believed to have fallen out of a truck, was lost somewhere along an 870-mile stretch of desert road.

The Italian luxury brand will receive the first Gem Award for High Jewelry Excellence.

Industry veteran Kevin Lane has stepped into the role.

The ancient Egyptian teenager was buried 2,300 years ago with 49 amulets to guide him through the afterlife.

The NRF’s annual survey shows that consumer attitudes about how, or even whether, to celebrate Feb. 14 continue to evolve.

Nominations are open now through March 24.

A column detailing how independent jewelers did last year and the top watch brands of 2022 were among the most-read stories last week.

Acquired in 2021, the brand’s high jewelry sales have doubled and its new “Lock” collection was an instant hit.

Executives from Fred Meyer Jewelers and Riddles Jewelers have filled the roles.

The Victorian-inspired design is a functional lock and key.

For over 100 years, JA New York has played an integral role in facilitating the evolution of our industry, while also honoring past traditions.

The trend forecaster and her guests explored unconventional jewelry designs, NFTs, AI art, and more during her Trendvision presentation.

The Emerging Designers Diamond Initiative provides diamond credit and mentorship to young brands helmed by BIPOC designers.

It will be located in San Antonio’s Alamo Quarry Market and will be Lee Michaels’ third location in the city.