Policies & IssuesFeb 26, 2025
EU Once Again Pushes Back Deadline on Diamond Traceability The EU, like the U.S., also now will require diamond importers to provide information about where exactly the diamonds were mined.
MajorsMay 11, 2018
Dennis Ulrich to Retire from Richline This Year
He’s stepping down after almost 11 years and will be succeeded by Richline President Dave Meleski.
New York--Dennis Ulrich is retiring as CEO of the Richline Group after almost 11 years in the position and 45 in the jewelry industry, the company announced Thursday.
Richline’s current president, Dave Meleski, will take over as CEO, with Ulrich staying on for “some time” to assist Meleski in the transition.
Ulrich started in the jewelry business in 1974 when he began working at the “original Richline” with his father, Mitchel, and his mother, Ruth.
In 1994, Ulrich and his wife, Liz, started Bel-Oro International, focusing at first on Italian jewelry, but over time growing the company to become the largest importer of gold jewelry from Italy, Israel, Turkey and other locations around the world.
Bel-Oro and Aurafin, which was headed by Meleski, were both purchased by Warren Buffett’s holding company, Berkshire Hathaway, in 2007 and merged to form the Richline Group.
Ulrich became the CEO of Richline, with Meleski as the president.
Under the leadership of Ulrich and with Berkshire Hathaway’s backing, Richline has expanded from primarily gold jewelry into pearls, diamonds and colored gemstones, while also adding units that manufacture tools, findings and raw materials.
The company has acquired custom jewelry website Gemvara, home sales jewelry company Silpada, manufacturer The Aaron Group and pearl company Honora, among many others, over the past decade and now has more than 3,000 employees worldwide.
In a letter to employees and friends shared by Richline, Ulrich wrote: “It has been a wonderful 45 years for me in the jewelry industry, sharing all the experiences with my wife, Liz, both my kids and all my associates. I am leaving Richline in the very capable hands of Dave Meleski … I am confident his leadership will bring Richline to many new and exciting successes in the future.”
More on Majors
The Latest
SourcingFeb 26, 2025
De Beers, Botswana Make New Diamond Sales Deal OfficialThe formal signing of the agreement comes nearly two years after De Beers and Botswana initially announced they had reached a new deal.
Events & AwardsFeb 26, 2025
JFC Names 2025 ‘Facets’ HonoreesThe charity will celebrate Pandora CEO Alexander Lacik and Brilliant Earth CEO Beth Gerstein at its annual event in Las Vegas.
Brought to you by
A Diamond ETF is the Way to Reinvigorate Natural Diamond SalesThe jewelry industry faces challenges from lab-grown diamonds. A diamond ETF can restore natural diamonds' value and drive investor demand.
ColumnistsFeb 25, 2025
Peter Smith: Here’s What I Think Retailers need to have the right merchandise, marketing, and people in place to stay on top in a sea of uncertainty, Peter Smith writes.
Weekly QuizFeb 21, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsFeb 25, 2025
Out & About: Visiting Tacori’s New Shop-in-Shop Senior Editor Lenore Fedow traveled to Smyth Jewelers in Maryland to see the first of 15 revamped in-store boutiques Tacori is rolling out.
CollectionsFeb 25, 2025
Michael B. Jordan Stars in David Yurman’s Spring CampaignThe company’s newest brand ambassador Eiza González will also be featured in the ads for the women’s campaign.
Brought to you by
Get Ready for the JA New York Spring ShowThis year will feature a new MJSA Showcase and partnership with Piazza Italia.
SourcingFeb 24, 2025
Colored Stone Market Update: Tracking Industry Trends in TucsonDeclining supply and growing demand persist in the colored gemstone market, presenters from Gemworld said at AGTA GemFair Tucson.
TrendsFeb 24, 2025
Renna’s Lobster Clasp Looks Like a Claw, Now It's Patented by LawThe designer’s new patent transforms the everyday clasp into her jumbo “Lobster Clasp,” modeled after the look of a crustacean’s claw.
Events & AwardsFeb 24, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
SourcingFeb 24, 2025
Diavik’s Production Down 17% in 2024 Sales at the Rio Tinto-owned mine also slid by a double-digit percentage, falling 37 percent in a difficult market for diamonds.
CollectionsFeb 21, 2025
Piece of the Week: Jade Ruzzo’s ‘Tennessee’ Oval Drop EarringsHeidi Gardner, an SNL cast member, wore the smoky quartz earrings on the “SNL50: The Anniversary Special” red carpet on Sunday.
SourcingFeb 21, 2025
Zambia Lifts 15% Export Duty on Gemstones, Metals The reversal comes less than two months after the Zambian government reinstated the tax in an effort to bring in more money.
SourcingFeb 20, 2025
Anglo Writes Down Value of De Beers by $2.9B As anticipated, Anglo took another impairment charge on the diamond miner and marketer, which saw revenue sink 23 percent in 2024.
SourcingFeb 20, 2025
Harry Winston’s Son Donates Fancy Red Diamond to the SmithsonianRonald Winston is giving the 2.33-carat “Winston Red” to the Smithsonian, 67 years after his father donated the Hope Diamond.
SourcingFeb 20, 2025
GJEPC Names New Chairman, Vice ChairmanKirit Bhansali, a partner in Smital Gems and chairman of India Jewellery Park, will take on the role of chairman.
IndependentsFeb 20, 2025
IJO Elects 4 New Board MembersAlisha Cornett, Nic Faini, Eric Stevens, and Seth Shipley have joined the organization’s board of directors for a three-year term.
CrimeFeb 19, 2025
Brink’s to Pay $42M After Admitting to Illegally Transporting MoneyThe company has to pay the Justice Department and FinCEN for violating the Bank Secrecy Act, the U.S.’s main anti-money laundering law.
SourcingFeb 19, 2025
Diamond Mining Company CEO Steps Down Amid Sales Slump, LayoffsPetra Diamonds Ltd. CEO Richard Duffy resigned as the diamond miner reported a 30 percent drop in sales to start its fiscal year.
ColumnistsFeb 19, 2025
The Smart Lab: Maximizing Your Jewelry Brand on PinterestPinterest is a potential gold mine for jewelry brands, Emmanuel Raheb writes, provided they follow these five tips.
MajorsFeb 19, 2025
Cartier Opens New Store Inside LAXThe boutique is the French luxury brand’s first airport store on the West Coast.
CollectionsFeb 19, 2025
Swarovski’s NYC Flagship Celebrates Ariana Grande CollabThe store’s facade now features the iconic swan logo and campaign images of the “Wicked” star.
Policies & IssuesFeb 18, 2025
New Customs Requirements for Diamond Imports: What We KnowBeginning in April, companies importing diamonds into the United States will have to list the country in which the diamonds were mined.
AuctionsFeb 18, 2025
A Menagerie of Fabergé Coming to Sotheby’sAround 30 whimsical Fabergé animal carvings will go up for auction at Sotheby’s Geneva in May.
SourcingFeb 18, 2025
Celine Assimon Stepping Down as CEO of De Beers JewellersAssimon will be leaving at the end of February after nearly five years with De Beers.
CollectionsFeb 18, 2025
Tabayer Debuts Its First Men’s Jewelry SelectionsDesigns from the brand’s “Oera” collection have been reimagined with modern masculinity in mind.
