Menē jewelry, a company that transparently sells gold and platinum pieces for their intrinsic investment value, has raised $21 million in its Series A round of funding.The company — launched this November with GoldMoney Inc. chief executive officer Roy Sebag as cofounder, Diana Widmaier-Picasso as chief artistic officer and cofounder, and Anja Rubik as creative advisor — is looking to expand its resonance. With this funding, Menē will further its direct-to-consumer strategy with a physical retail presence. Presently the brand sells exclusively through its own e-commerce site.Menē sells pure 24-karat gold and platinum, sculpted into jewelry items of Widmaier-Picasso and Rubik’s design. Each item is assigned a price for its metal weight, with an added nominal fee for design, merchandising and personnel costs.“It was shocking to me that people buy jewelry that’s branded as gold, when it’s only 75 percent gold alloy and is 10 or 20 times higher than what you would pay for the pure gold bouillon itself,” Sebag said of his motivation to found the company. The brand sells an assortment of rings, necklaces, earrings, bracelets and pendants.He pointed to how gold jewelry in eastern countries such as India and China is weighed in-store for its price, as the inspiration for the brand’s laurels: “I founded Bitgold and I think if we have seen anything in the last decade, we’ve seen start-ups succeed when what they’ve done is show the consumer a better way of doing something or provided them with information that they were not privy to. They then feel empowered with this information.”The company’s products are manufactured in its own New Jersey facility. Sebag declined to provide sales data for the company’s first few months of business.Sebag has experience in the gold exchange market, as the founder of GoldMoney Inc. — a company that enables consumers to digitally purchase and trade gold assets. GoldMoney Inc. — listed on the Toronto Stock Exchange — serves as the parent company for Menē, and therefore the brand will begin to report its sales on a quarterly basis.Menē’s first round of funding includes investments from a suite of global entities, said the company. It declined to reveal their identities.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
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EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion