NEW YORK — Sue Ann Newberg, vice president and divisional merchandise manager for fine jewelry and watches at Saks Fifth Avenue, has resigned.
Newberg said she would be "starting a new venture in January," but would not disclose details.
Under Newberg, who reported to Jennifer Dewinter, senior vice president and general merchandise manager, Saks revamped its fine jewelry departments. Newberg and her team filled the stores with fine jewelry accessibly priced from about $2,000 to $5,000 retail, from designers such as Links of London, M + J Savitt and Judith Ripka.
Saks also has Graff in-store shops in eight of its doors, including New York, Beverly Hills and Naples, Fla.
In October, the store launched its exclusive collection from Los Angeles jeweler Neil Lane. The line, which starts at $8,500, is being rolled out to key Saks locations.
"She's been very committed to her business and has a thorough understanding of what it takes to build designer brands," Janice Winter, president of Ripka, said of Newberg. "She has been a tremendous asset to Saks and always focused on what was right for business, even when they were tough calls. Jewelry has been such a growth category and she has been part of that."
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