The David Yurman Family Foundation has said it plans to donate $1 million to assorted coronavirus causes. This comes less than a week after the David Yurman jewelry brand furloughed a “majority” of its corporate and retail employees.
“The David Yurman Family Foundation has committed $1 million to COVID-19 related causes, starting with New York, which is particularly affected at this time. We sincerely hope this will lessen the impact to our neighbors and friends,” the Yurman family said in a statement about its donations.
The company specified that donations will be made to American-focused relief funds. The Yurmans intend to choose 15 charities “in the coming days and weeks,” that will receive a portion of funds.
This announcement comes as the Yurmans’ jewelry brand furloughed a majority of employees, save for a skeleton team to help maintain day-to-day operations. Furloughed employees will receive healthcare benefits while out of work.
“Last week, we made the difficult decision to furlough a majority of our staff,” said a statement from the Yurman family. “We built our family company over the last 50 years, and we wouldn’t be who we are today without the incredibly talented people that have been on that journey with us. As a family, we look forward to our furloughed employees being able to return soon. During this period, we will continue to provide all health benefits. We are working with a very small team to maintain essential business operations. These actions will enable us to recover after this pandemic, so we can reopen our doors to our valued employees and clients.”
In December, David Yurman opened a new flagship on 57th Street between Fifth and Madison Avenues in Manhattan. The company is an active participant in the big Couture fine jewelry trade show in Las Vegas, which was canceled this year due to the COVID-19 crisis — drying up a large source of wholesale revenue for many of jewelry’s big players.