Scott Rauch, cofounder of SHR Jewelry Group, and David Bouffard, a longtime executive at Signet, have started a new business accelerator called JEM Brands Group. The accelerator focuses on finding, buying, and growing direct-to-consumer (DTC) and omnichannel jewelry brands.
JEM, which stands for Jewelry Enterprise Management, has set early goals to attract a small group of designers for incubation. It also plans to acquire a profitable brand with a strong and charismatic founder. According to a statement from JEM, their strategy is to build a “pipeline of newness.” This means they will look for jewelry brands that have great potential. These brands should have strong founder identities, interesting product stories, and unique visual styles.
In the long term, Rauch and Bouffard want to create a multibrand company. This company will offer shared services, licensing deals, and have manufacturing and marketing integrated vertically, the statement said.
Rauch, who was also a senior executive at M. Fabrikant & Sons, said, “More than 30,000 DTC and omnichannel jewelry brands have entered the market in recent years. They have taken market share from traditional and legacy players.” He added, “These brands are creative, but often lack efficiency. JEM exists to close this gap by providing financial knowledge, supply chain expertise, wide distribution, and strong marketing to help them reach their full potential.”
JEM has already opened an office in New York City. The office includes design, CAD, casting, and finishing facilities.
Besides acquiring brands, JEM hopes to form licensing partnerships with brands in watches, handbags, tween fashion, and celebrity-driven products.
Bouffard, who used to chair the Responsible Jewellery Council, will help brands improve their sourcing policies. He said, “Today’s consumers want to know more about where their jewelry comes from and how it is made. JEM Brands is committed to transparency in the supply chain.”
He added, “We are building a platform where creativity meets business. We want emerging brands to get the support and guidance they need to succeed.”
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