Jewelry Business Guru by Cindy Edelstein

CFDA Adds 30 New Members - 3 are Jewelers

Founded in 1962, the Council of Fashion Designers of America (CFDA) is a not-for-profit organization of more than 300 top U.S.-based fashion and accessory designers. New members are chosen based on a vote by the board of directors upon review of their application.

This year's new members are:

Michael Ball for Rock & Republic
Victoria Bartlett for VPL
Monica Botkier for Botkier
Tory Burch
Richard Chai
Georgina Chapman and Keren Craig for Marchesa
Wenlan Chia for Twinkle
Keanan Duffty for Slinky Vagabond
Pina Ferlisi for Generra
Justin Giunta for Subversive Jewelry
Henry Jacobson
Phillip Lim for 3.1 Phillip Lim
Adam Lippes for Adampluseve
Andreas Melbostad for Phi
Kate Mulleavy and Laura Mulleavy for Rodarte
David Neville and Marcus Wainwright for Rag & Bone
James Perse
Mary Ping
Laura Poretsky for Abaeté
Jessie Randall for Loeffler Randall
Lela Rose
Rachel Roy
Paul Sinclaire for Tevrow & Chase
Michelle Smith for Milly by Michelle Smith
Mimi So
Michael Spirito for Exhibitionist
Jean Yu

Current CFDA jewelry designer members:
Simon Alcantara, Anthony Nak, Alexis Bittar, Erica Courtney, Henry Dunay, Stephen Dweck, John Hardy, Lisa Jenks, Steven Lagos, Elizabeth Locke, Paul Morelli, Robert Lee Morris, Judith Ripka, Jordan Schlanger, Mish Tworkowski (Mish New York), Katrin Zimmermann (Exovo)

John Hardy Sells His Stake

John Hardy, founder of the namesake Bali jewelry brand, has sold his stake in the firm to company president Damien Dernoncourt and creative director Guy Bedarida. Terms of the deal were not disclosed, reported WWD. More from WWD:

Hardy will become the brand's ambassador and continue to help provide creative vision. His wife, Cynthia, will be a merchandising consultant. Terri Eagle, who joined the company from competitor David Yurman in 2005, will retain the title of president and chief executive officer of John Hardy USA. Dernoncourt, 35, has been president since 2003, and Bedarida, 43, has been in his role since 1999. An unnamed private equity firm backed the deal and Lincoln International acted as a financial adviser. It is unclear whether Hardy owned the majority in the firm or if he had partners. [Cindy understands there was a partner in Hong Kong]

Hardy's sales in the U.S.reportedly reached $150 million last year. We are a lifestyle brand and our strength is really in jewelry," Dernoncourt said. "We are about handmade luxury product and luxury with a soul. We believe that it's a brand with a real spirit, a real soul and a great future. The brand attributes are very strong." Bedarida said, "We're really following the heritage that John has given us. John is sort of a spiritual father to us. It's an incredible, exciting new era." The company has no plans to roll out stores in the U.S., with the exception of a Manhattan flagship slated to open in the next 18 months.