Industry Raises Money to Aid Looted Jewelers

RAPAPORT... Two industry groups have raised more than $27,000 to help jewelers whose stores sustained physical damage during the recent lootings in the US.Members of the industry donated to the Jewelers Relief Fund, a GoFundMe account created by the Diamond Council of America (DCA) and Jewelers of America (JA). The money was distributed directly to 10 independent jewelry stores whose premises were destroyed during the lootings following protests over the death of George Floyd, the groups said last week.Contributions to the fund came from private individuals, as well as companies such as Synchrony, Forevermark US, BIG Buyers Intelligence Group, National Jeweler, Reed Jewelry Group and Retail Jewelers Organization."Independent jewelry businesses have been impacted significantly during these challenging times," said Maggie Kassebaum, senior vice president and general manager of luxury markets and payment solutions at Synchrony. The fund will "ensure that these small-business owners receive the help they need to recover and grow."Image: A jewelry store display. (Shutterstock)