THE BLING BUSINESS ⚡⚡⚡
CWBS Vol. 9
Hi CWBS!
Fall is officially here, and with it, we present you Volume 9 of The Scope! In this feature, we’re highlighting “the bling business,” aka the glitz and glamour of the fine jewelry industry. Our “It’s Her Business” Feature features the work of the incredible Shelley Sanders of The Last Line LA, an industry overview of the fine jewelry business, and an array of exclusive CWBS events, promo codes, and internships, straight to your inbox.
Happy reading!
Best,
Sophia Naqvi, Membership Engagement Chair 2020-2021
THE PRINCETON REVIEW AND CWBS: GRADUATE SCHOOL TESTING INFO SESSION
MONEY MOVES WITH JUDY ZHU: SEEMA HINGORANI OF GIRLS WHO INVEST
PUBLIC: Invest in good company.
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A Shaky September for Stocks: Markets have been turbulent recently, reflecting investors’ concerns about COVID-19 progression, economic recovery, the upcoming election, and U.S.-China relations, among other issues. After incredible rallies, tech stock dips have pulled down major indexes. Learn more.
COVID Case Comeback: After several months of low infection rates in the NYC area, COVID-19 cases are surging in Brooklyn and Queens neighborhoods and in sections of nearby Rockland and Orange counties. Learn more.
LVMH v. Tiffany: In the latest chapter of the Tiffany & Co. acquisition saga, French conglomerate LVMH filed a countersuit in Delaware Chancery Court on Monday. Citing mismanagement within Tiffany and future disruptions to the luxury industry, LVMH aims to back out of the $16 billion deal. Learn more.
West Coast Remains Aflame: Wildfires continue to rage across the West Coast of the United States. Blazes in Northern California (including in Napa Valley, known for wine production) led to three new deaths, thousands of evacuations, and the destruction of dozens of homes. Learn more.
IT’S HER BUSINESS: SHELLEY GIBBS SANDERS of THE LAST LINE
“I think any entrepreneur will say that listening is more important than talking, patience is so important and always, always trust your gut. ”
- SHELLY SANDERS
Shelley Gibbs Sanders is a jewelry designer based in Los Angeles, California, and the founder of The Last Line. Shelley’s career began in New York where she studied Fine Arts at Parsons School of Design before returning home to California to train with Master Jewelers in San Francisco. After learning the tricks of the trade, Shelley returned to Los Angeles to begin her career as a jewelry designer. Over time, Shelley’s roles evolved and she soon became the head designer and creative director for dozens of celebrity jewelry brands and high-end jewelry houses, working with everything from gold, diamonds, and precious stones over her tenure. After being in the “biz” for almost two decades, it’s safe to say she’s an authority and until recently the secret diamond concierge for a select few.
Inspired by her years of design experience, countless conversations with girlfriends, and of course, her own never-ending search for that perfect ____ (earring! ring! you know the saga), The Last Line was born. Working alongside her husband Teddy Sanders, the duo is applying the same pristine techniques to manufacturing fine jewelry with a refreshed mentality of putting the consumer first. The mission? To rewrite the rules of the jewelry world one direct-to-consumer diamond at a time—without losing that special feeling you get when you’re sipping champagne and trying on diamonds in real life.
Designed in Los Angeles, The Last Line was created with the mentality of giving consumers what they (actually!) wanted: The Last Perfect Pinkie Ring, The Last Perfect Tennis Bracelet, The Last Perfect Drop Earring. With a vision of The Last Line woman in mind, Shelley created a collection that embodies her juxtaposed lifestyle: a mix of high and low, vintage and modern, done-up but dressed-down and one who plays by her own rules. The collection is two-fold: The Heart and The Soul, because you know, we need both.
What inspired you to start The Last Line?
Well, it’s not the shortest story but I worked for a bunch of other brands before launching The Last Line and I have always been into jewelry. It was definitely a moment once I realized I could do it professionally, something I definitely didn’t think was possible when I was young. Ultimately, after working for other brands and designing other people’s collections I was ready to do my own line, not for vanity’s sake but because I saw the need for something different in the space. There were specific pieces my friends kept asking me where they could get and styles that could be done way better and not a central place to get them all under one roof. After seeing these problems I knew I could solve them by creating my own brand so about three years ago we went for it. I say we because I founded the company alongside my husband who is also our CEO. The story behind the name ‘The Last Line’ is that we want to be the last place you ever need to visit for fine jewelry. We really surveyed the space and found some major white space in brand, engineering, price (no retail markup!), options, quality, I could go on but ultimately we created The Last Line to address all of these, and here we are.
Were there any specific challenges that came with being a female founder in the fine jewelry industry?
Jewelry production is a bit of a boys club, especially when you’re dealing with stones and production but nothing I wasn’t prepared for. The real benefit of being a woman is being able to design pieces that women want to wear, understanding the pain points, and creating accordingly.
What are your top five favorite The Last Line pieces on a college-friendly budget – ideally under $500?
Choosing just five is tough, but I did it.
https://thisisthelast.com/products/white-topaz-five-solitaire-drop-huggie
https://thisisthelast.com/products/diamond-and-gold-heirloom-pendant
https://thisisthelast.com/products/petite-triple-diamond-stud
https://thisisthelast.com/products/mini-diamond-flower-bracelet
https://thisisthelast.com/products/connected-diamond-double-huggies
Do you have any tips or words of wisdom for college-aged women interested in pursuing a career or entrepreneurship within the fine jewelry industry?
I think the biggest thing is to go with your gut, if you think you might even a tiny bit want to be a jewelry designer or really in any profession, try it out! You’ll fully regret it if you don’t and if you try it and hate it, pivot and off you go. I think so many of my roles have influenced my next steps of where I worked or what I wanted to do.
What skills or qualities are vital to starting a successful business?
Starting a business is difficult and truly there is reason to sugarcoat it because that’s the reality. It’s stressful and scary, especially if your name is tied to it but it’s so rewarding. I think any entrepreneur will say that listening is more important than talking, patience is so important and always, always trust your gut.
What’s a book you’ve read recently that you’d recommend to CWBS readers?
At the moment, most of my reading comes in the form of podcasts. I start each day with NPR Up First and see if I can squeeze in another one later in the day. I also love ‘Second Life’ with Hillary Kerr, definitely a good listen for college women interested in starting their own business.
Who’s a woman leader that you look up to?
My daughter, Goldie. She’s three and a half years old and runs our house.
Internships
REPUBLIC VENTURE FELLOW PROGRAM
Venture Fellow applications are now open! Republic is the leading crowdinvesting platform where anyone can invest in startups with as little as $50. With 800k+ members of its community, Republic has a robust and growing partner network of top VCs, accelerators, and influencers. Joining as a Republic Venture Fellow gives you access to a network of VC & accelerator opportunities, the ability to source deals for Republic, learn more about how investors evaluate startups, and, overall, join a community of highly ambitious individuals. Republic will also provide money to invest on the Republic platform to kickstart your investing journey. Interested in joining us? Apply here by Oct 16th: http://bit.ly/republicVFform
Questions? Email zehra@republic.co
Banking/Finance
Consulting
Tech
Startups
Venture Capital
Industry Spotlight: Fine Jewelry Industry
The global jewelry market has experienced continuous growth and is expected to reach $480.5 billion by 2025, expanding by 8.1%. In the luxury sector, fine jewelry remains one of the fastest-growing divisions.
In 2019, searches for “ethical jewelry” have increased by 75% while those for “buy diamond” remain constant. To adapt to the shift towards ethical consumption, the jewelry industry increasingly focuses on transparent supply chains, recycled materials, and lab-grown diamonds.
As attitudes towards gender roles change, many brands adopt inclusive, gender-neutral designs. Comme des Garçons, Bulgari, and designers worldwide recently unveiled their gender-fluid jewelry collections.
With the growth of e-commerce and social media, many brands seek to expand their customer base by adding entry-level, affordable products. Beyond accessible prices, demi-fine jewelry allows customers to find a balance between formal style and every-day comfort.
While the industry traditionally targeted male consumers looking for gifts for their spouses, retailers began to change their mindset as women’s purchasing power increased. In the U.S., 81% of jewelry is now purchased by women, either on their own or in cooperation with a partner. Many companies now focus on marketing to independent female buyers, as well as shifting the gender imbalance in store ownership and management.
Major Firms: Signet Jewelers (Zales, Kay Jewelers, Jared), Tiffany & Co., Pandora, Swarovski, Alex and Ani, Gucci, Cartier, Tory Burch, DeBeers
MONEYGIRLS: It’s time to run your own money.
MoneyGirls’ goal is to empower all women to maximize their independence, influence, and leadership by giving them the tools and resources necessary to take control of their financial lives. MoneyGirls aims to carry out this mission through the Monday MoneyDrop, a once-a-week newsletter, the MoneyBag, and the MoneyGirls Strategist Network. Later this summer, the MoneyGirls app will launch, bringing the world of accessible financial literacy right to your fingertips through innovative tech. Get involved here.
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