Online jewelry retailer Ritani LLC hired a media industry veteran as its new CEO.
Deborah Fine took over the top spot at Ritani, No. 310 in the Internet Retailer 2016 Top 500 Guide, late last week, becoming the first person to hold the chief executive title at the company. She effectively replaces founder Brian Watkins, who left the e-retailer in May for unspecified personal reasons.
Fine most recently was chief commercial officer at sporting goods chain Modell’s, No. 710 in the Internet Retailer 2016 Top 1000. She also has held executive-level positions with Victoria’s Secret (parent company L Brands Inc. is No. 28 in the Top 500), media company NBC Universal and magazine publisher Conde Nast.
“Ritani’s legacy of craftsmanship, business model innovation, and the ability for consumers to design their own merchandise are strong pillars for growth,” Fine said. “I look forward to working with the team here to continue to innovate and increase our market share across all relevant categories.”
Ritani, which launched in 1999, grew its web sales 50% in 2015 to an Internet Retailer-estimated $75 million, from $50 million in 2014. The jeweler boasts an average online order value of $5,500, according to Internet Retailer estimates, with more than 52% of its customer base having an annual household income of more than $60,001. Ritani specializes in engagement rings and sells directly to consumers via Ritani.com, but consumers can preview products at more than 230 independent jewelers in North America.