Abramov Resigns from HOTJ, Rose Takes Over

-- JCK-Jewelers Circular Keystone, 4/10/2008 9:43:00 AM

House of Taylor Jewelry, Inc. on Thursday announced the appointment of Lyle M. Rose as president and chief executive officer of the jewelry company, effective immediately. He replaces Jack Abramov who the company said resigned as chairman, president, and chief executive officer for personal reasons, but will serve as a consultant to the company for a six-month transition period.

In addition, the Los Angeles-based company, said that Monty Abramov has resigned as secretary and vice president, effective immediately.

"Lyle's industry experience reflects his focus on developing key operational, sales, marketing and merchandising strategies for a variety of jewelry companies," said Larry Chimerine, a director for House of Taylor Jewelry, Inc. "We anticipate that he will help shape the near-term and strategic objectives for House of Taylor Jewelry, Inc. While we seek to evolve the business, we remain committed to developing our branded jewelry lines and to further executing our direct-to-consumer strategy."

Chimerine, added, "We thank Jack and Monty for the industry expertise that they provided to House of Taylor Jewelry, Inc. and for their assistance in the transition."

Rose said, "In the past few years, HOTJ has developed unique branded jewelry lines and established relationships with various key independent retailers. I am pleased to join the Company during this challenging time as it continues to diversify its distribution channels to seek new global opportunities. Given HOTJ's exciting brands, I look forward to helping the company affirm its growth potential."

Rose, 55, has 36 years of jewelry experience. Most recently, he was a consultant in the jewelry field specializing in the areas of marketing, product, and sales development. Previously, he has served as chief executive officer of LID, Ltd., a manufacturer of polished diamond and diamond jewelry; divisional president of Jacor Products Group, a division of Jabel Inc.; and managing director at Emanon (H.K.) Ltd.

His experience includes managing merchandising, marketing and sales initiatives; acting as a liaison and coordinator between U.S. and Hong Kong jewelry companies; and supervising import/export retail and wholesale operations.

As a jewelry industry consultant, Rose specialized in operations and corporate structuring, profit enhancement techniques, sales training and merchandising. He also served as past president of the New Jersey chapter of the Alexander Graham Bell Association for the Deaf and Hard of Hearing.

"It has been my honor to work with the talented and dedicated people of House of Taylor Jewelry," said Jack Abramov. "As a consultant to the company and significant shareholder, I look forward to supporting the company and Lyle throughout the transition." 

About House of Taylor Jewelry, Inc. is an international jewelry company whose principal shareholders include entities owned by Dame Elizabeth Taylor and Kathy Ireland, along with members of the Abramov family.