Jnet closes Texas office and lays off staff

Jnet, the e-commerce joint venture between Jewelers of America (JA) and Manufacturing Jewelers & Suppliers of America (MJSA), has closed its Dallas-area office and laid off its staff. The site has moved to New York where it will be managed by the JA staff, the majority partner.

Financial constraints were the reason for the decision, says Matthew A. Runci, JA president and CEO.

Jnet was originally launched in October 2000 as a full-service e-commerce enabled portal serving jewelry retailers and suppliers. Steven Kravit, former CEO, Caroline Stanley, vice president of communications and Bev Hori, vice president of professional development, ran the operation out of its Dallas headquarters.

”Steven Kravit and his staff did a commendable job bringing Jnet to the current level,” Runci said in a written statement. ”The decision to move operations to New York is purely a business one. Rather than try to build a new brand with Jnet, JA and MJSA will take advantage of their own brands and their respective memberships to introduce the Jnet program.”