The Company of Master Jewellers, a buying group representing around 150 retail jewellers, has transferred ownership of its public relations agency Facets PR to its founder and managing director Sarah Carpin.
It is the first significant decision taken by the CMJ’s interim CEO Terry Boot, who took over the role this summer with a brief from the board of directors to return the group to profit after a loss-making 2016-17 financial year.
“The CMJ Retail Members were promised that all aspects of the company operations would be reviewed and the outcome is positive for all involved,” said Mr Boot.
FacetsPR, previously trading as CMJ Media, was launched as a specialist jewellery and watch PR agency in 2011. It currently has no clients in the watch business, focusing instead on jewellery makers including Yoko London, Marco Bicego, Clogau and Sif Jakobs Jewellery.
Facets PR is no longer associated with Facets Creative, another subsidiary of the CMJ. That subsidiary has survived the root and branch investigation into the operations of the group. Facets Creative recently appointed a new CEO.
Ms Carpin was offered the opportunity to take ownership of the business as the CMJ restructures following a profitability review and a promise to the group’s retailer and supplier members to focus on its core business.
“I am delighted to be able to take ownership of the agency I launched over six years ago,” Ms Carpin said. “Together with my team of talented staff and shareholders, which include Facets PR head of PR Anna Chapman, we have exciting plans to scale up the agency with a wider client portfolio and to work within other international markets.”