Peter Smith (pictured), president of Boston-based jewelry brands Mémoire and Hearts On Fire since 2019, has left the company as part of a restructuring.
Both brands have been owned by Chow Tai Fook since 2014.
Caryl Capeci, CEO of Chow Tai Fook North America, tells JCK via email that Smith’s role was eliminated, and there is no plan to replace him.
“I made some structural changes to better optimize our team for the increased levels of business our customers are experiencing and prepare our organization for the continued growth expected in the coming year,” she says. “This past year was record-breaking for most of our customers and requires us, as we do every year, to evaluate our structure and adjust so that we are poised for growth.”
The company “will be reinvesting into the levels of our organization that touch our customers and the frontline sales associates on a daily basis,” she adds.
Smith tells JCK “that he’s very positive and upbeat. I am really proud about what I accomplished at Mémoire and Hearts On Fire, and now it’s time to do something else.”
Smith says he is looking for a new position but is also interested in doing “consulting and speaking gigs” in the interim. Smith is an author of several books on selling and writes regularly on sales training for National Jeweler.
He has also worked for Vibhor, Leo Schachter, and Tiffany & Co.
(Photo courtesy of Peter Smith)
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