The boutique's high-end jewelry line FoundRae quickly became a household name. Luxurious “quiet luxury” set Celebrities like Taylor Swift and Kaia Gerber are also differentiating themselves with customizable items sold as buy-your-own items.
Cartier love bracelets and Tiffany diamonds have long been sold as gifts for men to give to women, but FoundRae founder Beth Hutchens, 52, was in the minority when she started her brand. Our focus on things has given us a major foothold in the $200 billion-plus jewelry industry. : Women who buy presents for themselves.
She told the Post that when she started her company on downtown Lispenard Street nearly a decade ago, only about 5 percent of jewelry sales went to the people who intended to wear the pieces. But Hutchens remained steadfast in his vision.
“I thought, well, I'm going to eat a very small slice of pie,” she said. Nowadays, “women are increasingly buying their own jewelry.”
FoundRae just opened its second Manhattan location between 66th and 67th Madison Avenue, and also has locations in Miami and Los Angeles.
From the beginning, Hutchens has aimed to create designs that feel personal, rather than showcasing perfunctory luxury.
“The entire collection [when I started] It was really conceived as a tool for self-discovery and self-expression,” Hutchens said. “I really wanted to be able to mix and match each piece so that the piece you're wearing really expresses your story.”
FoundRae's products include a variety of attractions. For example, $1,650 “Strength Mini Medallion” These include the 18k gold one with a picture of a lion holding a small diamond in its mouth, and the $29,000 Spark Love Baby Medallion with a starburst and nine small diamonds. These can be attached to a variety of chains, including the $13,500 Oval Link and the $3,950 Sister Hook, both in 18K yellow gold, to create unique and meaningful pieces.
Hutchens was also a visionary when it came to another current fashion trend: the quiet luxury with which the brand has been associated.
FoundRae's work isn't flashy or easily recognizable to the masses. Relatively understated, the intricately designed pendants are intended to be “modern heirlooms.”
“We think what you're really passing on to the next generation isn't the weight of gold,” Hutchens said. “It's the story behind it.”
She grew up in Brownsville, Texas and moved to New York at the age of 18 to attend the Fashion Institute of Technology. The city was key to her and FoundRae's success.
“I would never live anywhere else,” said Hutchens, who calls Brooklyn home. “New York gives people opportunities they can't get anywhere else. New York's population density allows people to specialize in their field.”
Access to the jewelry district was especially important to Hutchens in the early stages of putting together the design. That way, you can be sure that the final product turns out as you intended.
FoundRae is something of a second effort for Hutchens, who helped launch Rebecca Taylor's eponymous clothing line in 1996 and served as its CEO for 18 years.
When she launched FoundRae, she made another counterintuitive bet on brick-and-mortar business, insisting on a small Lispenard Street store.
The majority of the company's sales occur in stores rather than online, where customers can try on items and learn about products before purchasing.
Hutchens doesn't disclose its financials, but it's clear the company is growing.
In addition to its own stores, its jewelry is available at high-end retailers such as Saks Fifth Avenue, Net-a-Porter, and GOOP. And Hutchens recently hired former David Youman CEO Ruth Somers as CEO.
This ever-growing brand has gone far beyond its origins.
“When I first opened the store, [on Lispenard] My friends will joke that…you opened right next to Gucci. I was talking about fake Gucci bags being sold on street corners,” Hutchens recalled.
Today, FoundRae's Uptown store is just steps away from Chanel, Loro Piana, and other designer shops.
“Now when I say Gucci is our neighbor, I really mean Gucci,” Hutchens said with a laugh.
This article is part of a new editorial series called NYNext, which focuses on innovation across various industries in New York City and the people leading the way.
