A new company that’s aiming to capitalize on the legacy of the Clintons by making jewelry for a young and emerging generation has opened up shop in a mall in downtown Los Angeles.
The Clinton Global Initiative, or CGI, is a nonprofit organization created in the wake of Bill Clinton’s presidency to promote economic development and global leadership.
Its board includes prominent philanthropists including billionaire George Soros, who also has a stake in the company.
According to a press release from the CGI website, Barrick Gold is the first publicly traded jewelry company in the United States to sell jewelry in stores.
The company plans to open the first brick-and-mortar retail store in the Los Angeles area in January, according to the press release.
The company’s founder and CEO, Richard Seddon, is also a member of the board of the Clinton Foundation.
In 2016, Seddown gave the charity $1.4 million, according the Clinton Global Institute, and the organization has been working to help children in developing countries.
Barrick has been building out its business with the help of the Bill, Hillary and Chelsea Clinton Foundation and the Clinton Family Foundation.
The new retail store, located at the LA Times Square mall, will be part of the company’s efforts to help youth and their families find affordable and stylish jewelry that celebrates the values of the foundation, according its press release .
“Barrick is focused on connecting people around the world to high-quality, affordable jewelry,” Seddons website states.
“Our commitment to creating meaningful experiences for people is at the heart of our approach to investing in the lives of children.”
Barrick plans to sell $10,000 worth of jewelry in the first two weeks of February.
For the rest of the year, it plans to make a $25,000 gift to the Bill and Hillary Clinton Foundation each year.
Barry Gold is part of a global movement in which brands are seeking to reach a younger and growing audience.
The companies aim to connect with an increasingly affluent generation by promoting ethical and responsible behavior, creating a culture of integrity and inclusion, and helping to raise awareness of issues such as climate change, obesity and HIV/AIDS.
In recent years, the business of jewelry has expanded to include more women and minority groups.