SOUTHERN JEWELRY
Pollock’s Jewelers: A community fixture stays the course
By Wanda Freeman
Saying “thank you” to a supportive community was the main message when Pollock’s Jewelers of Ashland, Kentucky, celebrated its 150th anniversary in business in August. Festivities during the August 2-3 celebration included a 1.50 carat lab diamond giveaway, Kendra Scott trunk show, a popup piercing party, a candle bar, flower bar, food trucks, an onsite radio broadcast and a photo booth.
Pollock’s Jewelers, founded by Isaac Newton Pollock as a mercantile general store in 1874, had evolved into a jewelry and gift store by the time Clay Hill’s grandparents - Clayton and Virginia Hagans - bought the place from Pollock’s niece in 1955.
“This store has been in my family since the 1950s, and the people here are more than cus-
tomers to us,” says third-generation owner Hill. “Ninety percent of our business is repeat business.”
Hill’s grandfather was a World War II veteran and apprentice watchmaker living in Mount Vernon, Ohio, when an A.JAFFE representative told him Pollock’s was available for sale. It was a busy one-stop shop that sold jewelry, china, Waterford crystal, sterling silver, and baby gifts.
“The watch repair went away because he had to run the store,” Hill says of Hagans. “He’s maybe the 53rd Certified Gemologist in the archives.”
When Hagans decided to retire in 1985, he passed the reins to his eldest daughter and sonin-law, Leslie and David Hill - Clay’s parents. The Hills were living in Pennsylvania and Clay was 12 when they made the move back home.
Fine Jewelry Remains Top Luxury Performer for Holiday 2024
By Deborah Yonick
Fine jewelry, particularly diamond jewelry, ranks high on holiday shopping and wish lists year after year. Multiple reports, including luxury market analyst firms like Bain and McKinsey, rank jewelry a consumer favorite, driven by its emotional resonance and status as a valuable and lasting gift.
As we enter the fall/winter/holiday season fine jewelry continues to outperform other luxury segments, including watches, according to Bain’s most recent Luxury Goods Worldwide Market Study.
Findings reveal strength in both the uberand entry-luxury segments and a sentiment among consumers that jewelry is a bright spot for investment amid uncertainty. It underscores the resilience of jewelry in a challenging market where consumers are favoring experiential offerings over tangible goods.
Please see Trends page 36
Along with Leslie’s sister Carole Ferry, who still works at Pollock’s, Hill’s parents managed the store until 2000, when they left him in charge and went to Honduras to work as missionaries.
Although he was immersed in the business from the startfolding boxes and washing windows at 12, delivering packages in connection with a burgeoning bridal registry at 16 - Hill didn’t know until college that jewelry would ultimately be his life’s work. He majored in soccer at the University of Kentucky until an injury forced him to consider going into physical therapy. That didn’t pan out, so he majored in business, and the rest is history. He “really started working,” waiting on customers, in 1993, at age 20. “Now I’m 31 years in the business.”
Please see Pollock’s page 4
ASHI Celebrates 40 Years of Promoting Jewelers’ Brands
By Deborah Yonick
ASHI® celebrates its 40th year in business. Brothers and business partners Sanjay and Rajeev Pandya founded the company in New York City in 1984 as a loose diamond wholesaler. But it quickly grew to become a fully integrated diamond jewelry company serving more than 1,000 independent retail jewelers across North America.
ASHI® strategically designs diamond jewelry collections that offer high perceived value, appealing to customers looking for both quality and affordability. The company stays ahead of the trends by staying in touch with consumer preferences through ongoing market research, allowing it to create innovative diamond bridal, basic and fashion jewelry collections.
Throughout its history, ASHI® has adapted to changes in the jewelry industry, incorporating
Pollock’s Jewelers celebrated its 150th anniversary in August of this year.
The Pandyas - (l-r) Rajeev, Akshay, Vivek, Paras and Sanjay.
Diamond jewelry is a perennial winner during the Christmas/Holiday season. Image courtesy GN Diamond.
POllOCK’S
Continued from page 3
In 1998 Hill attended GIA in California and earned his Graduate Gemologist degree. He joined the American Gem Society and became a Certified Gemologist Appraiser in 2001.
In 2003, Hill consolidated three mall-based locations of Pollock’s into the current freestanding store with its own parking lot at 913 Winchester Avenue. The store’s 5,000 square feet of space includes a 2,800-square-
MAJN
Editor, Bill Newnam
bill@southernjewelrynews.com
Publisher, Chris Smith
chris@southernjewelrynews.com Administration and classified advertising
Martha Osswald martha@southernjewelrynews.com
Staff Writers
Wanda Freeman
Paul Holewa
Diana Jarrett
Deborah Yonick
Vice President Sales
Elesa B. Dillon
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foot showroom, and he oversees a staff of nine full-timers and one part-timer.
“We don’t work on commission. I’ve never done that, and I
never will,” he says.
In his three decades at the helm of Pollock’s, Hill has weathered all manner of major events and economic twists - 9/11, prompting people to “stop taking life for granted”; the growing international concern over blood diamonds; the recession of 200809 and their effects on business and manufacturing; the price of gold skyrocketing in 2010.
With a declining population barely over 21,000, Ashland continues to face job losses by the hundreds in coal, steel, and rail, and Hill is ever mindful of the challenge of serving loyal customers whose incomes have plunged.
In such an atmosphere, he
appreciates a supportive community.
“We’re on a first-name basis. I make house calls to appraise jewelry.” Hill says he has begun to travel two and three hours away to someone’s home to sell an engagement ring, and he anticipates more such travel.
His key to success, he says, is “being trustworthy.”
“We take care of everybody as best we can. We have customers here that are three generations deep. I have people come in here and say, ‘Your grandfather was one of the nicest men I’ve known.’ Those are big shoes to fill, and I want to make the experience for everyone as good as I possibly can.”
Contributing Writers
Corkie Bolton Slav Galkin
Diana Jarrett
Chuck Koehler
Guy Pineda
Southern Jewelry News 2006 New Garden Road - Suite 208
Phone: 336-389-1950
Fax: 336-389-1952
www.southernjewelrynews.com
email: info@southernjewelrynews.com
Any views or opinions presented in this publication are solely those of the author and do not necessarily represent those of Southern Jewelry News.
Pollock’s has been at this freestanding location since 2003.
Clay Hill has run the show at Pollock’s since 2000.
150 years in business is a lot to celebrate.
Industry Events
9th annual New York City Jewelry & Watch Show
(NEW YORK) - The New York City Jewelry and Watch Show makes its return this Fall to downtown Manhattan October 24-27 transforming the Metropolitan Pavilion into a jewelry enthusiast haven. The Pavilion’s Hall will be adorned with exquisite displays of jewelry, creating an atmosphere with strong transactional energy. This year’s event promises to be a special occasion, featuring an unprecedented collection of jewelry and timepieces from influential jewelers representing over ten countries.
The annual event is set to bring together an impressive cross-selection of classic antique
collections, timeless vintage pieces and unique handcrafted modern and contemporary jewelry designs. Attendees can anticipate an assortment of remarkable presentations featuring a carefully curated selection of exhibitors. Recognizable returning exhibitors include Camila Dietz Bergeron, Fred Leighton, J.S. Fearnley, Paul Fisher, Roy Rover Antiques among many more presenting their newest acquisitions to the show’s substantial audience.
Every year, the NYCJAW Show launches significant social media coverage content created by industry influencers attending the event as well as exhibiting.
Participating dealers including Luxury Bazaar, Jewels by Grace, DeYoung Collection and Courtville all have significant followings contributing to the existing show promotion. Roman Sharf of Luxury Bazaar reviewed the 2023 show on their popular YouTube Channel. The video, labeling the event as a WIN, reporting over 2 million in sales at the show, reached over 126,000 views. These influential dealers, with significant social media followings, bring fresh perspectives and innovative engagement online and in person that resonate with a younger and worldwide collector. Their presence at the show underscores the dynamic and evolving nature of the jewelry and watch industry, where traditional craftsmanship meets modern trends and digital influence.
“The New York City Jewelry and Watch Show serves as a platform for exhibitors to come together in person to buy, sell, trade, and network,” said Scott
Diament, President and CEO of the Palm Beach Show Group.
“The inclusion of new exhibitors alongside renowned jewelry experts highlights the comprehensive appeal of this event and creates an atmosphere where both established and newer generational jewelers can shine.”
Jewelry Trade Badge Program
Experience the 2024 New York City Jewelry & Watch Show as a jewelry industry professional and get the opportunity to access the show sales floor before the buying public.
By registering to participate in the Jewelry Industry Trade
Badge Program, you will be granted early access to the show and be allowed to bring merchandise with you.
To inquire about a trade badge, email jaime@palmbeachshow.com and write NYCJAWS 2024 Trade Badge Inquiry in the subject line.
The NYC Jewelry & Watch Show will be held at the Metropolitan Pavilion, 125 West 18th Street, New York, NY 10011. Show hours are Thursday, October 24 - Saturday, October 26 11 am – 6 pm; and Sunday, October 27 11 am - 4 pm. For more information, visit NYCJAWS.com.
JIS Fall Unveils New Education Stage
(NORWALK, Conn.) - JIS
Fall is excited to announce several sessions taking place at its new Education Stage - including a keynote panel discussion about the hottest topics in jewelry - as well as the debut of its Business Center, at the upcoming show - October 6-9 2024, at the Miami Beach Convention Center. Set against the vibrant backdrop
of Miami Beach, this year’s Fall event promises to be a premier destination for jewelry industry professionals to stay ahead of the curve by discovering the latest trends, learning about key topics for their businesses, networking with leading brands and stocking up on the season’s most coveted pieces from over 600+ exhibitors just in time for the holidays.
Spotlight on the New Keynote Panel
The new keynote panel at JIS Fall will feature 90 minutes of back-to-back panel discussions designed for retail attendees. Moderated by industry communications strategist, Jen Cullen Williams, the panel presentations will share insights from industry experts on four hot topics: the state of the industry, visual merchandising, marketing & sales strategies and customer experience. Each topic will include a few minutes of audience Q&A, providing attendees with the opportunity to engage directly with the speakers and gain tailored advice.
Keynote Panel Schedule:
• Date: Monday, October 7, 2024
• Time: 12:30 PM to 2:00 PM
• Location: Education Stage
Keynote Panel Topics Highlights
• State of the Industry: An Economic Look
Stanley Zale, Principal Consultant at Hill & Co., will provide an overview of the economic landscape in the jewelry market, focusing on diamonds, gemstones, metals and general sales. Attendees will gain valuable insights to prepare for the holiday season and beyond.
Please see JIS page 33
modern design trends and advanced manufacturing techniques, while maintaining its traditional values of quality and integrity. This milestone anniversary speaks to its success, built
on the enduring relationships the company has forged with its retail partners.
“By maintaining strong relationships with our partners and focusing on innovation in design, we have built a legacy that honors both tradition and modernity,
making fine jewelry accessible to everyone,” describes Rajeev, who underscores that its core has not changed in 40 years. “We are focused on promoting the jeweler as the premier brand in their market.”
lections offer engagement rings, bands, earrings, bracelets, necklaces, and pendants.
The company is especially well-known for its extensive I Do Bridal Collections showcasing over 3,000 designs in engagement rings, semi-mounts, bridal sets, wedding bands, wraps, and inserts in a variety of metals and finishes.
ASHI® offers a range of fashion lines as well, from its trendy Petite Collection, popular with Millennials and Gen Z, to more elaborate designs and styles featuring precious gemstones and cultured pearls.
Last year, ASHI® launched its Personalized Jewelry program, filling a void for independent jewelers, enabling them to provide custom-made, personalized signature jewelry to their customers.
“Most jewelers do not have
Retailer Advantage
With facilities in the U.S., China and India, ASHI® manages so much of its supply chain - from sourcing its diamonds and gemstones to designing, manufacturing and distributing its jewelry - that it can offer such competitive prices to its customers.
ASHI® has a diverse range of popular collections in bridal, basic and fashion jewelry, over 15,000 styles. Among its most celebrated collections are those using innovative setting techniques of smaller diamonds to create the appearance of a larger
stone. LOVEBRIGHT® encircles a round center diamond with a halo of smaller round diamonds in a patented setting that makes a .50-carat center look like it’s 1.50 carats. FUSION® blends baguette and round cut diamonds to achieve a bigger look. Both col-
a supplier that can easily create personalized diamond name and date jewelry,” explains Sanjay. “This program brings into the store those consumers that typically would go to a B2C vendor online for such items. It provides a compelling opportunity for independent jewelers to connect with younger consumers.”
Also exciting, the company created ASHI Couture®, a brand of luxury bridal and fashion jewelry, statement pieces that marry its values of craftsmanship and design with the highest-quality materials.
“Hand-finished, the jewelry just radiates luxury, bringing the extravagant and extraordinary to the most sophisticated customers,” describes Sanjay of designs cast in 18K gold and platinum and set with the most beautifully cut diamonds and gemstones.
Tools for Success
Retail partners benefit from the company’s extensive range of marketing and merchandising programs and support services customizable to their specific needs. Its in-house graphic and marketing department creates collateral designed to boost store visibility and attract customers.
Among these assets are social media posts, product email-
Custom-made signature jewelry offers personalized names and dates.
The Petite Collection is popular with Millennials and GenZ.
ASHI® facility in Indore, India.
NDC retail partners launch the Real.
Rare.Responsible campaign nationwide
Natural Diamond Council (NDC) retail partners are inspiring clients with the Real.Rare. Responsible values of natural diamonds through a stunning new campaign filmed in Canada’s Northwest Territories. Jewelers like Ben Bridge, David Gardner’s Jewelers, R.F. Moeller Jeweler, Sissy’s Log Cabin, Cornell’s Jewelers, Brown & Co Jewelers, Bijouterie Italienne, and Marquirette’s, are launching robust pre-holiday marketing campaigns, with more retailers set to unveil their local executions in the 4th quarter.
Retailers coast to coast can tap into a library of co-op cam-
paign assets for their local media plans, making a brilliant impact this holiday season and into 2025. Creative assets range from TV and film spots (15 seconds and 30 seconds with co-op end card), out-of-home, print, digital, social media, radio scripts, POS assets, i-Frames for retailer’s websites, and more - each customizable with retailer’s branding and a natural diamond engagement ring. Complimentary access to NDC’s Beyond the 4Cs education platform is offered with a media investment, among other benefits. For more information, email officialpartners@naturaldiamonds.com.
SUCCeSS
Continued from page 8
ers, blogs, direct mail, billboards, in-store visuals, web banners, TV commercials, giveaways, manufacturing video reels, point-ofsale displays, and customizable flier program (print and digital) for Valentine’s, holiday and bridal.
Its B2B website is the hub for retailers to track their account, access marketing and merchandising assets, and view and order products. The site can also convert into a selling tool for jewelers with their company logo and price markups.
ASHI® also provides fully customizable microsites for the Lovebright, Personalized Jewelry, I Do, and Silver Stones collec-
tions. These microsites have engaging elements like high-quality images, integrated email systems, digital coupons, integrated shopping carts with payment options like PayPal and Order by Phone to attract and retain customers.
“Microsites improve SEO by targeting specific keywords, driving traffic and visibility, and providing analytics,” explains Rajeev. “Cost-effective and quick to deploy, microsites help retailers stay agile and competitive.”
For jewelers who need help with their website, ASHI® offers B2C turnkey ecommerce website services through its technology partner, Avalon Solution. To make jewelers’ websites come alive, Avalon uses Shopify as its ecommerce platform, Google and Microsoft email hosting, Google
Web Analytics, and social media networking and YouTube video hosting.
Avalon’s proprietary, cloudbased JewelExchange® is an innovative digital marketplace designed specifically for the jewelry industry. It connects suppliers with retail jewelers, allowing them to increase market share and grow their brands. The platform enables suppliers to easily share their product catalogs with retailers.
To encourage sales performance, ASHI® also developed a unique cloud-based Rewards Program for sales staff that is free to the jeweler, with rewards given by ASHI®. Sales associates earn cash on a prepaid renewable debit card. “It gets the sales staff motivated,” Rajeev says. “It’s really taken off; we’ve paid over $310,000 since it launched less than two years ago.”
Uplifting Jewelers
The company’s top priorities have always been to help its retail partners grow their business, maximize their sales, and position themselves as the premier store to shop for diamond and gemstone jewelry in their market.
“We are always looking for innovative ways to add value to our products and services to give our valued retail partners an edge over their competitors,” underscores Rajeev and Sanjay. They credit their team, some members with the company for more than 25 years, for nurturing a corporate culture that understands ASHI’s success is in the success of its retail partners.
While the brothers did not come from a long line of jewelers, the first generation in their family to be in the jewelry business, their parents encouraged their endeavor. Their mother Asha was the inspiration behind the company and its name. Their father Dr. Mahendra Pandya, who was a cardiologist and internal medicine physician, invested the initial capital to get the business started.
Today, the second generation of the Pandya family is coming up in the business. Joining ASHI® more than a decade ago Sanjay’s sons Vivek, heads sales and marketing for ASHI®, and Paras manages its Couture Division. Rajeev’s son, Akshay is finishing his studies at GIA, where all the Pandya men earned their GG. Vivek and Paras graduated NYU Stern Business School, as did Sanjay and Rajeev, while Akshay attended Cornell University.
ASHI® is a member of all the major retail jewelry buying groups and can be found at JCK Luxury and other major trade shows. To learn more, visit www. ashidiamonds.com.
What’s New
Kim International announces new collection
Tesoro Essential - On-trend 14kt fashion
Kim International is pleased to introduce their new on-trend Tesoro Essential collection of 14kt gold jewelry. Tesoro Essential is designed to mix and match, layer and stack. Most items are of Italian origin and all are price-point driven. The collection combines excellent quality with affordability, making it an ideal addition for the holidays.
KIM created the Essential display trays to be modular and customizable. They are stackable and never need to be set up or taken apart - quickly place in the showcase in the morning and stack
effortlessly in the safe in the evening. Individual pads can be switched out between trays to create preferred groupings.
Tesoro Essential emphasizes the hottest jewelry trends for 2024 by providing a modern take on timeless designs, that are on-point for today’s trendsetters. The variety of styles features gleaming gold, sparkling diamonds, and genuine stones. Pearls are back, and
Please see KIM page 14
Feronia sustainable lab-grown diamond jewelry from Ecolight Diamond NY Inc., now available for wholesale
(NEW YORK) - Feronia, a premium lab-grown diamond jewelry brand from the renowned Ecolight Diamond NY Inc., is introducing its collection of eco-friendly and luxurious pieces to the wholesale jewelry market. Specializing in VVS clarity, DE color diamonds, Feronia offers a high end luxury experience with a strong commitment to sustainability.
Designed exclusively for B2B clients, Feronia focuses on wholesale distribution, making high-quality lab-grown diamond jewelry available to retailers across the globe. All items in the Feronia collection are readily available to ship directly from the company’s New York office, ensuring fast delivery and exceptional service. To further enhance the customer experience, Feronia provides direct access to its inventory and offers volume discounts to business partners, making it an ideal choice for businesses seeking premium products with competitive pricing.
Commitment to Sustainability and Ethical Practices
Feronia Jewelry takes pride in its eco-conscious manufacturing process. Each piece is crafted using recycled gold and lab-grown diamonds, reflecting the brand’s dedication to sustainability. This approach minimizes environmental impact while still delivering luxury at its finest. In addition to creating responsible products, Feronia is committed to giving back - a portion of the company’s revenue supports initiatives that provide free medical and educational services to workers in the diamond industry.
Swapnil Jivani, CEO of Ecolight Diamond NY Inc. and Feronia, emphasized the brand’s commitment to both luxury and ethics:
“At Feronia, our mission is to offer the most exquisite jewelry while maintaining a focus on ethical production. By using lab-grown diamonds and recycled gold, we’re able to deliver on our promise of sustainability without compromising on quality. Our wholesale partners benefit from direct access to our inventory and enjoy volume discounts, making Feronia the go-to choice for luxury retailers worldwide.”
For more information, visit www.FeroniaUSA.com.
What’s New
New book honoring the life of Gems One founder Prem Jain
This August, Prem Jain, founder of Gems One, turned 82, marking his 50th year in business. Mr. Jain’s remarkable life story is captured in a new book written by his daughter Anita Bafna. The Seventh Diamond chronicles his inspiring journey and tells the story of how he achieved his dream.
“In the early days, my dad’s journey was anything but easy,” says Prem’s son Anuj Jain. “For the first seven years, he spent his Saturdays traveling to build a customer base while working five days a week as an engineer. My mother helped by shipping parcels during the weekdays.
His determination to achieve the American dream, his passion for entrepreneurship, and his desire to provide a good life and education for his family eventually led him to leave NCR and become a full-time jewelry wholesaler. My dad loves America and credits this great country for giving him the opportunity to build his dream.”
Driven by a commitment to always be available for his customers and provide unparalleled service, Prem built his business from the ground up. He learned the business and grew it by listening to his customers and under-
standing what they truly valued. As he nurtured these relationships, his business flourished.
“Dad always believed that change is inevitable, but how you respond to it is what truly matters,” said Anuj. “He emphasized the importance of expanding services, not contracting them. He became a consultant and a catalyst for growth for his customers.”
Because of Prem Jain, Gems One Trading has evolved into a company with core beliefs such as:
• Putting the customer first is the only way to grow.
• Providing tools to help retailers succeed is essential.
• Mutually beneficial relationships are the foundation of good business.
• Expanding product categories enhances versatility in stock balancing.
• Continuously strengthening services and back-office support. The Seventh Diamond is available on Amazon or you can email Anuj at anuj@gemsone. com.
Prem would love to hear from you. “At 82, he’s still as chatty as ever when he picks up the phone!” says Anuj. Prem can be reached at prem@gemsone. com or 937-684-3477.
KIM
Continued from page 12
KIM has used them in a more contemporary way, to dress up or down. Some styles feature bright enamel for a pop of color while others showcase natural stones like turquoise, lapis and tourmaline.
The styles are perfect for layering, to add dimension and create a unique look. Tesoro Essential makes it easy to create a chic stack, whether it’s rings, necklaces or bracelets. Layer delicate chains with chunky links to create a statement look. Dainty earrings, bolder hoops and long dangles are all included in the collection. Choose from flirty hearts, fun ladybugs and beads galore. Popular signet styles are included as well.
The Tesoro Essential Collection is designed to let your customers’ personalized style shine. Although the displays were created to be modular, items can also be purchased by the piece, and there is no minimum buy-in. To find out more, contact your KIM sales representative, call 800275-5555, email sales@kimint. com or visit www.kimint.com.
Prem Jain
By Diana Jarrett
The Story Behind the Stone e Funny ing About Gold
Wars have been fought to pillage it, pharaohs have fashioned sarcophagi from it, lovers commemorate milestones with it, and it is essential for producing high tech devices.
It is gold.
As jewelers, we are so adept at selling this material we almost become inured to its more outrageous attributes. But they are here for pondering.
Lest we begin to consider that gold is commonplace, here are some amazing facts about the precious metal that will make it seem all the more marvelous. Ready?
Here goes. It’s Been Around Gold is one of the earliest known sustainable materials. It’s so indestructible and having been highly valued throughout history, it has been routinely recycled. That means that 85% of all the gold ever found is still in use somewhere - in some form today.
While we gawk at ancient gold artifacts in museums whose existence dates back a thousand years, modern archeologists are still unearthing gold items far earlier than originally thought. For example, Bulgarian excavators recently discovered gold objects
Customer financing that’s a cut above the rest.
TD and Blue Nile have partnered to offer a multifaceted consumer financing solution. Together, we drive innovation and collaboration to increase conversions in a truly digital platform.
We are committed to our partners every step of the way through:
Carefully curated programs designed with your specific needs in mind
Our creative approach in featuring messaging throughout the entire digital ecosystem
Convenient training tools for sales agents to confidently educate customers on financing options
With TD, convenient financing plans are designed specifically with our customers’ needs in mind. Offering shoppers a seamless application and higher credit lines has greatly contributed to our success.
James Schultz, Chief Strategy Officer
Diana Jarrett
dating to 4,000 B.C. That means, the gold age actually overlaps with the Stone Age.
Came in Handy Early On
There was a practical use for gold too, going back millennia. Primeval dentists attached false teeth to their patients using non-corrosive gold wire around the 7th century BC. Historical records reveal that by the 16th century, gold fillings were de rigueur for banishing those pesky cavities.
Fast Forward
Doctors still don’t know why this works, but it does. For three quarters of a century, the preferred treatment for rheumatoid arthritis included regular injections of a liquid suspension of gold which acts as an anti-inflammatory.
Vast Hordes in Pre-Colombian Times
The material is finite, of course. But that doesn’t mean it wasn’t plentiful early on. Spaniards landing in Peru by 1532 came upon one of histories largest gold stashes. An Incan king negotiated his release from conquistadors who captured him by offering his 22 ft x 18 ft storehouse stocked to the ceiling with - gold. The Spaniards killed him anyway. Not nice.
And Now?
When it comes to gold reserves today, the US boasts the world’s largest stash, unless you consider its ornamental bounty. In that case, India takes the title. More than 20% of the decorative gold used throughout the world is found in the threads of Indian saris.
Jewelers Know This One of gold’s most unique attributes is its malleabilitythe ability to be hammered and pressed permanently without ever cracking or breaking. Bench jewelers understand the ductile strength of gold too - its capacity to be drawn into a wire, seemingly forever.
A single ounce piece of gold can be beaten into a translucent sheet five-millionths of an inch thick. It can be drawn out to 50 miles of wire, five micrometers thick - equal to 1/10th of a human
Stuller becomes Great Place To Work® Certified™ Podium launches enhanced integration with The Edge by Abbott Jewelry Systems
(LAFAYETTE, La.) - Stuller is excited to announce its official certification as a Great Place To Work®, a prestigious recognition by the global authority on workplace culture, employee experience, and leadership excellence.
“Receiving the Great Place To Work® certification is a tremendous honor and a testament to the incredible culture we’ve cultivated here at Stuller,” says Danny Clark, president of Stuller. “What truly makes Stuller a great place to work is the dedication, passion, and positive spirit that each of our 1,500 employees brings to work each day.”
“We are thrilled to be recognized as a company where employees feel valued, supported, and inspired to do their best work,” says Jennifer East, vice president of human resources. “We believe that our employee initiatives over the past few years, such as Stuller S.E.R.V.E. and Stuller Cares™, have significantly contributed to creating a positive and engaging work environment.”
This certification highlights Stuller’s commitment to fostering a supportive and thriving workplace. “We’re proud of this recognition and excited to keep enhancing our company culture.”
To learn more about Stuller and explore career opportunities, visit Stuller.com/Careers.
Great Place To Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience - specifically, how consistently they experience a high-trust workplace. Great Place To Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.
Learn more about Stuller at Stuller.com.
(LEHI, Utah) - Podium, a leading AI-powered communication and conversion platform for over 100,000 local businesses, is proud to announce the launch of an enhanced integration with The Edge by Abbott Jewelry Systems.
Available now, this improved integration introduces robust data syncing functionality between The Edge and Podium, including a twoway contact sync and inventory sync between systems, as well as inventory item sharing capabilities.
“We are thrilled to launch this enhanced integration with The Edge, which marks a significant milestone in our continued commitment to the success of jewelry retailers. By merging The Edge’s powerful POS and inventory data with Podium’s communication and conversion tools, we are equipping retailers with unprecedented capabilities to deepen client relationships and streamline operations,” says John Foreman, Chief Product and Marketing Officer at Podium, “We are excited about the opportunities ahead as we continue to work closely in partnership with The Edge.”
“Abbott Jewelry Systems is pleased to announce the integration of Podium’s new and improved CRM solution,” says Mike Abbott, Director of Sales at The Edge. “The new solution which will bidirectionally synchronize customers, upload Edge inventory items to Podium enabling Edge users to text their customers links to products, descriptions, images and prices among other enhancements will make Podium an even more valuable tool to Edge users.”
To learn more and request a demo, please visit www.podium.com.
Learn more about The Edge at www.theedgeforjewelers.com.
Why your website is like a bad date - and how to make it irresistible
By Guy Pineda
It can be thrilling to go on a date and meet someone new and discover if there is chemistry between the both of you. But what happens if your date falls short of your expectations?
Going on a date and visiting a website share several similarities. Both experiences rely on making an excellent first impression, nurturing significant engagement, and leaving the other party pleased and excited for more.
Will you consider a second date with the person that left you
bored and unimpressed? Will you continue to browse through an unappealing website?
Creating an irresistible website is crucial to your jewelry store. You need to attract, engage, and encourage visitors to take the action you want them to. Your date should not only be charming but should also be a pleasure to be with.
An extraordinary experience with your date can lead to a second date and, who knows, blossom into something more profound. Similarly, a good website user experience can build loyal customers.
Irresistible vs. Unappealing Websites
Everything on a visually appealing website runs smoothly, making users eagerly want to explore more. Like a date where you both have the chemistry and connection, an irresistible website offers what users need and want.
First Impression Matters
Your date and website only have a few seconds to impress.
Your initial impression of your date sets the tone for the entire night. It sets the tone of whether the date continues without a hitch or quickly ends.
The first thing a user notices in your website is its layout, design, and overall aesthetic. A visually appealing and easy-tonavigate website motivates users to stay and explore more. A bad first impression causes users to exit your site, similar to what you would do on a date.
Guy Pineda
Look your best
A date showing up inappropriately dressed may make you feel disappointed. Similarly, a website with a cluttered layout, poor visuals, and lousy fonts and colors can turn off visitors. Users may feel uninterested in further exploring more, similar to having the urge to end a date.
Your jewelry store website should have a simple, clean layout highlighting your merchandise to entice your visitors to explore further. Similar to how your date looks, your website design should showcase your brand’s appeal to your target audience.
Don’t make it confusing
Have you been on a date where the conversation is confusing? You ask a question and do not understand what your date is trying to say, leaving you lost and frustrated.
Poor website navigation is similar to an awkward conversation. Confusing menus result in users not finding what they are looking for.
A good date is one where conversation flows naturally. You both click and understand each other. A website with intuitive and user-friendly navigation is like an engaged conversation with someone interesting.
Call-to-Action
Your date has been going smoothly, but when it’s time to call it a night, your date leaves you unsure of what to expect next. This is like an ineffective Call-to-Action, translating to missed conversions - a good and effective Call-to-Action converts.
Don’t be Self-centered
Does your date dominate the conversation and not make you share in it? Accordingly, confusing navigation and irrelevant content do not resonate with the users’ search intent, resulting in a
By Slav Galkin
Marketing Beyond Commodity
The current industry dialogue is dominated by the polarizing debate between natural and lab-grown diamonds. However, jewelers’ challenges extends far beyond this. It resides in the realm of marketing messaging and the formidable hurdles of differentiation, consigning stores to a commoditized sphere where price alone dictates. There exists an urgent need to explore innovative and proven, yet underutilized, strategies to break this mold.
How do you capture prebridal consumers and drive store traffic effectively?
According to an article by
Archrival x Vogue Business, over 70% of Gen Z and Millennials prefer in-store purchases but heavily rely on social media for research (https://www.voguebusiness. com/story/consumers/genz-broke-the-marketing-funnel). A retailer’s challenge is to facilitate this research amidst the overwhelming and costly digital marketing noise. The solution lies in diversifying digital marketing efforts with traditional techniques like direct mail, which guarantees an initial impression at a fraction of the cost. Direct mail not only supports further online research but also effectively
initiates the consumer journey.
To leverage this strategy, retailers need a media-savvy partner capable of delivering direct
mail that aligns seamlessly with their store’s profile and carries a relevant product assortment to facilitate client engagement. Well executed marketing campaigns can target pre-bridal consumers early in their journey, when acquisition costs are lower, positioning retailers to cultivate lifelong clients. In contrast, marketing to actively shopping bridal clients, especially purely through digital channels, is more expensive and less efficient.
How to communicate so they will listen?
Once on a consumer’s radar,
the next step is crucial. Capturing the attention of today’s clients, whose journey is non-linear and whose brand loyalty has evolved, begins with compelling storytelling - not the retailer’s story, but one that resonates deeply with the consumer. Heritage stories and promises of longevity or familial treatment no longer captivate modern consumers.
The key to understanding your target audience is to admit that one of the most profound misconceptions in marketing is the belief that offering more choices benefits consumers. In reality, excessive choices act as a cognitive tax. What customers truly desire is not an abundance of options but confidence in the choices they are making.
The average American adult makes over 30,000 decisions a day. Each decision incrementally depletes our mental resources, leading to a phenomenon known as decision fatigue. As the day progresses, our capacity to make decisions wanes, leaving us overwhelmed and disengaged.
What insights can we extract from this?
Effective marketing hinges on consistent messaging that clearly articulates your business’s core competencies and emotionally connects with your audience. This strategy is crucial for several reasons: It creates a strong brand identity, showcases expertise to build trust, and fosters emotional connections for enhanced client engagement.
Ultimately, this streamlined approach nurtures customer loyalty, enhances brand perception, and drives successful marketing outcomes. By reducing the cognitive load on your customers, you not only improve their experience but also position your brand as a reliable and trustworthy choice in the marketplace.
A strategic solution
Private labeling is often touted as a solution for market differentiation, but its successful implementation has been rare. It demands a comprehensive, consumer-centric marketing strategy, ready-to-use digital and in-store marketing assets, displays, a full
Slav Galkin
Remembering Jeff High: A visionary leader in the jewelry industry
(LAFAYETTE, La.) - It is with heavy hearts that Stuller announced the passing of their former colleague and founder of Gemvision, Jeff High on Thursday, September 5, 2024, after a courageous battle with cancer. Jeff dedicated his professional life to the jewelry industry, forging lifelong connections with jewelers across the globe.
Matt Stuller saw Jeff as a powerful visionary for the future. “Jeff and I spent countless hours talking about the future,” says Stuller, founder of Stuller. “I loved his commitment to the industry and his natural slant towards technology. Jeff was always tinkering with gadgets and never quite satisfied with anything he touched. When Jeff believed in a vision, he was a fierce debater and saw endless possibilities ahead. Jeff’s work at Gemvision and Stuller will influence all of us for decades to come. We are forever grateful for our time with Jeff, although it was far too short.”
“Jeff was always focused on the future,” says Danny Clark, president of Stuller. “Those fortunate enough to have spent time with him witnessed the power and inspiration of his vision firsthand. Even as the team worked on his latest idea, Jeff was already busy reinventing it. That was the magic of Jeff, a quality that will be deeply missed.”
It is with great sadness as well as fond memories and joy that Stuller remembers Jeff and his remarkable life.
JARReTT
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hair’s diameter.
Blingy Outer Space
We consider gold to be a perennially favored jewelry metal. But its applications are really out of this world. Astronaut’s visors are covered with a thin gold film to shield their eyes from glare while soaring through space. Gold foil was also draped over the Apollo lunar landing modules to protect astronauts from radiation
Just Make More of It!
The dream of alchemists throughout history has been to change base metals into gold. This seemingly impossible achievement was realized to a certain degree in Soviet nuclear reactors. They discovered that
radioactivity transformed some lead nuclei into gold - albeit in small amounts.
It’s there, but you can’t get to it! An estimated 10 billion tons, the largest reservoirs of gold on Earth, lie at the bottom of our vast oceans. Alas, there’s no practical way to recover it.
But that’s not the only place where gold lies just out of reach. In 1999, the NEAR (NASA’s Near Earth Asteroid Rendezvous) spacecraft revealed that a single asteroid, Eros, contains more gold than has ever been mined on Earth - period.
But Wait, There’s More
While the supply of gold is definitely finite, from time to time its recovery in large amounts stirs hope that it will be available for jewelry application for quite some time.
Keeping that dream alive involved a couple of Scottish prospectors mining in Victoria, Australia in the mid-19th century. They came across an adult human sized nugget of solid gold so large and heavy that it needed to be broken down for transportation. The men were rewarded with just under £10,000 for their exceptional find. Today of course, the payoff would be an incalculable fortune, even on a bad gold day. Yet who knows where or when another colossal gold nugget will turn up?
Award winning trade journalist and gemologist Diana Jarrett is a Registered Master Valuer Appraiser and a member of the Association of Independent Jewellery Valuers (AIJV). She’s a popular speaker at conferences and trade shows. Jarrett writes for trade and consumer publications, online outlets, her blog: Color-n-Ice, and www.jewelrywebsitedesigners.com. Contact her at diana@dianajarrett.com, visit her website at www.dianajarrett.com, and follow her on Facebook and Twitter (Loupey).
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The Retailer’s Perspective
What I learned at the Atlanta Jewelry Show
By Chuck Koehler
I was at the SJTA Atlanta show recently and sat down for a lengthy conversation with Donna Roy, Area President of Jewelry, Fine Art and Numismatics at Arthur J. Gallagher, an Insurance Brokerage Firm. Donna is the head of the Fine Art and Jewelry team that deal exclusively in the ‘valuables’ business.
Donna’s team handles jewelry stores, diamond & jewelry wholesalers, manufacturers, coin/ bullion/metals dealers, refiners, and large personal collections to name a few. They can also handle
your commercial insurance needs and are very familiar with the protections needed for your business. Gallagher was founded in 1927, and acquired the Jewelers Block team a few years ago, because of their 30+ years of experience in the jewelry industry. I don’t know why I’ve never known about them before. As far as I knew, there were only a couple of options available to us. I never knew this option was available, until now!
One thing really unique about Donna, and her team, is that their office is right in the heart of the Diamond District in
New York City. Right there in the 10036. They are in and out of the 580 Building almost every single day. They are ‘eyes on’ daily to what is happening in our industry, right at the epicenter. In addition to servicing the larger NYC area, they work with jewelers around the country and are always happy to provide references.
Of course, one of my first questions was regarding shipping coverage, mainly coverage while using the United States Postal Service. The answer was yes, Donna advised that many insurers they work with are still offering this coverage. They are liter-
ally walking through the district for hours every day and they see how the various couriers make their deliveries. They talk to the people that are actually handling the boxes. They talk to the people that manage all of those deliveries. They see what is happening on the ground, all day, every day and are passionate about trying to make sure the voice of the jewelry industry is heard. Not many insurance reps can make that same claim.
Donna, and her team, which includes her daughter Brianna, who was raised to be passionate about the jewelry trade (and
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brings me snacks at the jewelry show), are insurance brokers that represent multiple companies that underwrite the very policies that we all need. Because they are brokers, they have options that you might not even know are available to you. Just call Donna and her team and let them show you how they can help you with your insurance needs. They are happy to perform a health check on your current policy at no cost to you with no strings attached.
And, you don’t have to just be a retail brick and mortar store. They write policies for wholesalers, online businesses, individuals that work out of their homes and even policies for all of the ‘road dogs’ that are still out there logging the miles. Those guys are my heroes, by the way. Still out there, still making house calls.
While we were talking, I asked about ‘best practices’ that we could employ to help ‘cushion the nightmare’ in the event of a loss. Here are a few things that she said we all need to do better: Establish the value of the piece at take-in
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Yeah, yeah, yeah, I know I should do that, but I almost never do. Donna explained in the event of a loss “she’s seen time and time again that the customer’s diamond becomes the Hope Diamond.” At take-in, the sentiment is not the same as it would be in the event of a loss. A $5K ring is a $5K insurance settlement, not the $105K payout the customer will expect if you have to start the negotiations ‘after’ a loss has occurred.
Insure your package for the correct $$$ amount
I’ll admit that I’m guilty of just picking the top dollar amount of my coverage on most of my packages. It doesn’t change what it costs me to ship if I insure it for $1,000, or if I insure it for $50,000. The reason is you are creating a shipping record of the value of your shipments that insurance companies pay attention to. If you’re always insuring $5,000 packages for $50K that can, and will be, factored in to
Chuck Koehler
By Corkie Bolton
Welding For Gold Work
Ever since I first started making jewelry, I have been drawn to gemstones. The colors and shapes, the stories behind them. Their ability to make any piece of jewelry truly one of a kind. I will never forget in high school creating my first bezel setting and then setting that first stone. The joy! The frustration! The endless possibilities. I was hooked on making jewelry and later decided I wanted to study jewelry in college and pursue a career in it.
While I was at Pratt Institute majoring in Jewelry we got exposed to many different techniques and I began to experiment
with creating intricate stone settings and more complicated jewelry projects. The struggle was real! Creating custom bezels for faceted stones takes a lot of practice, and then after I would create the bezel there was the matter of attaching it to a ring, earrings or whichever design I had in mind. I have always struggled with this aspect of it. Putting together all the components of a piece to solder them together can be a bit of a challenge depending on your design. As a beginner I found myself creating a solid bezel setting but then soldering it onto my ring all askew or I didn’t have a good connection between various parts, and I would melt things as I at-
tempted to solder them. All these experiences are a part of learning and over time my skills improved. However, for many years my work focused on sterling silver pieces. Relative to gold, silver is an inexpensive material to work in and allowed me to create affordable pieces. I set tons of turquoise and other semi-precious cabochons but had shied away from intricate settings or more advanced pieces because the more expensive gemstones and increased labor didn’t make sense for my silver pieces. I would have had to charge too much for them. My heart yearned however for that candy store of gemstones I knew was out there!
In 2023 I decided to work exclusively in gold and focus my efforts on becoming a better engraver and stone setter. I had the wonderful opportunity to take a class with a Florentine Goldsmith in Florence, Italy for a week. Our project was to create a custom prong and/or bezel setting ring whose ring shank was
constructed from a hollow tub, as an overachiever I decided to make two rings!
It was a challenge! Everything had to be filed perfectly and set up with binding wire to be soldered. This traditional technique works amazing, but with my limited experience was very time consuming. Things kept moving around and wobbling, but eventually I got it!
When I returned from the trip, I made a commitment to keep working in gold and pushing myself outside my comfort zone. The stakes were a little higher now, I would be spending more time on each piece and melting a gold piece, while not the end of the world, would be an expensive mistake. During this time, I had also been using my Sunstone pulse Arc Welder and incorporating welding into my jewelry making process. My Pulse Arc Welder was allowing me to do things that traditional soldering wouldn’t allow. An example being I would apply a few welds to “tack” two
Corkie Bolton
Tourmaline Gold Ring by Corkie Bolton Jewelry.
London Blue Topaz Prong Gold Ring by Corkie Bolton Jewelry.
A gold ring is prepared to be soldered with binding wire.
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WeldIng
Continued from page 30
components together so that I could solder efficiently, minimize oxidation and not have something go askew at the last minute!
Learning to work with the machine was easy and I started finding ways to utilize it. I continued with my custom gold settings and found that I could use a weld to position them where I wanted, and I could breathe a little easier as I soldered. I started using it for position jump rings, bails, ring shanks, and multiple settings together.
I wanted to share some of the step-by-step process of my most recent custom ring and talk about how I used my welder. I started by creating a slightly tapered bezel for a stunning aquamarine cabochon in 14k yellow gold. Next, I created a ring shank which had to be cut and angled to match the setting.
This is the part that I always struggle with, one wrong file stroke and you can make the shank not fit the setting. It is a lot of back and forth. For some talented jewelers they can get it so precise and tight the ring shanks can simply sit on the setting and be soldered. This is a skill I have
yet to master. With this design it is also tricky to get it all set up with binding wire and overtightening the wire can mar the metal. I decided to use my Sunstone Orion mPulse® to tack the ring shank in place. First, I marked a center line across the setting with a Sharpie, so I had a reference point of where I needed to weld. I welded one side first and then examined the ring, making sure the ring shank was even and straight.
Then I welded the other side, I did the weld on the bottom part of the ring and the underside. Since a weld can sometimes create a little indent, I wanted to make sure they were at the bottom and where solder will easily flow into the area.
I was now ready to solder,
ing the bezel and getting the ring shank to fit, but the tacking saved me so much time. You can see the ring now easily balanced for soldering, however I did clean the welded area prior to soldering. Once cleaned, I fluxed and soldered, having the confidence nothing would move while the flux bubbled on the surface or when I poked the piece with my soldering pick!
My solder joins were beautiful! The solder flowed over the
it was truly that easy. The most time-consuming part was creat-
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Visit our website to discover the many other advantages of RJO membership and how to apply.
welds, and you could no longer see them!
Using this technique with the welder was beyond helpful for creating this ring. From there I focused my energy on setting the beautiful aquamarine and polishing the ring to perfection!
My welder has not replaced my traditional jewelry making techniques, but it has enhanced my ability to do certain things. Whether I am making a custom engagement ring or experimenting with new designs, my welder saves me time. I am grateful to have this piece of equipment in my studio!
Corkie Bolton began making jewelry in high school, and graduated from Pratt Institute with a degree in metalsmithing in 2007. She launched, Corkie Bolton Jewelry, in 2016 and the Metalsmith Society, an Instagram community where jewelers can share information, ask questions, and learn, in 2018. Contact her at corkieboltonjewelry.com or via Instagram @corkieboltonjewelry.
PROUD VENDOR PARTNERS:
Sunstone Orion mPulse®
Gold and aquamarine bezel and ring shank.
Corkie in her studio using her Sunstone Pulse Arc Welder.
The ring shank has been tacked in place using a few welds on the underside.
The ring can now balance, however I must clean the welded area prior to soldering.
The ring is now soldered, and the welds are no longer visible.
The finished gold ring.
PInedA
Continued from page 20
bad user experience.
Websites should always focus on a good user experience to foster positive outcomes.
Personality Matters
A date without character and personality is dull and forgettable. A website without a distinct
JIS
Continued from page 6
• Visual Merchandising for the Holidays
Lyn Falk, CEO & President of Retailworks, will share strategies for creating captivating store displays that enhance the festive shopping experience, driving traffic and boosting sales.
• Marketing & Selling to Each Generation
Chae Carter, Owner of the retail store Carter’s Collective and Shea Curry, Founder & CEO of Catch Social, will dive into effective marketing and sales strategies tailored to different age groups, ensuring brands and retailers connect with customers across generations.
• Creating Standout Customer Experiences
Constanza Viera, Founder & Designer of Diamond Tales, and Jessica Wilcox, CEO of J Wilcox Consulting, will explore innovative approaches to customer engagement, event creation, personalization and loyalty-building in today’s competitive market.
Education Sessions Sponsored by De Beers Group
In addition to the keynote panel, JIS Fall will feature exclusive education sessions sponsored by De Beers Group, focusing on the unique selling points of natural diamonds. Led by Elizabeth West, Senior Technical Educator at the De Beers Institute of Diamonds, these sessions will provide invaluable insights into integrating key attributes of natural diamonds into sales strategies.
Session Details
• Sunday, October 6, 2:002:30 PM; 4:00 - 4:30 PM
• Monday, October 7, 11:00 -11:30 AM; 4:00 - 4:30 PM
• Tuesday, October 8, 11:00 - 11:30 AM
• Location: Education Stage
Introducing the Business Center
New to JIS Fall, the Business Center is designed to enhance the overall show experience and networking opportunities. Open daily, this lounge provides a comfortable space to hold meetings, access business resources and connect with industry peers. Visit jisshow.com for more information and to register.
personality does not reflect the brand’s voice and values.
Similar to a date, a website with personality creates relatable and memorable experiences. The tone and voice that echo your brand’s character ensures an engaging user experience. Give your website your voice.
Be Reliable
An unreliable date cancels at the last minute or arrives late, causing frustration. Unfulfilled expectations make visitors less likely to purchase or return to your website.
A date and website should be reliable to build trust and ensure a lasting impression. Negative experiences can be shared with other users, leading to a bad reputation, which could severely af-
fect the success of your business.
Sealing the Deal
Not gracefully ending the date or a lack of closure could lead to awkward future encounters. In a website, not sealing the deal means not being able to convert leads into paying customers. This is often due to websites lacking trust signals or a weak call-toaction.
A good date often ends with both parties saying they had a great time. It may also include indicating mutual interest in having a second date. A website should effectively guide users to an expected conclusion, such as making a purchase or filling out a form.
Don’t be that guy (or girl) Make sure your website is
appealing, interesting, leads to more, and seals the deal. If it isn’t, you have a problem. Get some help to turn your website from loser to lover!
Guy Pineda, CEO of Jewelry Store Marketers, has owned an award winning digital agency for the past 15 years and has been working in the jewelry industry
for close to 30 years. Jewelry Store Marketers is niche agency that helps jewelry stores get more appointments and increase sales through Local SEO, Digital Marketing, Website Development, Social Media, Videos and more. Learn more at jewelrystoremarketers.com.
gAlKIn
Continued from page 24
product range in key jewelry categories, and a digital platform to enhance the in-store experience for custom design and instant bridal modifications.
At Gems One we have devised an all-encompassing solution to position retailers for future success. It alleviates the burden and cost of marketing asset development, enabling swift deploy-
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ment with a sensible investment. By building a robust marketing identity we ensure demand is generated before expanding into a wider product assortment. Our two years of market analysis and trend anticipation have culminated in an effective approach for transitioning to a natural diamond narrative and positioning your store brand at the forefront of your marketing efforts.
For many retailers, the unrealized value lies within their own brand and now there is a strategy to unlock it. To learn more please contact me at slav@gemsone. com or 917-385-5641.
Slav Galkin is the Vice President of Strategic Business Development for Gems One/Alpha Lab Grown. Learn more about Gems One at GemsOne.com.
CHUCK
Continued from page 28
your exposures every year when your policy is up for renewal, which directly affects your premium. Accurate exposure reporting is crucial to obtain the best rates and correct coverage. Let’s pretend in the course of a year you legitimately ship 18 packages worth $5K, and only 2 packages worth $50K, but you claim $50K on all 20. In the real world, your exposure was $190,000 that year. To your insurance company, their exposure was $1,000,000. These statistics affect your premium every year at renewal. That was something I never really thought about. I’m now much more precise when I’m assessing the value of my packages.
Keep records of shipments very separate
Finally something I’m doing correctly. Having had to deal with the aftermath of losses, Donna told me that most people keep their repair records in the same place that they keep their repairs. In the event of a robbery or a burglary, the bad guys tend to scoop up everything in sight, and sort the wheat from the chaff at a later date, in a land far, far away from your business. If your repair box gets stolen, and all of your repair logs are in that box, your nightmare just got worse.
That reminded me of what was drilled into us at the Texas Institute of Jewelry Technology. When transporting jewelry, always keep it on your person, and not in your car, no matter how
well you have it hidden. If your car gets stolen, this would not be an insured event unless unattended auto coverage is purchased, which is an expensive coverage that not many of us purchase. But if your car is stolen, the jewelry is just as gone.
It was an interesting conversation about options that I never knew were available. I’ve written many times about how all of us are ‘trapped in our boxes’ 5 or 6 days a week. We all get tunnel vision about what’s out there, about what is available to us that we never discover because we’re all spending 50-60 hours a week running our businesses. That’s the beauty of going to the shows. You see and experience things you didn’t know about before you went, like new options for your business insurance.
Contact Donna Roy at 212763-3421, or her cell at 914424-6023, or by email at Donna_ Roy@ajg.com.
Now, on an unrelated topic, I have an idea I’d like to throw out there and see if I’m crazy or not. Mike Rowe, the host of the TV show ‘Dirty Jobs’ has a foundation that raises money for scholarships, and in turn, sends people to trade schools instead of the university. Here is a statement from his website;
For the tenth year in a row, we’re launching the next Work Ethic Scholarship Program and giving away another $1,000,000 in scholarships this year. We’re looking for hardworking men and women who will keep the lights on, water running, and air flowing - people who will show up early, stay late, and bust their asses to get the job done. It’s not for everyone, but we know hard workers are out there.
What’s missing from that list? Hell, what’s missing from our industry? Young people learning the trade of becoming a ‘bench jeweler’! Can we, as an industry, muster enough support to get Mike Rowe to pay attention to the dire need for new bench jewelers? I think so, but I need some help. I don’t know Mike, and I don’t know anyone that does. How do we make this work? I’ll take all the help I can get.
Chuck is the owner of Anthony Jewelers in Nashville, TN. Chuck also owns CMK Co., a wholesale trade shop that specializes in custom jewelry and repair services to the jewelry industry nationwide. If you would like to contact Chuck or need a speaker or instructor for your next conference/event he can be reached at 615-354-6361, or send e-mail to info@southernjewelrynews.com.
Many in the fine jewelry industry are bullish on the market, like Asaf Herskovitz, CEO of GN Diamonds, Philadelphia, Pennsylvania. “Inflation is coming down, the lowest since 2021. The stock market is up 26% from a year ago. Why am I saying this? Because it matters if people feel good, if the consumer is still super strong, Christmas is going to be very strong.”
Herskovitz does not think it matters that it’s an election year or who gets elected. He believes in the strength of the U.S. economy, as he shares in a recent webinar on GN’s website. “Strongest in the world, $25 trillion, 5% of the population, 50% of all consumption of diamonds, cars, houses, and other luxury goods. I feel strongly about where we are, where the first seven months of the year have been, and where it’s going to be after Christmas.”
While inflation remains a concern for many, Rajeev Pandya, partner in ASHI Diamonds, New York City concurs that there are positive signs that highlight the economy’s resilience. “Many individuals have received raises, helping to offset increased costs. The stock market’s strong perfor-
Personalized jewelry is hot. ASHI’s Personalized Collection offers custom signature pieces like diamond name and date jewelry via a microsite.
mance has contributed to growth in 401K accounts. Increases in real estate prices have led to increases in home equity, and overall financial security. There’s noticeable recovery in travel, with full flights, busy restaurants, and strong hotel bookings, all indicating renewed consumer confidence. Prices in many sectors are stabilizing. With the Federal
Amit Patel, CEO of Gemstar, Irving, Texas, encourages jewelers to offer both natural and labgrown diamonds so you won’t lose business to online companies for not having it available. “We’ve invested a great deal in expanding our line with lab-grown diamonds this year. We’ve seen growth, and most likely will see exponential growth in December.”
Patel also reports that lower priced ticket items in natural diamonds are performing well, advising that these products will be important for retailers to have at the counter for impulse buys, as more people are making last-minute purchases.
Herskovitz says that about 70% of all jewelry sold is set with diamonds, with the engagement ring No. 1 in the category. Stores are selling more 2-carat mined diamonds, and more ovals than they
Reserve planning to lower interest rates, we can expect declines in mortgage rates and other borrowing costs.”
ASHI serves more than 1,000 independent jewelers across North America, many of which Pandya reports are performing at or above the levels they achieved during the COVID pandemic. “Our retailers remain strong.”
Diamonds Dazzle
Diamonds are selling, Herskovitz cheers. “We’re selling a ton of lab-grown, more than last year. But there has been a shift in natural diamond sales, with our natural business up 30% this year.”
Herskovitz describes seeing 20-year-olds going into stores everywhere in the country saying about lab-grown diamonds that they know 30, 40 years from now there is no trade-in value. So, what’s happening is more young people are buying natural. He finds this for engagement rings, as well as diamond basic styles.
Diversified in both natural and lab-grown diamonds, GN Diamond works with 5,500 independent retailers, talking to at least half of them daily, says Herskovitz. While the margins are high for lab-grown diamonds, he underscores that the overall dollars are in natural diamonds.
and price points. Popular styles include rings that resemble stacks with a single pearl or “me and you” duo; hoop earrings beaded with pearls or dangling a pearl drop; necklaces like the half chain half pearl strand; and bracelets that combine pearls with links.
For the 2024 holiday season, Lafayette, Louisiana-based Stuller is emphasizing bold, colorful designs in their jewelry trends. A major theme is the use of red, which continues to be a favorite thanks to cultural influences like Taylor Swift and other celebrities embracing the color, as Emily Graffagnino, executive director of fine jewelry and gemstones explains. Stuller expects red gemstones to continue to be popular into the New Year.
Graffagnino also spoke about the strong trend for customization. In fact, in a recent report
ever have in the past, he says, citing that about 40% of what gets sold in America are round, 25% oval. “That’s 65%. That’s what you should focus on if you’re not Bank of America and can’t afford everything you want. What we’re starting to see sell again is anywhere from half carat to a carat and a half, SI1, SI2, and I1.”
Moreover, Herskovitz cites a tremendous uptick in riviera necklaces, five-stone rings, and inline diamond bracelets. He calls diamond stud earrings the “least returned item of all jewelry,” and tells jewelers to expect to sell more of them in 2 to 4-carat total weight range.
Bright Spots
Personalized jewelry has really taken off and not only in the bridal category. Meeting the demand, Pandya says that ASHI launched last year a collection enabling independent jewelers to offer custom signature pieces like diamond name and date jewelry via a microsite.
Next to diamonds, cultured pearls continue to be top of mind with consumers, especially Gen Z, as Quality Gold underscores in a recent trends report. Versatile and easy to mix and match with other jewelry, pearls offer a smorgasbord of shapes, sizes, colors,
from Stuller of jewelry consumer searches for the second quarter of 2024, interest in custom jewelry is there. And, not just for engagement rings, but also custom pendants and necklaces, even personalized imprinted jewelry boxes came up in the mix. Stuller also cites a steady upward trend in searches for pearl jewelry, including men’s pearl jewelry, and tennis bracelets (diamond, gold, lab-grown, moissanite) in recent monthly search results.
In a recent consumer sentiment update by McKinsey, people across all age groups reveal a desire to selectively splurge, with Gen Zers and Millennials the most likely to do so for jewelry. The update cites that the run-up to the holidays may buoy spend in discretionary categories where consumers may have been cutting back like jewelry.
Federica Levato, a partner at Bain and co-author of the study, sees steady demand for bespoke pieces, and interest growing for high, fashion, and men’s/unisex jewelry. Success this holiday season and into the new year, she says, will come to brands focused on creating unique value propositions across price points, while maintaining strong customer connections.
Pearl jewelry continues to trend with consumers. Images courtesy Quality Gold.
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