Jewelry Business Guru by Cindy Edelstein

Online Jewelry Shopping Gains Momentum

In the past few weeks I've had more designers mention their new e-commerce website than ever before. And I've had a chat with a few retailers -- one in particular who has a fantastic online presence, too -- who are considering dropping vendors who launch e-commerce sites.

I find this a very interesting trend and dilemma -- but it's one who's time has come. When you've got wholesale accounts it's a very tricky line to walk. On one hand, you're competing with your own customers, on the other you're growing your brand and serving more consumers (hopefully) than ever before. [TIP: Surf the net for a while and visit sites for designers you admire. See who's retailing and how it's done. Check prices to make sure you're not underpricing your work nor your customers' normal pricing.]

Online jewelry consumers are gaining momentum and it's hard to ignore their purchasing power.

According to JCK magazine's news website:     Diamond and jewelry Web sites were among the big winners on Cyber Monday, according to Shop.org. Traffic to Ice.com was up more than 70 percent and sales rose 82 percent. Diamond.com traffic rose 58 percent and sales increased 65 percent. .... read more

Retail jewelers will have to get better about cyber shopping and designers will have to figure out how to have their site and keep their customers, too. Each will have to find a way to agree -- even if it's to disagree.

It will be interesting to watch how the dust settles. What do you think? Share your comments with us.

 

Bergdorf Goodman is Best Luxury Retailer

Bergdorf Goodman was rated the most prestigious traditional luxury retail brand in the 2007 Luxury Brand Status Index survey from the New York-based Luxury Institute. Sister brand Neiman Marcus was rated second while Nordstrom rated a close third. Bergdorf Goodman was rated the most prestigious traditional luxury retail brand in the 2007 Luxury Brand Status Index survey from the New York-based Luxury Institute. Sister brand Neiman Marcus was rated second while Nordstrom rated a close third. "This category rankings are generally stable, although the addition this year of ratings for the growing luxury e-tailer category changes the overall ratings dynamics significantly," said Milton Pedraza, chief executive of the Luxury Institute. "Wealthy consumers tell us that highly exclusive e-tailer Vivre outscores all traditional luxury retailers when the sub-categories are combined. No other e-tailer comes close. While smaller, and not as well known, Vivre has managed to become a highly exclusive e-tailer at a transitional time in the history of luxury when wealthy consumers tell us that a trusted brand, exclusive product relevance, convenience, and security are the hallmarks of a great luxury retailing website, and that offline presence matters far less than executives believe." Traditional Luxury Brands rated (alphabetically) were: Barneys, Bergdorf Goodman, Bloomingdale's, Brooks Brothers, Neiman Marcus, Nordstrom, and Saks Fifth Avenue. Online-only e-tailer Luxury Brands rated (alphabetically): Bluefly.com, eLUXURY.com, and Vivre.com.

-- JCK-Jewelers Circular Keystone, 6/4/2007 2:28:00 PM

Green Jewelry

Usually when I'm asked about "Green Jewelry" it's a trend report featuring peridot and tsavorite. But now the term has a whole new meaning. Recycled. Ecologically sound. Even "Clean."

Two weeks ago I read about a boutique in NYC that is changing it's focus from discounted designer wear to full-priced Eco-friendly wear (Accessories and jewelry included) and now comes news from NYC design mecca ABC Carpet & Home. For those of you who haven't been there -- it's way more than carpet! What once was just that has morphed in the past two decades into being a total lifestyle store for the cool, trendy and fabulous. They have had a few jewelry counters on the first floor for years.

And now WWD reports today:

ABC Carpet & Home's latest initiative is clean jewelry.

Last week, the firm launched the Grounded Jewel Collection, a new section in its Manhattan flagship dedicated to fine jewelry made from sustainable materials such as recycled gold and diamonds from mining firms that assist the people of mining countries.

Sustainable goods aren't new for Paulette Cole, chief executive officer and creative director of ABC Home. Twenty-five percent of the firm's products, including furniture and housewares, are now sustainable.

Being green has become a hot-button issue, and jewelry — particularly, how it is obtained — is also touching a nerve. The release of the film "Blood Diamond" starring Leonardo DiCaprio, coupled with recent initiatives to aid citizens of diamond-mining countries by well-known figures such as Russell Simmons, has raised public awareness about how gold and diamonds are mined.

Even though the Kimberley Process — a certification plan intended to ensure that diamonds aren't mined and traded to finance illegal activities and violent conflicts — is intact, some jewelry retailers have said that consumers were inquiring about the provenance of gemstones and gold.

"Customers are much more curious about the origin of a product and how it is made," said Cole. "They want to own things that support a community and support sustainability of our planet. There is awareness around recycled materials and knowing that diamonds come from a responsible source that supports a better than fair income and the community.

Sarah Perlis, the 28-year-old owner of an eponymous New York jewelry firm, is the first to offer her wares at the Grounded Jewel Collection at ABC. The store, at 888 Broadway, has sold Perlis' collection for the last three years and she worked closely with Cole on sourcing recycled gold and Sierra Leone-mined diamonds from mining company Pride Diamonds, which focuses on improving mining communities by paying higher daily wages to miners and various methods of community outreach.

Perlis, who plans for all of her jewelry to be completely green by this fall, is offering her nature-inspired 20-karat gold bangles, necklaces and earrings for $100 to $1,800.

"Paulette gets really involved in things," said Perlis, who added that because of high gold prices, using recycled gold was a cost saver, as well. "[ABC] is so proactive with this. They're a pretty impressive little company."

ABC plans to grow the in-store department to include young, local design-forward artisan jewelers.

Fred Leighton Joins Bergdorf Goodman

WWD reported on Thursday, April 05, 2007:

BERGDORF BLING: Vintage jewelry house Fred Leighton is making its debut at Bergdorf Goodman on May 1, marking the first time the precious baubles will be available at a retail location outside Leighton's own New York and Las Vegas stores. "It is a culmination of years of talking with each other on and off, first under previous ownership and then again about a year ago," said Fred Leighten owner Ralph Esmerian, who acquired the 36-year-old company last April. Esmerian said the brand would start on the first floor among the other fine jewelry pieces, but would have room to expand. "I want to start at a ground level and test ourselves. Fred Leighton has never officially been in a huge luxury environment outside of our own stores. This is a first....We'll be tailoring the look of our jewelry to a Bergdorf kind of clientele."