Jewelry Business Guru by Cindy Edelstein

Memo system cited as major factor in Henry Dunay filing for Chapter 11

“Memo is one of the main reasons I had to do this,” he said. “I don’t mind if somebody calls me and says I have a customer looking for something special. But when it sits in the store for a few months just to fill in the window, that is killer," said Henry Dunay in an exclusive interview with Rob Bates of JCK Magazine.

Read the whole interview here.

Also declaring Chapter 11 this week is David Webb, Madison Avenue jewelry house extraordinaire.

In case you haven't been keeping up in the designer financial news, Michael Beaudry and JPPS Inc., the parent company for Penny Preville, also filed Chapter 11 bankrupcy protection this month. Doris Panos filed at the end of April.

Henry is the first one to mention memo as part of the problem -- but I've got to wonder how big a part it played in the others', as well. One well known designer we talked with calls it the "cancer of our industry."

When will the industry openly discuss this?

We're going to run a webinar on this topic -- from the perspecitve of protecting yourself in this dicey realm. Email me at [email protected] for more info and stay tuned to our blog and twitter and facebook and enewsletters for specifics.

Scenes from Couture 2009

 

More Couture Coverage

 

Designers Show Off at Couture 2009 -- There is Light at the End of the Tunnel

 Sophia Chabbott of WWD did a great Couture show recap. See the article here and read the retailer reports and trends seen at the show.

Trends quoted in the article are:

"Pearls were also big news at the shows. Several credited First Lady Michelle Obama as the inspiration for classic two-row pearl necklaces, while others such as Slane and Slane used freshwater pearls rather creatively in torsades, and a even a bib necklace of gold and pearls. Tara showed white South Sea drop pendants with rose-cut diamonds.

And even as consumers focus more on special-occasion buying rather than indulgence, statement pieces remain in the mix. Yossi Harari’s Mexican fire opal suites included a necklace with the distinctive orange-hued opals with black diamond covered beads and high karat gold; Irene Neuwirth showed oversize bibs with turquoise, onyx and moonstone, Eclat Jewels Inc. conch pear and diamond briolette sautoir, De Grisogono’s aquamarine, turquoise and emerald collar, and Sevan’s formidable baroque pearl cocktail rings with diamond set upside down are priced well into the five figures.

Brands well-versed in the high end diversified their assortments to include more affordable and casual pieces. Sasha Primak, known for its weighty diamond eternity rings, launched a charm line with micro pavé diamond details. Primak’s lines typically start at $50,000 at retail, but the new collection starts at a modest $1,000.

Other trends included black or white diamonds set into blackened gold or oxidized silver showcased at Nam Cho, Arman, Andrea Fohrman and Coomi, and the continued push into men’s jewelry. Cuff links, bracelets, rings and necklaces for men were offered by David Yurman, Marco Bicego, Damiani and Shamballa Jewels.

Rose gold also remains an important component for brands. Temple St. Clair launched a line in the pink-hued metal, as did Monica Rich Kossan. Alternative diamond cuts included rose cuts and diamond slices at Nina Runsdorf, Andrea Forhman and Paul Morelli.

Silver collections are an avenue of growth for fine jewelers, many of which once considered the metal a less prestigious alternative to gold. Judith Ripka, Monica Rich Kossan and Stephen Webster’s silver lines have all been performing.

WWD editor's faves:

Yossi Harari's Fire Opal ring

and

Sevan's pearl ring

and

newcomer

Jemma Wynne's

pendants

 

Couture Design Awards 2009 - Great jewelry designs and designers celebrated

Couture Design Award winners really enjoyed their evening! So many great winning pieces -- and designers -- you can see them all at http://www.couturedesignawards.com/winners2009.shtml

Seen here are gold category winner Barbara Heinrich dancing with Atelier Zobel's owner Peter Schmid, who won for the pearl category (and was a finalist in the silver category, as well).

Also having a great evening was bridal category winner (and gold category finalist) Pamela Froman with this year's MC, uber-stylist Rachel Zoe.

And who would have expected a kickline to form with the ASPECTS designer group members and friends: Seen dancing were Jose Hess, Susan Sadler, Peter Schmid, Bernd Munsteiner, Tom Munsteiner, Petra Class and Couture newcomer awardee Elena Votsi.

 

2010 Saul Bell Design Award Competition Entry Form Available

In its tenth year, the Saul Bell Design Award competition continues to recognize artists whose work challenges traditional perceptions of jewelry design. They invite you to enter your most inspired creations in the 2010 Saul Bell Design Award competition.

All entries must be received by September 18, 2009. Get an application on their website at http://www.saulbellaward.com/callforentries.html.

 

The Ten Ways Twitter Will Permanently Change American Business

Great article that should entice you to join the twitter-generation:

"As Twitter grows it will increasingly become a place where companies build brands, do research, send information to customers, conduct e-commerce, and create communities for their users. Some industries, like local retail, could be transformed by Twitter."    read full article  [fixed link]


(shout out to blogger Carrie Soucy for leading me to this article!

WWD Q&A With David Lipman, Advertising Guru

I think there's a bunch of great ideas in this quick interview with David Lipman.

Read it all online -- here are my favorite quotes:

WWD: What role does technology play in marketing?
D.L.: You can’t market or communicate without it. But many people in the fashion world don’t understand how to embrace it and apply it to everyday life. High-tech mobile devices and the Internet are a part of our daily lives now. if you can’t communicate and market online yet, you’re missing out. Those little things that fit in our handbags or pockets are a new weapon, and that’s where I see the biggest opportunity.

WWD: Who are new players in the market?
D.L.: RueLaLa, a shopping Web site, has product that sells out at lightning-bolt speed. Firms like Amazon changed the way we shop for and wear apparel. Fifteen years ago, where was Google in our lives? Today, how many times a day do you say, “Go Google this, or Google that.” There is so much exciting new technology out there that is mind-boggling. By 2015, we’re going to be in a touch-screen world.

WWD: What consumer trends will develop?
D.L.: The next thing will be betterment of our lives — better air, better food, better water….Think about Whole Foods, the hybrid car, the battery-operated car, solar energy, organic this, organic that….People want healthier and better lives, to live longer, and that is going to be the next wave of consumerism, with clean tech and green tech.

How do you see these trends playing out in jewelry?  Leave me a comment.......

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By TwitterIcon.com

Luxury and Necessity: Redefining Values

Women's Wear Daily took a look at what consumers say is a necessity and what is luxury (a word that is continually evolving in this recession).

"The view of American consumers about what they require, compared with what they desire, is undergoing a fundamental shift," reports Dick Silverman (with whom I started my career! I was an intern at Footwear News while in college and Dick was their Managing Editor back then! Love that I'm still quoting this excellent journalist!) in a recent WWD article.

"The staying power of that change is a core issue facing retailers and manufacturers trying to see around the post-recession curve and measure the mind-set of the buying public ........ continue the rest of the article here.

Key points:
~ Fifty-seven percent of the respondents said they were shopping more at discounters

“Americans have an aspirational ‘keeping up with the Joneses’ culture. It may not be in vogue now, but I really doubt luxury is going to go away.”

Milton Pedraza, ceo of the Luxury Institute, agreed with Chen, citing members of a recent focus group who said they still seek unique design, quality, craftsmanship and service, and will pay for it “when their wallets are fat again.”