Jewelry Business Guru by Cindy Edelstein

JewelryBizGuru Blog has moved to CindyEdelstein.com

Finally! I've got a new look, a new name and a new blog at www.CindyEdelstein.com. I'm so excited!

Expect a lot more content and please don't be shy to comment or ask questions on the new site. CindyEdelstein.com offers a lot more information on the rest of our projects and events, too. So much to share! I hope you join me there.

 

Designers continue pledge not to use coral

[source: NationalJeweler.com] New York--With a much-anticipated protection measure for red and pink coral failing to pass this week, nonprofit organization Sea Web and its "Too Precious to Wear" campaign continue to push forward, gathering designers and manufacturers from the jewelry industry to pledge their support for coral conservation.

In the weeks before the 15th Conference of Parties of the Convention on International Trade in Endangered Species (CITES)-where, on Sunday, 64 countries voted in favor of the measure, 59 countries voted against it and 10 abstained-Sea Web had gathered 11 new Too Precious to Wear signatories, adding them to a long list of designers, including Tiffany and Co. and Temple St. Clair, who had previously pledged their support.

"The jewelers joining the campaign today are helping to set the standard in responsible design among the fine jewelry industry by pledging to personally do their part to protect these natural resources by refusing to purchase or use real coral in their designs and by urging other designers to take a similar stance," the organization said in a release.

The most recent Too Precious to Wear signatories are Dana Lorenz of Fallon and Fenton, Eduardo Garza, Ileana Makri, Irene Neuwirth, Kara Ross, Kimberly McDonald, Melissa Joy Manning, Monique Pean, Nak Armstrong of Anthony Nak, Nicole Miller and Robin Renzi of Me and Ro.

"The efforts of these committed fine jewelry designers mean we are experiencing a sea-change in the fashion and design industry when it comes to coral use," Dawn Martin, president of SeaWeb said.

Additional supporters who had previously signed the pledge include Amy Smilovic of Tibi, Chantecaille, Simon Cardwell of Cheeky Monkey Jewelery, Hannah Garrison of AZU Jewelry and Wear your Music, Leber Jeweler, Lela Rose, Lilly Pulitzer, Lisa Mayock and Sophie Buhai of Vena Cava, Maria Cornejo, Maria Grachvogel, Michael Aram, Minnie Mortimer, Nicole Miller, Norma Kamali, Pottery Barn, Reem Acra, Temple St. Clair, Tiffany and Co., Toni Hacker and Ben Harnett of Hayden-Harnett and Yigal Azrouël.

In the wake of the CITES vote, signatory Tiffany and Co. released this statement: "Tiffany and Co. is appalled by the CITES decision not to list red and pink corals on Appendix II.  We will continue to support efforts to ensure this threatened species is properly protected."

via www.nationaljewelernetwork.com

For fans and hopefuls of Roseark jewelry store

Kathy Rose, owner of Roseark in Los Angeles, is a contestant on the new Launch My Line show on Bravo. I watched this weeks' show and had fun tweeting along with other fans during the show.

I'm sure cheering her on via Twitter will get you noticed! Just sayin'.

Neiman Enlists Designers in Cost-Cutting Plan

Burton Tansky, the 71-year-old rag-trade journeyman who has led Neiman Marcus Group for nearly a decade, is quietly refashioning the upscale department store chain for an age of belt-tightening and less conspicuous consumption, reports Wall Street Journal today.

Mr. Tansky, Neiman's chairman and CEO, is pressing suppliers to produce lower-priced versions of designer styles, a stark reversal for a chain long labeled "Needless Markup" by more frugal-minded shoppers.

The WSJ article continues: "Neiman "worked with a number of vendors and designers, both in America and Europe, to see if we couldn't create for our customers optional price points," Mr. Tansky said. "We moved as fast as we could for fall" in bringing in the lower-priced items, he added. "But we had a greater time to plan" for spring 2010, so "you'll see more."

The less costly replicas of high-end designer goods are critical to turning around the chain's declining sales and earnings. Neiman Marcus and its New York flagship Bergdorf Goodman store have been traditionally among the most successful of retailers in sales per square foot. But the retailer has struggled through 18 months of declining monthly comparable-store sales, and the company is saddled by $3 billion in debt.

Read the rest of the article here.
 

Interested in opening a jewelry gallery or other specialty retail store?

Here's a great new read!

Karen Lorene, owner of Facere Gallery in Seattle, has started a blog based on her 3 decades of retailing experience. She intends for her information to be useful to ANY business and I'm sure it will be very useful to retailers and artisans, alike.

She writes in her first entries on her "Building a Business: Try This!" blog:

Chapter One: Build on What You Know

I assume you have a business dream. I also assume you have a bit of business knowledge because you more than likely grew up having had a lemonade stand, a retail summer job, you waitressed, you babysat, you shopped. That's how much business experience I had. If I can do it, you can do it!

Here's the beginning of thirty-seven years of experience in retail. I urge you to TRY THIS!
Let's get specific.

Start a list of what you have, what you need, what you want.

click here to read the whole blog entry.

LVMH-owned eLuxury shuttering retail operations

Seen on nationaljeweler.com today:

Web site eLuxury, a destination for high-end designer closeout apparel, shoes and accessories that's owned by Moet Hennessy Louis Vuitton LVMH, has closed down its retail operations and plans to convert to an "editorial destination" for information on the luxury market.

According to a press release, eLuxury ceased retail operations on June 26 and is "now moving to the next step of its evolution, a process which will reposition it as a premier source of editorial content, information and inspiration for luxury customers around the world."

read full article here.

There are so many discount/sample sale sites -- and many are selling merchandise made just for them rather than purely overstock -- that it's a wonder how they all stay afloat.

Which ones are most successful/useful in your book?????? Comments welcome.

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.”

Recession Drains Fashion from Henri Bendel in NYC - Yay, More Room for Accessories!

Henri Bendel, is planning to stop selling clothes this summer and focus on accessories and beauty products as it struggles to lure shoppers during a prolonged recession, says a news report.

"But Bendel, a division of Limited Brands, is changing its business model," reports today's New York Times,  "from the department store that was founded in 1895 to a more mall-like chain selling Bendel-branded beauty and gift items, like an $18 box of tea in the company’s signature brown-and-white stripes."

Greenwich Jewelers is Having a Designer Jewelry Auction Online for NYC Sparkle Week

What a great way to gain some attention and help out a good cause -- or three of them as the case is with NYC jeweler Greenwich Jewelers. And they're auctioning jewels from some of our favorite designers: Melissa Joy Manning, Dana David, Jamie Joseph, Suzanne Kalan and Toby Pomeroy.

Bidding ends April 25th -- that's this Saturday so hurry!

They are having a silent auction instore and bids are welcome via email, too, to raise money for:
Dress For Success ( www.dressforsuccess.org )
Hope for Kai( www.hopeforkai.com )
Planned Parenthood ( www.plannedparenthood.org )

This event is in honor of "Sparkle Week" -- a week-long publicity campaign in NYC created by the National Jewelry Institute. New York City Mayor Michael R. Bloomberg issued the official proclamation on April 6 as a way to promote jewelry sales in time for Mother's Day and other spring gifting events. It's akin to Restaurant Week and Spa Week where businesses offer special promotions to entice customers and raise awareness.

TIP: It's a great idea for any industry, group or likeminded folks to band together for a bigger promotion than any one can create on their own. An auction here, a sale there, an exhibit over there and boom! you've got yourself a big join promotion. Can you do this in your area?

Where the High-end Customers are Shopping

The recession has chilled the spending of even high-end customers. Unity Marketing, a luxury consumer research firm based in Stevens, Pa., provided WWD with a look at the top, midtier and discount stores where consumers with annual incomes of $250,000 or more said they’ve been shopping. “The stigma attached with shopping down-market is gone,” said Pam Danziger, president of Unity Marketing.

Topping the list is Target (46% said they'd shopped there in the past year) followed by Costco, Macy's and then, finally, the old-luxury standard Nordstrom (31.9%). You can see the whole list on WWD.com.  Don't worry, Neiman Marcus and Saks made the list but so did J.C. Penny and Walmart!