Prestige Promenade pearls and sweets
Issue link: http://www.epageflip.net/i/1200894
24 www.thejewelrybook.com On Gold Phillip Gavriel, vice president of marketing and design, Royal Chain "We are encouraged by great growth in our gold category. We had been con- cerned with the price of gold in the fourth quarter, but that hasn't deterred any business and is now stabilizing. "Men's jewelry as a category has been extremely strong for us. On the wom- en's side, we remain consistent in chain but are also selling a lot of fashion styles. Lightweight, price-point gold fashion items under $500 retail is always a good category for us. "We also have a new technology—it's a cross between electroforming and casting and creates lightweight, seamless, and solid pieces into which we can set diamonds. It creates a weight that is similar to hollow links, but with a solid construction, and has an interesting price point. We have a Miami Cuban link chain set with diamonds that we reimagined using this technology, and it has been a great seller." On Corporate Social Responsibility (CSR) Doug Hucker, CEO of the American Gem Trade Association "CSR is not exclusively about transparent supply chains. Yes, people want to feel good about the products they are purchasing, and retail jewelers will want to know where items are from, but CSR is maturing and evolving. "CSR is also about hiring practices, diversity in the workplace, contributions to charitable organizations, paying fair wages, and all the things that should be part of social responsibility and being a good citizen. Why? Customers—es- pecially a younger audience—will respond to it and appreciate proactive moves, and companies will have better retention in hiring because employees will feel better about working in your business. "Don't feel guilty about implementing CSR, because it will help your profi ts, and know that it will come to the fore more." On the Retail Experience Andrea Hansen, founder of LuxIntelligence branding and consulting "Retailers must continue to fi nd ways to sell outside the store. Connect with your customers and deliver items in a way that is nontraditional. "How can you be there for your client no matter where the client is? Best Buy and Starbucks allow you to order on an app and pick up in stores. At Bed Bath & Beyond you can have items shipped to certain locations and request deliv- ery with installation. There should be multiple shades of the ordering process, with experiences tailored to consumers, such as allowing video chats. I have a client who sells on www.fi rstdibs.com, and customers ask to Facetime to see pieces on someone before they buy. There has to be a more personal level of engagement." On Diamonds & Lab-Grown Diamonds Erik Jens, founder of www.LuxuryFintech.com, a financial advisory company in the jewelry and art sector "There is a market for recycling jewelry that is a bit undiscovered and largely still in the pawnshop circuit, while so much from previous generations is fi nd- ing a way back to market. It's in the billions of dollars, and lots of diamonds will need to be recut and resold." Chain necklace in 18k yellow gold with 1.19 cts. t.w. dia- monds, $4,700; Royal Chain, 212-382-3340, www.royalchain.com H O T T O P I C S 2 0 2 0 F E AT U R E A R T I C L E Pendant necklace in 14k yel- low gold with clear quartz over lapis and 0.23 ct. t.w. diamonds, $1,841; Doves, 516-504-1346, www.dovesjewelry.com Lola double ear cuff in 18k yellow gold with white enamel and 0.56 ct. t.w. diamonds, $2,650; Melissa Kaye, 917-573-0388, www.melissakayejewelry.com