Bailey’s Fine Jewelry boosts Boys & Girls Clubs

The Boys & Girls of Nash/Edgecombe Counties (NC) received a donation from Bailey’s Fine Jewelry as a part of its Give Back Program.

“We believe giving our time, money and heart to worthy community programs is as important to our business as offering the area’s finest selection of jewelry,” said Clyde Bailey, owner of Bailey’s Fine Jewelry.

Battery watches were collected at Bailey’s with all money being donated to selected charities. This program is a special way the local business supports its community for supporting them. Each month, Bailey associates choose charities they are involved in within the community.

The Bailey’s contribution will aid in continuing the vital services in which Boys & Girls Clubs of Nash/Edgecombe Counties provides. For more than 40 years, the Boys & Girls Clubs of Nash/Edgecombe Counties has been at the forefront of youth development, working with young people from a variety of economic, social and family circumstances.

The Boys & Girls Clubs of Nash/Edgecombe Counties is dedicated to ensuring our community’s young people have greater access to quality programs and services that will enhance their lives and shape their futures. The local Club is an affiliate of the national organization, Boys & Girls Clubs of America and the North Carolina Alliance.

More at: http://tinyurl.com/nbooa7

Cash for Gold USA Named One of Inc. 500′s Fastest-Growing Company in U.S.

SHARON, Mass., Aug. 14 /ELEGANO/ — CashForGoldUSA.com has been added to this year’s Inc. 500 – the premier list of America’s fastest-growing privately owned companies.

CEO Norm Schneider says he is “thrilled to be part of this elite group. I think it’s a testament to the level of trust we have with our customers, who come back to do business with us again and again.” Cash For Gold USA’s parent company, CJ Environmental (whose name appears on the prestigious Inc. 500 list) has recently launched CashForSilverUSA.com and CashForDiamondsUSA.com. Schneider says all three sites now offer higher payouts than their competitors, as well as no-risk guarantees. Schneider explains, “If a customer is unhappy with our payout for any reason, we’ll return their material to them at our cost. But we find that people are pretty happy doing business with us.”

Since 2006, CJ Environmental has increased its revenue by 1,394.5% – well above the average of the Consumer Products & Services companies that made the “fastest growing” list. In total, Consumer Products & Services companies earned over $44 billion during 2008.

One of the ways that CJ Environmental has grown so rapidly in a recession environment is its reputation for customer satisfaction. Their cash-for-gold program offers free, insured shipping as well as a guarantee to beat any of their competitors’ prices by 10%. Mr. Schneider says he’s excited to offer that same level of service to customers who have “been searching everywhere for fair prices for their gold, silver, and diamond jewelry.” Their new site (CashForDiamonds.com) openly shares inside information on the various cuts of diamonds and how they are assayed to determine value using the well-established 4-Cs – Color, Cut, Clarity and Carat (size) as the guideline for establishing market value. Schneider explains, “One of the reasons our company (Cash for Gold USA) is so successful is our straightforwardness with our customers. We aim to educate our customers so they can make informed decisions about selling their Gold, Silver and Diamond jewelry to maximize their returns.”

Their other website (CashForSilverUSA.com) allows sellers to quickly cash in on their unwanted silver in a reliable, secure manner. Cash for Silver USA will purchase sterling silver flatware, serving pieces and jewelry for superior payouts.

About the future, Mr. Schneider says, “I hope that we will continue to grow, but more importantly, that we can help our customers get quick, fair payouts for their unwanted gold, silver and diamonds during these tough economic times.”

CJ Environmental is also responding to its success with an increase in philanthropy, donating one dollar for every sale made through one of their sites to the Susan G. Komen Breast Cancer Foundation.

Platinum the pick among younger customers

This platinum, diamond and 2.24-carat tanzanite pendant from Gumuchian retails for $6,000. Gumuchian.com.

Platinum jewelry isn’t something retail jewelers ring up like mad at the register.

Sixty-three percent of panelists said platinum jewelry accounts for a mere zero to 10 percent of their sales, and the vast majority of respondents–95 percent–report that the metal makes up 20 percent or less of their total sales.

But when asked how the market has changed in recent years, it appears panelists have hope for the future popularity of this precious metal, which carries profit margins of 40 percent or more for 69 percent of survey respondents.

Consumer awareness of platinum has increased in the past five to 10 years, according to a number of panelists. This seemed to ring especially true among younger consumers, according to several panelists.

“Young girls want engagement rings in platinum,” one panelist wrote, while another predicted, “More young couples prefer platinum than yellow gold, it looks [like the] future is good for platinum jewelry, especially wedding rings.”

After rising to nearly $2,300 an ounce in March 2008, according to Kitco.com, platinum prices hovered around $1,283 per ounce at press time. Panelists were mixed on the best strategy for handling the metal’s fluctuating price.

Several reported that they adjust the price of goods in the store to reflect the metal’s market price, with one stating, “I do a lot more special order on platinum so I can adjust the price accordingly.” Others are just avoiding the metal altogether. “It has been like a roller-coaster ride and has caused me to hold steady and not buy until it stabilizes,” one panelist wrote.

More at: http://tinyurl.com/m5w2fn

Local Luxury Dealer Combines Wedding Giveaway Contest With Philanthropic Outreach

A lucky couple who reaches out and makes the biggest difference by helping others will win a free luxury wedding courtesy of Roman Jewelers.

(ELEGANO) – Aug 12, 2009 – Roman Jewelers of Flemington and Bridgewater, NJ, is giving away a free luxury wedding to the couple who proves they can work together and make a difference in the community. On August 15th an audition will be held at Bridgewater Commons Mall to choose twenty couples who will compete in “The Roman Jewelers Wedding” contest.

Store owners Roman and Sophie Shor, are focused on being outstanding community members and reaching out to help others. “We have always tried to lend a hand to members of our community, whether it’s volunteering countless hours each month at the Hunterdon Medical Center or hosting charity events and giveaways at the store. It’s important to give back and help those who are less fortunate than we are,” says Mrs. Shor.

To celebrate their 20th Anniversary, and continue doing their part as good citizens, Roman Jewelers will give one lucky couple the luxury wedding they’ve always wanted. After being chosen at the audition, 20 couples will have to develop plans for a “good deed.” The ten couples whose plans are most impressive will be chosen as finalists, and then throughout September they will execute their philanthropic initiative.

After a month of putting their plans to action, a winning couple will be chosen. “There is no better way to celebrate love than by giving to others. That’s why we are looking for the couple who shows their love for each other is strong enough to band together and make an impact on a charity, in someone’s life, or even the environment,” says Mrs. Shor. The judges will also choose the winner according to which couple’s story was most compelling, whose qualities are exemplary, and whose love for each other appears strongest.

The winning couple will receive a free luxury wedding courtesy of Roman Jewelers and The Roman Jewelers Wedding Romantic Partners including: I Do Tattoo™, Jersey Street Furniture Rental, Mariage Couture, Salon Nu, Scott Kay, Tacori, Tag Heuer, The Petite Café, Vera Bradley, and Williams-Sonoma. The wedding will include all of the essentials; from rings and dresses, to the venue, flowers, music, food, beverages and more. The lucky winners will also receive numerous other gifts to help them start their lifelong relationship out on the right foot.

About Roman Jewelers: Roman Jewelers is a family owned and operated store with locations in Flemington and the Bridgewater Commons Shopping Mall in Bridgewater. Roman Jewelers specializes in custom jewelry design, fine jewelry including diamond and bridal jewelry, designer jewelry and jewelry repairs.   The Roman Jewelers Flemington location also offers a wide selection of fine Swiss watches. Additional information about Roman Jewelers is available at the company’s website, www.romanjewelers.com.

Positive experience outweighs price sensitivity

Despite the recession, research shows consumers do not mind paying a higher price for better customer service.

A Strativity Group study released on Aug. 4 found that more than 70 percent of respondents would be willing to spend an additional 10 percent or more if a company exceeded their expectations, with 33 percent willing to pay 25 percent or more.

Survey data represents the responses of 1,994 individuals in the U.S. and Canada from April 13, 2009 through May 4, 2009. Respondents were from a variety of demographics.

“The initial assumption that we had was that customer loyalty is dead, that the only loyalty is to price,” Strativity Chief Executive Officer Lior Arussy said in a statement. “But it’s not only about price sensitivity. The verdict from the consumers is very clear: If we see an exceptional customer experience, we’ll pay more for it, we’ll stay longer and we’re going to give you more business.”

Forty percent of loyal customers who experienced exceptional service were willing to pay 10 percent or more if it meant being able to continue business with a company. Satisfied loyal customers were also three times more likely to repeat their business for at least another 10 years.

Only 9 percent of dissatisfied loyal customers would pay more to continue business with a company, and those who had a negative experience were 10 times more likely to cease doing business with the company within 12 months. 52 percent said they’d only be willing to continue their business if a discount of 5 percent or more was offered.

In addition, the study found that the top drivers contributing to customer experience were centered on employee interaction. Resolving problems effectively, exhibiting common sense and instances where employees exceeded expectations topped the list.

“The one thing that was very clear was how the emotional attribute of the experience played an important role in determining whether one had received an exceptional experience,” said Arussy. “This is an area that a lot of companies do not know how to manage–they leave it in the touchy-feely domain. But we are now seeing it come out of the touchy-feely domain and be straight smack in the middle of what differentiates organizations and what allows them to command premium price.”

Source: http://tinyurl.com/l4nfxu

Local jeweler digitally perfects the art of custom jewelry design

Nelsen’s Fine Jewelry is leading the trend toward computerized custom design with Matrix 3-D Jewelry Design Software.This state-of-the-art system allows customers to see their design from every angle before it is even made.

Details can be seen on screen and in scale so customers get exactly what they are looking for. Designing jewelry used to be a tedious and imprecise process. Traditional methods include hand-sketching the item then hand-carving a wax model for the customer to approve.

If changes need to be made, the process starts over. With the addition of this advanced technology Nelsen’s Fine Jewelry can create the precise design that customers are looking for in less time.Once the design is approved, the file can be sent to a machine that accurately carves a prototype out of wax. This wax will then be transformed into a quality, custom designed piece of fine jewelry. 

Matrix 3-D was created by Gemvision Corp. in Davenport, Iowa, a company specializing in technology for the jewelry industry. Nelsen’s Fine Jewelry sent staff members directly to their headquarters for extensive training on Matrix 3-D. This technology and training will advance the creativity and precision of all jewelry designs created by Nelsen’s Fine Jewelry.

More at: http://www.canoncitydailyrecord.com/Business-story.asp?ID=11365

LVMH Earnings Drop as Slump Tarnishes Watches, Jewelry

LVMH Moët Hennessy Louis Vuitton SA, the world’s biggest luxury-goods group by revenue, posted a 23% drop in first-half profit as the global economic slump hit the company’s watch and jewelry division especially hard.

Paris-based LVMH, whose brands include the Louis Vuitton fashion house and champagne maker Moët & Chandon, said revenue edged up 0.2% to €7.8 billion ($11.1 billion) in the six months ended June 30, compared with the year-earlier period. Profit fell to €687 million from €891 million.

The Louis Vuitton brand, one of LVMH’s biggest revenue sources, held up well, driving sales at the fashion division up 8% to €2.98 billion, the company said. LVMH reiterated its goal of gaining market share over the year, and said it would pay an interim dividend of 35 European cents.

Yet the overall results underline how the world’s $240 billion luxury-goods industry, at first slow to feel the effects of the economic downturn, is now suffering as even the world’s highest-spending consumers cut back. On Friday, De Beers SA, the world’s top diamond producer, posted a 57% decline in first-half sales of rough diamonds.

LVMH’s results are a particularly important indicator of how the luxury-goods industry is faring—in large part because the company’s divisions span many aspects of the market, including handbags, cosmetics and champagne. The company was due to release its results on Wednesday, but unexpectedly announced them on Monday evening, saying its planned statement had been partially leaked to a news agency. Analysts said they were waiting for more details from the company during a Tuesday conference call.

In its statement, LVMH said first-half watch and jewelry sales fell 17% to €346 million. The company said independent retailers were reducing orders for watch brands such as TAG Heuer and Zenith as consumer demand drops.

More at: http://tinyurl.com/lw3ap2

Gold and Citrus Jewelry Line

24kt gold-plated and gold lined seed and bugle beads with 14kt gold-fill chain and classic Gold & Citrus tag. 46 1/2” long. ($820.00)

A sweet new jewelry line launched this month from San Francisco artists and designers Sara Rossbach and Richard Combs has dazzled us with its oh-so-San Francisco approach to contemporary luxury.

Dubbed Gold and Citrus, the collection of 11 necklaces and one gold-chained headpiece ($80-$820) features gold paired with unexpected materials such as wood grain sequins, silk-backed zippers and brown rooster feathers.

Though the resulting pieces have an effortless polish that makes them just as worthy counterparts for a slouchy cotton tank as they could be for a streamlined wedding dress, there’s nothing simple about divining the designs themselves.

“I would definitely say I spend many more hours brainstorming and sketching ideas than actually producing the pieces,” says Rossbach, the lead designer for the line.

That may very well not sound unusual, until you glimpse the intricate bead work and complex construction invested in such pieces as the scarf-life Kumquat and the pearl-laden Pummelo.

They say it’s the thought that counts, and that sentiment certainly rings true here. The brain power behind Gold and Citrus yields much more than mere beauty.

Wearers of the Kumquat and Clementine styles, for example, will find themselves in possession of a neck adornment designed to be worn up to four different ways.

More at: http://tinyurl.com/nv6fxz

Zale Closed 118 Stores In 4Q

Zale Corp. (ZLC), struggling with slumping sales, closed 118 weak-performing stores in the quarter ended July 31, resulting in a $50 million pretax charge.

The jeweler, which has accelerated store closings and negotiated lower rents because of weak earnings and sales, also said it reached agreements on certain retail locations that will reduce its rental obligation starting in fiscal 2010.

It also agreed to settle rent obligations to landlords at 34 Bailey, Banks & Biddle stores. Zale in 2007 sold the Bailey Banks chain to Finlay Fine Jewelry Corp., which filed for bankruptcy protection Wednesday. Zale said the fiscal fourth-quarter charges include $23 million in costs for the Bailey Banks settlement.

Zale expects a net cash flow benefit from the actions to total about $55 million. About $30 million was realized during fiscal 2009, with the balance coming in fiscal 2010.

Jewelry sales have tumbled in the past year because of the recession. To cope with the sales pressure, Zale, which has more than 1,931 stores, said early this year it would close 115 underperforming stores as leases matures this year and next. Zale has said that 10% to 15% of its stores are unprofitable.

In May, Zale’s fiscal third-quarter loss widened more than expected as sales tumbled amid a prior-year clearance effort. But Chief Executive Neal Goldberg said the company had achieved its goal of stabilizing the business and lifting margins from prior months, which were hurt by holiday promotions.

Zale’s stock rose two weeks ago on its naming of Richard A. Lennox as chief marketing officer. Last week, jewelry company shares rose on speculation that consumers could be willing to splurge on shiny discretionaries as they begin feeling just a little better about the economy.

More at: http://tinyurl.com/lac6rh

Price-friendly platinum might find new fans

Calderoni's "Eleonora" earrings in platinum with 1.78 carats of diamonds; suggested retail price is U$16,840. (877) 326-6900

In the fall of 2008, a drop in platinum prices cracked open the door of opportunity for jewelry sales, with the per-ounce price nearly as low as that of gold. Though consumer confidence remains weak, the bridal market, especially, pushes on, with brides still eager to tie the knot with rings that will keep their white tone and hold up to everyday wear and tear.

Design Trends: Platinum is still a mainstay for everything from simple solitaire engagement rings to one-of-a-kind couture masterpieces. Aside from metal-only wedding bands, most platinum designs feature at least a smattering of diamonds or gemstones, perhaps contributing to the often elevated price tags that accompany platinum jewelry. Many go-to designers for red-carpet jewelry also craft their uber-pricey creations in platinum, reinforcing the metal’s aspirational qualities and stately rank.

Price Points: Platinum prices have begun a slow and steady ascent since dipping below the $800 per-ounce mark in October of last year. Yet despite the upwardly inching price (about $1,262 at press time), platinum remains at a relatively affordable level, especially considering that platinum sold at about double the price in March of 2008, at $2,300 per ounce.

Marketing: Platinum Guild International (PGI-USA) has been active on the marketing front, sponsoring platinum design competitions at industry trade shows and hosting red-carpet jewelry previews, all in an effort to increase awareness of the metal. In addition, the worldwide marketing arm for platinum jewelry provides retailers and sales associates with a number of educational opportunities, including its first online training program, “Platinum First,” a 30-minute program (details at Platinum Learning.com). As for consumer outreach, PGI-USA recently launched a refreshed lifestyle advertising campaign that puts greater emphasis on reaching the consumer on an emotional level. The campaign will still use its well-known tag line, “Your love has just gone platinum,” in advertising and sponsorships, as well as for in-store and online promotions.

More at: http://tinyurl.com/n8galf