A question was posed to the retailers around the country that which watch brands and price points are selling well?
From North East
- Debbie Honey, Steckel's Jewelry, Bangor, Pa, said, "We carry Pulsar and Seiko. This is a rural community, and our farmers love their stretch-band watches in the $89 to $100 range."
- Barbara Barbe, Brown's Jewelry and Gift Store, Thurmont, Md, says, "We sell Seiko, and they run from $150 to nearly $800, but we sell mostly up to $300."
From South East
- Layne Gautreau, Layne's Jewelry and Designs, Gonzales, La, said, "The lowermost price points sell best, and for us, that's Fossil. In our mid-range, we sell Belair private label and Cyma at the high end."
- Kissy Tuten, Cunningham Jewelers, Brunswick, Ga, said, "Seiko's higher-priced watches sell best for us; Seiko has a more expensive line now, with some pieces as high as $1,700."
From Midwest
- Bill O'Brien, Moyer Fine Jewelers, Carmel, Ind, said, "We're still doing well with TAG Heuer from $1,000 to $3,000, and Swiss Army from $495 to $795. It's slower at the upper end, but cult brands like Ernst Benz and Bell and Ross still have their adherents."
- Les Christen, Smith Jewelry, Huron, S.D. said, "For us, the cheaper, the better. They are in a throwaway mindset here. We do well with Black Hills Gold watches, and with Speidel, in the $30 to $50 range."
- Mike Donovan, Bentley Donovan Fine Jewelry, Scottsbluff, Neb said, "Our main line is Belair with our own logo on it, at $150 up to $800. Belair stands by their product, and we get triple key."
From South Central
- Terry Adams, Adams and Co., Hot Springs National Park, Ark said, "I only handle Bulova and pre-owned Rolex, and surprisingly enough, the Rolexes are doing better. People always have a price point in mind, but it varies from customer to customer."
- Shirley Chandler, Chandler Jewelers, Albuquerque, N.M. said, "Bulova and Caravelle do best, at about $300 and $100, respectively. Our customers appreciate Bulova's selection of styles."
From West
- Ken Jacobs, Wanna Buy A Watch?, Los Angeles said, "For both vintage and modern, our best brand is Rolex. Those customers are not collectors, but brand-conscious consumers, and they get good value, selection, constant turnover and a good buy on a guaranteed product."
- Bob Bonaci, Bonaci Fine Jewelers, Kent, Wash said, "The digital revolution is killing watches, although older people still buy them: Citizen and Belair, mostly under $500."
- Ted Blohm, Blohm's Jewelers, Elko, Nev, said, "We mainly carry Seiko, and our best prices are $150 to $200 for ladies, and $300 to $395 for men."
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Microsoft’s e-jewelry software to be used by Royal Chain inc
Almost every business is going online. This time it is the Royal Chain Inc. and Marsala Manufacturing are the latest jewelry manufacturers to join in partnership with software developer and Microsoft partner Business Computing Systems Inc. to implement the Microsoft Dynamics NAV e-Jewelry Software as their primary business-management solution.
Microsoft Dynamics NAV, Microsoft's e-Jewelry software is a complete enterprise resource planning (ERP) inventory, order/memo-processing, job-tracking and financial-management system designed for jewelry manufacturers, importers and wholesalers, according to a media release from NAV.
Business Computing Systems from Los Angeles will also be developing a specific quotation system for New York-based Royal Chain. They are currently using an old DOS system which will be phased out soon and 50-70 users implementation is expected to continue through 2010.
Marsala Manufacturing which is based in Ohio will be implementing a 30-50 user system which is also scheduled to be completed in early 2010.
Mike Joukhajian, President and Chief Executive Officer of Business Computing systems said that looking at the current state of the economy many companies are looking for ways to cut costs and improve productivity.
While commenting on the Royal Chain and Marsala Manufacturing partnerships Mike also said that he believes that the e-Jewelry software will help jewelry companies to automate manual processes, monitor inventory levels, improve cash flow and improve customer relationships by having fast access to accurate information.
Other jewelry companies which are already using Microsoft’s e-Jewelry software include Baguette World, Chad Allison Design, Coast Diamonds, GN Diamonds, S.A. Kitsinian, SIBB and Simon G., among others. If you want to know more about the software then you can visit Business Computing Inc.'s Web site, BCInc.net.
Two Jewelers recieve Small Business Admin award for 09
According to the sources, two jewelers recently were named as the best in small business in their respective areas. In a press release, it was mentioned that Susan Eisen from Texas jewelry won the Small Business Administration (SBA) 2009 Small Businessperson of the Year award for the El Paso district.
Susan Eisen is the owner of Susan Eisen Fine Jewelry in El Paso, Texas. She received this award in front of a crowd of small business owners and other community leaders last month at the Wyndham Hotel.
Susan Eisen Fine Jewelry and Watches was chosen by the SBA committee due to its financial success and its contribution on the whole to the jewelry industry and small businesses.
Susan Eisen who is a resident of El Paso started her first jewelry store in 1980 and now owns a store on North Mesa Road, where she does custom jewelry designing, repairs and appraising of jewelry and fine art. She is also a certified member of International Society of Appraisers and a senior member and master of gemologist appraiser of the American Society of Appraisers. This prestigious title is held by only 42 people in the country.
Eisen, who is a graduate gemologist wrote a book in 2008 on jewelry and added a special gallery in her store which features El Paso artists and handmade crafts.
Besides, the Charlottesville (Va.) Regional Chamber of Commerce selected Tuel Jewelers as the recipient of the 2009 Chamber Small Businesspersons Award, according to local news reports.
Watchmaker and jeweler Roy P. Tuel first owned a watch repair shop in 1945, Tuel Jewelers later expanded over the years and it became a full-service jewelry store. The store is now owned by the Loose family. The award was received by Mary Loose DeViney, her sister Frieda Loose-Wagner and mother and storeowner, Frances Loose.
Christie Brinkley Jewelry Collection made its debut June 19
Christie Brinkley, the famous Cover girl and an entrepreneur has teamed up with the multichannel retailer Ross-Simons to launch a new jewelry line. She made her debut with the Christie Brinkley Jewelry Collection in more than five million catalogs, 14 retail stores and online on June 19.
Brinkley said in a media release that she hoped to produce a line of jewelry that celebrates her creativity, joy and optimism, and the theme of "CeleBrate" is emphasized throughout. The jewelry line mainly comprises of 100 pieces that are intended to be mixed and matched with earrings, rings, necklaces and bracelets that can be worn either casually or as evening wear.
There is wide range of designs in the collection, right from floral themes to southwestern style turquoise to gold peace signs accented with diamonds. To add a personal touch to her designs Brinkley’s initials are subtly incorporated in selected pieces, with "CB" disguised in the form of scrolls that twist around cuff bracelets, necklaces and earrings.
"I'm excited to bring my ideas and personality to the line. The collection is appealing to the everyday woman--affordable and stylish. My collection is bright and happy--a celebration of creativity and life," Brinkley said in the release.
In a media release Ross-Simons President and Chief Executive Officer Darrell Ross said that the company is delighted to be Brinkley’s exclusive partner for the line and believes that it will exceed all expectations. Apart from this he also said, "Now more than ever, women are adopting a smart, fashion-forward wardrobe, mixing and matching styles and making it all work," Ross said. "Christie is amazing. Her design aesthetic and her artist's eye are fabulous. The jewelry is beautiful, fun and wearable. Best of all, it's affordable. Christie has brought to life jewelry that women will want to wear every day and share with friends."
The price ranges from $40 for an Italian sterling silver snake chain to $1,275 for a heart necklace with diamonds totaling one carat. The designer jewelry will be showcased at Ross-Simons stores, in select catalogs and online.
Brinkley studies and worked in Paris as an illustrator, then she moved on to become one among the America’s most successful models and also a dedicated supporter of organizations and causes that focus on the well-being of children and the world they live in. over the years she has proved and improved her artist talent with designing clothing patterns, prescription glasses and sunglasses and now jewelry.
Fabrikant case ends, $8 million settlement proposed
A lawsuit which was filed against the former owners of bankrupt diamond company M. Fabrikant and Sons was approved by the federal judge and proposed settlement. With the hearing the year-long battle over the family’s assets came to an end.
According to documents filed in U.S. Bankruptcy Court for the Southern District of New York, Chief U.S. Bankruptcy Judge Stuart M. Bernstein approved the proposed settlement on June 16.
In the settlement it dictates that Matthew, Theresa, Charles, Marjorie and Susan Fortgang and a long list of affiliate defendants make a cash payment of $8.05 million to lenders and creditors, known as the "shared assets trust" (SAT). it also states that the SAT will receive any and all amounts remaining in the Fortgangs' $5.5 million insurance policy, net of the $1 million the insurance company is contributing to the $8.05 million settlement.
Besides, any defendants with a claim against the General Unsecured Creditors (GUC) Trust and/or De Beers in the antitrust case will assign those claims to the SAT. it is also mentioned in the settlement that the SAT is entitled to 40 percent of recoveries obtained by the GUC Trust, but it is not permitted to share in any other distributions by the GUC Trust, including the $5 million the SAT will be distributing to the GUC Trust.
$201.5 million originally sought by the SAT, when it filed a suit in June 2008, claiming that the Fortgangs diverted funds before filing for Chapter 11 bankruptcy protection for M. Fabrikant and Sons, potentially cheating them out of millions. SAT received $8 million settlement pales in comparison to the amount received in 2008.
The case took a dramatic turn when Fabrikant started last summer and the judge authorized U.S. marshals to enter the Fortgang’s residences on Park and Fifth avenues in Manhattan by force if they need to seize their assets.
After the start took place, the attorneys for the Fortgangs immediately battled back and the plaintiffs in the case eventually withdrew their request for the seizure of assets. At the end of the case, the court documents show, the SAT decided that this settlement was the best option. They went through all the aggressive legal defenses which were built up by the Fortgangs and the fact that the family’s assets resulted as worth less than what they originally believed it to be.
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