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Press Release: Members of Leading Jewelers Guild, a prestigious member-owned jewelry organization of independent retailers, assembled at the newly reconfigured Island Hotel in Newport Beach, California for their 56th annual July meeting and show from July 12 to 16.
“A huge shift has taken place in advertising and how it reaches the customer,” said Leading Jewelers Guild's president, Michael Simmons of Simmons & Clark Jewelers of Detroit, Michigan. “Connecting with millennials involves a whole new set of skills and media. Our goal is to bring our members up to speed so they can compete effectively and profitably in an ever-changing marketplace. ” Jenny Caro of Jewelry by Design in Woodbridge, Virginia, said, “We realized we had a problem, so we did a nationwide search for the best coaches in social media, website metrics, search engine optimization and internet marketing.” The hands-on two-day seminar in digital strategy involved social media in the morning and website-related issues in the afternoon. Nearly all Leading Jewelers Guild members brought representatives to the seminar, which ran parallel with a traditional CEO-oriented program. “We were very careful to select presenters that would be relevant on a beginning-to-advanced level,” said Caro. Both trainers and presenters were available for individual consultations during the two-day vendor show and gave a CEO wrap-up on the final day. The highlight of the CEO sessions was the culmination of the first group-wide financial benchmarking study. Chris Coleman of Nelson Coleman Jewelers in Towson, Maryland, said, “Leading Jewelers Guild members are learning from each other all the time, but we wanted to take that spirit to another level by comparing financial numbers for different type, size, and volume stores while still maintaining complete confidentiality.”
A CPA expert in industry benchmarking was selected to compile members’ information and prepare the study. Members’ received a confidential analysis of their own numbers in the areas of productivity, profit, cash flow and financial strength as well as common-sized income statements, balance sheets, and detailed sales mix and margin analysis, plus a similar composite report on the entire group. The presenter highlighted how to use the information to improve company bottom lines. “We’re working towards making this an ongoing benefit of membership,” said Coleman. Other presentations included a re-launch of the group’s own brand: Love Story® Diamonds, several company introductions and sharing of promotional and special events ideas. Joshua Halpern of Albert's Jewelers in Shererville, Indiana, said, “The more we share our strengths, the better we can help one another develop as individual businesses and our group becomes stronger in the process.” Embedded in the five day meeting was a two‐day vendor show where 58 select vendors were invited to exhibit their lines and services. These included key Leading Jewelers Guild suppliers for the group’s upcoming fall catalog program, as well as a number of new vendors: AV Diamonds, Box Brokers, CJ Jewels, Endless Jewelry, Exclusif/Luxury Displays, Fana Jewelry, Gabriel & Co., House of Baguettes, Idor Diamonds, Imagine Designs, Paramount Gems, Royal Jewelry, Seiko, Select Jewelry and Varsha Diamonds.
James West, the executive director of Leading Jewelers Guild, said, “With great fanfare we’re reintroducing our Preferred Vendor designation. This clearly identifies our top-tier vendors, highlights their discount and stock balancing offers and removes exclusions and fine print.” Members, vendors, staff and their families relaxed together at the annual member and vendor party, held at Island Hotel’s Cabana Terrace. Included were Leading Jewelers Guild’s annual awards presentation. Isaac Gad of True Romance in New York City received the 2013 Vendor of the Year award for outstanding product selection and customer service. Nate Morgan of Morgan’s Jewelers in Salt Lake City, Utah received the 2013 Leader of the Year, for outstanding leadership in several terms as president, chairman of the board and a member of the operations committee.
Leading Jewelers Guild, is a strategic alliance of independent, family-owned jewelers that develops competitive advantages for its members; it is 100 percent member owned. Leading Jewelers Guild is an invaluable merchandising, marketing, catalog advertising and production resource dedicated to the overall business needs of their member companies. Leading Jewelers Guild is currently comprised of 40 member companies in the U.S. and one jeweler in Scotland, representing approximately 150 retail locations. For more information contact West at 310.216.9106.
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