With all the prestigious accolades and awards Hamilton Jewelers has received over the years, there is still one turning point that resonates with Hank Siegel, the company’s president and CEO. In 1957, a fire destroyed the original store; all the inventory, designs and archives went up in flames. “My grandfather [Irving Siegel] and father [Martin Siegel] were forced to move to a temporary location,” he recalls. “It was October, just before the start of the holiday selling season. They sent out a mailing: ‘We have found the only thing that we could take with us — our reputation.’”
Integrity, value and service have been woven into the fabric of Hamilton since it was founded in 1912. “Our focus is on the experience for our clients, on being an authority, and acting in adherence to our core values, which have stood the test of time,” says Siegel.
He believes constantly investing in stores is critical to earning people’s trust, though he admits it might be “a little antithetical in today’s retail world, with people investing so much in digital.” While Hamilton invests in digital as well, Siegel maintains that “the luxury client today still wants to come into a store and have an experience. You can only do that by constantly figuring out how to improve your processes, your product presentations, and the look and feel that clients experience when they come into
the store.”
Moreover, he elaborates, “in today’s market, it is not only the experience we provide for the clients, it’s also about constantly investing in our people” — whom Siegel considers an “extension of
our family.”
Life-long learning
A self-described “big believer in education and professional growth,” he acknowledges that part of that philosophy stems from a “self-serving” business perspective. “Luxury clients want to deal with someone who is knowledgeable, not someone who says, ‘I have to ask my manager.’”
Several years ago, Siegel — who holds both an MBA and a graduate gemologist (GG) degree — established the Hamilton Jewelers University program, a one-week educational workshop that takes place off-site. The program immerses team members in a curriculum ranging from company culture to technology.
During annual reviews, associates are asked how the company can help further their respective careers. Siegel says almost 80% of the employees have participated, at the company’s expense, in some form of professional growth initiative. In 2018, the company recorded 2,200 hours of training for its 105-person team across its three locations — in Princeton, New Jersey,
and in Palm Beach and Palm Beach Gardens, Florida.
Ethical expectations
An important tenet of Hamilton’s mission statement, acting “responsibly and ethically,” extends to its suppliers, who must abide by the Jewelers of America (JA) Code of Ethics and other industry standards. In 2012 — the company’s 100-year anniversary — Hamilton received certification from the Responsible Jewellery Council (RJC), becoming one of the first privately owned family retailers to achieve that distinction. “By going through the certification policy, we became aware of our strengths and areas where we could improve,” says Siegel. “We have always emphasized creating a safe work environment and responsible sourcing.”
The company also monitors its carbon footprint by using energy-efficient lighting and power, printing on recycled paper, and utilizing digital communication whenever possible, among other things, he relates. The store’s green policy evolved out of its affiliation with RJC, which has twice recertified the company.
Generation to generation
With his son Andrew joining the company, Siegel reflects that each generation builds on the knowledge passed down by previous ones and adds its own contribution. “For me, it was training and brand building. For my son, it is how we use technology to create a better experience for everyone involved in our business.”
Even with digitalization and changes in retail, the most important lesson Siegel learned from his father and grandfather is that “our industry is based on relationships — within the industry with each other, and with our client base,” he states.
“We are here to help people celebrate and commemorate,” he continues. “It’s the advantage we have in selling over other commodity-type products, and we should never lose sight of that. First and foremost, relationships will always be a differentiator. It is the reason Hamilton doesn’t have 15 or 20 stores today. We get offers [to add stores] all the time, but I don’t think we can continue to do what we do well if we dilute that experience.”
Image: Halmilton Jewelers -
hamiltonjewelers.com Article from the Rapaport Magazine - August 2019. To subscribe click here.