RAPAPORT... Retailer Kathy Zaltas has two master’s degrees and neither has anything to do with retailing, diamonds or jewelry, but she found her métier as a gallery-jeweler.
Poised to enter her ninth season as owner and designer of her self-named Zaltas Gallery in Mamaroneck, New York, Kathy Zaltas says her goal is to offer innovative designer jewelry that is “wearable, but with a flair.” The upstairs shop, located in a brick building in the heart of New York’s Westchester County, is about 1,000 square feet in size. It features everything from high-fashion diamond jewelry and designer collections to less-expensive gifts and casual styles for everyday wear.
Diamonds, however, are a pivotal category for her, and Zaltas is adamant about cut and quality. “Diamonds contribute a lot to our overall business, at least 50 percent,” she says. “I make it a point to never go below G to H or SI1.” A great portion of her stock comes from Kwiat, which is starting to become recognized as a brand name to her clientele.
Zaltas offers a blend of fashion and bridal jewelry and does significant business in engagement rings. However, she does the merchandising and sales her way. “Buying a diamond is a process,” she explains. “I carry no diamond inventory on purpose, because I don’t want to push any diamond on a customer,” she says. “We have no interest in a quick buy or sale — and we haven’t had a return in nine years.”
Typically, when a couple comes in to buy an engagement ring, the initial meeting is spent zeroing in on their needs. “We ask what the woman wants and the size of their budget. Then, we decide what will look good on her hand. After we get the answers, I call in three or four stones and let them decide on the right one. We always tell them, ‘We’re here to make it work right.’”
After the diamond is selected, Zaltas will either create a custom design or have the stone set in one of the mountings in her inventory. Top bridal sources include handmade rings from Kirk Kara, Varna and Kwiat; other designer collections come from Peter Storm, Lauren K, Dominique Cohen, Yossi Harari and a number of smaller, upcoming brands, such as Zeira Jewelry.
A TRAIN RIDE FROM FIFTH AVENUEZaltas’ Westchester location is just a short train ride from Manhattan’s Fifth Avenue, and many of its designer collections are brands found in upscale emporiums such as Barney’s, Bergdorf Goodman, Saks Fifth Avenue and Neiman Marcus. Each collection is highlighted in its own case or display, giving the store a gallery-type look. “We are a boutique gallery,” Zaltas says. “We promote people’s work. We don’t offer run-of-the-mill jewelry.”
The retailer also relishes the opportunity to create custom designs, which include engagement as well as fashion rings, earrings and necklaces. She estimates about 20 percent of her sales come from custom work. Sometimes, customers bring in inherited pieces they don’t like and Zaltas and her staff remove the stones and design something entirely new. While she does not do the actual bench work herself and does not maintain an in-store staff of jewelers, Zaltas works with a network of high-caliber professionals for jewelry production and repairs. She credits them and other mentors for teaching her the business.
“I have a fabulous staff of trusting, caring people,” Zaltas says affectionately. “They will jump through hoops to please our customers; they treat them as friends.” This relationship is reflected in the clientele as well. “We have loyal customers who come in for everything because they know the jewelry is well-designed and of good quality. They don’t want way-out styles, but they don’t look for basics either. What they want are classics with a kick.”
While most of her clientele is from Westchester and thesurrounding region, Zaltas says she is sometimes pleasantly surprised to receive calls from other parts of the country. “Recently, a woman called from Washington State, who had seen something she liked on someone she met at a convention.”
Unlike some retailers who feel insulted when customers expect a certificate with their diamonds, Zaltas says she believes they should have one and she routinely gives either a Gemological Institute of America (GIA) or American Gem Society (AGS) certificate with any diamond of 1 carat or more. “I consider certificates extremely important because they provide credibility. It’s important for the customers to be assured they are getting what they paid for and that I am telling them the truth about their diamonds.”
The Personal TouchOver the years, some interesting stories have developed that illustrate the personal side of the business. Zaltas tells a story about a young man who came in a couple of years ago to purchase an engagement ring. “He was really careful about the ring he picked and we asked him how he intended to propose. He said he was taking horseback riding lessons so he would have the opportunity to wear a suit of armor.” On the big day, he charged up to the restaurant where his fiancée was sitting — and proposed in front of some obviously astounded diners. She accepted. In the years since, he has returned to Zaltas frequently to buy gifts for his wife, home and baby.
Another young man requested that his engagement ring be encased in a mini-treasure chest, which his fiancée would “discover” during a trip to Italy. Then there was the woman who planned to divorce her husband and came in to sell her engagement ring. A while after the ring was sold, the two reconciled. Back she came for another engagement ring that looked as close to the original as possible!
To celebrate her gallery’s ninth anniversary, Zaltas plans a gala party with a rock ‘n’ roll theme. The festivities will include four days of designer trunk shows capped with a book signing by Barry A. Farber, author of Rock ‘n’ Roll
Wisdom. Red Lotus Productions, a local event planner, is setting up a rock ‘n’ roll band to entertain the attendees and a portion of the sale proceeds will benefit local charities. To Zaltas, it’s a milestone — as well as another occasion to give her customers a hug.
Article from the Rapaport Magazine - October 2007. To subscribe click here.