Twenty Ten is shaping up to be a significant year for Arnold’s Fine Jewelry, Pasadena, California, which is poised to celebrate its 150th anniversary as a company and its centennial in the state. In 1890, C. O. Arnold founded a small store in Ottumwa, Iowa, selling fine jewelry and musical instruments. Twenty years later, Arnold packed up his family and moved his operations to Pasadena’s Old Town area in the booming state of California. The store changed locations two more times and is now housed on South Lake Avenue in the Colonnade, a multiuse building that was at one time a large department store.
Catering to Women
Third-generation Bruce Arnold runs the store established by his grandfather, offering a mix of contemporary styles, status names and a consignment boutique of fine jewelry and watches. A great portion of his sales come from female self-purchasers who want moderately priced, fashionable styles they can wear to work. Average price points range from $325 to $350. The major customer base is composed of women ranging in age from their mid-20s to early-50s, often married with kids. There are always lots of strollers in the store, says Arnold.
One of the largest parts of the business is jewelry and watch repairs, including stone replacement, responsible for close to one-third of the retailer’s annual revenue. The repair department is overseen by two in-house bench jewelers and a watchmaker, the latter capable of cleaning and repairing the most delicate handmade Swiss timepieces. Arnold’s also offers complete appraisal service.
The balance of the retailer’s volume comes from stock items, special orders and consignment goods. Some designer brands are part of the mix, including diamond-and-gold collections from Simon G., fashion silver designs from Zina Sterling Silver and Elle and gifts from Empire and Lunt Silversmiths.
Of special note is Arnold’s consignment business, which has been a viable part of the store’s offerings for more than 30 years. These items include inherited, unworn or unwanted jewelry brought in by clients. It’s a great source of income because “it requires no investment,” says Arnold, who devotes a 16-foot linear showcase to consigned items.
All members of Arnold’s staff have been with him for 15 to 25 years and take a laid-back approach to selling jewelry. They do not push any particular styles, instead allowing the client to make up her own mind, says the owner. The items moving right now are mostly silver, not too much gold. Colored gemstones are strong, particularly briolettes in a range of colors, featured in necklaces and earrings. Because the customers want practical luxuries to wear to work, more extreme styles such as chandelier earrings have not been popular. Instead, these career women opt for a simple drop with a eurowire back.
Diamonds
Diamonds are not the driving force of the business, Arnold says, but the store’s always-busy repair department uses approximately $50,000 to $60,000 worth of melee per year in its work on jewelry and watches. The quality of the stones depends totally on the piece. Loose diamonds are not a major focus either, but when a customer requests a diamond of a certain shape, size or quality, Arnold has the contacts to supply the stone. He maintains a good relationship with a number of diamond suppliers because, he says, “I pay my bills.”
The company’s diamond engagement business has fallen off somewhat over recent years, says Arnold, most likely lost to internet suppliers such as Blue Nile and large regional jewelry chains. Although he regrets letting that part of the business go, Arnold is optimistic about the future. “We’ll be here another 50 years,” he says.
Poetry
Arnold, a certified gemologist and member of the American Gem Society (AGS), clearly loves continuing the legacy of a family business. But like his grandfather, who loved music, Arnold has his own creative passion: He is an accomplished poet. He says he began writing poetry after the death of his first wife and found that he had a talent for it and enjoyed the challenge. Through his poetry, he met his second wife, and he has presented his works at a number of poetry conventions. Tying together two of his loves, Arnold writes and posts a “Poem of the Week” in his store for employees and customers to read.
Continuing the founder’s legacy, Arnold’s Fine Jewelry offers annual music awards to outstanding graduates in each of three local high schools — John Muir, Blair and Pasadena — and the Pasadena City College. The winners, chosen by the faculties of each of the schools, are honored by the “C.O. Arnold Music Awards,” initiated by C.O. Arnold in the 1930s, the oldest privately funded music awards in the region.
Article from the Rapaport Magazine - April 2010. To subscribe click here.