The independent voice for the industry since 1879
JCK ISSUE 2018
Canadian Jeweller Magazine RETAILER PROFILE:
ROSET BY REID Celebrating 40 years of exceeding expectations MEDICINE HAT, AB
ANNIVERSARY PROFILE:
VANTYGHEM DIAMONDS Turning 45 in 2018
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DESIGNER PROFILE:
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נס״ ד
JCK ISSUE voice for the since 1879 JCK ISSUE2018 2017TheTheindependent independent voice forindustry the industry since 1879
Canadian Jeweller Magazine E S T AESTABLISHED B L I S H E D 1 1879 879
138 // No. No. 02 02 Vol. 139
Editorial Board Editorial Board Jean-Christophe Bédos Jean-Christophe Bedos Birks, President & CEO Birks, President & CEO Haigo Derian L’Oro Jewellery Jay Cameron PierreDeVuono Laurent Timepieces Gino Specialty Watch Resource Haigo Derian Joe Gonçalves L’Oro Jewellery Time Central Gino DeVuono Andrea Hopson Luxury Retail Executive Specialty Watch Resource Paul Mcfarlane Joe Goncalves Chanel Canada Time Central Marco Miserendino Bijouterie Italienne P.M. Inc. Marco Miserendino Bijouterie Italienne P.M. Inc. Phyllis Richard Jewellers Vigilance Canada Inc. Phyllis Richard Beth Saunders Jewellers Vigilance Canada Inc. Canadian Jewellery Group RichardTitizian Rooney Sevan G.C. International Bogart’s JewelleryLtd. Steve Turac Beth Saunders Turac Luxury Group Inc. Canadian Jewellery Group Moniruz Zaman The Bullion Steve Turac Mart Inc. Turac Luxury Group Inc.
OLI V IER FELICIO OLIVIER C A Y L A RFELICIO AMEY
Publisher / olivier@canadianjeweller.com Managingand Editor / cayla@thergmgroup.net Founder Thoughtsmith / olivier@canadianjeweller.com
COR R INA MO SCA ROB SHAW
Editorial Manager Assistant/ /rob@thergmgroup.net.com corrina@thergmgroup.net Content
SCO T T JO R DA N SCOTT JORDAN
Art Director / scott@rivegauchemedia.com Visual Architect / scott@rivegauchemedia.com GraphicSeer Designer / daniella@thergmgroup.net Colour / daniella@thergmgroup.net
D A NDANIELLA I E L L A V IVIZZARI ZZARI KARL DELGADILLO CONTRIBUTORS CONTRIBUTORS
Web Guru Christine Dwane, Breanne Forbes, Larry Johnson, John Lamont, Shawna Lee, Joelle Litt, MarkMoshe Lutley,Lerner, Duncan Parker, Karen Simmons Christophe Caïs, Sally Furrer, Anne Neumann, Tyson Roset
SALES OLI V IER FELICIO SALES OLIVIER FELICIO EDITE M A RTINS
Advertising Sales tel: 416-203-7900 x6107 / email: olivier@canadianjeweller.com Advertising Sales tel: 416.203.7900 Advertising Sales x 6107 / email: olivier@canadianjeweller.com tel: 416-203-7900 x6112 / email: edite@thergmgroup.net
EDITE MARTINS HEAD OFFICE
Advertising Sales 920416.203.7900 Yonge Street, x6112 Suite 610, Toronto, Ontario M4W 3C7 tel: / email: edite@thergrmgroup.net tel: 416-203-7900 fax: 416-703-6392
SALES MELANIE SETH LUC Y HOLDEN LUCY MONTR E A L HOLDEN OFFICE MONTREAL OFFICE
920 Yonge Street, Suite 610, Toronto, Ontario M4W 3C7 Controller & Operations / melanie@rivegauchemedia.com tel: 416.203.7900 fax: 416.709.6392 General Customer Care Manager / lucy@thergmgroup.net General Customer Care Manager / lucy@thergmgroup.net tel: 514-381-5196 tel: 514.381.5196
Moniruz Zaman The Bullion Mart Inc. SUBSCRIPTIONRATES RATES SUBSCRIPTION
Canada — year, one year, years, $85; three years $120.United UnitedStates States — — one year, one year US$205 Canada — one $50;$50; two two years, $85; three years $120. year,US$205. US$205.Foreign Foreign—— one year US$205 (Subscriptions include Buyers’ Guide issues.)plus plusapplicable applicable taxes. taxes. Single Single copies Guide $40. (Subscriptions include Buyers’ Guide issues.) copies— —$25; $25;Buyers’ Buyers’ Guide $40. (Canada only, moresubscriptions) subscriptions) — — $17.50 $17.50 per per year. BulkBulk rate rate (Canada only, for for sixsix or or more persubscription subscription per year.
CHANGE CHANGEOF OFADDRESS ADDRESS
email: circulation@canadianjeweller.com fax: 416-703-6392 416-703-6392 email: circulation@canadianjeweller.comtelephone: telephone: 416-203-7900 416-203-7900 fax: or send your cover labellabel andand newnew address to to Canadian St., Suite Suite610, 610,Toronto, Toronto, ON. M4W or send your cover address CanadianJeweller Jeweller920 920 Yonge Yonge St., ON. M4W 3C73C7
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Canada Post Canadian Publications Mail Sales Product Agreement No. 40678000. The publisher does not assume responsibility for the contents of any advertisement; any and all representaCanada Post Canadian Publications Mail Sales Product Agreement No. 40678000. The publisher does not assume responsibility for the contents of any advertisement; any and all tions or warranties made in such advertising are those of the advertiser and not of the publisher. The publisher is not liable to any advertiser for any misprints in advertising not the fault of the representations or warranties made in such advertising are those of the advertiser and not of the publisher. The publisher is not liable to any advertiser for any misprints in adverpublisher such the limit publisher’s notpublisher’s exceed theliability amount of the advertising.charge No portion of this publication be reproduced, tising not and the in fault of an the event publisher and of in the such an event liability the limitshall of the shall notpublisher’s exceed thecharge amountforofsuch the publisher’s for such advertising. Nomay portion of this publiincation all or in part, the express permission the express publisher. Canadian Jeweller is pleased to review unsolicited submissions under the following may be without reproduced, in all written or in part, withoutofthe written permission of magazine the publisher. Canadian Jeweller magazine is pleasedfortoeditorial review consideration unsolicited submissions for editoconditions: all material for editorial consideration written text(photographs, in electronic or hard copywritten format)text mayinbeelectronic used by or Canadian Jeweller andmay its af rial consideration undersubmitted the following conditions: all material(photographs, submitted forillustrations, editorial consideration illustrations, hard copy format) beliates usedfor by editorial anyitsmedia (whether printed,purposes electronic, internet, etc.) without consent internet, of, or thedisc, payment compensation to, the party material. Please direct Canadianpurposes Jeweller inand affiliates for editorial in any mediadisc, (whether printed, the electronic, etc.) of without the consent of, or the providing payment such of compensation to, the party providing such submissions material. Please direct submissions the Editor, Canadian Jeweller. Return to Rive Media, St.,ON Ste.Canada 610, Toronto, ON Canada M5R 3K4. to the Editor, CanadiantoJeweller. Return undeliverable items toundeliverable Rive Gaucheitems Media, 920 Gauche Yonge St., Ste. 920 610,Yonge Toronto, M5R 3K4.
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CANADIANJEWELLER.COM JCK ISSUE 2018 CANADIANJEWELLER.COM JCK ISSUE 2017
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Departments
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Contents
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14 EDITOR’S LETTER Digital Days are here to Stay 16 CONTRIBUTORS The people behind the scenes 18 PRODUCT SHOWCASE Products from the hottest brands
52 TECH SHOWCASE Tech products on display
36 RETAILER PROFILE: ROSET BY REID Celebrating 40 years of Excedding Expectations
64 MARKETPLACE Classifieds
by Rob Shaw
72 STYLE COUNCIL Golden Dreams and Bold & Brash Swiss made quartz chronograph by Pierre Laurent. Accurate to 1/10th of a second, with oversized date and fly-back day indicator. Sapphire crystal on a 46mm case with screw down crown and back. WR 100m. Available in genuine leather with double deployment buckle, or metal bracelet. Retail $1095.00
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74 LAST WORD When Two Souls Meet
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Show Silver... Sell Gold! How would your business look today, if our smallest floor display had been cultivating over 400 new and repeat customers annually? • Rembrandt’s charm displays generate $4,500 - $7,500 in sales per square foot! • Complete selection of inventory-controlled displays available. Re-order only what you sell! • Our vertical displays contain the best-selling charms by region, leading to impulse Sterling Silver sales and Karat Gold special orders. • Our charm collectors are repeat customers!
What Retailers Are Saying “Our customers love the Rembrandt Charms display. They go crazy over the vast selection of charms. Customers come in for one specific charm for someone and leave with two or three more for other gifts. Thank you Rembrandt Charms! I couldn’t have asked for a better company to work with!” - Letty Haase, Owner Miller Clock Service & Sales
Contact Us Today! Orders@RembrandtCharms.ca p.800-387-5238 • f.416-293-1227
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Lifetime Warranty
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44 Features & Columns
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40 22 SHOW PREVIEW: JCK SHINING BRIGHT The annual event lights up the strip 28 FEATURE: LUXURY BRANDS AND ADVERTISING BUDGETS A Redirect Needs to Happen by Christophe Caïs
30 CAMERA READY: TIME AFTER TIME, WRAPPED UP, BALL & CHAIN Get inspired by these creative jewellery images
54 INDUSTRY FOCUS Changing Times by Tyson Roset
40 ANNIVERSARY PROFILE: RICH PAST, THRIVING PRESENT, BRIGHT FUTURE Vantyghem Diamonds celebrates its 45th anniversary
56 GEM COLUMN Valuing the Invaluable
44 DESIGNER PROFILE: SAURO Preserving the Vision
58 ON DISPLAY Using Signage in your Cases
by Rob Shaw
by Sally Furrer
48 TECH PROFILE: ADVANCED RETAIL MANAGEMENT SYSTEMS (ARMS) A Technology Leader
60 JVC COLUMN Be aware & be ready
by Rob Shaw
by Jewelers Vigilance Canada
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by Anne Neumann
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Digital Days are here to Stay Olivier Felicio, Editor-in-Chief
Editor’s Letter
I AM SURE YOU DON’T NEED ME to repeat that browsing the shopping mall is not done in front of the store window anymore but is now online and on social media. In 2016, 88% of all buying decisions were made online before entering a store. (Source: Google ZMOT Study, 2016) This is great news for you as it means people, despite what we hear, are still going into stores. However, you may have lost the upper hand in driving them to come to your particular store if you are not very efficient in your digital marketing. For this reason, through the amazing network we’ve built, and the 140 years of expertise in our industry, Canadian Jeweller magazine has created digital products and services that not only allow you to build them into your advertising and marketing plan, but we’ve also designed our programs to help you be a pro at digital marketing. Over the last 10 years, partnered with the best tech companies in the business, we have built a proprietary analytics database from multiple channels and devices, capturing millions of datarich consumer behavior profiles. Our unique methods include programmatic targeting that allows the right consumers to be reached at a precise location with a specific behavior at the right time, and who are shopping for watches and jewellery. Our goal in our digital marketing programs is to bring the right consumers to your store and give you the best ROI. Please feel free to contact me for more details.
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Best Bargains
Contributors
Visit us in Las Vegas at the JCK/AGTA SHOW, BOOTH # 639 MAY 31 - JUNE 4, 2018 at the Mandalay Bay.
Sally Furrer
Sally’s extensive experience in retail jewelry began working in the family business in Montreal, Canada. During a 22 year career with Robbins Bros. in southern California she held the position of Vice President of Merchandising which included supervising the displays and visual presentation. Sally has a firm belief that product strategies and visual presentation must be aligned to be effective. www.sallyfurrerconsulting.com
YOUR COMPLETE GEMSTONE SOLUTION Birthstone sets in any size and style.
Moshe Lerner
Moshe Lerner is a commercial photographer, specializing in jewellery and product photography with a unique detail oriented style. Running a client-friendly business he believes that with modern photography anything is possible. Based in Montreal, Quebec. See www.impressionjewelry.ca for his portfolio and more info.
Tyson Roset
We now sell gemstone product displays with 10/14kt Gold Earrings Starting from
Tyson Roset was raised in retail jewellery and sold his first engagement ring at age 16. Tyson started the wholesale business in Montreal in 2006 with a niche inventory of ideal-cut Canadian Diamonds. With a focus on customer service, Roset Diamond continues expansion in services for Diamonds, Gemstones, Design & Education. To Tyson, “Romance is our business and we love what we do.”
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Do you use social media for your business? Do you want to know how? Get your FREE USB key loaded with more than 1000 images of our best selling products and important articles on how to use social media.
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1.800.661.4871
T: 416.214.2582
F: 416.214.4626
21 Dundas Square, Suite 306, Toronto, ON. M5B 1B7 Canada
STAY UP TO DATE WITH ALL THE LATEST NEWS, TRENDS AND EVENTS
Please Visit us at the following Shows 2018
SHOW
1. Las Vegas 2. Toronto 3.Toronto 4. Edmonton 5.Montreal
DATE
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SUBSCRIBE TO OUR NEWSLETTER WWW.CANADIANJEWELLER.COM
BOOTH VENUE
May 31- Jun 04/18 Aug 12-14/18 Aug 12-14/18 Aug 18-20/18 Aug 26-28/18
639 TBA 2701 TBA TBA
Mandalay Bay Convention Center The International Center, 6900 Airport Rd. Mode Show, Delta Hotels, Dixon Rd. Shaw Conference Centre Montreal Convention Centre
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SPRING 2018
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Product Showcase
GIA
Put your store on the map and be sure customers find your business by registering on GIA’s Retailer Lookup. Through a city or postal code search, the Lookup allows customers to find local establishments that offer GIA-graded stones or have GIA-trained staff. Sign up today through the Retailer Support Program website at retailer. GIA.edu.
Maple Leaf Diamonds
Our exclusive Maple Leaf Diamonds™ Collection features an array of new patented designs, set with fancy shape Canadian Diamonds and Canadian Certified Gold™. Please visit us at the JCK Las Vegas show booth B58005 and Luxury LUX303. Follow us on Facebook, Instagram and Twitter. www.mapleleafdiamonds.com.
Buddha to Buddha The unconventional Buddha to Buddha Katja Mix Black bracelet is a beautiful braided 925 Sterling Silver and leather masterpiece. Timeless, like all Buddha to Buddha creations, this unisex bracelet is one-of-a-kind and handmade for you in 3 different lengths. Ready to be stacked with your other Buddha to Buddha bracelets. Georges & Boris, (514) 212 4264 www.buddhatobuddha-canada.ca
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©2018 Gemological Institute of America, Inc.
Not all gems come from under the ground. The Gemological Institute of America supports communities where gems are mined, working with the Nelson Mandela Centre of Memory to build libraries in Africa and helping artisanal miners understand the quality of their discoveries with our Gem Guide. These initiatives help make it possible for regional populations to take a more active role in the industry and ultimately help their community look forward to a brighter future. Our contributions are one of the many reasons why GIA is the world’s foremost authority on diamonds, colored stones and pearls. The World’s Foremost Authority in Gemology
TM
Learn more about the many facets of GIA at GIA.edu
BENEFICIATION
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EDUCATION
Ensuring the Public Trust Through Nonprofit Service Since 1931
INSTRUMENTS
LABORATORY
RESEARCH
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JCK Preview
Shining Bright Annual event lights up the strip ONE CAN’T HELP BUT ANTICIPATE SPRING 2018 considering the wallop from winter most of us just endured. Fortunately, spring also means it is time for JCK Las Vegas. The warm weather and bright Nevada sun are complemented by the industry’s leading annual trade show, a must-attend event to meet wellknown industry experts and influencers, and to learn what’s new. JCK Las Vegas 2018 will run from June 1–4 at the Mandalay Bay Resort & Casino once again, where nearly 3000 retailers are expected to attend. The show brings together over 30,000 professionals from around the globe amid a veritable treasure trove of impressive jewelry offerings at the exhibition, while the jewelry community shares networking and education opportunities. As usual, there will be an remarkable lineup of sessions at “JCK Talks”, awards events, and plenty of celebrating at breakfast and dinner. If you’re planning on attending this year’s show, here is a quick rundown of highlights.
Corona we will be attending the JCK and Luxury Show in Vegas, bringing with us a selection of exquisite new designs from both our regular and Maple Leaf Diamonds™ Collection, as well as one of a kind pieces from our Hidden Treasure™ line. The Canadian Yellow Diamonds and their exclusive patented One-Fifty™ Cut diamond, which can be set in any round brilliant cut style. With almost three times as many facets as a traditional round ideal cut diamond, the One-Fifty™ Cut takes a highly skilled diamantaire three times longer to polish. This exacting process creates more brilliance, more contrast, more scintillation, and more fire in every One-Fifty™ Cut diamond.
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JCK 2018
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YOU’RE INVITED
MAY 28 -29 TH
TH
9:00 am to 5:00 pm
MEET INDUSTRY LEADERS WATCH LIVE DEMONSTRATIONS TRY THE NEWEST TOOLS
DEMONSTRATIONS
LASER DEALS
LIVE PLATING WORKSHOP
Vallorbe’s full range of products on
Witness the laser welders and
Plating workshop and tips from Legor’s
display - including micro-setting systems,
engravers live in action & save big
technical expert Joe
burs, gravers, files, flexshafts and more!
with special show prices and rates
WIN A FREE ULTRASONIC
NEW PRODUCT LAUNCH
Join the event for your chance to win 1 of 6
Swarovski will be unveiling this year’s
The official Canadian debut and live
Elma prizes including ultrasonics
newest gemstone colours and shapes
demonstration of Murua’s revolutionary
and digital ring sizers!
on location at the Test Drive Event
grinding & polishing system
OFFICIAL CANADIAN DEBUT
SPECIAL 2 DAY EVENT DEALS GEMSTONES, FINDINGS, EQUIPMENT, AND TOOLS
EVENT WILL BE HELD AT: European Design 21 Dundas Square, Suite 510. Toronto ON, M5B 1B7 (416)-363-9078 / INFO@EUROPEANDESIGN.CA
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JCK Preview
What to Expect •
• • •
2,300+ international exhibitors, showcasing finished jewellery, watches, loose stones, equipment, supplies, technology, and security and business solutions 23,000+ attending retailers 9,400+ retail stores, including independents, majors, department stores, boutiques, and galleries 24+ neighbourhoods organized by product category, including bridal, costume jewellery, timepieces, custom work, diamonds, equipment, and much more.
What to Do Retailers can take advantage of numerous educational and charitable events, the exhibits, merchandising & display, and panel discussions. Here are just a few of the hottest events: Thursday, May 31 5:30AM–7:00AM: Jewelers for Children – Rings of Strength 9:30AM–6:00PM: LUXURY Exhibits/AGTA GemFair™ Open 10:00AM–6:00PM: JCK Talks – Discover Solutions for your Store at JCK Talks 6:30PM–8:30PM: Diamond Empowerment Fund Diamonds Do Good Gala Friday, June 1 7:45AM–9:30AM: Jewelers' Choice Awards Breakfast 9:30AM–6:00PM: JCK Exhibits/LUXURY Exhibits/AGTA GemFair™/Estate Jewelry & Watch Open 10:00AM–6:00PM: JCK Talks – Afternoon with the Associations Saturday, June 2 7:15AM–9:15 AM: Plumb Club Breakfast 9:30AM–6:00PM: JCK Exhibits/LUXURY Exhibits/AGTA GemFair™/Estate Jewelry & Watch Open 10:00AM–6:00PM: JCK Talks – The Showcase Stage 6:30PM–11:00PM: Plumb Club Gala Sunday, June 3 9:30AM–6:00PM: JCK Exhibits/LUXURY Exhibits/AGTA GemFair™/Estate Jewelry & Watch Open 10:00AM–6:00PM: JCK Talks – The Showcase Stage 6:00PM–10:00PM: Jewelers for Children Facets of Hope Dinner 8:00PM–11:00PM: JCK Rocks The Bowl Monday, June 4 9:30AM–6:00PM: JCK Exhibits/LUXURY Exhibits/AGTA GemFair™/Estate Jewelry & Watch Open
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JCK Preview LAB GROWN DIAMOND
PASSPORT FIRST LOOK
THE BRIDGE
STAGE
FIRST LOOK
DESIGN CENTER
SECURITY JSA
CLOCKWORK
GERMANY
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Entrance from Casino/Hotel: Four Seasons, Mandalay Bay, Delano & Taxi
ESSENTIALS & TECH
PRESTIGE
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ENTRANCE ENTRANCE ENTRANCE
LUXURY REGISTRATION
ENTRANCE
Escalators to Bayside, Level 1
PRESS LOUNGE LOYALIST LOUNGE
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REEF BALLROOM
ENTRANCE LUXURY REGISTRATION
JCK REGISTRATION
VICENZAORO
PRIVATE BALLROOMS
Elevator Escalators to Bayside, Level 1
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LA NOUVELLE CLASSIC PETITE
P O R T É E PA R
ELSA HOSK & MING XI
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2017-10-27 11:14 AM
Luxury Brands and Advertising Budgets: A Redirect Needs to Happen by Christophe Caïs, CEO of Customer Experience Group
Feature:
Advertising & Marketing
NO ONE CAN ACCUSE LUXURY BRANDS of cutting corners where advertising spend is concerned. On average, they divert 8% of their turnover into funding advertising initiatives. In the US for example, luxury brands invested more than $5 billion in advertising last year, accounting for a significant portion of overall marketing expenditure. Love it or hate it, advertising is a principal ingredient of business success. How else would you make customers be aware of your brand and build an inspirational image? Advertising is also essential for increasing brand equity and driving traffic to point of sales, which is how you boost your revenues.
The twist So, I assume we can agree that advertising remains important. But let’s explore the issue through some numbers to see whether luxury brands are doing it right and extracting maximum value from their advertising investments. Here’s one number: the average conversion rate in retail is about 10%, which is to say that merely 10 out of 100 customers entering a store will buy. The best-in-class brands can boast
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a 20% conversion rate, but that still leaves anywhere between 80% and 90% of store visitors exiting without a purchase. On the bright side, these numbers are not necessarily a harbinger of doom because nowadays a store has become more of a touchpoint along the customer journey. A transaction may occur on the premises during the visit, but it may also take place at a later time in another brand store (think airport outlets, for instance) or online. Therefore, a visit without a purchase is not really the issue. We truly have a problem when non-buying customers go away without leaving their personal information. This should be ringing all sorts of alarm bells because it means the brand cannot continue its conversation with these customers. Our research shows that in 2017, an average of 65% of nonbuying customers were not invited to leave their personal information. In other words, this is nearly 60% of store visitors who cannot be engaged in further conversation. Advertising is only one of many budgetary considerations for luxury brands when it comes to attracting customers to a store as it also entails expenditures on rent, fittings, and staff salaries, among other things.
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“Our research shows that in 2017, an average of 65% of non-buying customers were not invited to leave their personal information. In other words, this is nearly 60% of store visitors who cannot be engaged in further conversation.” When you add it all up, you start questioning the rationale behind these investments. Not because they no longer matter in the grand scheme of things, but because the current retail landscape has rendered existing advertising budget allocation practices inefficient. When you think back to those nearly 60% of clients not engaged at all during a store visit, it becomes painful to think of the revenue opportunities missed, not to mention the “waste” of money spent to get those customers to cross the store threshold in the first place. Luxury brands now operate in a world where consumers are starting to sidestep advertising and increasingly count on referrals and recommendations to choose a product or a service. Think of it in this way: marketing is no longer about what you say to customers but how you influence what they say to each other.
The fix With that in mind, it seems clear to us that luxury brands should spend more on creating unique and memorable customer experiences (both in-store and post-purchase) for buyers and nonbuyers alike. Front-line team members should be considered an additional marketing channel, or at least an extension of one. While brands make substantial investments in PR and special events, they need to spend more to make a positive, lasting impression on the
customers who come into the store instead of striving to draw even more customers inside. Part of the advertising budget should go into delivering customer experiences and providing value to store visitors, surprising and delighting them at the same time. You can guess what will follow, can’t you? Conversations sparked by viral tweets, social media shares, and likes, which is as good as advertising gets for luxury brands.
The help The gist of what has been said so far is that luxury brands need to pivot from a push to a pull strategy. Carving out a larger portion of the advertising budget to invest in customer experiences is the way forward, but multiple factors need to interact for effective execution and tangible results. For one thing, brands need to put the right people on the shop floor. This may require investment in proper training and ongoing support. Other necessary ingredients are decent pay plus the right KPIs (Key Performance Indicators) and incentives. Last but not least, luxury brands should empower their teams to do whatever is required to deliver a high-quality customer experience— one that will be remembered, shared, and seen by many. When the social media and word-of-mouth mills start churning, luxury brands will have all the vindication they need for having aligned their advertising budgets with the new realities of retail. CJ
Founded in 2017, the Customer Experience Group is the alliance of three leading agencies, Activate Experience, Albatross CX and Face2Face Training and Consultancy, offering together a framework that elevates customer experience. The Group caters to 200 of the world’s iconic premium and luxury brands and helps them transition from a transactional model towards a personalized relationship and emotional model through research, consultancy, experience feedback, training and coaching. Learn more about Customer Experience Group by visiting www.customerexperiencegroup.com.
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Camera Ready photograph by impressionsjewellery.ca
Make sure time is always on your side. If getting to an important business meeting or a dinner date no one wants you to be late.
Jewellery: Valima Watches
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Jewellery: Crystal Dreams CANADIANJEWELLER.COM
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You'll feel wrapped up in comfort and style with these elegant bracelets and rings. Cool stones in fiery polished tiger-eye or rustic stone match up well for a hot look including braided titanium steel and black leather.
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Jewellery: Buddha to Buddha DECEMBER 2014
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Camera Ready
Nautical styling makes you the captain of your spring look. Beads pair up perfectly with chains of silver, platinum and steel. photograph by impressionsjewellery.ca
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Jewellery: Italgem CANADIANJEWELLER.COM
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DECEMBER 2014
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Retailer Profile: Roset by Reid
Celebrating 40 Years of Exceeding Expectations by Rob Shaw
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Before
After
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Retailer Profile: Roset by Reid
FAMILY-OWNED JEWELLERY RETAILER, Roset by Reid, based in Medicine Hat, AB is celebrating 40 years in business at their new location, a renovated old firehall on Dunsmore Avenue. Company president, Chelsea Roset Siggelkow, is very excited about their new location that just opened in March. “We bought this old firehall as we saw so much character and potential in this place; it’s a big old building and had all the bay doors where the fire trucks would pull through. But we converted the garage area into this incredibly spacious jewellery store with a vaulted ceiling. We kept the history, the heritage and the uniqueness of the firehall, while updating and modernizing it into this chic industrial space.” Roset Siggelkow is the daughter of the founder and CEO, Duane Roset, who purchased their original downtown Medicine Hat location in 1979. Over several decades the downtown city centre evolved, creating an issue for customer parking as the store’s clientele grew. As Roset Siggelkow explained, “When we heard this firehall was going to be for sale, [buying] it kind of just came up in conversation with my husband Travis and I, and maybe that’s a bit of personal sentiment to us as Travis is a firefighter.” After a bidding process the property was purchased by the Roset Siggelkow’s and renovated with the intent to preserve the building as a piece of local history as well as their new store headquarters.
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The new location for Roset gives the owners three times the retail space and an exciting, more glamourous look. They heard some had wondered about their move during the current economy and suggested investing in online sales instead of a larger store. But according to Roset Siggelkow, “I do not think brick-and-mortar is dead. I think the old mentality of business is dead where you do not have to compete or you do not have to be relevant in your pricing. I think people want a relationship with an old school shop and have those relationships that they built and forged over time. We want to be the jeweller with generational clients, where we have been working with their grandparents and the parents and the kids and it’s amazing to be able to watch them come into the store over time.” It’s obvious Roset Siggelkow is passionate about the business and their client relationships. She asks all staff to focus on each client individually and build a relationship with them. “We are in a smaller city; it’s just under 65,000 people, and really how you differentiate yourself here is how you treat your customer. Our service is authentic, and that sets us apart; we will go the extra mile because we want to maintain long-term relationships.” Roset offers a wide range of price points and products to suit any client and they customize to individual need. For instance a customer recently shared his personal story of a design he wanted
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These are tough decisions. Store ? g Closin and purchased a Noam Carver engagement ring for $1,600 with a 1-carat moissanite in the centre. Later in the afternoon, another client walked in with his vision about a stone, and bought a 2carat round GIA certified, with a Veraggio ring, for $23,000. Roset specializes in getting the customer what they want within their particular budget. Enlarging their retail space in the new store was designed to better serve their customers. Roset has a tradition of serving families, for several generations, and this has become a unique selling point for them. Clients like to see the store and staff, so the owners ensured the new location had space for them, maintaining that personal touch while also embracing technology. Roset maintains their wholesale business by sourcing stones from all over the world to find the best deals. Customer service is important but they buy stones as competitively as possible to give their margins that extra edge. Another thing the owners feel positive about is their staff which Roset Siggelkow describes as excellent. “They give 110% every single day and they all feel like family. It is a family-run business and although not all are related, we all feel like family.” The company has two primary divisions; the retail store and the wholesale business. In addition to Duane Roset as CEO, daughter Chelsea is president of Roset By Reid, and son Tyson Roset is president of Roset Diamonds. “I know what I’m good at, dad knows what he’s good at, Tyson knows what he’s good at. So, we hire for our weaknesses; we hire for parts of the job we enjoy a little bit less so we can do the jobs we’re each really excellent at.” Roset’s patriarch Duane Roset is in his 40th year in the jewellery industry and according to daughter Chelsea his greatest gift to the business has been his integrity; putting his devotion to making customers’ dreams come true ahead of profit. “Many customers have remarked how dad makes each client feel as if she or he were the most important person in the world.” When reviewing the company’s success in the jewellery trade thus far, it appears this focus on customer relationships has worked well as a backbone for the family business. They proudly display this message in their website’s About Us section: “It’s nice to be important but more important to be nice.” CJ
SPRING 2018
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Going out of Busin ess?
Retirement?
We can help . Silverman’s Consultants have delivered sales strategy, direction, and solutions to jewellery stores of every size. Whether you’d like a transitional plan, retirement strategy, or a total liquidation, Silverman Chapman & Reese has the custom-made solution to create your successful sale event.
Give us a call to discuss your options.
Saskatoon & Toronto | 1-888-955-1069 office@silvermancanada.com www. silvermancanada.com
2018-04-03 11:19 AM
Company Profile:
Vantyghem Diamonds
RICH PAST THRIVING PRESENT BRIGHT FUTURE
A look at Vantyghem Diamonds as they celebrate their 45th anniversary For more information visit www.vantyghemdiamonds.com by Michelle deVries photography by Joseph Hofer
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ARLETTE AND RALPH VANTYGHEM grew up among the diamond cutters of Belgium. The diamond business was a natural fit for the couple. Bringing the expertise of Antwerp to Canada, they started Vantyghem Diamonds in 1973. With support from Canadian independent jewellers, the business expanded nationwide. The art of the diamond runs in the family. After achieving an undergraduate degree in biology, Kevin Vantyghem successfully invested six years honing his business expertise in pharmaceutical trade before carrying on the Vantyghem diamond legacy. Completing the GIA diamond graduate course, he equipped himself with valuable hands-on experience in Antwerp, Belgium—where it all began. Kevin’s background and over 10 years as part of Vantyghem Diamonds have given him confidence, experience, and a fresh perspective.
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Company Profile:
Vantyghem Diamonds
“A commitment to accommodate the needs of each client individually, the business has earned trust and friendships, the highest of rewards.” But the jewel in the Vantyghems’ crown isn’t the gems themselves—it’s their customers. The highest value is placed on relationships, built over years of working together. They honour their commitment to accommodate the needs of each individually. Friendship and trust are the highest rewards. That’s why the Diamond Certification and Authentication Plate System™ was created. Each Canadian diamond is presented with a uniquely engraved plate, displaying its grading information. Both the jeweller and the customer are equipped with all the relevant information at their fingertips. By innovating and improving their experience, Vantyghem Diamonds is setting customers up for success. The Vantyghems are pioneers of “branded” diamonds. Reflective of their roots, the first brand was named after the diamond capital of the world—the Antwerp Ideal™, launched in 2000. These diamonds are cut to exact proportions to optimize
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the gem’s colour dispersion and refractive index. Mastering both math and design, Vantyghem Diamonds created a diamond of unequaled beauty, the perfect balance of brilliance and fire. From the strong partnerships they’ve established come diamonds from all over the world, with cutters and suppliers from Antwerp, Mumbai, New York, or Hong Kong. Still, many Vantyghem diamonds are locally sourced from Dominion Diamonds, Rio Tinto, and De Beers, all established Canadian mines. Each diamond has a story—a history and a future—and the Vantyghem family is dedicated to create a legacy for each one. That’s the joy of diamonds. There’s the incomparable, natural beauty of the stone. And there’s everything it represents: a gift, an occasion, a milestone. Passion. The experience of receiving such a token is exceeded only by the joy of giving it away. For more information visit www.vantyghemdiamonds.com
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Designer Profile: Sauro
PRESERVING
THE VISION
Sauro Jewellery’s relaunch five years ago by its new owners, headed by the Sapir, Dana, and Sedazzari families also brought a rebranding focus for the now 30-year-old Italian jeweller. by Rob Shaw
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OVER THE LAST FEW YEARS, the Sauro brand’s design roots were redeveloped utilizing more modern alternative materials like titanium, carbon and rubber in design, which clicked very well with the demographic they serve—exclusively men’s jewellery. This suited the history of the brand known for its technical expertise and unique creativity as a jewellery manufacturer. According to Director of Brand Development, Johnny Sapir, “Technical precision has always been a number one priority for Sauro. Materials and designs may change over time but our clientele knows our attention to detail does not change.” Sauro, known for its patented chain style continues to stand out from the crowd with their truly unique designs. This is a conscious choice as Sapir said, “We have chains that no one else in the world has and nobody else in the world can make. We create certain styles just to be special, to be different.”
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Designer Profile: Sauro
“It’s not necessary to be in every store but it’s necessary to be in the timeless, fashion forward, and trendsetting stores.” Sauro Italia Gioielli Oltre was originally founded by engineer Ivo Sedazzari in Italy with his vision of creating functional jewellery designed with innovation and artistry. Their technical expertise in manufacturing stems from Sedazzari, who as an engineer by trade, developed the expert functionality of the mechanisms still used in Sauro jewellery today, while being carried forward by his sons Jacopo and Cosimo. Sapir has found the biggest challenge facing the industry now is appealing to the unique buying habits of consumers in different regions. “The market is very difficult because things are constantly changing and what may work in Los Angeles, works here a year later, or vice versa,” he explains. “We have to bounce our products around and the challenge is constantly trying to adapt to the current market.” The redevelopment of their web site has helped the brand make inroads into other markets through dealerships with the most exclusive retailers. “Sauro is such a niche; it’s high-end men’s jewellery, so there’s always a small market everywhere,” he says. “It’s not necessary to be in every store but it’s necessary to be in the timeless, fashion forward, and trendsetting stores.” The Sauro brand has grown along with men’s revived interest in unique luxury jewellery and which today allows men to accessorize with or without timepieces. Sauro offers numerous rings and necklaces in addition to their bracelets to complement most any fashion need, casual or formal, contemporary or classic. CJ
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Tech Profile: ARMS
A Technology Leader
After more than 35 years in the business, Advanced Retail Management Systems (ARMS) continues to combine innovative software development with business expertise to help jewellery retailers reach success worldwide. by Rob Shaw
ARMS WAS FOUNDED IN 1980 in New Zealand by its current Director of Global Operations, Malcolm Alderton, who saw the potential of using technology to gain better control of his own inventory and therefore increase sales and profit. “Owning a jewellery store myself, I understood the frustrations of being timepoor from having to work all day, then manually analyse what was working in my store and what wasn’t. I knew there had to be a better way,“ said Alderton. Because he understood the difficulties retailers face, Alderton designed the software with ease-of-use foremost in his mind. “A computer system is supposed to save you time and therefore money,” he said, “so this is what we focused on in developing the software.” This first product created and sold in 1980 by ARMS was an inventory management system that over time evolved to become Supergem. “Supergem is the heartbeat of our modular system, and originally was designed for my own business use only,” said Alderton. However, colleagues in the retail jewellery industry quickly noticed the results he was achieving with his software and wanted to use it in their stores, so the business was born.
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Today ARMS caters to all levels of businesses, both retail and wholesale. “We have clients that range from single-store operations turning over three quarters of a million dollars of inventory to multi-store operations taking in more than $50 million,” said Alderton. Every business has its challenges and the first one faced by the company was coming to the realisation that theory and practice were two different things. This resulted in the original software eventually needing to be rewritten based on practical use. According to Alderton, “The business was immediately successful because the management analytics reporting incorporated into the software was something no one else was doing.” The software update allowed jewellers to take a clear look at what was happening in their business and make changes to increase profitability. It was this feature that was so far advanced than any other software—and still is—that created a global market for ARMS. “Our first move internationally was to open an office in Australia, followed by GIA sponsoring us into the US market with a GIA ARMS partnership which was a big success,” said Alderton.
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Like many others in the business, Alderton first worked in his family’s jewellery store, learning the industry from his parents, so it became a business he loved from a young age. “My passion now is helping other jewellery retailers to grow their business to maximise profits and the lifestyle rewards that success can give them,” said Alderton. ARMS’s management analytics reporting software is one product that still stands out from its competitors. Analysis has always been a major focus for Alderton because he is a firm believer that, “you can’t improve on what you can’t measure.” Having easily accessible, real-time information about a business is vital to success. “The logic the software applies means you can easily access pertinent, instant reports on all aspects of your store to allow you to make relevant, timely decisions for better management of your business,” he said. “It is a shame that we see so many 2nd and 3rd generation independents closing their doors because they have not adapted to current management requirements. We are living in a fastchanging retail environment and not adapting results in an increasing amount of old inventory choking the business,” said Alderton. “The bottom line is you can’t have money sitting in the bank and gathering dust on your shelves at the same time.” ARMS has always looked for ways to utilise technology to make life easier for jewellery retailers. ARMS iQ is one program that gives jewellers the ability to access their vital management reporting from anywhere in the world on any device that has internet connectivity, including smartphones, tablets, laptops and computers. “You can easily and immediately see in a clear graphical display, vendor performance, salesperson performance and department performance, compared month-by-month over the past five years.” said Alderton. “This is super powerful.” ARMS has a long history of innovation when introducing new software. Over the years Alderton has had an uncanny ability to predict what will be “the next big thing” in jewellery retail. His insight allows new developments to be programmed into the ARMS system before the competition catches on. “We have a
commitment to constantly evolve our software to keep up with the latest technology available so our customers have an edge over their competitors.” Technology aside, one of ARMS’ stand-out features is the personalised business approach that attracts clients around the globe—their philosophy of “People Matter!” is a key principle of the business. Alderton takes pride in calling his software company the lowest tech high-tech company you will come across. “While we are a cutting-edge technology company, our primary focus has always been people,” said Alderton. “Unlike most companies these days which have a robotic answering system to direct your call—after you have been on hold for 15 minutes, when you call ARMS a person answers the phone. That is the way it has always been because our clients are not just a number,” he said. Customer service is extremely important at ARMS. “The first step to any new customer joining the ARMS family is we assign an installation manager to hold their hand and guide them through the whole process,” said Alderton. “Our aim is to have the ARMS system up and running with little disruption to their business, so it is vital the customer has a go-to person that keeps the lines of communication open and can answer all their questions. It is the start of the super service our customers can expect from ARMS,” he said. The benefits for customers of ARMS have been measurable for more than 35 years, during which time the company’s technology has helped thousands of jewellers reach their full business potential. “The vast majority of our clients have grown their business substantially simply by using the ARMS system,” said Alderton. “This has resulted in an increased quantity of sales, higher average sales, less discounting and smarter purchasing from vendors to increase profits and lifestyle rewards for the owner of the business.” ARMS provides professional technical support for their hardware and software, and they also offer management training which focuses on helping create the best possible business
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Tech Profile:
Karen Simmons
ARMS
Karenaccelerate Simmons is a Graduate Gemologist The Gallerie proprietor and an author of nine books, customer (GIA), history toGem suggest items that complement previous decisions to maximise profit. “We help our clients Buying Diamonds forpurchases, Pleasure andas Profi t and winning Chicken for theon Soul, which she well asaward access details from Soup suppliers a piece the growth of their business by implementing including: better inventory co-authored with Jack Canfield. Find more details about diamond S.P.A.R.K.L.E.™ in Perfectly Clear, which of jewellery the customer may want but isn’t in the store. The management policies, analysing sales and tracking supplier shares more information about Canadian diamond history and the true value of diamonds. important part of this is that the salesperson can do it all right by performance.” said Alderton. “Better business decisions mean their side without leaving the customer on the salesfloor.” more money in the bank which is vital when retailers are When asked about what we can see coming from ARMS in competing with so many other others, including the internet for the near future, Alderton is a tad less forthcoming. “We have a the consumer dollar,” he said. number of other exciting and innovative projects in the works It is this “One-Stop Shop” way of doing business, encompassing a big imagination since but childhood, Joelle’swith styling has beenof a natural and a constant in keeping ourcareer philosophy stayingfitahead of our easy-to-use software, friendly technical supportHaving and professional evolution creativity. Ria Mae,we Future Hendrix, Priyanka Chopra, Lupul, andfor new competitors, don’t discuss concepts orJoffrey release ideas management advice that has made ARMS unique in itsoffield of Clients include Magazine, until Sharpthey Magazine, Clin D’Oeil Canadian Find info on are ready to goand live,” said Jeweller! Alderton. competitors, and so popular with their clients. publications Elle Quebec, TIMEproducts Joelle at joellelitt.com. ARMS has grown to include offices in the USA, Australia and Alderton recognizes there are challenges in being a leader New Zealand, and along the way has increased the size of their in the field. “The main challenge in offering new technology to team considerably. New staff members are chosen-in house by an old school market is changing ingrained, and sometimes a panel of key team members to select people who are not only generational management practices that are no longer sufficient technically outstanding, but who also have the people skills to for current business conditions.” communicate and relate well to ARMS’s clients. Like any other business, the jewellery trade is ever-evolving, a This attention to their own people and their customer base has concept not lost on Alderton. “A recent trend we are seeing in the Not only is he VP and jewellery specialist at Dupuis Auctioneers in Toronto, but Duncan Parker is also vicebeen a primary goal for ARMS and it shows. They have become jewellery industry includes the prominent use of iPads or tablets president of The Canadian Gemmological Association and past president of Jewellers Vigilance Canada. a jewellery, worldwide success story in inthe theindustry jewellery business, but software as a Point of Sale on the sales floor to create a An ‘wow’ factor,” said educator in gemmology and Parker has worked for over 25 years. If anyone is Alderton believes that in the end it all comes back to the Alderton. “This type of POS helps the salesperson build stronger qualifi ed toabe our gemmologyaside, columnist, it’s him. ARMS number one philosophy— “People Matter!” CJ relationship with a customer because he or she can look up the Contributors
Joelle Litt
Duncan Parker
J.W. Histed Diamonds Ltd. Vancouver, B.C. Full cut Rounds—Single cut Rounds—Natural Colour Rounds—Treated Colour Rounds Straight Baguettes—Tapered Baguettes—Princess—Grooved Princess Heart—Oval—Pear—Marquise—Cushion—Trillian Emerald—Carre—Asscher—Radiant—Trapezoid—Half-Moon—Rose Cuts Available .03ct to 1/4ct+ single stones for a repair, matched side stones, to 25 stones for a Anniversary Ring
in-stock!...In-Vancouver!...IN-YOUR STORE!
OVERNIGHT! Contact us for a current price list or online at www.jwdiamonds.ca 1-800-663-1458 / 604-681-8519 / fax 604-681-2413
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Tech Showcase
Matrix 9 The Matrix 3D design software, the most advanced jewellery creation software in the world, offers the most complete suite of design tools available today. With their builders, V-ray rendering software and the new addition of Clayoo 2.5 makes Matrix a must have for any jeweller looking to take custom design to the next level. http://gemvision.com/m9/
European Design Welcome to the new age of jewellery where laser welding makes the seemingly impossible jobs now possible. The Laser Welder R-Evo is Italian engineered for a smooth, reliable, and powerful performance. Take advantage of European Design’s free laser training to use laser technology to its fullest potential. Contact info@europeandesign.ca for more information.
ARMS Touch Screen Point of Sale SchumacherTech GmbH & Co. KG SchumacherTech GmbH & Co. KG has many years of experience and know-how in the field of wedding ring production. Anything is possible, from the modernization of existing productions to the development of complete production lines. Their strength is the mechanical processing with lathes, diamond-milling machines, engraving machines, tools and much more. www.schumachertech.com
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ARMS exciting new touch screen Point of Sale was custom built by a jewelry retailer for jewelry retailers. Designed to be user friendly for operators, new larger buttons on screen make entry and navigation easy. Make a sale, do a refund, exchange, tradein or buy-in, all in the one transaction. ARMS SmartPOS intuitive software, which can be used on any tablet or desktop terminal with a Microsoft operating system, is simple and fast to use, leaving sales people free to make sales. Learn more at www.armsusa.com or see us at JCK Las Vegas, Essentials Pavilion, Booth B61063.
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YOUR KEY TO SUCCESS JCK
LA S V E GA S S ESSENTIAL PAV I L I ON B O OT H B61063
ARMS was THE FIRST & is still THE BEST Jewellery Software in the Industry! That is why our competitors use ARMS as the benchmark in their marketing. “If they say their reporting is better than ARMS... it isn’t. If they say they have been in business as long as ARMS...they haven’t. If they say they are better than, or even as good as ARMS...they are not!” Do you desire increased profits, greater control and direction while having more free time away from your business? Enjoy today the lifestyle rewards a successful business brings!
Call ARMS today for an online interactive demonstration! Phone: 800.228.9073 • Email: rodneyr@armsusa.com • Web: www.armsusa.com CJ AD Template.indd 53
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Changing Times
The world is constantly changing and the world of jewellery is no different. But if you utilize your expertise to keep ahead of the status quo, growth is possible. by Tyson Roset
Industry Focus
THERE ARE TWO TYPES OF JEWELLERS TODAY; the ones struggling to find their way to compete in the new market reality, and the other ones who push their creativity into developing profitable new solutions. Here are several ways to help lessen the struggle and bring back the profit margin. 1. Become the store in your market that becomes known for Customer Solutions. Unfortunately, there is some backlash currently which leaves customers longing for exceptional customer service. Go the extra mile with every customer. Give them service that they will boast about. One sale can turn into five near-term referrals, and you may save money on your marketing budget 2. Be a specialist. If you are tired of being compared to the least expensive stone found online then sell stones no one else can find. There is huge value in the colour diamond market; particularly the stones with overtones. Find the shades of colour that suit your individual customer then sell to that desire. 3. Know your shapes! Have you ever looked at a cushion brilliant and a cushion modified beside each other? How would your customer compare prices on Old Euro, Old Mine or Rose cuts? How does the number of chevrons affect the brilliance of a Princess cut? Quote stones that your customer can not compare so easily. 4. Personalize your customer’s stone. Can a diamond’s origin complement your customer’s heritage? Are there numbers or dates that are important to your customer? 5. Consider adjusting your margin on a diamond sale. It is very easy for your customer to find a generic stone online to compare
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to your price. Make sure your price plus the service is enough for the customer to tell five friends. You can build higher margins on the ring and also on the band than on anniversary, children’s or engagement rings 6. There is a trend to substitute gemstones or Lab stones for center diamond. Most likely you can enjoy the margin from the 1980s on these sales. Lab-grown diamonds and Moissanites are exciting for some customers but limit the exposure to your inventory. 7. Colour gets so much attention! There are so many exciting gemstones with which most customers are not familiar. Ask their favourite colours then double-check your prices on all sources. There is often a large discrepancy in wholesale margins on gemstones. 8. Be the expert that our customers hope we are! There are multiple solutions to every repair or design issue. Try custom design CAD services; customers love the design process and the ability to personalise their “huge moment”. Repairs should still deliver your best margins and should also be higher when you tighten sourcing of materials. All of us who work in the jewellery business are blessed to be working in this field. Remind yourself what you sell and who you are. Be proud of your brands! You sell the most beautiful items on earth; do you think customers negotiate with Lamborghini? Be consistent with pricing as every customer deserves the same great deal regardless of how many comparable quotes they may bring. You are the expert in your field; ensure your marketing and customer services reflect your expertise.
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Engineering & Special Machinery Construction In the focus - the wedding band and jewelry industry MADE IN GERMANY
Wedding ring production from the tube Economical use of precious metals Customized solutions Fulfilling of the highest quality standards We share our knowledge and experience Personal advice and support Flexibility by our own development department Talk to us, we find a solution for every problem.
SchumacherTech GmbH & Co. KG, Engineering & Trading Untere Reute 44, 75305 Neuenbuerg/ Germany Tel. +49 7082-79262-0, Fax +49 7082-79262-29 info@schumachertech.com, www.schumachertech.com
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Valuing the Invaluable
How to Be A Complete Jewellery Appraiser - Part Two by Anne Neumann
Gemmology
LAST TIME, we discussed the importance of the item being appraised in the client’s eyes. This time I would like to talk about the appraisal document itself. An appraisal has many uses. It can provide a value for collateral, a value for settling an estate, a value for the fair disposition of assets amongst beneficiaries, a value for divorce settlement, or a value for replacement through insurance in the event of loss. The latter is the most often seen, but in each case, the value conclusion is based on a full and careful description, and an accurate estimate based on current market conditions. A properly written appraisal contains a complete analysis of the item. This description of the nature of the piece; construction, content, weight etc., can then be used to calculate values that can be used for many purposes, some of which are mentioned above. The thing to remember is that when items are being appraised and a value conclusion has been reached, the document must state the reason or purpose for this appraisal. Is it for probate, for cash sale, for collateral, for fair market value, or for insurance replacement? Confusion of purpose can cause a great deal of trouble, both for the appraiser and the client. Now, let’s talk about an insurance replacement appraisal. When preparing an appraisal for insurance it is important to remember that in the event of loss this document may be used by a third-party replacer to “make the owner whole” as they say in the US. That cannot be achieved without the original appraiser providing detail, detail and more detail. It is also, and perhaps most important to remember, for insurance only. The appraisal for insurance is simply that—not a selling tool or proof of extraordinary “value” over and above the selling price. Using an inflated value calculation can cost the customer greatly when such a document
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is used for insurance as that value determines the premium that the customer will pay for coverage. I cannot remember how many times a client has said, “but that’s what I paid for it”. When that happens, I feel a rush of pride for getting the value right. What I have calculated is exactly what it would take to get another one. The client, however, is not always so happy about it as he or she has been assured by the jeweller that the actual purchase price was significantly less than replacement, and here is a document by an appraiser that “proves” it. Usually, these “appraisals” are light on detail and heavy on price estimation. An appraiser should make every effort not to get caught in the middle of that sort of transaction. I cannot think of another business where a third-party document is used to support a sale. Can you imagine buying a car for $35,000.00 and being told that it is really worth $80,000.00 and here is a piece of paper that proves it? Such an automobile seller would be laughed right out of business. As a professional, it is important that you tell your customer that the insurance appraisal must be updated every 5 years or so for appropriate coverage and that the price does not always go up. Variables such as exchange rate, precious metal and gemstone markets, and even the economy in general all can and do have a powerful effect on calculated replacement values; pressures which in most cases cannot be predicted. In the early 1980’s gold and diamonds reached historically high values that slid back to much lower levels as the decade proceeded. The jewellery customer who made a purchase in 1981 saw the appraised value of his item decrease greatly by 1990. You as an appraiser cannot account for that. You can only calculate value on current replacement and current economic reality. CJ
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2018-04-02 4:29 PM
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Using Signage in Your Cases by Sally Furrer
On Display
IN-CASE SIGNAGE can be a very helpful tool to communicate with your customers while they are browsing, enhance your product and most importantly, tell a story. Always assess your signage to make sure that it is consistent with your store brand and image. A few important notes to keep in mind: Too much pricing or signage combined with multiple slot trays create a “mall store” look. Less is more. Some pricing is recommended so your customer has a sense of affordability, but use sparingly, and use groupings of “starting at $495”, for instance. If you have unique, interesting or proprietary product you will definitely want to highlight them with signage. Here are a few more considerations to take into account for signage.
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Signage Basics •
• • • • •
Signage could be a designer name, a collection name, a collection tag line, visuals and images, store features and benefits, or even pricing. Every showcase should have some kind of signage. The primary sign should be at the front and in the centre of the case. Other signage can be on or beside your platforms. Changing out your signage seasonally is another way of keeping your showcases fresh looking. Keep signs free of fingerprints or any evidence of wear and tear. Never use hand-made or hand written signs. Have a printer create them for you. Signage should always have a holder which matches your displays. An exception would be some pricing modules.
Each showcase, or platform within a showcase, should be a “storyboard” in itself.
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Positioning the Stories • •
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Tell a Story •
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Jewellery should not be displayed based on their components: for example, all 1 pc. Semis grouped together, and all 2 pc. Semis grouped together. They should be grouped by look and feel (design), because that is how a customer shops. Group your product into collections that tell a story. For example, you could display a collection of amethyst, citrine and smoky quartz jewellery and sign it “Brazilian Beat”. Add some gemstone rough, and you have a story that is relevant and interesting to your clients. A tagline gives the client more information about the grouping or Collection--ex: The Eclat Diamond Collection--“Superior Brilliance Your Eyes Can See”. Add a framed bio with image for each of your designers. Sales associates need to make a designer come alive, so these are a great prompt. Add framed visuals to each case—for example: A romantic sepia photo of a couple embracing in your bridal case. Or an image of a celebrity wearing large hoops with your hoop earring collection.
•
Always work from the centre out. The merchandise displayed should “flow out” from the centre. Assume the customer is standing in front of the case, so arrange the merchandise to face the customer. If a lighting baffle blocks the view, make sure the platforms and elements are toward the back of the case. Try to balance each story so that it’s not weighted on one side or another. Space items so that the eye is forced to focus on one item – or a group of items before moving onto the next group. Curves lead the eye more effectively than hard lines, so try to incorporate curved shapes into your story. CJ
JCK ISSUE 2018
2018-04-02 4:28 PM
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JVC Column
BE AWARE & BE READY Beware of organized gangs of jewellery thieves by Jewellers Vigilance Canada (JVC)
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THE 2017 YEAR-END REPORT published by Jewellers Vigilance Canada (JVC) indicated the lowest number of criminal acts against jewellers in many years. So far this year, 2018 is showing to be the opposite, so now is not the time to be complacent about potential robbery. Because most jewellers assume it will never happen to them, most are not really prepared for when a traumatic event like this occurs. As robberies and other thefts become more frequent and violence escalates, you owe it to yourself, your staff, and your customers to learn what to do when lives are at risk and to protect your merchandise and profits. A hardening of the target must be done by layering your security program while not creating an unpleasant and hostile environment for the honest customers that come into your place of business. Recently in the Greater Toronto Area an organized gang of thieves targeted a number of jewellery stores. They entered the stores armed with a handgun and smashed showcases or demanded showcase keys in order to steal merchandise. It is imperative that anybody involved in the selling of jewellery and watches ensure that their staff is properly and regularly instructed on how to behave during a serious criminal event.
JCK ISSUE 2018
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“Recently in the Greater Toronto Area an organized gang of thieves targeted a number of jewellery stores. They entered the stores armed with a handgun and smashed showcases or demanded showcase keys in order to steal merchandise.” The protection of life should be of utmost concern. This can be one of the most inexpensive security measures you can take to help protect staff, customers and merchandise. I have had many jewellers tell me they do not want to frighten their staff by having such training sessions or by showing them JVC alerts as to what types of crime are taking place in their area. It is understood that criminal events are upsetting, but in this modern world we "Either face reality or reality faces us." (Nathanel Kanyinga). The JVC crime web site www.jewellerycrimecanada.ca/ has many good articles and guidelines dealing with criminal issues specifically for jewellers. You will find articles on the following: • Three Minute Break and Enters • Shop Theft • Travelling Salesperson Risks • How to Stay Safe During a Robbery • Robbery Prevention and Safety Techniques
wife, or father and son. Although Alberta, Ontario and Quebec are the main target areas, all retailers should remain vigilant. JVC describes two main types of distraction scenarios: 1. They engage the sales associate and ask to see a number of pieces of jewellery or watches. One subject will engage the clerk in conversation, and produce a large sum of cash, sometimes in Canadian funds, American, or even Euros. This has a tendency to have the associates "let their guard down" and allow themselves to be distracted. This is when the thieves will strike and the second person will pocket merchandise, usually expensive gold chains or bracelets or high-end watches.
Under the icon "Articles and Videos" I would recommend reading the following: • Display Case Security • Hardening of the Target
2. A second scenario involves a request to see a number of pieces of gold jewellery, and they request to have it packaged in separate boxes, or sometimes all in one box. The subjects produce numerous $100 bills or Euro's to pay for the items. They then tell staff they are going to the bank for currency exchange. When they do not return and the boxes are opened, it is discovered that all the jewelry is missing.
The best thing is these resources are all FREE to download. JVC has recently reported on an increase in Distraction Thefts primarily in Ontario and Quebec, but also in Alberta. Law enforcement agencies suggest there are several hundred organized gang members from Eastern Europe that have entered Canada since December 1st, 2017, due to the relaxation of immigration visa laws. These gangs are travelling across Canada committing thefts in jewellery stores as well as department stores such as Walmart. The criminals work in pairs as husband and
All the crimes, once reviewed on video, could have been prevented. If you suspect thieves have entered your store, call in another sales associate to assist. Remain in control of the jewellery, and deal with one piece at a time. If asked to package items separately remain in control of the product until the payment transaction is complete. Report any suspicious activity to JVC so they can track the movements of these organized groups. If we communicate as a team and share information we minimize the risk for everyone. CJ
JCK ISSUE 2018
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GOLDEN DREAMS Style Council
Match any shade of pastel with gold and fire. Rose gold is the perfect complement to pastels and hot this year are precious gems in unusual colours. Garnets or sapphires in yellow and orange will perk up pastel prints; accent diamonds with opals, or pair pastel gems like aqua chalcedony with neutral colours of tan and ecru.
1.
2.
3.
4. 1. Flica 22.43ct lemon quartz, 0.40ct VS diamond Necklace, $3,799 2. Rosefield West Village collection watch, $169 3. Erin Tracy Sauvage Ring, Aqua, $1,550 4. Sutra Mandarin Garnet Earrings Runway: Agnes B Women's 2018 Spring Summer Collection
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1. BOLD & BRASH
Combine brown or white with less formal contrasting shades of pastel blue or pink that are hot off the runway this year. Shine bright at night with accents of white gold or stainless steel, while a bold statement can suit both day and nighttime looks.
2.
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1. Buddha To Buddha 925 Sterling Silver NURUL bracelet, $625 2. Rado DiaMaster Power Reserve watch, $2,700 3. Gravure Commitment by Atlantic Engraving 10K white gold with black rhodium ring, $830 Runway: Wood Wood Men’s 2018 Spring Collection
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