The Plumb Club’s Podcast

Russian Sanctions Update - August 2022

As a result of the February 2022 invasion of the Ukraine by Russia the US government issued sanctions against Russia and Russian owned companies. For the jewelry industry, this put an end to the supply of Russian diamonds being able to be sold in the country. Subsequently, as the Russian war on the Ukraine continues the US government has been expanding sanctions to include other Russian produced goods, including gold. In this podcast from August 2022, Sara Yood of JVC provides the listener with the sanctions timeline, expanded updates to those sanctions and information on how a retailer should handle sourcing concerns. Sara Yood, Esq. is the Deputy General Counsel at JVC with extensive experience in legal compliance. Sara’s responsibilities at JVC include anti-money laundering compliance, FTC Guides compliance, trademark litigation, copyright, advertising monitoring and review, creating legal compliance tools and publications, and advanced legal strategy.

Store Design - Your Crucial First Impression

Just as the saying goes, “you only have one chance to make a good impression”, so does your store. Your store’s entrance needs to fix a customer’s attention and give them the right sensory information in order to turn them from a mere “passer-by” into a customer. Your stores interior needs to convey what your brand stands for and inspire a customer to trust you to help them make a purchase decision. Leslie McGwire discusses maximizing income from a store via the layout and space planning. She takes the listener through impactful lighting, effective case design and cost-effective coverings for flooring and walls.  Finally, she wraps up with advice on how to keep a store looking up-to-date and current. Leslie McGwire, ASID (American Association of Interior Designers) Allied, is an award winning interior designer and author, with 35 years of experience in retail design and a specialization in jewelry store design. She is the owner of Leslie McGwire & Associates, Inc.

Silver Streak - Why Sales of Silver Jewelry are Growing

Silver has been enjoying a growing percentage in sales and a more predominant place in the product mix at retail. On behalf of Plumb Club Member Samuel B, Cheryl Kremkow talks about the factors that have helped this bright, white metal become a rising star for retailers. She touches on silver’s historic jewelry heritage and on its designer affiliations and provides statistics on how the category is expected to grow in the coming years. Additionally, she paints a picture of the silver customer, illustrating how important they can be for a retailer’s business and gives practical tips on how to get and grow that relationship. The Samuel B. Collection, as with award-winning designer Samuel Benham brings more than 30 years of art and jewelry experience to their collections that focuses on quality, craftsmanship and innovation.

Your Brand as Archetype

A question foremost in the minds of many retailers is, “How can I capture the eyes and hearts of today’s younger, savvy shopper?” Creating a brand that resonates with a specific target market and effectively communicating that brand’s promise can augment awareness and recall, help differentiate from competition, inspire consumer conversation and drive desire. Alex Williams, on behalf of Plumb Club Member IDD New York shares the theory of anchoring a brand in archetype and discusses how those associations are important in defining memorable brands. He takes the listener through 12 core archetypes, how they can be applied to foundational brand making and discusses how they can set a business apart from competition. IDD is a trusted supplier to thousands of retailers nationwide for jewelry programs, best-selling bridal, diamond basics and consumer finance programs, all fully supported by marketing assets.

Personalization & Customization of Engagement Rings

Today’s consumers want to be able to personalize experiences and purchases. Retailers and manufacturers are now catering to this new generation of shoppers by allowing them to modify and visualize their unique versions of what they are purchasing - from clothing to sunglasses to furniture and wall treatments.  Narrated by Jeff Levitt, VP of Merchandise at Cynergy Trading Corp, this podcast discusses how engagement ring shoppers’ expectations have evolved and what new tools are available to the jewelry industry to meet these new expectations.  Cynergy Trading Corp is the source for private label bridal and fashion diamond jewelry. They also have one of the largest just-in-time bridal manufacturing units in the industry.

Is Doing Good - Good For Business?

The concept of companies being environmentally and socially responsible is not new, but it’s becoming even more important to consumers. Michael West, director of sales and brand development for Rosy Blue, New York outlines the benefits and the challenges of producing “responsible” jewelry. He begins with the basic steps of ethical production, explains commonly-heard acronyms, discusses supply chain traceability and transparency, as well as environmental and social concerns. He talks about why these things are important to a consumer and what the jewelry industry is doing to ensure that sustainable and ethical concerns are met. Rosy Blue is one of the world’s largest diamond manufacturers due to their integrity and the exceptional quality of their product. They add value throughout the supply chain, enrich communities in which they work, and act as responsible stewards of society and environment.

Outsource Your Ecommerce

With online representing an ever-growing part of total sales, how can a retailer maximize this increasingly important sector? On behalf of Plumb Club Member EMA Jewelry, Cheryl Kremkow speaks with Karen Weiss, director of ecommerce for EMA to discuss practical strategies and tools that will improve a retailer's ecommerce marketing, merchandising, fulfillment and returns process and help them become leaders in their community. EMA Jewelry Inc. is a leading manufacturer of both gemstone and diamond jewelry since 1977, with factories in Mexico and Asia. Their laser-focus on creating quality products at a variety of price-points provides great value to the consumer and produces high turns and margins for their customers.

Lab Grown Diamonds: What a Retailer Needs to Know

Whatever your feelings, lab-grown diamonds are here, at retail, to stay. Often retailers worry that this new category may harm or cannibalize their natural diamond business, or that the category is too new for them to adequately explain to a consumer. Bridie O’Hagan, vice president of retail at Unique Designs, Inc. reveals that sales of both categories are shown to increase when they exist together and provides reasons for the growth. She goes on to explain how to use the correct vernacular to differentiate between categories and ensure you give the proper information to educate a consumer, as well as how to cross-sell categories to existing customers. Unique Designs Inc. prides itself on being the next generation leader in fine jewelry. A leader in the natural, and now, the lab-grown world they believe in constant innovation and evolution.

Jewelry as Activism

Today’s jewelry consumer wants to know that the brands that they support, align with their values of inclusiveness, empowerment and giving back, making the world a better place for all. How can a retail jeweler capture the attention and loyalty of the Gen Z and Millennial consumers with products and initiatives and support the social issues that inspire these consumers? Join Duvall O’Steen and Andrea Hansen, on behalf of Plumb Club Member Uni-Design as they provide United Nations research statistics and additional insights into the key purchase drivers of Gen Z and Millennials. Further, they provide tips on how retailers can craft messaging and illustrate their commitment to social issues to help attract younger consumers and develop a customer for life. Uni-Design was established in 1995 and caters to its clients around the world with dedicated diamond jewelry manufacturing facilities in India and China. They are known to create designs that become market trends.  

Sustainability and The Consumer

Among younger consumers, sustainability is a huge consideration when buying diamonds, ranking on par with both price and design. On behalf of KP Sanghvi, Charles Stanley, of DeBeers North America illustrates why it is important for businesses to have a sustainability strategy. He discusses today’s consumer and how they are placing “positive impact” as a key purchase consideration when buying diamonds and how the industry is working hard to build this value proposition. Additionally, he showcases how a retailer can effectively communicate this to their customers at retail. For over five decades KP Sanghvi has dedicated itself to the art of perfection in craftsmanship, a dedication that shows in its products, ethics and its people. The company has built strong relationships with clients all over the world, and their manufacturing and sourcing capabilities are second to none.