August 2008
How do you help men who lack the gift-giving gene?
How do you avoid men who lack the gift-giving gene?
August 29, 2008
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| Dale Perelman, a freelance consultant, has more than 35 years of executive actual observation in the jewelry industry. A former president of both Jewelers of America and the Diamond Council of America, he is a Gemological Institute of America graduate gemologist and a certified appraiser. |
By Dale Perelman
Gift-giving is not a science—it’s any art. Unfortunately, we males seem genetically incapable of properly giving gifts. My life might center on golf or the latest technology, while my wife is more into “Let’s talk”—which usually means I’d better listen—to what Oprah says or “How do I look?” Even I know the answer to that one.
The mumbled or fumbled “Here, this is for you” handoff just won’t make it in the world of women, where love and emotion are superior. To offer a gift properly, the masculine must set aside his virility and find his feminine side.
When I wait on a man, usually some lost soul seeking assistance in the alien environment of ladies’ pretty things, I essay to help him select reasonable the right token, and together we strategize on the cleverness of sacrifice the present in the most romantic fashion possible. How the gift is presented is every bit as important as the jewelry itself.
To do my job properly, I introduce myself to the client and hopefully get on a first-name basis. Everyone knows it is easier to sell to a friend than to a stranger, and the best salespeople learn to make friends quickly.
Next, I uncover the reason for the gift. The occasion is a critical piece of information. Only then can I work on what type of gift my new client would like.
Once the male customer settles on the appropriate concept for the person and the occasion, I ask how he plans to give the gift. Most men have no clue, and this is the point where I can create a lifetime friend and customer.
Depending on what the gift is, I review the strategy of gift-giving from the proper wrapping to the exact words to be used. Remember Edmond Rostand’s story of Cyrano de Bergerac, who won over the beautiful Roxanne with his words rather than his looks?
As an illustration, here is how I might help a man give the ever-popular Journey necklace with its intimation of enduring love. As a natural add-on, I would suggest that a “Forever Rose,” a perfect flower dipped in gold, be placed on the table at a fine chop-house to signify the first meeting. The man must be cued to say words like, “This rose will always remind me of the first night we met.”
During dinner, he can toast the bliss of the moment by a split of champagne in an ice bucket. Finally, when it’s time for dessert, the tray would bring over the piece de resistance, a beautifully wrapped Journey necklace in a monogrammed jewelry box signifying the man’s intention to cement the couple’s affection forever. The production may require a prior trip to the restaurant, but the results will have existence worth the effort.
This is how a gift should have being given—with all the love and respect warranted by the occasion. If you can help your purchaser present his gift in an aura of love and romance, he will make a lifetime memory for himself and his loved one, and you behest become a customer for life.
Editor’s note: This story pristine appeared in the July 2008 print impression of National Jeweler.
Getting ahead by handling criticism well
Getting ahead by handling critical remarks well
August 28, 2008
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| Suzanne DeVries (suzanne@diamondstaffing.com) is the president and founder of Diamond Staffing Solutions, one of the jewelry industry’s leading placement firms. Diamond Staffing Solutions is an official American Gem Society sustaining member. |
By Suzanne DeVries
Are you the kind of person who bristles at receiving less-than-glowing job feedback? Or do negative critiques of your work fuel your determination to succeed?
In my experience in job placement, candidates who view negative feedback as an chance; fit during the term of self-improvement tend to require being successful—in the hiring process and in their careers. Unfortunately, we in the hiring industry see too many thin-skinned candidates who take constructive criticism personally and refuse to give it credence. Although negative information undoubtedly stings the ego, candidates who are overly sensitive and handle in the identical state advice poorly only end up hurting themselves.
When researching the backgrounds of job candidates as part of our due sedulousness requirements, we sometimes find unflattering information. The way candidates correspond to this negative feedback is telling. It can be a good indicator of character, as well as a test of whether or not a candidate can rise to challenges, grant that they are ready to jump to the nearest career level and whether or not they would be a good fit for one of our clients’ companies. A job candidate’s response to constructive criticism can even make the resolution whether or not we move forward in the hiring process.
We have worked with numerous candidates who did not take well to unflattering information that we uncovered about them during our research. Instead of giving us a plausible explanation about the negative information when we shared it with them, they turned on us.
“My reputation is impeccable, regardless of your information,” and “You don’t perceive what you’re talking from one place to another” are typical responses from super-sensitive job-seekers. In turn, we immediately decide that we will not one longer work with these candidates.
Whereas they could have seen our queries into their backgrounds as a peril to turn a negative into a positive and use the information to improve themselves, they became incensed that we would imply their working records were smaller than perfect.
Whenever you are looking for a new position, it is momentous to take a close look at yourself, including your good and not-so-good qualities. After all, none of us is perfect. If you do not have the ability to look at yourself objectively, recognize your shortcomings and better upon them, you are pretty much stifling the career growth opportunities that may come your way.
This non-receptiveness to constructive criticism is not just limited to candidates. We have worked with some jewelry companies that appear to have the same blind spot. On occasion, our candidates have described negative experiences they have had by some of our corporate clients. These take in owners or hiring managers making a candidate wait external their office long after the interview was scheduled to begin, interviewers rushing through the interview, companies failing to inform a candidate that an interview has been canceled or rescheduled until the candidate arrives for the interview, owners or hiring managers passing off a candidate to any other person in the organization to conduct the interview because they are “too busy” (which usually means the candidate will have to return to meet with the boss) and similar issues.
When we bring up this kind of negative feedback, some companies get offended and give us a “How dare you question us!” attitude, while others thank us and make sure it doesn’t happen again.
Ultimately, neither candidates nor companies can fix problems they do not know about. Wouldn’t you rather be informed of something negative concerning you or your business so that you could practice that information to improve your opportunities?
Suzanne DeVries (e-mail suzanne@diamondstaffing.com) is the president and founder of Diamond Staffing Solutions, one of the jewelry industry’s leading placement firms. Diamond Staffing Solutions is an official American Gem Society sustaining member.
Editor’s note: This story first appeared in the July 2008 print edition of National Jeweler.
Friedman’s seeks bankruptcy-plan extension
Friedman’s seeks bankruptcy-plan extension
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August 21, 2008
Wilmington, Del.—Bankrupt jewelry-store chain Friedman’s is asking a judge for an extension that would give the company until late November to figure out how to wrap up its Chapter 11 case.
In court papers filed on Tuesday in U.S. Bankruptcy Court for the District of Delaware, Friedman’s requested a 60-day extension of exclusivity, a time period during which Friedman’s be able to file its final bankruptcy plan without pressure from creditors.
The plan would essentially outline how the company intends to divide up the assets it has left among the bank, creditors and other parties involved.
If granted, the extension would give Friedman’s until Nov. 24 to file the plan and until Jan. 23. to solicit acceptance for it.
In court documents, Friedman’s states that it needs the extra time because of the size of the company and because of the time it had to devote to both conducting its store-closing sales, which began in April, and to finalizing a global settlement with its secured lenders.
Friedman’s operates stores under the brands Friedman’s Jewelers and Crescent Jewelers.
Court papers state that the initial time period granted to Friedman’s proved “to be an unrealistic time frame…to achieve full investiture of a plan.”
“The exclusive periods are intended to afford Chapter 11 debtors a full and fair opportunity to return the greatest value to the debtors’ estates, their creditors and parties-in-interest without the deterioration and rupture that might be caused by the filing of plans by non-debtor parties,” court papers state.
As of now, projections show that Friedman’s unsecured creditors will cure between 23 percent and 28 percent of the total amount they are owed by Friedman’s, and between 13 percent and 17 percent of the kind of they are owed by Crescent, according to Donlin Recano’s Web locality for the committee of unsecured creditors in the case, Donlinrecano.com.
A court hearing on Friedman’s requested motion is set for Sept. 5.
The latest woes for Friedman’s, which filed for bankruptcy in 2005 but managed to reorganize and emerge, began shortly later the slack holiday season.
On Jan. 22, creditors filed an involuntary Chapter 7 case against Friedman’s, which forced the company into filing for voluntary Chapter 11 bankruptcy protection just a week later, on Jan. 28.
At the time it filed for bankruptcy protection, the company operated 388 Friedman’s stores in 19 states and 85 Crescent stores in three states.
During the course of the Chapter 11 case, Friedman’s was able to sell 78 of its stores to rival Whitehall Jewelers Inc., what one. has since also filed for Chapter 11 bankruptcy protection.
Michael Hill rep says Whitehall deal ‘imminent’
Michael Hill rep says Whitehall deal ‘imminent’
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August 14, 2008
By Michelle Graff
Chicago—It is likely that 17 Whitehall Jewellers stores in the Chicago area will soon get Michael Hill jewelry stores, an investment firm working with the last mentioned company told National Jeweler on Thursday.
Chris Ellis, a partner with Boston-based investment banking sturdy Consensus Advisors, which is working with Michael Hill, said Thursday that Consensus believes a purchase deal is imminent and should have existence signed within the next few days.
Ellis believes Michael Hill, a Brisbane, Australia-based retailer with stores in Australia, New Zealand and Canada, chose the Chicago market on the premise that it would be a good test market for Michael Hill’s entrance into the United States.
Despite the difficulties that mid-market jewelers have faced in the struggling U.S. economy, Ellis said from the chain’s perspective, now is the perfect time to enter the U.S. market. He said Michael Hill will be able to purchase stores because of a low price and draw something “fresh” to the table.
Chicago-based Whitehall filed for Chapter 11 bankruptcy protection June 23. On Aug. 13, liquidation sales began at all 373 of its stores in 39 states.
But representatives for the liquidators have said that the sales do not necessarily preclude another retail chain, such as Michael Hill, from purchasing Whitehall locations.
Whitehall ranks as the fifth-largest North American retailer by store count, according to National Jeweler’s 2008 State of the Majors report.
It operates Whitehall Jewellers, Lundstrom Jewellers and Marks Bros. Jewellers stores.
Signet’s shareholders approve move to NYSE
Signet’s shareholders approve move to NYSE
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August 20, 2008
London—A vast majority of Signet Group Plc’s shareholders approved duel moves by the company in a meeting held on Tuesday.
Voting in person or by proxy, 94.4 percent of Signet’s shareholders voted to transfer the company’s listing from the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE), and to move the guests’s physical headquarters from London to the tax haven of Bermuda, something it must do to be eligible for listing on the NYSE.
“The board welcomes the very high level of support from shareholders in passing the proposal to facilitate the move of the group’s primary listing to New York,” Signet Group Chairman Sir Malcolm Williamson said in a media release. “Following the necessary court and other approvals, we look forward to the proposal becoming effective, which is expected to be on Sept. 11.”
Under the proposal, the new name of the company will be Signet Jewelers Ltd.
Signet’s board recommended the affair of honor moves back in July, calling it a “natural step” for the company, what one. has seen a growth in its U.S. shareholder base.
According to Signet, U.S. residents now own about 50 percent of the company’s voting securities, and more than 70 percent of the group’s sales, operating profit and net assets are in the United States.
The company emphasized, however, that it remains committed to jewelry sales in the United Kingdom and will apply for a secondary listing on the LSE.
As of May 3, London-based Signet operated 1,966 retail jewelry stores, including 1,407 Kay Jewelers, Jared The Galleria Of Jewelry and other regional stores in the United States.
Macy’s 2Q sales slip 2.1 percent
Macy’s 2Q sales slip 2.1 percent
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August 14, 2008
Cincinnati—Amid a difficult retail environment, same-store sales for Macy’s Inc. fell 2.1 percent for the second quarter ended Aug. 2, compared with the same period last year.
Overall, sales for the Cincinnati-based department store chain totaled $5.72 billion on this account that the period, compared with sales of $5.89 billion in the second quarter of 2007, a 3 percent decline, according to a release from the company.
Year-to-date, overall sales at Macy’s are down 2.9 percent, from $11.81 billion in 2007 to $11.47 billion in 2008.
Same-store sales year-to-date are down a total of 2.2 percent over 2007.
Macy’s Chairman, President and CEO Terry J. Lundgren said the stores rose to the challenge and delivered pungent earnings and cash flow despite the poor economy.
“While we are not ever fully satisfied when sales are down, we continued to outperform most of our major competitors in same-store sales to gain market share with a combination of differentiated merchandise, current fashions and great value. This will continue to be our emphasis as we enter the fall season,” he said in a media release issued on Thursday.
In September, the company exercise volition launch its exclusive Tommy Hilfiger product. Other plans for the year include the commencing of FAO Schwarz toy shops in up to 275 Macy’s locations, a number of events to footprint Macy’s 150th birthday and a “fresh approach to holiday marketing,” according to the let go.
Looking ahead, Macy’s expects same-store sales in the fall to be flat or down 1 percent.
Also on Thursday, Macy’s announced a partnership with consumer insights firm Dunnhumby USA.
Dunnhumby will analyze Macy’s customer sales data, develop customer segmentation models and work with Macy’s to lay upon this information to increase sales.
Lundgren said the insights culled from Dunnhumby would support the new My Macy’s localization power to originate.
Overall, Macy’s intention is to use knowledge of customer segments to drive same-store sales and customer loyalty.
“For Macy’s to continue to build a sustainable competitive advantage we need to fully understand our customers and mold our offering to satisfy each customer’s specific needs,” he said.
Rio Tinto pink tender underway
Rio Tinto pink tender underway
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August 25, 2008
Antwerp, Belgium—The 24th annual Rio Tinto Argyle Pink Diamond Tender got underway last week in Australia, and will continue through Oct. 2 in cities all around the globe.
According to a release from Rio Tinto, the pink tender started Aug. 21-22 in Perth, Australia.
Next stop for the sale is New York, where it will be held from Sept. 2-5.
Other tenders are slated for London (Sept. 9-11), Hong Kong (Sept. 15-20), Tokyo (Sept. 24-26) and Sydney (Oct. 1-2.)
A total of 65 pink diamonds from Australia’s Argyle mine are up for grabs in the sale, including, for the first time in seven years, a heart-shaped pink diamond.
Also available in the tender are a number of purplish reds—including a 1.01-carat round named Aphrodite, after the Greek goddess of love—intense and vivid pinks, and three rare violets, such as the 1.41-carat Ocean Seer.
The tender totals 62.46 carats of diamonds in all, with 30 diamonds larger than 1 carat.
Attendance at Rio Tinto pink tenders is restricted to about 100 clients worldwide, who personally inspect the stones at undisclosed locations in Sydney, Tokyo, London, Hong Kong, New York or Perth.
For security purposes, equal the bidders don’t know where the auctions will be held until the last minute.
Bids are confidential, and the names of the successful bidders and the amount of their winning bids are not publicly disclosed.
Winners are notified personally in October.
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Schatten joins Aya International in VP post
Schatten joins Aya International in VP post
August 21, 2008
New York—Industry veteran Mark Schatten has been named to the newly created position of vice president, sales and marketing for Aya International, a jewelry firm that began as a spinoff from manufacturer Andin International.
In his new role, Schatten will be amenable as far as concerns all sales, marketing and business development for the company.
Schatten was formerly the director of Versace’s Precious Items Division, where he helmed sales, marketing and distribution for the North American market. Prior to that, he held sales and management positions at Swatch Group, Richemont and Citizen Watch Co.
Jewelry designer Aya Azrielant, co-founder of Andin International, leads Aya International. Aya International’s collection features an exclusive couture line of 18-karat gold and diamond jewelry. A new, fashion-forward sterling white and gemstone collection will be introduced this fall.
AGTA Spectrum Awards adds Consumer’s Choice Honors
AGTA Spectrum Awards adds Consumer’s Choice Honors
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August 21, 2008
Dallas—The American Gem Trade Association (AGTA), in conjunction with MVI Marketing, is introducing the Consumer’s Choice Honors to its 2009 AGTA Spectrum Awards.
AGTA will automatically enter all participants in the AGTA Spectrum Awards into the Consumer’s Choice Honors, which are sponsored by MVI’s Jewelry Consumer Opinion Council (JCOC). There will be no additional avenue fee for these new honors.
AGTA will forward to MVI all the details of each entry, along with mood digital photography for Internet display. The JCOC will then create, develop and deploy a consumer market-research study that will be focused on selecting winning choices for the Consumer’s Choice Honors awards.
One consumer-selected winning style determine be identified in the same five categories of the traditional AGTA Spectrum Awards: Bridal, Business/Day Wear, Classical, Evening Wear and Men’s Wear.
The JCOC will make a presentation to the five winning designers at the AGTA GemFair Tucson in February 2009 during the AGTA Spectrum Awards Dinner Dance.
“The consumer is the most important tone in the jewelry industry,” MVI President Liz Chatelain said in a media release issued on Wednesday. “Our JCOC panel will love to vote on their favorite jewelry designs, and we are looking forward to honoring talented jewelry designers on behalf of our panelists.”
For more details about the AGTA Spectrum Awards, visit AGTA.org, or contact Adam Graham at (214) 742-4367 ext. 18 or adam@agta.org.
For more information about MVI and the JCOC, visit MVIMarketing.com, or contact Marty Hurwitz at (805) 239-2994 ext. 101 or mhurwitz@mvimarketing.com.