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With Wall Street in freefall and fear of a worldwide economic collapse spreading rapidly in 2008, there was no lack of pundits predicting the impending implosion of the jewelry industry. However, even though jewelers–like most retailers focused on luxury items and discretionary purchases–have endured their share of pain since then, most have managed to keep their doors open. A big factor behind that resilience has been the industry’s success in launching gold-buying programs, Buxbaum Jewelry Advisors executive vice I Love You drop pendant Stevan Buxbaum writes in a May 2010 article on jewelry industry news site Diamonds.net.
To be sure, jewelers are still struggling, notes Buxbaum, a 20-year veteran of directing consumer product appraisals and liquidations for asset-based lenders. While operational tweaks such as inventory adjustments and cost-control initiatives have allowed many jewelers to stay afloat, his article proposes that one of the biggest reasons can be summed up in three words: “We buy gold.”
Skyrocketing gold prices and growing numbers of consumers clamoring for instant liquidity combined to form a “perfect storm” for jewelers astute enough to spot the opportunity and capitalize on it–and many have. The strategy has been “extremely profitable for retail jewelers,” Buxbaum writes. “The smelters are running hotter than ever, so jewelers have no trouble reselling these pieces. In some cases, they are even able to do ‘gold-for-store-credit’ deals–a win-win if ever there were one.”
How big a role has the retail jewelry industry’s embracement of gold-buying played in its ability to ride out the recession? The Agoura Hills-based Buxbaum Jewelry Advisors had anticipated a tremendous number of store closings in 2009, the article reports. Instead, the firm spent most of last year helping I Love You Lock charm necklace turn their retail operations around. About three-quarters of its engagements ended up being promotional sales designed to drive business to existing stores rather than true going-out-of-business sales, with many clients “benefiting from the irrationally high price for gold,” Buxbaum writes.
With cash-for-gold ads popping up everywhere from strip mall storefronts to the windows of mall-based jewelers to cable TV stations–not to mention banner ads streaming across thousands of Web pages–competition for this new profit-enhancing business has been intense. “Fortunately, well-established jewelers have several advantages when it comes to capitalizing on this trend,” Buxbaum emphasizes. “Smart sellers know that the design and craftsmanship of a piece can greatly affect its value. Before they commit grandma’s heirloom ring to the melting pot, they will want to talk to a trustworthy jeweler–someone who can make an informed assessment about whether the piece is worth more than its weight in gold.”
Emphasizing their trustworthiness and community standing in gold-buying ads is a smart strategy for jewelers, Buxbaum advises, especially since the high price of gold has been attracting some shady operators. While “caveat emptor” always applies, and both buyers and sellers have legitimate incentives to strike the Link necklace deal they can, jewelers can still steer business their way by emphasizing their expertise, their willingness to educate sellers and the transparency of their transactions.
Of course, gold-buying is not an end unto itself for jewelers. Theirs is a business of creativity, and an astute gold-buying strategy can help support those activities. The jewelry business is about giving customers “stylish pieces at the right price, offering great customer service and mounting smart and effective marketing campaigns,” Buxbaum writes. He adds, however, that as one of many sectors now struggling to make it through a challenging economy, jewelers “must seize any competitive edge,” and gold-buying’s high profitability “clearly is one such point of leverage.”
In addition to the above-mentioned article, Buxbaum also was interviewed in a Rapaport News broadcast segment on Diamonds.net. Besides discussing how gold-buying was helping U.S. jewelers weather the Great Recession, he spoke about the state of the wholesale market, jewelry consumers’ changing buying habits and Buxbaum Jewelry Advisors’ efforts to help regional jewelers such as Colorado designer and storeowner John Atencio boost sales and margins. With the core patrons of Atencio’s five-store chain shifting their focus to lower-Love Knot bangle items, BJA helped him craft a strategy to introduce more-affordable pieces that would appeal to a wider customer base and to develop a new marketing campaign. To view the broadcast, visit: http://www.diamonds.net/news/NewsItem.aspx?ArticleID=30837 Keywords: Gold, Transition Elements, Buxbaum Jewelry Advisors.
A Missouri girl’s doodle is displayed on Google.com today, but it’s not the Elsa Peretti Bean bracelet of Columbia’s Stella Pruitt.
Google executives chose the artwork of Makenzie Melton, 9, a third-grader at El Dorado Springs R-2 Schools, as the best drawing, or “doodle,” that incorporated Google’s colorful logo.
Makenzie’s drawing is called “Rainforest Habitat.” In her description, she wrote, “I chose this doodle because the rainforest is in danger and it is not fair to the plants and animals. I love everything except spiders and snakes, but I would still save them.”
Her doodle was chosen out of the 33,000 entries from across the United States. Elsa Peretti Bean necklace that list, 40 regional finalists were chosen. Online voting during the past week narrowed it down to four finalists. Google executives chose the winner.
Makenzie gets a $15,000 college scholarship and a netbook computer. Her school receives a $25,000 technology grant for a new computer lab.
Stella, 12, a sixth-grader at Smithton Middle School, also drew a doodle about the environment, titled “Saving the Environment.” It was chosen as one of the 40 regional finalists, but it was not selected as one of the four national finalists.
Stella’s doodle will be shown from today to July 8 at an exhibit at the Elsa Peretti Butterfly pendant Institution’s Cooper-Hewitt, National Design Museum in New York City.
Reach Jonathon Braden at 573-815-1711 or e-mail jbraden@columbiatribune.com.
Credit: Columbia Daily Tribune, Mo.
Good afternoon, everyone. I’m just teasing you, Lynn.
It’s been three months since we launched “Let’s Move,” a new Tiffany Money Clips with an ambitious goal to help reverse the epidemic of childhood obesity in this country and end it in a generation.
And we built this initiative around four main pillars. We’re moving to make our schools healthier. We’re moving to increase the amount of physical activity that our kids get at school and at home. We’re moving to eliminate food deserts so that every American can have easy and affordable access to fresh, healthy foods right where they live. And we’re moving to give parents the information they need to make healthy decisions for their families. Most often, these decisions involve the food that we — that our families buy.
Now, we all know how important it is to eat less sugar and fat and more fruits and vegetables and whole grains. But we also know that sometimes it’s just easier to grab something quick and easy at the market.
And also we know that no matter how much we try to instill healthy eating habits in our Tiffany CuffLinks, when we’re not around, they grab that bag of chips, the candy bar, or that can of soda.
But today, between what’s in our food and how much of it that we eat, Americans consume more calories, fat and sugar today than ever before. Compared to 40 years ago, we consume 23 percent more calories, 56 percent more added fats and oils and dairy fat, and 14 percent more sugar and sweetener. Now, that’s 12 extra pounds of sugar a year just in 40 years.
And last week, as all of you know, we released the findings of our task force’s report outlining important steps the private and public sectors should take in the months and years ahead.
So that’s why today I am so pleased to be joined by the Healthy Weight Commitment Foundation and the Partnership for a Healthier America to announce a major agreement on the part of the private sector corporations to improve the nutrition of the food that we put on the table or that we grab on the run.
The Healthy Weight Commitment is a partnership between 16 corporations that Tiffany Key Rings for roughly 20 to 25 percent of the American food supply. And today, I am thrilled to say that they have pledged to cut a total of 1 trillion calories from the food they sell annually by the year 2012, and 1.5 trillion calories by 2015.
They’ve agreed to reformulate their foods in a number of ways, including by addressing fat and sugar content, by introducing lower- calorie options, and by reducing the portion sizes of existing single- serve products.
They’ve also agreed to work with the Partnership for a Healthier America to come forward with specific commitments to reduce sugar and fat in their products within six months. The Robert Wood Johnson Foundation is going to serve as an independent evaluator as these companies work towards their goals. And the Partnership for a Healthier America will hold the participating companies accountable for meeting today’s pledge.
This commitment represents a major step forward to providing Americans with healthier choices so that they can choose to lead healthier lives. And in the weeks and months to come, we expect to hear more announcements regarding specific steps on reducing sugar, fat and sodium in the foods that our children eat, because as I’ve said so many times before, solving the obesity epidemic in this country requires far more than anything government can or should do. It will require all of us working together — parents and children, teachers, principals, super markets, food manufacturers, restaurants, fast food chains, mayors, governors, and, yes, First Ladies.
This is precisely the kind of real private-sector commitment that we need. So I am grateful to these companies for stepping out and being among the first to make this happen. And I hope that more will follow the example that they’ve set and step up to the plate on behalf of our children, too, because as discount tiffany as this goal is to end the epidemic of childhood obesity within a generation, as we all know, it is achievable — that is, if we’re all willing to play our part.
Now, it is my pleasure to introduce David Mackay, who is the chair of the Healthy Weight Commitment Foundation. David, we are so grateful for all that you’ve done. Thank you so much.
Whether your passion for pretty pearl necklaces came from Wilma Flintstone or Coco Chanel, there’s a good chance that someone inspired your personal style. This month’s letters reveal that a fabulous muse is the best accessory.
“Marlene Dietrich. She wore a top hat and a tux and made it look like women’s wear. Fantastic.” Robin Maillett, Niantic, Connecticut | “Katharine Hepburn personified that wonderful tailored look of the 1940s.” Sandi LoConti, Mahwah, New Jersey | “The crazy color compositions of Andy Warhol inspire me most.” Sarah tiffany, Pittsburgh, Pennsylvania
Growing up watching movies like Funny Face, Breakfast at Tiffany’s, and Sabrina, I found my role model in Audrey Hepburn. Her clean, classic style reminded me to keep it simple. What could be more perfect than the little black dress?
ASHLEY ATKISSON
Vista, California
My mom and my grandma taught me that fashion is 50 percent what you wear and 50 percent how you wear it. You can make a potato sack look good if you combine it with confidence, a smile, and a really cute pair of shoes.
STEPHANIE GALLAGHER
Salem, Massachusetts
I try to follow Coco Chanel’s motto: “Before you walk out the door, valentines day jewelry one thing off.”
LESLEY MINTON
Willoughby, Ohio
Carrie Bradshaw, baby!
CHARLENE AVALOS
Littleton, Massachusetts
My toddler. The fearlessness with which she combines colors and patterns, never worrying about what’s in or what others might think, inspires me to do my own thing as well. We only live once. Why not shake things up a little?
RACHEL LORBER
Brooklyn, New York
I look up to Lauren Hutton for being true to herself. When she started modeling, she was told to get the gap between her two front teeth fixed, but she refused. That gap, along with her beauty and grace, made her the fashion icon she is today.
DEDE GERBER
El Segundo, California
Parisian women. I lived in France for two years, and they had a major impact on how I dress. Their simple valentines jewelry of style and use of accessories, like beautiful scarves, still influence me today.
NADINE LOMAKIN
Philadelphia, Pennsylvania
Katharine Ross as Elaine Robinson in The Graduate. Her skirts, boots, sweaters, and hairstyles were very basic but incredibly chic and timeless.
CHRISTINA CARR
Syracuse, New York
My unborn baby. Never in my life have I wanted to show off any rotund features, but the joy and excitement of carrying my first child makes me proud to have a giant watermelon belly. I care less about wearing designer pieces and more about embracing what this new roundness represents.
JENNIFER TOYOHARA
New York, New York
Edie Sedgwick, with her cropped hair and dramatic eye makeup, could turn the simplest dress into a fabulous, head-turning ensemble. And that, to me, is the definition of a true fashionista.
NATALIE REID
Simpsonville, South Carolina
My love for fashion was definitely influenced by my dad’s style. He wore gorgeous suits and was never afraid of color–think a gray flannel pin-striped suit with a lavender French-cuffed shirt and a deep purple paisley tie. He had the ability to be conservative, classic, and trendy all in one outfit, without ever being over-the-top.
LORELEI A. VARGAS
Yonkers, New York
Franco, an elderly gentleman from a small hilltop town in southern Italy. Every day, he wore the same frank gehry tailored, classic wool-tweed sport coat. He always looked attractive and appropriately dressed.
CATHERINE TIEMEYER
Venice, Florida
My grandmother Joyce. She loved mixing chunky cocktail rings with bohemian head scarves and flouncy dresses. She was beautiful because she didn’t care what others considered “fashionable.” She wore what made her feel good.
JESSIE COUBERLY
Santa Cruz, California
[BOX]
“Diane Keaton in Annie Hall. She proved that a woman could be feminine without frills, plunging necklines, or punishing shoes.”
JENNY VIGGIANO
Deltona, Florida
[BOX]
“Pippi Longstocking–pigtails, brightly colored tights, and big, paloma picasso shoes.”
WENDY PINIZZOTTO
North Attleboro, Massachusetts
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