MONTH IN REVIEW
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SALES
Signet Jewelers
sales ‘fall short’
over Christmas
Diamond jewellery retailer Signet
Jewelers has reported a 1.3% decrease
in total same store sales for the nine
week period ending 5 January.
According to the group, holiday
season performance “fell short of
expectations”, as early improvements
in refreshed merchandise assortment,
digital marketing and OmniChannel
were offset by “larger than expected
declines in legacy product lines”.
The competitive promotional
environment it saw early in the season
intensified in December and, despite
its increased promotional investments,
the group experienced reduced traffic
during key December gifting weeks.
David Bouffard, vice president,
corporate affairs at Signet Jewelers,
said: “These holiday results reinforce
the need to take even faster action to
improve our financial and operational
performance.
“We will move decisively to improve
profitability through aggressively
optimizing our cost structure and
continuing to right-size our store base,
as well as more effectively managing
our inventory.”
QUOTE OF
THE MONTH
“...retailers face rising business
rates, national minimum wage
increases and a paradigm shift
in the retail landscape. This has
impacted most retailers and
as a result of trading losses,
Chapelle could no longer meet
its ongoing liabilities.”
That’s what Jimmy Saunders, director
at accountancy firm Duff & Phelps, said
about the announcement of Chapelle
entering administration, four years after
it was sold to HMV owners Hilco UK.
February 2019 | jewelleryfocus.co.uk
COLLECTIONS
Domino
Jewellery
launches new
wedding band
range
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The price of gold
decreased by
£9
to £979/oz in January
VALENTINE’S DAY
Domino Jewellery has launched its
2019 wedding rings collection, which
features “new styles” within plain
bands, diamond set, shaped, decorative,
finishing touches and signet rings.
The new collection features three
new delicate diamond set styles, five
new plain profiles, 22 new shaped and
decorative designs, 12 new finishing-
touch styles and three new signet rings,
aimed at both men and women.
The group said that all profiles across
Domino’s plain wedding rings are
now available in all depths, including
light, medium and heavy, and has also
increased its stock holding, with all
stock items available within 24 to 48
hours.
Sales director Andrew Sollitt said:
“We canvassed a wide selection of
retailers, listening to what we could do
to support their sales and how we could
help them generate additional growth.
Our main objective with our wedding
ring range is to ensure that we provide
retailers with a full service offering.”
Naomi Newton-Sherlock, creative
director, added: “We anticipate strong
sales for our customers from this new
wedding rings range. The changes that
we have made internally, not just to
the ranges, but also to the way that we
work are starting to really add value to
our customers’ experience.
“The new stronger link between the
creative and marketing team has meant
that we have really focused on how we
help retailers tell and sell the story of
these beautiful pieces.”
Bea Jareno
announces pop-
up Valentine’s
Daywork
workshop
South Wimbledon-based independent
jewellery brand Bea Jareno is
launching a pop-up store for
Valentine’s Day at West Brompton
Crossing on Lillie Road.
According to the group, as well as
offering the company’s own products,
Bea Jareno will invite a select group of
ceramic artists so their goods can also
be displayed and sold on site.
Bea Jareno has been making its
jewellery and crafts for nearly 15
years, inspired by African and Indian
cultures. All pieces are handmade at
the company’s London studio using
“traditional techniques”.
Founder Bea Jareno said: “This pop-
up will run from January 23 January
until 4 February, so could be ideal if
you’re looking for a Valentine’s Day gift.
So please come and join us.
“We have made sure that the visiting
artists share our values of Fair Trade
and ethically sourced gemstones
and beads, as well as our passion for
design, creativity and craftsmanship.
We believe in sourcing locally and love
celebrating colour and texture.”
He added: “In just three hours, you
can learn all the basics of traditional
jewellery-making and leave with a
beautiful ring. A workshop could be the
perfect Valentine’s Day gift. What could
be more romantic than the chance to
design our own wedding rings together?”
JEWELLERY FOCUS
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