Month: April 2022

Watch Our Case Study Video Below To Hear Directly from the Koll’s!

Charles Koll jewellers had its origin in South Africa and has been serving the fine jewelry needs of the greater San Diego community since 1961. Custom design and hand fabrication are not just part of what they do; it is what they do. Located for years in the Fashion Valley Mall in San Diego, it was time to move the business to an expansive, free-standing building in nearby Sorrento Valley.

The Koll family used this store closing as an opportunity to run a major sale with The Gordon Company to eliminate aged and underperforming inventory and to be able to start fresh in the new location. It was also a way to raise the cash necessary to fund both the move and buildout of the new space and to launch its major reopening.

According to owner, Malcolm Koll, “We chose The Gordon Company based on their vast experience in the field and on the referrals we received from other jewelers who had run sales with them. We were told they would uphold our long-term values and pristine image, and that’s exactly what The Gordon Company did.”

This Store Closing sale event was a huge success: 

• Total sales were two times the original projection and 4.55 times greater than the same period the year before. 

• 64% of the Koll family’s original cost inventory was sold during the sale while also achieving healthy, above-expected margins. 

The average daily sales ticket increased 2.37 times during the sale. 

• Nearly 4,000 people came through the door during the 81-day sale with 2,093 total tickets written. 

• Over a year’s worth of business was done in only 11 weeks. If you are considering a store closing, relocation, renovation, or any other strategic sale event, contact us for advice and a free, no-obligation consultation. We look forward to serving you. 

“The Gordon Company provided us with two quality people who managed and supervised the entire sale process. I’ve never worked with people who put in the kind of effort that they did every day. This was a strong reason why we were so successful.” – Malcolm Koll

Sincerely,

Jeff Gordon, CEO

Let’s be honest.  The COVID pandemic ultimately and ironically had a positive economic impact on the jewelry industry.  2021 was the best year in most jewelers’ history, but 2022 has begun with significant uncertainty.  Inflation, stock market jitters, rising oil prices, and the Russian invasion of Ukraine have created anything but assurance that this year will repeat last year’s success.

What we have right now is significant uncertainty.  This unsettles the economy as a whole and has a definite impact on consumer spending.  The impact on luxury goods spending is particularly concerning.  Every business owner must be mindful of the attitudes of consumers.  Stock market decreases make people cautious, yet consumers need to be in a good mood to buy.  Look no further than your own personal concerns about the state of the market, and you’ll understand the problem.

The key is to have a business plan to deal with this uncertainty.  Without a plan, or at least options to consider, fear takes the place of uncertainty, and that is not where you want to be.  Every business owner needs either a good succession plan or a solid exit strategy.  One important option to consider is a high-impact sale event that will clear out aged inventory, increase cash flow, draw new customers to your store and add to your mailing list, and eliminate uncertainty about your success this year.

Whether you are ready to retire, or want to secure your business in 2022, we can help you.  Even if you just need to think this through, give us a call or drop us a line.  We’d love to assist in your planning and provide the assurance you need.

Sincerely,

Jeff Gordon, CEO