Jack Lewis Fine Jewelers

Bloomington, Illinois

RETIREMENT & OWNERSHIP TRANSITION EVENT

 

Jack Lewis founded the store that carries his name in 1927. He started as a “technical watchmaker,” serving railroad executives and conductors as well as Bloomington’s affluent clientele, who eventually became the emerging fine jeweler’s core customers. Later, the Jack Lewis brand would become synonymous with skilled jewelers and quality diamonds, earning the company membership in the American Gem Society (AGS).

John Wohlwend, a Jack Lewis employee since high school, became the company’s second-generation owner. John continually adapted the business to sustain growth and meet the luxury customers’ demand for new product, high value, and excellent service. Today, the firm specializes in quality diamonds and gemstones, fine bridal jewelry, prestige Swiss watch brands, and branded designer jewelry. In addition to bringing his passion for jewelry to the Jack Lewis brand, John made his personal commitment to community service a core value of the business by supporting numerous humanitarian organizations.

With John Wohlwend’s decision to retire, he partnered with The Gordon Company to plan the sale of the business to his protégé and second-in-command, John Carter. To complete the sale, it was necessary to sell unproductive and aged inventory to fund new merchandise purchases and support future growth.

The Gordon Company Assignment and Scope of Work:

• Facilitate the sale of Jack Lewis Fine Jewelers and John Wohlwend’s retirement
• Raise cash for new merchandise purchases and subsequent sales growth
• Maximize cash generation while maintaining the support of the supplier community
• Protect, maintain, and even build the Jack Lewis brand name as Bloomington’s leading luxury jeweler
• Develop a retirement/transition sale plan to sustain the company’s profitability
• Prepare an integrated sales plan, including a sales and advertising strategy subject to supplier advertising limitations
• Recommend an optimum pricing strategy for aged and underperforming inventory to maximize cash flow

The Gordon Company Solution and Accomplishments:

• The firm’s iconic, high-quality jewelry position within the market was upheld
• The standards in adhering to AGS “Ethical Business Practices” and high-profile brand advertising guidelines were met
• The return on non-productive and aged inventory was maximized
• The successful sale of the business to John Carter was consummated

“The Gordon Company was selected because of their vast experience and professionalism, their ability to offer an event such as this without denigrating the history and legacy of the company, and their track record of producing outstanding results, which they did. I did my homework and we all got A’s.” -John Wohlwend