Gleim the Jeweler
Palo Alto, California
STRATEGIC STORE CLOSING EVENT
Founded during the Great Depression, Gleim the Jeweler was opened in 1931, in Palo Alto, CA. Three generations later, the prestigious jewelry company still operates as a family business under the leadership of Georgie Gleim, who is also a past president of the American Gem Society (AGS) and received their coveted Robert M. Shipley Award.
Today, the company continues to operate as an AGS jeweler, selling fine diamonds, diamond jewelry and distinguished Swiss watch brands as well as estate jewelry. Additionally, Gleim The Jeweler offers gemological technical services through the company’s accredited AGS gem laboratory.
Georgie Gleim made the difficult decision to close the founder’s original store located on University Avenue in Palo Alto, CA because of declining downtown traffic due to changing demographics and asked The Gordon Company to assist them with the store closing.
“The Gordon Company started with a sales plan that was many times higher than our store had ever done before. When the closing sale was over, we had nearly doubled that significant goal.” – George Gliem
The Gordon Company Assignment and Scope of Work:
- Assist the company’s management team to close the downtown University Street store
- Liquidate excess, duplicated, and slow-moving fine jewelry and watches from the company’s three stores
- Maximize the recovery value of the merchandise sold during the sale
- Minimize the impact of the store closing and liquidation sale on the brand image and values of Gleim The Jeweler
- Provide a sales management and supervisory team to oversee the project
- Design and develop a one-of-a-kind marketing and advertising strategy
- Establish a pricing strategy to optimize the return on investment of sold inventory
- Develop reports for projected sales, volume estimates, average discounts, margin rates, expenses, and income
- Design, produce, and deliver in-store communications collateral, print, and where appropriate, other creative materials for local use in the Stanford and Palo Alto markets
The Gordon Company Solution and Accomplishments:
- Exceeded original sales projections by 200%
- Surpassed net sales for the event by 170% of the volume of the store’s entire previous year
- Expanded the customer base for the flagship store while continuing to target the high-end consumer with the quality and service known by Gleim in the community
“We made the right decision in choosing The Gordon Company to manage our store closing for us. I definitely would use them again.” – Georgie Gliem
