Shelle Jewelers

Northbrook, IL

INVENTORY REDUCTION & CASH RAISING EVENT

 

Shelle Jewelers, Inc. opened in 1951 at 5 South Wabash, the center of the jewelry industry in Chicago. The founder was the late Sheldon M. Millman, who dreamed of having a jewelry store where the finest and most knowledgeable master craftsmen worked to create custom-designed jewels. And they did. After a few moves, the Millman family settled on a free-standing building at 322 Skokie Blvd in Northbrook, which offers tremendous exposure on a very busy street. The family continues to build on the original Millman dream, offering a full-service jewelry store with superior products and exceptional customer service.

As is typical for most fine jewelers, inventory holdings had become bloated, and the business needed to seriously reduce its aged and underperforming merchandise. The store was being renovated, so it seemed like a perfect time to run a sale event, raise some significant cash, and simultaneously liquidate unwanted merchandise. Sheldon’s son, Manny, and grandson, Brian, contacted The Gordon Company to conduct their sale.

“When The Gordon Company told me that I had to follow their formula, I thought there was no way I could do it. Then, when they told me how much they projected the store to do and how much money I would make, I thought they were crazy. After the fact, I realize that they are in the business because they’re experts, and the results of my sale were remarkable.“ – Manny Millman

The Primary Gordon Company Goals:

• Liquidate and monetize the highest possible percentage of aged inventory
• Generate enough cash to handle the store renovation, pay off current debt, and re-merchandise product

“Never in our history did we have a line at our door waiting for the store to open. In the first two days of our sale, we moved several of our oldest items. One was a necklace that was 12 years old!“ – Brian Millman

Results Achieved:

• 42% of the purchases during the sale were from new customers
• Total actual sales were 150% of the projected amount
• Actual sales of the client’s owned inventory was 232% of the projected amount
• Gross margin on goods greatly exceeded projections
• Sales during the 62-day event were more than four times greater than for the same time period the previous year

“The Gordon Company delivered on everything they promised. They were there for us throughout the sale and were truly dedicated to our store and our success.“ -Brian Millman