Tivol Jwelers
Kansas City, Missouri
STRATEGIC STORE CLOSING EVENT
Located in Kansas City, TIVOL was founded by Charles Tivol in 1910. His fine jewelry skills, business abilities, attention to his customers, and relentless focus on high standards, enabled TIVOL to grow throughout the first half of the 20th Century. After his military service, Harold Tivol joined the business in 1946. A student of GIA, Harold brought a second generation of technical expertise and business savvy to the business, leading to store expansion and sales growth. TIVOL is currently led by the family’s third generation, Cathy Tivol, who joined the business in 1978. Today, the company continues to sell high quality designer diamond jewelry, as well as many notable Swiss watch brands.
The Gordon Company Assignment and Scope of Work:
The mall development at Briarcliff Village never matured as projected. The Gordon Company was asked to assist TIVOL management to:
- Close the Briarcliff Village store and transition customers to Country Club Plaza
- Liquidate approximately $3.5 million of excess inventory and maximize recovery value
- Mitigate the potential adverse impact of the inventory liquidation on the TIVOL brand
- Increase awareness of the brand and adapt marketing strategies to support the operation
- Recommend incremental pricing strategy to maximize cash flow from the sale
- Produce, deliver, and implement new and innovative in store collateral print material
- Manage, analyze, and control the sale, and react to changes in local market conditions
- Prepare reports that compared actual sales to budget, discounts, and margins
- Deal with contractual marketing agreements with designer and Swiss watch brands
The Gordon Company Solution and Accomplishments:
- Developed an event plan linked to sales, product sales by department, margin, expense, and cash flow projections
- Designed and implemented a custom marketing and media plan to conduct a sale that was compatible with the company’s marketing and public relations programs
- Provided productive supplemental merchandise to drive incremental event sales
- Exceeded original sales projections, surpassing the inventory liquidation goals, without negatively affecting the sales in the TIVOL non-sale stores
- Outperformed the company’s net income expectations and surpassed the projected return on excess inventory sold
- Expanded the company’s customer base, increasing the direct mail and email lists
“Closing a store is never easy, but The Gordon Company helped make the process successful and gratifying. They provided a tremendous service and we could not have achieved the same results without their assistance. Our goals were not just met, but exceeded.” – Cathy Tivol
