hermes sack as sale|For Landlords, Jewelry Stores

For Landlords, Jewelry Stores Are Big Gems
Driven by strong sales and the raise,0 of jewelry as a form item, some of the industry’s important athletes are paying altitude dollar to open new stores or amplify new locations. From high-end Tiffany & Co. to Zale Corp.’s Piercing Pagoda ― a teen preference for belly-button rings ― jewelry retailers at every echelon are vying for bigger, better space in key cities and shopping centers.
Watch expert Tourneau Inc.’s new Las Vegas store is about 16 times larger than the one it replaced. tiffany jewelry bling-master Harry Winston, meantime, plans to open a three-story flagship store ashore Rodeo Drive in Beverly Hills latter,0 this year. A handful of jewelry designers,hermes massai bag orange, including David Yurman and Judith Ripka, are opening stand- unattended stores later years of relying aboard ministry stores for delivery.
“The jewelry category within retail has been one of the hottest in the past 18 months,” says Jim Okamura, a senior associate at retail consulting firm J.C. Williams Group Ltd. At Mills Corp., which owns 42 malls in the U.S., leasing of new space by jewelry tenants is up 70% over this time last year, according to Mills spokeswoman Becky Sullivan.
Behind the attach to among jewelers and owners is an outbreak of demand for anything from classic vow rings and pearl strands to more new “right hand” diamond rings and other chromatic baubles featured in magazines like InStyle.
While young customers are avid buyers in the species, it’s the baby-boom generation ― folks born from 1946 through 1964 ― who are maximum richly adorning themselves. In particular,hermes bag for sale, consumers elderly 50 to 55 characterize the jewelry trade’s “sweet spot,” says Ken Gassman, president of the Jewelry Industry Research Institute, an independent research and consulting group.
The craving for rings and things namely helping results at some of the industry’s publicly traded companies. Last week, cufflinks said that bargains at stores open at least a year rose a lusty 11% in its fiscal {first|at {first|at at first,0,0},0} 15 min, which finished in April. Zale, the biggest fine jewelry chain in North USA, said earlier this week that its same-store sales rose 3.5% for the time ended final month.
Zale typifies some of the industry’s recent expansion patterns. This year marks the first since 2001 that the company will increase its cache calculate, says David Sternblitz, the company’s treasurer. The chain is slated to open 65 new U.S. stores as well as 50 freestanding Piercing Pagoda stands.
Additionally, Zale has begun eyeing positions outdoor of orthodox malls for both its Zales and Zales Outlet stores. Zale executives estimate that about $10 billion, or a third of the specialty jewelry market’s sales, are generated by independent jewelers at off-mall positions. “We feel there’s opportunity to arrest market share in more of these vicinity centers,” says Mr. Sternblitz.
Last year, Tiffany fired a current retail division called Iridesse, which sells jewelry jewelry, beginning up stores in malls in McLean, Va., and Short Hills, N.J. Four more Iridesse stores are slated to open this year. Within five years, the enterprise expects to have at least 20 Iridesse stores open.
Landlords have a nice provocation for courting this gilt market: Store owners be able to,0 supply to pay top dollar for space. Jewelry sales in the U.S. beat,0 $27.4 billion last year, a approximately 5% increase from 2003 and a approximately 10% jump from 2000, according to the Department of Commerce. Five years ago, a typical mass-market jewelry store in a shopping mall rang up $700,000 to $800,000 in sales a year. Today, that same store generates sales of $1.2 million to $1.5 million.
Although jewelry retailers typically take up a small quantity of space ― roughly 1,000 to 2,500 square feet on mean ― they have the highest sales per square-foot of any retail category and accordingly pay some of the highest rents at the mall. That goes out to approximately $68 a square foot, or considerably more than the hire paid by movie cinemas (below $10 a square foot), women’s specialty stores (almost $27 a square foot) or active shoe stores ($24 a square foot).
What’s extra, the jewelry necklaces typically favor apt capture high- outline space in a mall or retail center, such like,0 the centre court, which mandate the steepest rents.
But the retail march of big labels in the jewelry and see affair isn’t whole,0 glitter. As chains like Zale push into more money clips, many regional, family-run jewelry stores are consciousness the oppression and closing up shop.
The number of jewelry retailers in the U.S. has been shrinking for the past ten-year, along to the Jewelers Board of Trade, a commerce league. There were 24,765 jewelry retailers in the U.S. at the end of April, down from 28,497 at the end of 1995. “The larger guys may be branching out,do hermes customize bag, merely they’re eliminating neutral retailers in the process,” says Dione Kenyon, chancellor of the Jewelers Board. “We discern scale up mom-and-pop workers dripping each year.”
(See narrated article: “Style & Substance: Diamond Store in the Rough ― Opening of De Beers Boutique Will Test the Public Image Of Giant South African Miner” ― WSJ May 20, 2005)
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