The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
Fortunoff brings back brick-and-mortar model
Half a century after it opened the doors to its Long Island flagship, Fortunoff Fine Jewelers is returning to the area with the launch of a Westbury store as it takes its business from the Internet to brick-and-mortar.
The store, for which a soft launch has already been held, will officially open Sept. 18.
The 1,900-square-foot location will offer more than 15 showcases of jewelry for women, children and men, offering pieces from new, local designers, styles from international designers and brands, and a selection of vintage jewelry. Prices vary extensively, according to the company, ranging from $50 to $50,000.
The reintroduction of a physical presence for Fortunoff Fine Jewelry is being led by Esther Fortunoff, who is the granddaughter of Max and Clara Fortunoff, founders of the original chain of stores. She started her 30-year career at Fortunoff as a teenager and now serves as the executive vice president of the company’s fine jewelry division.
Fortunoff told National Jeweler that the company is returning to brick-and-mortar jewelry retail after hearing feedback from the consumers that they wanted a place where they could physically try on the jewelry before purchasing.
“It’s really great to get to meet the clients face to face and see the smile on their face when they put on the jewelry,” Fortunoff said, noting that the response has already been strong. “Our customers were clamoring for us to come back to a store, saying that the e-commerce wasn’t good enough.”
She also added that while no other family members currently are involved with the fine jewelry retail store, 16 out of the 18 employees that currently are working there were former employees.
The Fortunoff brand was founded in 1922 as a Brooklyn housewares store which eventually grew to eight shops. In 1957, the family introduced watches and fine jewelry to the business, leading it to become a well-known jewelry retailer and open its store in Westbury, Long Island, in 1964. In 2001, the brand expanded to include the Fortunoff Backyard Store concept.
In 2005, however, the Fortunoff and Mayrock families sold their majority interest in the business to two private equity firms, which applied for Chapter 11 bankruptcy three years later and again sold to another private equity firm.
The Fortunoff family re-acquired the intellectual property of
“It’s a very big step for me to go back to brick-and-mortar from e-commerce,” Fortunoff said. “We’re going to use this opportunity to learn what customers like and want, and to see what’s cutting-edge and new in the market.”
The Latest
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Despite the rising prices, consumers continue to seek out the precious metal.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.