The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.
5 questions with: independent jeweler Brad Kodak
Brad Kodak of W. Kodak Jewelers discusses the biggest challenge facing independents today, margins, and marketing what type of lab reports the store uses.
Hoboken, N.J.--A retailer that’s been around since 1970s and is now two generations in, W. Kodak Jewelers is opening a second store, also located in the New Jersey city of Hoboken, which is right across the Hudson River from New York.
Mostly shop-in-shops of brands including Breitling, TAG Heuer, Tacori and Roberto Coin make up the new store, located in in Maxwell Place, a high-end high-rise condominium building.
Recently, Brad Kodak took the time to answer a few questions from National Jeweler about what it’s like to be an independent jeweler today.
National Jeweler: Please tell us about your second store.
Brad Kodak: Basically we have a branded boutique-style store in Hoboken and business is tremendous. We are now opening a second location--a flagship store at the famed Maxwell Place in Hoboken. This is a very luxurious, very high-end building and neighborhood with amazing demographics. The condos range (in price) from $1.2 million to $3-plus million and we would say the average age is approximately 37.
NJ: We spotted your advertisement on the main street (Washington Street) in Hoboken noting that you sell GIA-graded diamonds. Please tell us about the thought process behind creating this campaign.
BK: Well ... I have not seen many jewelers advertise a specific lab report. So I think standing out is important. We also feel our client in Hoboken is of a high intellect and does some research of their own. In my opinion, GIA holds itself to the highest standard in terms of diamond reports, as we do in our way of running our business and the quality we sell compared to some competition in New York City.
NJ: What is the biggest challenge facing you as an independent jeweler today?
BK: The biggest challenge facing the independent is to stand out from the Internet. Attention to quality and customer service are the ways to achieve this, and then your reputation grows as the place to buy from. Word-of-mouth referral is still the form of advertising, especially in luxury.
NJ: In which category (loose diamonds, bridal, colored gemstones, etc.) are your margins the most squeezed and how do you combat that?
BK: Loose diamonds are the tightest margin, but bridal including engagement can still be very profitable. We can’t give out all our secrets.
NJ: What is one thing people often are surprised to learn about you?
BK: How nice
The Latest
The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.
There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Ho Brothers offers scalable solutions for the future of custom jewelry.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."