New York—SimplexDiam Inc. and Eaton Hudson Jewelry Advisors have joined forces to create a consulting division to assist jewelers.

The joint venture is designed to guide store owners who are looking to sell off unwanted inventory, liquidate a store, or turn around their businesses.

A management team and staff from the two companies will appraise the jeweler’s inventory, promote the sale to ensure high traffic, provide additional inventory to sell on consignment if current inventory is insufficient, bring in supplemental sales staff when necessary and provide an experienced sales supervisor to help coordinate the sale once it starts.

The companies said in a press release that these resources are designed to create a sales event that results in jewelers being in a more advantageous financial position, with the ability to proceed with their plans.

New York’s SimplexDiam is a leading source for closeout jewelry and jewelry manufactured in the United States, focusing on a number of sources for its diamond and jewelry closeouts including retailers, wholesalers, manufacturers, pawnshops, gold buyers, refiners, financial institutions and Chapter 7 and 11 trustees.

In 2015, the company launched consulting services to help jewelers maximize their assets through consolidation, store closings, or going-out-of-business, promotional or retirement sales.

A company spokesperson told National Jeweler that while that division is doing well and is growing, they want it to be “an even larger player in the retail sales consultancy space.”

The new partnership, the company said, gives them access to even more sales consultants and gives its customer based not only the experience of the Eaton Hudson family but also “the comfort of knowing inventory of true value will be available to them on consignment if need be.”

Mount Pleasant, South Carolina-based Eaton Hudson provides strategic solutions for the disposition of excess, obsolete and discontinued inventory and other assets, partnering with retailers, financial sponsors, strategic buyers, managers, lenders and advisors.

“We admire the SimplexDiam Inc. team for recognizing the importance of specific industry expertise in our line of work and are glad to be a part of the launch of this strategic partnership,” said Bob Epstein, CEO of Eaton Hudson’s Jewelry Advisory Division.

“With Eaton Hudson and SimplexDiam together we have a tremendous amount of resources behind us and can draw from the financial capital and back office operational structure of the companies, allowing for a much greater expansion of the jewelry advisory services throughout the United States and Canada.”

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