(NEW YORK) - White Pine Jewelry Solutions, a division of White Pine Trading LLC, one of the world’s largest recycled diamond companies, plans to help jewelers ramp up their competitiveness via the launch of an innovative consignment program.
The new program aims to help retailers drive traffic to their stores and build market dominance with new styles, categories and price points with no up front costs to the jeweler. “This solution is different from others on the market because it gives medium-to-large chains, or high-volume, independent stores, access to a broad array of value-priced jewelry that is tailored to their needs, rather than the limited selection offered under most consignment programs,” explained Michael Lebowitz, Director of Jewelry for White Pine Jewelry Solutions.
“A cornerstone of this program is to aggressively promote these goods,” Lebowitz continued. “The value priced goods and trend-right styling should resonate with today’s shoppers.”
As part of the program, White Pine’s veteran jewelry experts meet with jewelers’ buying teams to develop a wish list of styles and price points. White Pine then leverages its international network to find trend-right merchandise that meets the client’s criteria. Jewelers pay only for what they sell. The memo period is for a minimum of six months, but based on performance, the program may continue with a new assortment of product for an extended period.
“In today’s current economic environment, it makes sense to broaden the inventory mix without making heavy investments, but only if the consignment pieces in question truly support the strategic goals of the retailer,” Lebowitz noted. “The merchandise mix should also provide real value, which is why our new program focuses both on customization and pricing. Today’s shoppers are now laser-focused on the word ‘sale,’ and smart jewelers are integrating more value merchandise into their full-priced inventories, sometimes by putting in value showcases.”
Categories of merchandise available for consignment include:
- Bridal (diamond engagement rings, diamond bands, diamond semi-mounts)
- Fashion (diamond rings, bracelets, earrings, pendants)
- Color Gemstones (precious and semi-precious rings, bracelets, earrings, pendants)
- Basics (diamond stud and hoop earrings, diamond solitaire pendants, tennis bracelets and necklaces)
- Gents (diamond bands, diamonds rings, pendants, bracelets)