Samuel B. is focused on making its retail partnerships a success.
The award-winning designer brand Samuel B. is best known for its silver, gold and gemstone jewelry inspired by the boundless beauty of nature and the ancient traditions of Balinese handcraftsmanship. There are more than 1,000 unique SKUs that are actively stocked in styles for women and men.
But what really sets Samuel B. apart, beyond its artfully crafted jewelry, are the tools and resources it has developed to help its retail partners be successful.
Mathew Behnam, vice president of sales and marketing, and second generation of the family operated brand founded more than three decades ago, is focused on making it easier for retail partners to order, market and sell Samuel B. jewelry.
Behnam found that time invested in fielding thousands of phone calls when he first joined the company in 2015 told him what retailers needed from suppliers to better manage merchandise and market product. “It allowed me to pinpoint what was lacking that retailers wanted from their suppliers. I heard their frustrations. As suppliers, we’re supposed to make it as easy as possible to order and sell our products.”
Automating the company was a priority for Behnam, as well as custom building a wholesale website for easy online ordering and access to high-quality brand marketing assets 24/7 (wholesale.samuelb.com).
Behnam is bullish on stock balancing and thinks jewelers do not use the opportunity enough, likely because some programs that exist make it a chore to swap product. At Samuel B. there is great incentive to do so, offering a one-for-one stock balance program, with no RA# or minimum shelf-time required.
“Our stock balance rate is less than 10%, and it should be higher than that,” he says. “The goal is to have the best product assortment possible. If someone is doing well with 50% of their merchandise turning, they may be happy enough, and not realize that 20% to 30% is stale, and if they got rid of it, and expanded in areas that have been successful, they’d sell more.”
To be more proactive, Samuel B. also partnered with the merchandising consultant, Buyers Intelligence Group (BIG), to help its retail jewelers identify opportunities to increase profitability through better stock oversight and merchandising.
In addition to having the right merchandise, having effective displays are critical at the retail counter. “We have taken a great deal of time to make sure our custom displays are not only attractive, but are easy for the sales associates to take products off and put them back on, and sized to fit in most showcases,” Behnam describes.
Samuel B. launched its latest display for its bestselling birthstone jewelry program, which has been well received at recent trade shows. The 70-unit presentation is designed with a small footprint, best angle for product viewing, and stocks 14 popular colors.
Among the other retail partner perks Samuel B. offers a one-year limited jewelry warranty with free resizing and repairs, same-day shipping and free shipping on backorders, exclusive territory, and trunk shows.
Samuel B. also partners with the non-profit group, Feeding America, donating 10 meals for every piece of jewelry sold to its network of independent retailers. “So, if a jeweler purchases 100 pieces they have helped to donate 1,000 meals,” Behnam says. To date, the brand has donated nearly one million meals, an ongoing initiative it committed to after COVID began.
As the entire global supply chain faces many challenges, Behnam notes that we are all dependent upon each other, and that it’s important for jewelers to keep the dialogue open with their vendors to forecast supply. He shares that Samuel B. is producing enough products it thinks it will sell through March 2022, so as not to disappoint retailers during the holidays to fill orders. But he advises jewelers confident about their business to order early and stock up to avoid empty shelves at Christmastime.
For more information, visit wholesale.samuelb.com.