For nearly four decades IDD has specialized in understanding the business of independent jewelers to provide them with data driven merchandise and marketing strategies to be successful.
Family owned and operated, IDD is based in New York City’s diamond district, with strategic diamond and manufacturing alliances in Belgium, India, Israel, China, and Indonesia. This gives the company a competitive edge, enabling it to offer the best value to its retail partners.
With roots as a loose diamond wholesaler, IDD has become the independent retail jeweler’s strategic partner for market proven diamond basics, bridal and fashion jewelry and sales programs.
IDD’s core mission is keenly focused on the success of its retail partners, introducing not only bestselling products and programs, but also an interactive B2B website, innovative e-commerce assets, compelling social media campaigns, and the industry’s No. 1 consumer finance
program The IDDEAL Credit Card.
Culture of Listening & Learning
The culture at IDD is centered on continually studying the fine jewelry marketplace to improve its offerings and provide valuable insights and business solutions to its independent retail jewelers.
“Listening to our retail partners has always been central to IDD. Everything we do is examined through the lens of how will it help our retailers sell more and be more profitable,” explains Alok Mehta, president and CEO.
The intangible differentiation of IDD, he says, is this company culture coupled with “the team of people carrying it out, who have learned, over the years, the business of each of their clients, established goodwill, and earned their trust – one customer at a time.”
Recognized as a leader in the mined value space for bridal, anniversary, basics and fashion diamond jewelry, countless retailers are now partnering with IDD to help them navigate the complex category of lab-grown diamonds, says Alok Mehta, with the pricing of lab grown a major challenge. “We work with retailers to customize a diamond strategy based on data and specific to their needs.”
In fact, for the past decade a separate data intelligence unit has been collating, filtering and analyzing data on a variety of metrics, shares Alok Mehta. “This proprietary software provides incredible market insights, data that is driving a large part of our business strategy. And, we’re investing even more in that capability to better equip our retailers for the future.”
Reporting a “tremendously successful” JCK Las Vegas this June, the biggest trend Alok Mehta found at the show was that more and more independent jewelers are looking to align themselves with forward thinking companies like IDD that will work strategically for them.
“When we meet with retailers we come with data and insights about their business,” he says. “We look to find the best solutions and strategies for their market.” He adds that retailers are not only coming to IDD for its collections of bestsellers, but also to create private collections from their own ideas.
Culture of Innovations & Opportunities
Product and service innovations are hallmark to IDD.
Among its high grossing jewelry programs, IDD is recognized for its Forever Day, Harmony, and Flexie collections.
“The Flexie line of flexible diamond bracelets, which IDD introduced to the market, has been a game changer for so many retailers, and dare we say imitators,” says Alok Mehta. “We’re happy this innovative category has driven business for so many of our independents.”
He describes the category as “huge” and “the future of bangles/bracelets.” It’s a $10 billion industry that Alok Mehta hopes to see more independent jewelers capitalize on. IDD has over 100 bracelet styles in the line, as well as a selection of Flexie band rings. In addition to new styles, IDD has a comprehensive marketing package for the Flexie collection now available to retailers.
Whether product or service, wherever challenges derive, IDD has stepped up to find solutions that help their retail partners succeed.
Take IDD’s IDDEAL Credit Card. For nearly a decade, IDD has delivered the industry’s preeminent consumer finance program, processing over a billion dollars of successful consumer financing transactions. This point-of-sale payment solution offers IDD retail partners a program that makes buying jewelry effortless for their customers, with an easy approval process, revolving credit, promotion plans, and competitive rates, with second look option.
Independent jewelers can leverage the large scale, financial strength, and innovative vision of IDD to be relevant, profitable and successful, Alok Mehta underscores. The company creates and supports a variety of sales opportunities, enjoying longtime collaborative relationships with its retail partners.
IDD is a member of all major retail buying groups, as well as a member of The Plumb Club, and is certified by the Responsible Jewellery Council as a jewelry company following responsible business practices.
Retailers can find IDD at upcoming trade shows, including RJO, Booth #446, July 29-31, Philadelphia, PA; and IJO, Aug. 5-8, Cleveland, Ohio. For more information visit www.iddjewelry.com.