The Edge Retail Academy (ERA), a leading retail jewelry business consulting company, announced that Lonnie Iannazzo of Vincent Anthony Jewelers has been honored with the annual William (Wag) Wagner Business Excellence Award for 2022.
Vincent Anthony Jewelers is a premier jeweler that brings unique design and jewelry looks that can’t be found just anywhere in Tulsa.
David Brown, ERA President, commented: “The Vincent Anthony team identified opportunities and developed strategies with their Edge Retail Academy Business Advisor that allowed them to increase sales by 16%, raise gross profit by 21% and even increase his gross margin by 2%.”
Charleen Pfaff, Lonnie’s Edge Retail Academy Business Advisor, added, “Vincent Anthony focused on inventory management; the store reduced its aged inventory by nearly 50% which freed up significant cash flow to buy fast sellers.”
Lonnie Iannazzo stated, “with the help of Charleen, we are focused on our KPI’s including having a good product turn, selling many items 5, 6 and even 10 times in a year. You can imagine how this turnover impacts our bottom line.”
William (Wag) Wagner Business Excellence Award
The Business Excellence Award is given annually to 1 retail jeweler that has achieved the most exceptional business growth in the past 12 months.
This is the fifth year that Edge Retail Academy has presented the William (Wag) Wagner Business Excellence Award. The winner for 2021 was Petite G Jewelers.
“The Award has two goals: (1) to acknowledge business excellence from independent retailers and (2) to honor the memory of long serving ERA Business Advisor William (Wag) Wagner, whose service, loyalty and advice went well beyond the expectations of our clients, his work colleagues and our company,” said Brown.
Wag passed away in September, 2018.
Edge Retail Academy presented Lonnie with the award and a check for $1000.
For more information about Edge Retail Academy, visit www.edgeretailacademy.com.