Roger Farah Named New Tiffany Chairman

Tiffany & Co. said Thursday that its company's board of directors has elected Roger Farah as its chairman, effective October 2. Farah, 64, joined Tiffany's Board in March 2017. He has served in leadership roles at Ralph Lauren Corporation, Venator Group, Inc., R.H. Macy & Co., Inc. and Federated Merchandising Services.

He most recently served leadership roles with Tory Burch. First as co-CEO and director of Tory Burch from September 2014 till March 2017 and then as executive director in advisory role since March when he joined Tiffany’s board

He will replace Michael J. Kowalski who has held multiple leadership roles for a number of years at Tiffany. He has been the board chairman since 2002 and has served on Tiffany’s board since 1995. He will remain on the board after the change.

In addition, Kowalski, who was Tiffany’s CEO from 1999 until his retirement in March 2015, and served as interim CEO since February 2017, will relinquish that title when the company's newly appointed CEO, Alessandro Bogliolo, joins the company in October.

“Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the board,” Kowalski said in a statement. “With the appointment of Alessandro as our new CEO, and under Roger’s leadership on the board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term.” 

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Tiffany Names Diesel Head Alessandro Bogliolo As New CEO

Tiffany & Co. said Thursday that it has named Alessandro Bogliolo, the former head of global apparel and accessories company, Diesel, as its next chief executive officer and newest board member. He will join the company on October 2.

Bogliolo, 52, is a veteran luxury industry executive who for the past four years led Diesel's efforts to revitalize its brand and enhance the customer experience, according to a statement by Tiffany. He also worked for 16 at Bulgari SpA, including in the roles of chief operating officer and executive VP of Jewelry, Watches & Accessories. During his career, Bogliolo has worked in a range of countries, including China, Singapore, Italy, France, Spain and the United States.

 “Today's announcement concludes the board's thorough process to identify and recruit an accomplished leader to position the Company for sustainable growth in the years ahead,” Michael J. Kowalski, chairman and interim CEO, said in a statement. “Alessandro has a well-deserved reputation for creativity and execution, having previously led a number of international brands to success and improved performance. I also believe that his vision and team-oriented approach make him an ideal fit with Tiffany’s long-standing values. Tiffany is an iconic brand and is at an important time in its history. We look forward to Alessandro and the Tiffany team delivering a distinctive vision of luxury and style to our customers around the world, while also focusing on driving attractive returns for our shareholders.”

“I am honored and excited by the opportunity to lead this remarkable company,” Bogliolo said. “Tiffany, with its legendary history, has always represented luxury, style, and an extraordinary standard of quality and excellence, and I look forward to working with the board and the rest of the Tiffany team to build on this foundation. It is my goal to continue to delight our customers with compelling product offerings, supported by best-in-class operations. I am committed to strengthening the company's position as one of the world's most important luxury brands and delivering value for all of our stakeholders.”

The new appointment is the latest development in leadership changes that began February 5, with the resignation of its former CEO, Frederic Cumenal, on Super Bowl Sunday, the same day it launched Lady Gaga as the face of its new fashion jewelry collection, Tiffany HardWear, with its first ever Super Bowl commercial prior to her halftime performance.

He was replaced in the interim by Michael J. Kowalski, the former longtime CEO of Tiffany’s and its current board chairman.

Later in the month the luxury jewelry retailer announced that it has increased its board of directors from 10 to 13 members. The most familiar name within the jewelry trade is Francesco Trapani, the former CEO of the Italian jewelry house, Bulgari. The other new members were also associated with high profile companies: Roger Farah, co-CEO of the fashion brand, Tory Burch, and James Lillie, the former CEO of the former consumer products conglomerate, Jarden Corp.

In the same announcement Kowalski said he plans to step down as board chairman.

Bogliolo started his career at the global consulting firm Bain & Co., after graduating from UniversitaÌ Bocconi with a degree in business administration and later completed the International Management Program at HEC Paris. According to his Linkedin profile, he also served as COO of North America for Sephora and as VP of sales and marketing in Greater China for the Piaggio Group, an Italian company that produces scooters, mopeds and motorcycles under several brand names.

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Asteria Is Bringing Colored Diamonds Online To U.S. Consumers

Natural fancy colored diamonds are among the most sought after gems in the world, with the very best and rarest regularly breaking worldwide auction records. Israeli-based Asteria Diamonds is one of a few companies that provide high-quality colored diamonds online to consumers. The brand is currently targeting the U.S. market with new offices in New York and Chicago.

Asteria was founded by Bashari Diamonds (Israel) Ltd., a wholesale diamond manufacturing business founded in 1973.

2.29-carat fancy light greenish blue radiant shaped diamond on a diamond ring

As technology in how diamonds are manufactured and distributed advanced in recent years, Bashari saw it was time to create a diamond brand for consumers using its wholesale inventory. Asteria Diamonds was born in 2008. The brand first specialized in white diamonds for the burgeoning luxury market in China, which it had already entered with its wholesale business.

As online retail, marketing and social media continued changing and becoming more global, in 2012 Asteria launched its global eCommerce website (www.asteriadiamonds.com).

1.84-carat fancy yellow-green diamond surrounded by white and colored diamonds, $28,661

Today Asteria specializes in fancy colored diamonds, but also sells white diamonds, colored gemstones and diamond jewelry. The company says it offers its entire inventory directly to consumers at wholesale prices. Even though it is an online retailer, the company says it can provide personalized service throughout the world.

The website offers a full breadth of fancy colored diamonds, spanning all different sizes, cuts, qualities and colors. Prices reflect this diversity, ranging from as low as $400 to more than $150,000. The brand also offers statement diamonds not listed on the website.

3.3-carat fancy light yellow diamond engagement ring

Prices for a full collection of diamond jewels also vary widely based on the quality of the diamond and the design and can run more than $600,000. There were several pieces in which the price was only given upon request.

The brand is certainly keen on pushing fancy colored diamonds for engagement rings, something that has had limited success in the past with U.S. consumers. The trend in colored gems for engagement has a long history among the rich and famous and Asteria is working hard to increase the popularity of this trend.

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Bellusso Jewelers In Las Vegas Is The Only U.S. Store To Carry The $1.2 Million Greubel Forsey Grande Sonnerie Watch

Greubel Forsey Grande Sonnerie

There will only be five Greubel Forsey Grande Sonnerie watches made this year. Two will be shipped in the U.S. One was sold in advance. This leaves Bellusso Jewelers as the only store in the U.S. that will carry this watch, with its estimated price tag of approximately $1.2 million.

Rick Moore, the manager of the luxury watch and jewelry boutique at The Palazzo Las Vegas resort, credits the strong relationship he has with the watch brand for beating out other high-end watch stores for the timepiece. 

“It’s really all about relationships,” he said. “Stephen Forsey (co-founder of the watch brand with Robert Greubel) has made many visits to Bellusso Jewelers and has also attended client dinners.”

Moore says he expects to receive the watch within the next two months. He’s contacted his VIP clients to let them know it’s available. If it isn’t sold prior to arrival he plans to show it in a dedicated display area for Greubel Forsey watches.

Bellusso Jewelers

Greubel Forsey says it is the most complex watch it has ever made—a big statement from a watch brand that specializes in highly complicated watches with multiple tourbillons and inclined balance wheels. Its creations have won some of the most prestigious awards in the watch world. 

Many of the company's ideas are tested in the company’s laboratory based on a proprietary development methodology called “Experimental Watch Technology” (EWT), including the Grande Sonnerie, which is the result of 11 years of research and development. The filing of two patents and the development of an acoustic resonance cage for a pure sound went into the creation of this timepiece with 11 security functions and at least 935 parts. 

It is equipped with a silent striking regulator and a 24-second tourbillon, all housed and well-balanced within a 43.5mm titanium case. It uses a manually wound movement but the striking mechanism has a self-winding system that provides about 20 hours of power reserve in Grande Sonnerie mode. It operates on three modes: Grande Sonnerie (which strikes at the hours and the quarters), Petite Sonnerie (which strikes at the full hours) and a silent mode. The sound is enhanced by an acoustic resonance cage made of titanium. 

The watch was unveiled in January at the Salon International de la Haute Horlogerie (SIHH). At the time the company said it would produce five to eight pieces per year. A company spokesperson told me more recently that only five will be made this year because of time it takes to produce each piece. 

“One watchmaker is responsible for assembling the piece and one watchmaker is responsible for polishing all of the parts,” the spokesperson said. “One piece takes about a year to produce.”

So you can buy it now or wait till next year. 

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Ritani Names Deborah Fine As New CEO

Ritani, a designer and manufacturer of engagement rings and fine jewelry with a vertically integrated, omnichannel sales model, has hired Deborah Fine as its chief executive officer. Fine, a veteran omnichannel executive, begins immediately and will split her time between Ritani’s Seattle and New York operation centers.

Fine replaces Brian Watkins who left Ritani in July, 2016, for what was reportedly described as personal reasons. 

Omnichannel relates to a type of retail that integrates different methods of shopping available to consumers, such as online and through a physical store.

Fine’s career transcends several industries, including consumer retail, fashion and beauty, lifestyle and media. She was previously the CEO of Direct Brands, the largest member- based retailer of media products in the U.S. president of iVillage, an NBC Universal company that was the first and largest media company dedicated to women online, CEO of Victoria’s Secret PINK, founder and president of Avon Mark Cosmetics, VP and publisher of Glamour magazine and publisher of Brides magazine.

“Deborah has demonstrated an impressive track record of leading best in class retail and media businesses and delivering significant results. Her experience and vision will help propel the growth strategy of the Ritani brand, as it seeks to gain market share in the omnichannel fine jewelry market,” said Henrique de Castro, head of Cantor Ventures, an investor in Ritani.

“I’m excited to join Ritani and lead the business in its next stage of development,” Fine said. “Ritani was the first to launch a true ‘clicks and bricks’ model in the category … Ritani’s legacy of craftsmanship, business model innovation, and the ability for consumers to design their own merchandise are strong pillars for growth. I look forward to working with the team here to continue to innovate and increase our market share across all relevant categories.”

Ritani designs and manufacturers bridal and fine jewelry and distributes its product through a network of 250 independent retailers through a “clicks-and-bricks” approach, where consumers can design their own engagement ring online and then have the ring shipped to a nearby jewelry store to preview in person. 

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Divisive Donald Trump Election Leads Jeweler To Donate 50% Of Sales To Charities

An Arizona jeweler became so disheartened with the election of Donald Trump as president of the United States that she decided to create a campaign to donate half of her company’s sales to causes that she fears will be neglected when the new administration begins.

Konstantina Mahlia, owner of the jewelry brand, Mahlia Collection, “impulsively” started this campaign a week ago out of frustration, and it quickly gained traction with several non-profit organizations. The National Association for the Repeal of Abortion Laws (NARAL), Environmental Defense Fund, Sierra Club, Equality Arizona, Planned Parenthood and Sea Turtle Conservancy are on board with this campaign and in some cases are providing marketing assistance.

No one is more surprised by this initial success than Mahlia.

“I (cold-called) the presidents of these organizations saying ‘I don’t know what I’m doing but I’m looking for help to make it work’ and everybody called me back,” Mahlia said.

The name of the campaign is “We Can” and the impulsive nature of it shows as it is incorrectly listed as “Our Way,” on the Mahlia Collection website. It has since been corrected. The campaign is scheduled to run until December 31 but she may extend it. Mahlia also purchased the domain for “We Can” and is in the process of creating a dedicated web presence for the campaign. 

For Mahlia, this isn’t a marketing ploy to increase sales or brand awareness. “If I get any money out of this it will be a miracle,” she said.

Konstantina Mahlia

The campaign is being managed directly through the Mahlia eCommerce website. When someone purchases a product, right before paying a pop up window comes up with the list of partner organizations. Buyers can direct half of the cost of the product to the non-profit of their choice. Each organization has dedicated space on their website for the campaign for accountability and credit to donors for tax purposes (donations are tax deductible).

Buyers can also choose to opt out of directing the money to any organization. 

Ultimately, she says she hopes to build a network of people who have the same concerns as she. 

“I hope it inspires others to step up the plate to do something that is civic minded and empowering,” she says. “Hopefully, we can create an affiliation of like-minded people and know that you’re not just huddled in your world depressed at the demise of the world that is on the way.” 

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The Popular Solange HOTLIPS Rings Now Available Online

British high jeweler Solange Azagury Partridge has launched a new eCommerce website in the U.S., offering her famous HOTLIPS core collection of rings for an obtainable $95. They normally sell for $2,000.

Known simply as Solange, the jeweler specializes in one-of-a-kind creations that are showcased in the wildly creative interiors of her boutiques. Her pieces appear in the collections of the Musee des Arts Decoratives in Paris and the Victoria and Albert Museum in London. 

Her most popular collection is HOTLIPS, rings in the shape of lips made of 18k gold often covered with colorful details made of everything from hand-painted lacquer to precious gems. They became her most iconic item, popular with many celebrities, including Scarlett Johansson, Lady Gaga, Penelope Cruz, Emma Watson and Cara Delevingne.

Solange Azagury Partridge

The rings for the U.S. website will be made of silver and hand-painted lacquer for an attainable price of $95.00 at www.hotlipsbysolange.com.

Her core collection is now available and consists of:

* Classic Red signifying the passion and power of love;

* Black Cherry signifying a mysterious kind of love;

* Bubblegum Pink signifying an innocent and sweet kiss; and

* Nude signifying an elegant and sophisticated kiss.

More colors and designs will be released throughout the next year, including a collaboration with Project (RED) around World Aids Day and a series of flag rings.

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Hong Kong Jeweler Qeelin Enters US Market

Bo Bo classic pendant in 18k white gold with black and white diamonds

Qeelin is a Hong Kong-based jeweler that combines traditional Chinese themes with French craftsmanship, a design-first philosophy, the use of precious materials and a bit of whimsy. It designs, manufactures and sells its jewels through its more than 20 boutiques and other retail outlets, mostly in Asia.

The brand has made quite a name for itself in Asia and to a lesser extent Europe and the Middle East. Now it is entering the US market.

I first met Dennis Chan, Qeelin’s co-founder and creative director, in 2013 in Hong Kong when Qeelin wasn’t a year removed from its surprise acquisition by French luxury goods holding company, Kering. So it was nice surprise to see him again in New York accompanied by the brand’s new CEO, Christophe Artaux.

Wulu ring in 18k rose gold with pave diamonds

The brand is “dipping its toes” into the US market, Artaux said. It has no plans to open a boutique in the US, opting instead to work with luxury jewelry retailers located in large Asian communities. They will debut at Neiman Marcus stores beginning this month in Newport Beach, Las Vegas and Honolulu; and a few independent retailers in California, including CH Premier in Santa Clara. They plan to open with five more retailers in the first quarter of 2016.

They will be selective with their product mix as well entering the market with the brand’s most classic pieces (the brand has 12 core collections and also produce couture pieces, bridal jewelry, accessories, and ladies jewelry watches).

They said they expect to attract well-traveled Asians who are familiar with Qeelin as well as new customers.

The brand focuses on producing fine jewelry with traditional Chinese themes combined with French craftsmanship. Chan says he creates the designs first and then finds the precious materials to build the product.

Xi Xi ear studs in 18k white gold with diamonds and onyx

The brand specializes in fashionable versions of traditional Chinese images, such as pandas, goldfish and dragons using diamonds, 18k gold and precious gems. In some cases the parts move, such as the wings on the brand’s Phoenix necklace. The jewelry is light and lively and designed to be worn daily.

“I like blending east and west,” Chan said. “Our Bo Bo collection for example; the panda is China’s most treasured animal but in my collection it took on the characteristics of a teddy bear.”

The US is an attractive market for its sheer size and wealth. However, it is also a diverse and difficult market to master. The level of penetration this Chinese-themed brand will have in the US remains to be seen. A brand that creates, distributes and retails its own jewels certainly has an advantage.

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The New A. Lange & Söhne South Coast Plaza Boutique

Photo credit: Anthony DeMarco

German luxury watch brand, A. Lange & Söhne, added to its international network of boutiques with its newest location at South Coast Plaza in Costa Mesa, Calif.

The new store in the 240-store luxury retail mall officially opened with a cocktail reception on October 15 attended by nearly 100 persons.

A watchmaker demonstrates a few of the brand's 51 calibers. Photo credit: Anthony DeMarco

“Costa Mesa marks an important step in the brand’s expansion in the United States,” said Gaetan Guillosson, president of A. Lange & Söhne North America. “The first A. Lange & Söhne mono-brand store in California is a commitment to our ever increasing number of fans on the West Coast.”

Private sales room. Photo credit: Anthony DeMarco

It’s the fourth US boutique and first in California for the watch brand, known for its high-complication creations. The 925-square-foot store is typical of the traditional look and feel of A. Lange & Söhne boutiques. The signature grey color, known informally as “Lange grey,” with wood trim and furnishings dominates the three-room space. There are also sandstone elements, which serves as a nod to company’s Saxon origin. In addition to the main display area, there are two smaller rooms in the back, one for private sales and a library-like space for relaxing.

The 1815 “200th Anniversary F. A. Lange”

The reception included a selection of new timepieces from the Watches & Wonders luxury watch event held in January in Hong Kong. It included the 1815 “200th Anniversary F. A. Lange” in a honey gold case, a gold alloy unique to the watch brand. The watch celebrates the 200th birthday of the company’s founder, Ferdinand Adolph Lange. The manually wound caliber L051.1 is composed of 188 parts and has a power reserve of 55 hours. It is limited to 200 watches.

The gold A. Lange & Söhne watch I wore for the event.

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Tiffany & Co. Q2 Sales And Earnings Take A Hit

Tiffany & Co. said Thursday worldwide net sales in the second quarter fell 2 percent year-over-year to $991 million. On a constant-exchange-rate basis worldwide net sales and comparable store sales increased 7 percent due to growth in Japan, Europe and Asia-Pacific, as well as increased sales of fashion gold jewelry and statement jewelry.

The luxury retail jeweler reported that net earnings for the second quarter fell 16 percent to $105 million. It blames the drop in sales and earnings on unfavorable effects from a strong U.S. dollar, a large impairment charge and higher SG&A expenses. Excluding the impairment charge, which was a loan to a diamond mining company, earnings declined 10 percent.

The company downgraded its earnings for the year to 2 percent to 5 percent lower than the prior year.

Frederic Cumenal, Tiffany CEO, said the negative impact of a strong US dollar was greater than originally expected.

“We entered this year expecting translation and tourism-related pressures on sales and earnings from the exceptionally strong U.S. dollar, as well as challenging economic conditions in certain markets,” he said. “The adverse effects from the strong dollar have been even more significant than initially expected.”

By region, second quarter sales are as follows:

The Americas - Total sales of $475 million in the second quarter were 2 percent below the prior year, the company said. On a constant-exchange-rate basis both total sales and comparable store sales in the second quarter were equal to the prior year for the second quarter. Higher sales to U.S. customers contrasted with lower foreign tourist spending in the U.S. which management attributes to the strong U.S. dollar. The company added that there was healthy comparable store sales growth in Canada and Latin America. 

Asia-Pacific – Total sales rose 4 percent to $245 million in the second quarter. On a constant-exchange-rate basis total sales and comparable store sales in the second quarter rose 9 percent and 6 percent, respectively, while total sales and comparable store sales rose 6% and 4% in the first half. Double-digit sales growth in China and Australia was combined with mixed performance in other markets. 

Japan - Total sales in Japan rose 5 percent to $125 million in the second quarter. On a constant-exchange-rate basis total sales and comparable store sales in the second quarter increased 27 percent and 21 percent respectively, benefiting from higher sales to foreign tourists. 

Europe - Total sales in Europe rose 2 percent to $123 million in the second quarter. On a constant-exchange-rate basis both total sales and comparable store sales in the second quarter rose 19 percent, as growth in the UK and across the continent largely benefitted from higher spending by foreign tourists and, to a lesser extent, an increase in spending by local customers, the company said.

Other Sales – This category experienced a 33 percent decline to $23 million in the second quarter. On a constant-exchange-rate basis, the decline was 27 percent due to lower wholesale sales of diamonds but rose 8 percent on a comparable store sales basis.

Tiffany opened six company-operated stores in the second quarter: Geneva, Switzerland; two in China in Shanghai and Hangzhou; in Bangkok, Thailand; in Macau; and in Ottawa, Canada. The company operates 304 stores worldwide. 

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Signet Jewelers Q2 Sales Rise 15.1% With All National Store Brands Contributing

Signet Jewelers said Thursday second quarter sales in its US and UK stores increased 15.1 percent year-over-year to $1.41 billion. Same store sales increased 4.2 percent for the same period. 

The company’s eCommerce sales rose 30.5 percent to $65.9 million. Profit increased 7.2 percent to $62.2 million. 

The Bermuda-based company owns more than 3,600 retail locations, including Zale and Kay Jewelers brands in the U.S. as well as the Ernest Jones brand in the UK, said the sales increase “was driven by positive sales performance across all national store brands.” 

The company added that in the second quarter, an operational change related to the Sterling division’s extended service plans associated with ring sizing favorably impacted earnings. 

Second quarter sales by division are as follows:

* Sterling Jewelers division (which includes Kay Jewelers and Jared) reported that total sales increased 5.9 to $858.5 million. Same store sales increased 3.3 percent. Signet said sales increases “were broad-based across store banners, product brands and non-brands, as well as multi-channels. Bridal and diamond jewelry was particularly strong.” The average transaction price increased by 4.2 percent while the number of transactions decreased by 2.5 percent, due primarily to merchandise mix.

* Zale Division (a new Signet division that consists of former Zale Corp. brands, such as Zales, Piercing Pagoda stores in the US and Canada) saw its sales increase by 57.3 percent to 389.3 million. Same-store sales rose 5.8 percent for the period. 

* UK Jewelry division total sales declined by 2.3 percent to 159.1 million. The decreases were “driven entirely by foreign currency exchange rates,” Signet said. Same-store sales increased 5.1 percent. The average transaction price and number of transactions for the division increased by 4.3 percent and 1.8 percent, respectively, due to the merchandise mix. 

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British Watch Brand Bremont To Unveil First US Boutique

Bremont, the British luxury brand known for its aviation themed watches, is set to fly “across the pond” to open its first boutique in the US.  

The company’s new store on 501 Madison Ave. (near 53rd street) will house 900 square-feet of retail space along with another 860 square-feet of space dedicated to a Bremont service center with trained watchmakers. The company said the new space will open in the early spring.

The store is laid out to tell Bremont’s story alongside that of its key partners. A framed Jaguar exhibit will sit alongside a hand-finished leather wall with a Bremont movement embossed on it. Its partnership with Boeing will be highlighted by videos on a transparent LCD screen along with a signature Martin-Baker ejector seat.

Bremont was founded in 2002 and its watches were first sold in the US in 2008. The company uses Swiss movements, assembled in the UK and placed inside UK-made cases. The company is in the process of building industrial capabilities for machining parts of movements at its headquarters on Henley-on-Thames, England.

“We saw New York, and more importantly Madison Avenue, as a really essential string to our North American bow and a fantastic brand showcase as we continue to expand our retail channel,” said Nick English, co-founder of Bremont. “The US is already a big market for Bremont with a large proportion of our military business hailing from there. Moving forward the US is a very significant and crucial part of the brand’s strategy.”

The interior space is being completely redesigned with the exception of the existing marble floor, which is being restored. The company boasts a “simple and elegant” design using black woods, chrome and leather.

The main displays in the front area of the store are framed in chrome and are incorporated into wood paneling. The front of the store will have displays dedicated to a Bremont core range, while the rear is a relaxed area dedicated to Bremont partnerships. Elements of the watches have been incorporated into the design with the fixture handles being modified straps and cabinet handles replicating Bremont’s barrel.

There will be a fireplace and seating area with a bespoke coffee table incorporating hundreds of Bremont watch parts, showcasing the complexity and number of components needed to produce a mechanical watch.

The new boutique also will enable the company to support its Bremont Adventurers Club in the US, where ambassadors and friends of the brand share their experiences with Bremont owners.

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The 'Millennials’ Part 2 - insights Into What’s Shaping their Buying Habits

Angelka

By Chris Benham, co-founder and director of Inspired Jewellery Ltd.

Creating a luxury brand amid the information overload on the internet is increasingly becoming a challenge. As jewelry companies look to position themselves for the next generation of purchasers, I took the opportunity to two professionals in their early 20’s (the “Millennial Generation”) to share their views on what’s shaping their buying habits and how they are filtering through the holiday sale season madness.

In part one we heard from Hunter. Now we meet Angelka. They both provide valuable views into what’s important to them and insights into what investment jewelry companies need to make to win their trust and future business.

Angelka:

I think brands need to almost redefine themselves when marketing to millennials. With so much going on in our fast-paced lives, it’s extremely difficult to gain my attention if you’re not doing something interesting and memorable. Price is less of a determining factor, at least in the first instance to gain that attention. Brands and products need to connect with my personal values and lifestyle first and then offer incentives for me to buy their products and remain loyal.

Sustainability may seem like a buzz word to some people, but it is a value that is only going to grow in importance. Brands like The Earnest Workshop build their company ethos around sustainability and creating products that are of high quality, stand the test of time, yet have minimal impact on the environment. It is a company that I only happened to have a chance encounter with, but one that will stay in my mind, and I now enjoy following their progress to see what new pieces of furniture they are making.

Quality is another deciding factor - but genuine quality. Trilogy skincare is an example of a product which, thanks to word of mouth, I know to be of high quality - you can’t get more genuine than the recommendations of trusted peers; therefore I don’t buy anything else, even though there are cheaper alternatives. Add to that their simplistic, natural, organic and sustainable focus, and you’ve got a brand that I love.

The sports and fitness clothing store Lululemon is another example of a brand creating a buzz by aligning themselves with the millennial lifestyle. They advocate a healthy, free-spirited way of living, focusing on making the most of experiences and living in the moment. They offer free yoga and barre classes. Their gear is still pretty expensive so I’m yet to buy anything - but it was top of my Christmas wish list, so they’re doing all the right things.

For me personally, working in marketing, I feed off brands that are doing clever things in the marketing space. Kiwi chocolate brand Whittakers, and Australian brand Mimco are always active on social media, engaging with their customers and above all, leading the trends. That’s another reality - especially for females my age - brands need to be perceived as style and trend leaders, not followers.

I feel that the discount madness is overwhelming and it’s causing me to not buy at all. Each day I receive up to 20 promotional emails - most of them I delete, and I know I should unsubscribe, especially from the daily deal website emails. Even daily deal sites that are focused on high-end offers from the likes of fashion brands don’t get much attention because the background and brand stories are missing. Interestingly, the experience-related deals such as dining out, holidays, flights and accommodation still appeal. We do like to get deals where it matters.

With technology, shopping has become a well-thought out process. Extensive research is carried out for most purchases to narrow down my choice to only a few brands or stores. While price is still a factor, if I didn’t do this research beforehand based on what brands and products appeal to me personally, I’d go out and feel lost amongst all the discounts and promotions going on at the same time. Shopping in general is being replaced by other activities - there is definitely a lifestyle shift amongst people my age to valuing quality over quantity and seeking leisure time activities other than shopping at malls and big retailers.

So while price can still be a determining factor in my daily purchases, brands that want my attention and loyalty need to reach me on a different level. As my disposable income increases, it will be those brands that are top of mind and that I ultimately purchase from, not the brands that are promoting 40% off in tacky flashing lights.

Jewelry News Network guest columnist, Chris Benham, is co-founder and director of Inspired Jewellery Ltd., Wellington, New Zealand, a global creative studio for specialist jewelry design. 

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Final Results: Holiday Online Spending Hits a Record $37.2 billion

Retail e-commerce spending for the November – December 2011 holiday season (November 1 - December 31) increased 15 percent, year-over-year, to $37.2 billion, an all-time record for the season, according to comScore, a company that measures digital data and provides digital business analytics.

Ten individual spending days surpassed $1 billion in sales, as compared to just one day reaching that mark in 2010, the Reston, Va.-based company said. Cyber Monday (the Monday after Thanksgiving Day, November 28) ranked as the heaviest online spending day of the year at $1.25 billion, the second consecutive year it has ranked first for the season. The second heaviest spending day was Monday, December 5 at $1.17 billion, followed by Monday, December 12 at $1.13 billion. Tuesday, November 29 ($1.11 billion) and Tuesday, December 6 ($1.10 billion).

With the relative newness and growing acceptance of digital e-commerce, it’s common for online sales to exceed the prior year’s results. However, the 2011 holiday season was exceptional by any standard.

“With brick-and-mortar holiday retail estimated to have grown about 4 percent this year, it’s clear that e-commerce continues to gain market share from traditional retail due to the attractiveness of the Internet’s convenience and lower prices,” said Gian Fulgoni, comScore chairman. “Consumers were especially attracted to the deals and discounts available through digital channels—particularly free shipping, which occurred on well over half of transactions this season. Despite their continuing price sensitivity, consumers felt a bit more comfortable opening up their wallets this year, although this appears to have occurred as a result of a decline in the savings rate. Nonetheless, it’s clear that, at least on the basis of top line growth, this was a Merry Christmas for many online retailers. What will remain unknown until retailers report their financial year end results is whether the aggressive pricing and free shipping offers came at the cost of lower margins.”