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Calabasas, CA—Polacheck’s Jewelers is all about watches, designers, and high fashion jewelry. And that’s exactly what you’ll find when you look inside the store, on the website, and on its Facebook page.
The Centurion asked third generation jeweler Steve Polacheck to share his thoughts about selling watches, staying in business, moving upscale, and transitioning to the fourth generation.

“We’ve gone from a credit store to a fine guild store over the past 20 years,” said Polacheck, reflecting back over the store’s history. Steve and his son Brent come from a long line of family jewelers. Steve’s grandfather ran a store in Seattle, WA. His father, meanwhile, ran one in Glendale, CA, which Steve took over in 1963. He eventually sold that business and began anew in 1989 with Polacheck’s. His dad died that year and never got to see the new store, much to Steve’s regret. Then, in 1998, he opened the Calabasas store that’s well known today.

“One great store, rather than spreading yourself all over town with multiple locations is the way to go,” says Polacheck. Today, the store is about 2,700 square feet. Both Steve and Brent hope to see that doubled in 2013 and are negotiating right now to make that happen. Of that, in sales and in showcase space, watches dominate with 65% of business and inventory with designer and fashion jewelry taking up 35%.

With its prominent clock tower, it's no surprise that watches comprise a large part of Polacheck's Jewelers' business.

In a time where many jewelers find watches to be a hard sell and a hard profit item, Polacheck’s is an exception. “Our margins are shrinking on a yearly basis, while our volume is increasing,” said Polacheck. “Brent has a knack for knowing what’s hot in limited edition watches – he’s all over the limited editions and hard to find pieces – and he keeps abreast of the secondary market on a daily basis so he knows demand and pricing.” Watches are so intertwined with Polacheck’s that the future has a lot in store for their brands.

Polacheck’s carries top luxury watch brands Patek Phillippe, Rolex, Cartier, Officine Panerai, Hublot, Breitling, JLC, IWC and Chanel, to name a few. Polacheck’s customers won’t find just the usual jewelry, either. Instead, they search for—and find—more unusual pieces to stock their showcases. Designers they carry include, among others, Armenta, David Yurman, John Hardy, Lauren K, Penny Preville, and Roberto Coin. But the store also manufactures its own jewelry and has a master jeweler on the premises, along with an authorized Rolex repair expert. Watch repair is another key service the store offers.

Polacheck's makes strong brand presentations in the store. At left, the Breitling counter; at right, Cartier.

The jeweler reaches customers through advertising on billboards, a direct mail catalog, and from a custom magazine called Polacheck's Jewelers Magazine, created annually by Tufts Communications. It is sent to clients during the holiday season. The store currently handles its Facebook presence through a local ad agency, but that’s changing soon, as maintaining it will become an in-house task. Polacheck's also sponsors numerous events throughout the year, contributing to local charities that are dear to both them and their clients. Steve Polacheck says they would not be where they are today if it weren't for the continued support from their clients and community.

Transitions. Steve has turned the business over to his son, Brent, who hopes to take it to the next level, one that includes high-end clients, investment bankers and the long list of notable celebrities that make Calabasas their home. “We’re a suburb of Los Angeles,” says Polacheck. “Houses here are equestrian ranches and large homes that range from 7,500 to 20,000 square feet. It's just far enough out of the city for people to have space and privacy, but close enough that it's a hop, skip and a jump to urban life."

Along with attending trade shows and networking, Brent Polacheck participates in the Retail Jewelers Research Group with other leading prestige jewelers like Clayton Bromberg (Underwood Jewelers, locations in FL); Ellen Lacy (Lacy & Co., El Paso, TX); Mark Moeller (R.F. Moeller, Minneapolis, MN); John Joseph (Joseph Jewelers, Des Moines, IO) and Coleman Clark (B.C. Clark, Oklahoma City, OK). In addition, he has joined the Young Presidents Group (YPO), which he finds to be very beneficial and a local country club, Sherwood, where he’s made some valuable friends.

Steve hasn’t left the building yet, though. In fact, he comes in from time to time to keep his son on his toes, he told The Centurion. Steve has made a point of never wanting to give up his relationships with people he’s worked with for 50 years throughout the industry.

Is it hard to turn over the reins to the next generation? According to Polacheck, “It’s both rewarding and at the same time, a little depressing to think I’m at the end of my career and not at the beginning. I love life, love the industry, and the clock is ticking.”

Some Extra Facts About The Store:

Polachek’s has a loyal staff with little turnover. Steve Polacheck says his well-trained staff each has his or her own long list of repeat customers. The store is open seven days a week in a lifestyle center. According to Polacheck, the center has “anything you might want,” from a market, drug store, fine restaurants, theater, specialty shops and a large Barnes & Noble where locals gather. He compares it to the South of France or Italy when he talks about the local restaurants and their outdoor patios and dining areas.