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Forevermark, Schachter & Co. Join Forces To Launch New Premium-But-Accessible Bridal Brand | February 11, 2015 (0 comments)
Scottsdale, AZ—Centurion Scottsdale marked the official launch of LVE, a new bridal brand created jointly by Schachter & Co. (a division of Leo Schachter) and Forevermark. The brand is positioned as a premium bridal brand but features accessible price points.
“We believed there was a real vacuum in that space,” says Peter Smith, brand manager of LVE and executive vice president of Schachter & Co. “By definition, that absolutely had to include margins for the retailer. In order to make that work, we needed the certainty of an exceptional diamond--an ideal hearts-and-arrows diamond--and a design that was both differentiated and relevant.”
Schachter & Co. will drive the development and execution on brand designs, pricing, retailer margins, and training, and will work closely with Forevermark on marketing and channel development. All LVE bridal and jewelry products will feature Forevermark diamonds.
The brand was beta-launched in the fourth quarter of 2014, but its official launch took place at a cocktail event during the Centurion Show, with first orders ready to ship by late April. Smith says the beta launch showed the product was well received by both retail sales associates and consumers.
“One of the most interesting revelations of the beta was that the most successful stores saw bridal sales from multiple salespeople, suggesting that the story, pricing, and designs were readily embraced and easily positioned,” Smith told The Centurion.
The brand will be supported by a multi-media ad campaign, developed closely with the Forevermark team. The campaign will include both digital and traditional marketing, as well as options for retailers to do what they do best in their own markets.
The LVE name concept is derived from both “love” and “live.” It resonates strongly with Millennial consumers, the core target for bridal jewelry. The core bridal program will feature round, cushion, and princess Forevermark stones, but other fancy shapes will be available on a special order basis. All styles will be sold as complete rings, not semi-mounts, and will feature the special LVE wrap element, evocative of the infinity symbol. The total number of SKUs hasn’t been determined, but Smith says it’s a balance between offering the consumer enough choice and keeping true to the LVE design aesthetic. He estimates the bridal collection will have perhaps about 20 styles, but each available in multiple diamond sizes.
All designs feature Forevermark diamonds in the signature infinity wrap motif. Styles range from simple solitaires in round (left), princess (right) or cushion cuts; other stone shapes are available by special order. Higher-priced styles, such as this all-diamond band, below, also are available.
“A key aspiration of the brand was to simplify the diamond selling process for retail salespeople and to make it easier for consumers to buy an engagement ring that they could be proud of. Our research suggested that Millennials, contrary to popular thinking, did not want the cheapest option in diamonds, they wanted a better experience,” says Smith.
LVE for Forevermark will be available exclusively through Forevermark retailers. Schachter & Co. will coordinate with the Forevermark team to choose the doors to carry the brand. In-store associate training will be provided.
Click here to watch the video presentation from the Centurion event that explains the brand concept and research leading up to the final product development.
Click here to watch a :30 second spot for the new brand.