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Product And Service News: Launches From Mastoloni, Kirk Kara, Ritani, and BIG Group May 15, 2019 (0 comments)

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MASTOLONI To Expand Best-Selling Cestino Collection 

New York, NY—MASTOLONI will debut new pieces in its best-selling Cestino Collection at JCK Luxury and JCK Las Vegas. Left: Tulip Drop earrings are suspended from a 14k gold chain, with bud-like enclosure holding a 7 mm white freshwater pearl. MSRP, $750. 

Originally launched as a limited edition in 2017, repeated demand from consumers and retailers has driven an extension of the collection. Alluding to the Italian word for basket, the Cestino Collection features white freshwater pearls nestled in sleek, delicate enclosures, or “baskets." The effect is that of a flower bud about to bloom. Pieces move from day to night with ease. 

A robust addition to Cestino offers more than 20 new pieces: necklaces, earrings, pendants, and bracelets in 14kt yellow gold with white freshwater pearls. Visit Mastoloni at Luxury and JCK, May 29 - June 3, booth LUX 33040.

Cestino Collection's Tulip necklace is 14kt gold with a 22.5" chain punctuated by 5 - 7 mm white freshwater pearls. MSRP, $2,210. 

 

Kirk Kara Offering Lower Buy-In Options For Jewelers

Los Angeles, CA—Kirk Kara’s "Forever Captivating" rings are now available at a lower retail price and with lower initial buy-in options for jewelers. The Forever Captiviating collection is intricate yet minimalist. Designs include solitaires with detailed heads, floral elements, mix-and-match bands, and dainty edges reminiscent of vintage and bohemian styles. Retail prices start at $700 in 14k gold. 

Visit Kirk Kara in booth LUX-1012 at the JCK and Luxury shows in Las Vegas. Call (800) 874-0181 or email angela@kirkkara.com to make an appointment. Show-only pricing includes special bonus. 

 

Ritani Launches “Virtual Shelf” Technology; Gives Independent Jewelers Instant Access 250,000+ Diamonds Or Jewelry 

New York, NY—Ritani announces the launch of Virtual Shelf, a sales vehicle that re-imagines how jewelers sell and customers shop for engagement rings, diamonds, and jewelry. Virtual Shelf provides an instantly accessible digital inventory of over 250,000 diamonds and jewelry items. 

The new platform is a user-friendly, jeweler-branded iPad app that is used over the counter during the sales consultation. Virtual Shelf is designed to complement each retailer’s existing inventory by making available a digital inventory of hundreds of thousands of diamonds and jewelry items available for immediate purchasing. Should a customer choose to purchase a diamond or jewelry item from the Virtual Shelf, the retailer sets their margin and Ritani handles the entire back-end transaction for the jeweler, including fulfillment, credit card processing, fraud risk, and returns. In turn, the retailer immediately sees the transaction on their books. The customer receives the item quickly and safely via insured shipping.

In addition to the robust selection of diamonds and jewelry from Ritani on Virtual Shelf, the program can also be used as a platform for partner jewelers to list and sell their own inventory of certified diamonds and jewelry to other program partner retailers. Diamond owners can set cost/list prices and margins to better manage their inventory flow. 

Ritani's Virtual Shelf program gives retailers instant digital access to more than 250,000 diamonds and diamond jewelry pieces, above. Filters for size, style, and price make the search easier. Below, the search can begin with either the diamond or the setting or a discussion of diamond education.

“The development of Virtual Shelf builds on Ritani’s steadfast dedication to helping independent jewelers implement new technologies to accelerate business,” said Josh Marion, general manager of Virtual Shelf by Ritani. “This platform stems from years of working closely with independent retailers and seeking to solve for the critical issues affecting their businesses. We believe it will have a visible and transformative impact.” 

“While the industry has often been slow to implement new technology, the introduction of Ritani’s Virtual Shelf platform is a game-changer for independent jewelers like Padis and for our customers.” said Alexis Padis, president of San Francisco, CA-based Padis Jewelry, one of five stores in North America currently testing the system in its stores. “This app dramatically improves the sales process for our team, removes the overhead and headaches of managing the transaction, and gives customers access to more diamonds and jewelry from a centralized, nationwide repository. Plus, we are empowered to better manage our owned inventory and offer it to other jewelers on the platform so we can collectively better serve shoppers around the country.”

Related: Inside The Mind of A Millennial Jeweler

Ritani research revealed that nearly two-thirds of people who enter a jewelry store looking for a diamond leave without making a purchase—most often due to price and limited in-store selection. By providing these small businesses with turnkey, digital access to an immediate inventory of certified, conflict-free diamonds and jewelry, Virtual Shelf empowers trusted community jewelers to offer the vast selection, competitive pricing, and modern service previously only available through online companies or with technological and educational tools that are typically cost-prohibitive for independent jewelers. 

Ritani will debut Virtual Shelf at the upcoming JCK Show in Las Vegas. To learn more about the program and sign up for a one-on-one demonstration, visit www.virtualshelf.io.

 

Shop The Shows With Ease: BIG Launches System To Create Instant Buying Plans For Jewelers

Napa, CA—Buyers Intelligence Group, LLC (BIG) has introduced a new system to transform merchandise planning and buying at trade shows, just in time for the Las Vegas shows. The newest addition to BIG’s cloud-based platform for jewelry retailers is titled MAPS (Merchandise Analysis and Planning System). MAPS uses each client’s store-specific budget and goals to create a plan for what to buy, rather than rely on ambiguous or generic buying advice.  

MAPS works in conjunction with real-time data from BIG’s Balance-to-Buy program and retailer-defined turn, gross profit, and inventory goals, to create instant buying plans. These plans can be created by vendors, categories, or any combination, and allows jewelers to quickly create and print plans and budgets to take to vendor appointments. 

To ensure this product was filling a practical need, BIG collaborated closely with industry insider and BIG staff member Denise Sober. As the buyer and accountant at Occasions Fine Jewelers, Sober was an integral part of the creation of the MAPS program, based off a set of spreadsheets she personally used for Occasions over the last two years. 

“Abe Sherman of BIG, my brother Mike Fleck, and I worked on them together. It allowed us to increase our sales significantly while reducing our inventory by $1,000,000,” Sober said. “MAPS uses real-time data from Balance to Buy along with the turn goal, gross profit, and/or inventory goals you set, to print out exactly what you need to purchase. I implemented and used MAPS this January and my preparation time to go to the buying shows was cut from two weeks to 48 hours. And the best part was that just prior to leaving for the show, I was able to update all my plans to reflect current inventory levels and sales!” 

MAPS is a game-changer for individuals budgeting and planning for retail stores, says BIG’s Abe Sherman. It is offered as a stand-alone product for retailers that are not currently Balance-to-Buy clients.

To learn more about BIG and MAPS, find BIG at Luxury and JCK Show Booth L-109, visit www.bigjewelers.com or contact BIG at info@bigjewelers.com for more information or to make an appointment for a demo at CBG, Luxury, or the JCK Show.

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