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Retail News: Markle Luxury Jewelers Supports Troubled Kids; Michigan Jeweler Says “Shop Local;” More October 08, 2013 (0 comments)
Michigan Jeweler Helps Develop A Statewide Local Shopping Campaign
Okemos, MI—Becky Beauchine Kulka, owner of Becky Beauchine Kulka Diamonds and Fine Jewelry, believes in supporting hometown retailers. As a board member of the Michigan Retailers Association, she was instrumental in helping to develop and launch a year-long, statewide “Buy Nearby” campaign in Michigan, that her store will be part of. The campaign logo and a promotional image are shown at top of page.
“Buy Nearby” is a branded campaign sponsored by the association that encourages shoppers to buy in stores or order online only from Michigan retailers. Any Michigan retailer can participate simply by posting a “Buy Nearby” poster in their window and tying their promotions and specials to the campaign. Posters are available for download and printing from the “Buy Nearby” website, along with tips for getting the most out of the campaign.
“Retail sales are responsible—directly or indirectly—for 18% of Michigan’s gross domestic product,” explains Beauchine Kulka. “Approximately one half of every dollar spent at a Michigan store goes back into the local economy. Over 850,000 jobs in this state depend directly on retail sales.”
The ongoing initiative officially launched October 5 with “Get Caught Blue Handed” day, a reference to the campaign’s blue state-shaped logo. Shoppers were caught “blue-handed” in photos or videos by storeowners, video crews, or even shoppers themselves whenever they made a purchase at a Michigan store. The visuals were then posted on the “Buy Nearby” Facebook page.
Beauchine Kulka explains how “Buy Nearby” is different from the already-established Small Business Saturday. “Unlike the nationwide event, this campaign focuses solely on Michigan, and on more than just small businesses. It also includes Michigan branches of large multi-state and national chains. The two campaigns, in fact, are designed to complement each other. Everybody in Michigan benefits, including its consumers.” For more information, call (517) 347-4000.
Markle Luxury Jewelers Presents Hearts on Fire Necklace For Golf Gala
The Woodlands, TX—Markle Luxury Jewelers will donate a Hearts On Fire necklace for a raffle during The Woodlands Celebrity Golf Classic and Gala November 8, benefiting Montgomery County Youth Services (MCYS). The jeweler also will host the VIP kickoff party for the weekend.
“We are thrilled to celebrate the Classic’s 25th year with the donation of this gorgeous piece,” jeweler Thomas Markle told The Paper, an online newspaper serving Houston and the surrounding area. “Each year, the support raised for MCYS directly assists many children and young adults in our community. We love participating in an event that shares our passion for serving youth and look forward to seeing this event’s accomplishments in 2013.“
“Markle Luxury Jewelers has been generous with its contribution to the Classic this year, which will make an impact on youth and families in our community,” said tournament Director Greg Freede. The golf portion will be hosted by PGA professional golfer Jeff Maggert and his wife, Michelle.
Gala co-chair Shelli Moran models the Hearts On Fire necklace donated by Markle Luxury Jewelers. The necklace, from HOF’s Silk Pavé line, has 1.75 ctw of diamonds in 18k white gold and is valued at nearly $9,000.
Montgomery County Youth Services (MCYS) a United Way Agency, provides youth and family counseling; crisis counseling; substance abuse education and prevention services; community outreach programs; and BridgeWay, an emergency shelter for abused and neglected youth in Montgomery County. Its goal is to help keep youth in school and prepare them to be productive citizens.
Stock Analyst: Best Opportunities In Luxury Retail
New York, NY—From a stock perspective, Cantor Fitzgerald is bullish on Tiffany & Co. and Coach, but Brian Nichols, an analyst with The Motley Fool, thinks Michael Kors and Restoration Hardware might be better deals. In a report on dailyfinance.com, he acknowledges that Coach is a turnaround stock with high valuation, but warns that luxury consumers are fickle and once a brand is no longer in demand, turnaround can be difficult.
Tiffany, he says, is mature. It’s a market leader with 4.4% growth over last year, but he sees limited opportunity for it to grow further—at least at a rate that’s appealing to investors. Instead, he cites the Michael Kors designer brand as rapidly taking market share in the handbag/leather space that Coach once dominated, while home retailer Restoration Hardware, following its move upscale, saw its revenue grow 30% year over year and comparable store sales grow 26%. Both are outstanding numbers, says Nichols.
Michael Kors, whose popular line of watches also has helped reignite even the fine watch category for women, grew its top line by 54.5% and its bottom line by 82%.
Michael Kors watches, though themselves typically priced under $500, have ignited interest in fashion watches and helped spur growth in the women's luxury watch sector.
When he invests in high-end retail, says Nichols, he doesn’t want to see slim growth (0% to 4%) with pressured margins; he wants to see the kind of rocketing growth Kors is showing. While Tiffany is showing good comp store growth and expanded margins, its topline isn’t expanding much, he said.