Damage control
News that Martin Ross Group, one of Canada’s last remaining manufacturers of fine jewellery, had filed for protection from creditors in August stunned the local industry. It also hit close to home for First Jewelry, as the company had been distributing its brands to independents. A few months earlier, Martin Ross had announced it was dropping all lines manufactured outside Canada, including My First Diamond and Currency. To prepare, Travis and his team assembled a customer care department and expanded operations. Still, the news came as a shock, particularly since Persona was still being distributed by Martin Ross. Today, those customers deal directly with First Jewelry.
“We believe that direct relationship between us and the dealer will allow them to do significantly more business,” Travis says. “It will be a much stronger partnership.”
Beyond Martin Ross, the jewellery landscape in Canada remains in flux. Signet Jewelers’ acquisition of Zale Corp., (parent company of Peoples Jewellers and Mappins in Canada) created a middle-market behemoth on both sides of the border, raising concerns about consolidation in the industry. It also offered Signet a way into the Canadian market and with it, more buying clout with vendors and the potential of high-profile brands like Jane Seymour Open Hearts to be offered.
Travis, whose relationship with Zale goes back 25 years to his A & A days, believes the impact on independents should be minimal so long as they themselves are on the brand bandwagon.
“Generic jewellery will always have a home,” he explains. “Maybe it’s for offering something that is price-competitive where the consumer focuses mainly on cost. However, brands are meaningful today in the jewellery business and the consumer is going to come to your store looking for a brand that is meaningful to them and recognizable”¦ The Signet deal can only help the jewellery business overall with more effort and branding jewellery. However, it’s those that don’t recognize the need for brands in their stores that are going to be hurt by it.”
The brand bandwagon goes beyond simply creating a product, Travis says. “You have to consider what the company that owns the brand is doing to make it desirable so consumers come to the independent retailer to purchase it. It needs to be supported, serviced, and kept continually fresh.”
So what’s the best part about leading First Jewelry?
“One thing that is fascinating to me is developing teams of young people,” Travis explains. “I spend a lot of time with our product management team that does the development and analysis on the products we have under our brands. We do all our own graphic work in-house now. We do a lot of great social media work. Even our PR is done in-house now. It’s about spending my time with the different teams of people, providing inspiration, mentoring, and making the business fun.”
