Press Releases

CIBJO Launches the 1st ‘Jewelry Industry Voices’ Webinar, Focusing on ‘Surviving the COVID-19 Lockdown’

It will look at the impact and implications of COVID-19 on the business from the perspective of industry figures.

Published

4 years ago

April 22, 2020

INSTORE Staff

CIBJO Launches the 1st ‘Jewelry Industry Voices’ Webinar, Focusing on ‘Surviving the COVID-19 Lockdown’ (PRESS RELEASE) As we enter what for many is a second month of economic lockdown and social isolation caused by COVID-19, jewelry businesses throughout the supply chain are looking for immediate solutions. There is a growing realization that that the industry as we knew will be inexorably changed when the pandemic ends, but first it is necessary to keep one’s head above water.

CIBJO’s “Jewelry Industry Voices” webinar series, which premieres on Wednesday, April 22, 2020, will look at the impact and implications of the COVID-19 coronavirus crisis on the business from the perspective of industry figures. With each webinar focusing on a specific topic, the first will tackle the existential challenge of surviving the lockdown, which for many has involved shuttering store and offices, little to no cashflow and the agony of having to lay off or furlough members of staff, while still being expected to honor rental contracts and financing agreements.

Navigating through the stormy waters of this unprecedented predicament is not a simple task. This virus did not come with a script, as one pundit in the UK has opined. No-one has a crystal ball, and none of us can see into the future. But there are signs of hope. China is starting to come out of lockdown and Chow Tai Fook, Asia’s largest retail jeweler, has seen positive reactions from its customers as it reopens stores. How can jewelry retailers both large and small, survive today and be best prepared for the day when business returns?

Entitled “Surviving the COVID-19 Lockdown” the first Jewelry Industry Voices webinar features three leading industry exports – Tiffany Stevens, president and CEO of the Jewelers Vigilance Committee (JVC), a New York-based organization that provides legal services for the jewelry trade and represents the industry before U.S. government bodies; Erik Jens, CEO of LuxuryFintech.com, who formerly headed the diamond and jewelry group at ABN AMRO, the industry’s largest financier; and Amit Dhamani, CEO and president of the Dhamani Jewels Group, a major jewelry manufacturer and retailer headquartered in Dubai.

CIBJO President Gaetano Cavalieri will introduce the series, and the webinar will be moderated by Ed Johnson and Steven Benson.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”