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City’s Iconic Jewelry District Faces Uncertain Future

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Published

6 years ago

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‘I’m lucky to sell one piece a week.’

The Financial Times reports that some business owners in the jewelry district of Los Angeles are seeing their worst business slump in decades.

The district, which got its start in the 1970s, had trouble shaking off the effects of the Great Recession. And now it faces a variety of other challenges, including internet competition and rising raw-material prices.

“It was easy to conduct business before,” said Raymond Moutran, who operates a shop in the district. “I used to see people every day but now I’m lucky to sell one piece a week.”

At its peak about a decade ago the area had about 5,000 jewelry businesses operating in over 30 buildings. The article didn’t provide current figures.

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Local jewelry professionals say the district will survive, but likely on a smaller scale. The jewelers who thrive will be those who adapt to the times.

“If a jeweler who has been working the same way for years is unwilling to change his way of functioning, he needs to understand that it will be very challenging,” Diana Singer, president of the American Society of Jewelry Historians, told the Financial Times.

Read more at Financial Times

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Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”

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City’s Iconic Jewelry District Faces Uncertain Future

mm

Published

6 years ago

on

‘I’m lucky to sell one piece a week.’

The Financial Times reports that some business owners in the jewelry district of Los Angeles are seeing their worst business slump in decades.

The district, which got its start in the 1970s, had trouble shaking off the effects of the Great Recession. And now it faces a variety of other challenges, including internet competition and rising raw-material prices.

“It was easy to conduct business before,” said Raymond Moutran, who operates a shop in the district. “I used to see people every day but now I’m lucky to sell one piece a week.”

Advertisement

At its peak about a decade ago the area had about 5,000 jewelry businesses operating in over 30 buildings. The article didn’t provide current figures.

Local jewelry professionals say the district will survive, but likely on a smaller scale. The jewelers who thrive will be those who adapt to the times.

“If a jeweler who has been working the same way for years is unwilling to change his way of functioning, he needs to understand that it will be very challenging,” Diana Singer, president of the American Society of Jewelry Historians, told the Financial Times.

Read more at Financial Times

Advertisement

Related Topics:

click to Comment(Comment)
Advertisement

SPONSORED VIDEO

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”

Promoted Headlines

Most Popular