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Forevermark Forum Issues Challenge to Lead Change in Diamond Industry

Published

8 years ago

April 13, 2016

INSTORE Staff

Synthetics, commoditization of diamonds discussed.

The fifth annual Forevermark Forum took place at the Biltmore Arizona April 4-6, drawing nearly 500 attendees. The theme of the conference, “Better Together,” urged Forevermark jewelers, manufacturers, diamantaires and industry leaders to join together to solve the diamond industry’s most pressing issues.

Industry issues like synthetics and the commoditization of diamonds were top of mind. Stanley and Forevermark CEO Stephen Lussier kicked off the conference with a seminar on sustaining trust in diamonds.

“From its inception, Forevermark has been a challenger brand, and as such, we are driving competitive advantage for our partners all over the world. Together, we can collectively take on the challenges that are before us today, transform those challenges to opportunities, and drive our competitive advantage toward a simple objective, a more profitable and sustainable diamond business for all of us,” says Lussier.

Charles Stanley, president of Forevermark U.S., added: “Forevermark was created five years ago to address industry issues and bring margins back to diamonds. It has been our top priority to do everything we can to help our partners be more successful, and only in doing so have we found success. In 2016, we will continue to build the Forevermark brand, dialing up our responsible sourcing messaging, supporting emotionally driven products, and featuring specific call-to-action creative in Q4.”

Over the forum’s three days, Forevermark partners conducted business with one another, shared sales strategies, and participated in seminars and workshops focused on strengthening the overall diamond business. Guest speakers included Peter Sheahan, CEO of Karrikins Group, and Mark Barden, a partner in the consulting firm eatbigfish, which coined the term “Challenger Brand” in its book “Eating the Big Fish.”

Forevermark Forum Issues Challenge to Lead Change in Diamond Industry

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”