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Forget the Gloom — This Jeweler Is Expanding

“It’s a wonderful location and an exciting opportunity.”

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The Source Fine Jewelers in the Rochester, NY, area announced the opening of its third location.

The location will be "the largest all-jewelry store in Rochester," with 7,000 square feet. The store will have 5,000 square feet of showroom space.

“We’re thrilled to be opening the new store,” said John Simonian, president of The Source Fine Jewelers. “It’s a wonderful location and an exciting opportunity. We’re grateful for the success that makes this kind of growth possible, and we owe that success to the support of this community and our valued customers.”

The official opening was set for Nov. 18. The store is at 326 Eastview Mall, Victor, NY, at the site of the former Mann’s Jewelers.

News of the expansion follows this week’s report from the Jewelers Board of Trade that 416 U.S. jewelry businesses closed their doors in the third quarter. That number was up 31 percent from the same quarter of last year.

Still, The Source Fine Jewelers is not the only jeweler that’s expanding or launching at the moment.

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Impress Jewelry Creations held its grand opening this week in Granger, IN, the South Bend Tribune reports.

Grogan Jewelers by Lon opened a store this month in Franklin, TN, this month, taking the company beyond its Alabama roots, according to Spring Hill Home Page.

And South Dakota-based Riddle’s Jewelry earlier this month opened its second Billings, MT, location, the Billings Gazette reports. The jeweler operates in nine states.

In the third quarter, 64 new jewelry businesses opened in the U.S., including 49 retailers, according to the Jewelers Board of Trade. That’s compared with 74 in the third quarter of 2015.


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For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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