Headlines

Jeweler Sells His Store to Diamonds Direct … Here’s Why

He sees the firm as the “perfect partner.”

Published

7 years ago

November 4, 2016

INSTORE Staff

Diamonds Direct, a growing national chain based in Charlotte, NC, has bought Dallas-based jewelry store Diamond Doctor.

Diamond Doctor owner David Blank said he decided to sell to Diamonds Direct because the company was a perfect cultural fit, the Dallas Morning News reports. He said he’s turned down many offers from other companies in the past.

“The great thing about this company that pushed me over the edge was a shared value system,” Blank said. “They’re extremely philanthropic. They’re going to step into my shoes with all the charities.”

The store is the 10th location for Diamonds Direct, which was bought by private equity firm Blackstone (NYSE: BX) a year ago.

Blank plans to continue working at the store for two years of more, according to the Dallas Morning News.

Blank wrote on Diamond Doctor’s website that Diamonds Direct is “the perfect partner to take our retail operations to the next level.”

“My team and I are excited to join forces with the Diamonds Direct family to continue to provide the customer service and personal touch you’ve come to expect from us, complemented by Diamonds Direct’s tremendous diamond buying resources and signature guarantees and warranties,” he said.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”