Headlines

Jewelry Brand to Lay Off 40+ Employees

Published

6 years ago

April 17, 2018

INSTORE Staff

It will concentrate on more affordable pieces.

Job cuts are imminent at De Grisogono, a Switzerland-based maker of jewelry and watches, Reuters reports.

Citing “challenging conditions” in certain markets, the company said it would eliminate 31 jobs in Switzerland. And it said it would cut as many as 10 elsewhere, according to the news agency.

In all, De Grisogono currently employs 104 people.

Reuters reports that the firm plans to concentrate on more affordable jewelry.

De Grisogono was launched in 1993 by Fawaz Gruosi, a pioneer in black diamonds. In December 2017, IDEX Online reported that Sodiam, a state-owned diamond company in Angola, was divesting its interest in the company.

Read more at Reuters

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.”