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Oracle Cloud the Right Accessory to Support Kendra Scott’s Growth

Store associates can guide shoppers to add pieces to an existing jewelry collection or browse similar styles.

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(PRESS RELEASE) REDWOOD SHORES, CA – In 2002, designer, philanthropist Kendra Scott took the jewelry world by storm with her fresh, fun designs and personal touch with customers. Today, her namesake brand has grown from a one-woman operation into a billion-dollar jewelry sensation with over 2,000 employees and 100 stores. As the retailer experiences significant growth year-over-year, it needed a way to better manage its inventory and customers to offer the same level of stellar experience it was built upon. Using Oracle Retail Services, the retailer is delivering on this promise by putting real-time insights into the hands of its associates.

With Oracle Retail, Kendra Scott can maintain a consistent and universal approach to tracking each stone and metal in its line to ensure an accurate, organized, and singular view of inventory. By monitoring the customer transactions, preferences, and history within Oracle Retail, store associates can guide shoppers to add pieces to an existing jewelry collection or browse similar styles. Moreover, significant others can now seek counsel from Kendra Scott associates to find the perfect gift.

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“Our goal is to understand and deliver on the needs of the business. As an organization, we needed a partner who could deliver best in class retail functionality in the cloud. We chose Oracle to deliver a scalable and flexible solution,” said Jim Dunlap, chief information officer, Kendra Scott.

“Kendra Scott is a rising star in the jewelry business in large part because it focuses on delivering a unique product, with unmatched customer service. By deploying a modern retail platform, the growing boutique chain can operationalize this focus; placing the customer at the center of decision-making,” said Mike Webster, senior vice president and general manager, Oracle Retail.

Kendra Scott chose Oracle PartnerNetwork (OPN) Gold level member, Logic information Systems to deploy Oracle Retail Merchandising Cloud Service, Oracle Retail Insights Cloud Service, Oracle Retail Xstore Point-of-Service and Oracle Retail Customer Engagement Cloud Service.

“Kendra Scott was experiencing exponential growth, which required a faster time to market with new boutiques. During the initiative, named ‘Project Shine,’ our goal was to help the retailer quickly adopt the new technology and industry best practices to support their business and meet key business priorities as they scaled. Working in close collaboration with the customer and Oracle, we were able to configure a next-generation platform to fuel Kendra Scott’s continued growth,” said Amber Naqvi, president, Logic Information System.

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Wilkerson Testimonials

To Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than Delivered

Even successful jewelers need a little extra cash to fund expansion plans—especially when there’s inventory on hand that’s ripe for liquidation. For Beaumont, Texas-based jeweler Michael Price, co-owner of Mathews Jewelers, it was the perfect time to call Wilkerson. Price talked to other jewelers as well as vendors for advice during the selection process and decided to go with Wilkerson. And he wasn’t disappointed. When it comes to paying for the move and expansion, Price says the road ahead is clear. “When we close on the next two stores, there’s no worries about finances.”

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Diamonds Do Good Announces Winners of 2nd Annual Millennial-Focused Proposal Contest

Finalists to be flown to Canada to see the real impact of natural diamonds.

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(PRESS RELEASE) In recognition of Valentine’s Day, Diamonds Do Good announced the winners of the second annual ‘Real Stories. Real Diamonds. Real Impact’ video proposal contest. A third year of the proposal contest is now being planned.

The winning couple of this year’s contest, Nicole and Isaiah, hail from North Carolina and were engaged during a trip to Ireland. “I love simple and natural… surrounded by the natural beauty of Ireland, the natural beauty of the diamond and my beautiful fiancé, our proposal story is one I will never get tired of telling” says Nicole.

Nicole and Isaiah will experience the natural beauty of the Northwest Territories of Canada, the third largest producer of natural diamonds. There they will see firsthand the impact natural, mined diamonds have had on the country and to share their experiences through social media.

Videos were judged by digital media influencers @thediamondsgirl, @weddingdiary and @roamaroo with combined followers numbering over 2,000,000.

“The contest is helping boost consumer understanding of the real, positive impact for communities of natural, mined diamonds,” says Executive Committee member Rebecca Foerster, president of Alrosa USA.

D.E.F President, Anna Martin, senior vice president of GIA, echoes, “Educating the younger generation on the good diamonds do and inviting them to engage in this narrative will help boost consumer confidence in, and ultimately demand for, diamonds.”

The winning video can be seen on DiamondsDoGood.com/myproposalcontest.

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Jewelers Block Insurance Specialists Surya and AIB Merge

The combined businesses will continue under the Surya and AIB names.

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(PRESS RELEASE) NEW YORK — Surya Insurance Services, LLC is merging with Associated Insurance International Brokers Inc (AIB). The combined businesses will continue under the Surya and AIB names, both offering jewelers block insurance and other specialized insurance for the diamond and jewelry industry. Janak Dave will continue as Surya CEO and AIB founder Elan Manham will join Surya as President.

“The combined strength of the two companies will allow Surya to continue to grow to provide even better service to all of our customers,” Dave says. “In addition to growing our jewelers block insurance business, we plan to offer more insurance products specifically tailored to the needs of the industry’s top diamond and jewelry professionals, including covering the risks of rough processing, repolishing and the setting of important diamonds and gemstones.”

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Surya Insurance Services is dedicated to serving the insurance needs of the diamond and jewelry industry. Surya was founded in New York in 2005 by Surya Capital to serve the diamond and jewelry industry. AIB was founded by Elan Manham in 1993 to provide jewelry and diamond wholesalers and retailers with Jewelers Block Insurance.

“The financial strength of Surya will give us better relationships with underwriters and enable us to better serve our customers and offer enhanced coverage,” Elan Manham says. “I look forward to working with the Surya team to grow the business.”

The combined companies will be able to provide A+ rated custom insurance solutions tailored to the individual needs of each client, including on premises, in transit, worldwide travel, trade and trunk show, unattended auto, bank vault and memo coverage.

Surya and AIB customers include more than 300 diamond wholesalers, jewelry manufacturers, jewelry retailers, pawnbrokers, and fine arts dealers, from small independent companies to some of the world’s most important diamond sightholders.

For more information about Surya and AIB insurance products and services, contact a specialist at 800-242-7766 or visit www.suryains.com.

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Fortuna Completes First Sale of New Decade

It featured a diamond that brought $40,625.

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(PRESS RELEASE) On February 6, 2020, Fortuna held its first sale of the new decade with exciting results that set the NY-based jewelry and watch auction house apart from current jewelry sale trends. The Fine Jewels sale offered a well-rounded selection of fine estate diamond jewelry and designer pieces, and achieved a nearly 70% sell-through rate—a great feat for this time of year.

The sale brought in bidders and consigners from around the world, featuring items consigned from countries like Spain, and bids coming all the way from Kuwait. It was also the first of Fortuna’s auctions to be streamed live on Facebook, highlighting the boutique auction house’s global reach.

Among the sale highlights sold was a 4.13-Carat Emerald-Cut Loose Diamond. This fine diamond came accompanied by a GIA diamond report stating the stone as possessing G color and VVS1 clarity. This particular diamond, which any jeweler would be thrilled to turn into an engagement ring, achieved $40,625 at auction. Most of the important stones in this sale came with a GIA certificate, which industry insiders trust as the ultimate stamp of verification of quality.

The sale also featured rarely seen designs, like that of a Tiffany & Co. Aquamarine Morganite and Diamond Drop Necklace. The piece, which was the property of a lady, had never been worn and was in excellent condition. The stunning lot which was crafted in platinum in a spectacular cascading design, achieved an impressive $30,000 at auction—more than double its starting bid.

Upcoming Fortuna Auction Sales

The next Fine Jewels auction on Fortuna’s calendar is set for March 19 at 1PM EDT, and is still accepting consignments. If you have jewelry or watches you would like to submit for auction, visit our website at www.FortunaAuction.com or call our office at (212)389-9040 for a free valuation.

Tiffany Co. Morganite Aquamarine Necklace

4.13ct Emerald Cut Loose Diamond

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