Brainstorms

Who’s to Say You Can’t Do Your Own Private Label?

Just because it works well for big box retailers is no reason to shun the concept.

Published

2 weeks ago

April 24, 2024

INSTORE Staff Instore May 2024 Issue

Who’s to Say You Can’t Do Your Own Private Label?

PHOTO: ISTOCKPHOTO

The big box experience may not be one you want to emulate, but there’s one area they do well: private label brands. Retail consultant Megan Crabtree suggests you develop your own in-house bridal brand. “By creating your own private label line, you can control the branding, pricing, and distribution of your products, leading to higher margins and customer loyalty. This strategy allows you to differentiate your store in a competitive market and appeal to customers seeking unique and high-quality jewelry,” she says. Moreover, having a product with a unique story behind it can resonate with customers and create a stronger emotional connection to your overall store brand, Crabtree says.

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.”