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 years ago

May 6, 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.

After 35 Years in Kent, Bonaci Fine Jewelers Found the Right Partner to Close the Right Way

Bob Bonaci spent 35 years building a jewelry business and community presence in Kent, Washington. When he decided it was time to retire, he knew the process would take careful planning — and the right help. Fellow jewelers who’d been through it pointed him to Wilkerson. The results exceeded expectations. Wilkerson’s hands-off approach let Bonaci step back while the team handled every detail, meeting his personal and financial goals throughout. “It is phenomenal, the success that we’ve had.” Watch Bob share his retirement story.