Fred Meyer Jewelers’ Post

Opportunity

Opportunities

Opportunity

Opportunities

WINNING IN DALLAS: #TANISHQ JEWELERS IN DALLAS. SURPRISINGLY TanishQ has been in the US market before, more than a decade ago. #nevergiveup ! I completed the very first 2 stores in the US along with JGA who had designed the stores back in 2008. They unfortunately entered the market during the 2008 meltdown on wall street that year. They were not as large maybe 2500 sq ft format and they had a very unique design. I believe JGA won a few awards for this design. #tanishq HISTORY IN THE US MARKET: HINDUSTAN TIMES Tanishq’s US dream jolted Aug 20, 2009 An ambitious project by #Tanishq, the jewellery retail arm of Tata-controlled watch maker Titan Industries Ltd to expand in the US has been hit by the recession in that economy. Tanishq has shut down two of its stores it opened at Chicago and New Jersey a few months ago after it found operations to be unviable. These stores were opened in 2008, precisely the year in which the US was shaken by the financial meltdown on Wall Street. The company had plans to open about 25 stores in the US. The company's decision to close the two stores also followed failed attempts to bring in an investor for the US operations. The recession in the US had made it difficult for Tanishq to establish itself in the country. Tanishq, launched in India in 1995, is the largest jewellery brand in India #nevergiveup #jewelrydesign #realestate #realestatedevelopment #retaildesign #winning #tata #culture #historymatters #perseverance

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If you want to set up a jewellery store, this is how you make your money... A typical store of ~1000 sq. ft may cost you around Rs 2 crores to set up in terms of interiors and capital spending. At such a scale, one should aim at doing at least Rs 2 crores of revenue per month. Assuming an average order value of approximately Rs 50,000/-, that's about 400 orders a month or about 13 orders a day. To achieve sales of Rs 24 crores per annum, you'll need an inventory of about Rs 10 crores at all times, and try and rotate it 2-3 times a year... Which means keep at least 4-5 months of inventory at all times Typically, making charges is the profit margin, which can be between 5% to 15% depending on the exclusivity of the design. Brands like Tanishq charge making of +20% because of focus on design and trust. However, if a jeweller is clocking no more than 5% making charge, they're probably selling commodity designs and have no differentiation in the market. Assuming making charges of 10% on an average on total sales, the jeweller would spend also on the following: - Rs 5+ lakhs monthly on rent - Rs 2+ lakhs on salaries per month - Rs 1 lakh on marketing p.m. So on a sales of Rs 24 crores, Gross Margin is about Rs 2.4 crores, from which we subtract Rs 1 crore of other expenses, and get an annual profit of Rs 1.4 crores... on an investment of Rs 2 crores on setting up the store, and Rs 10 crores in inventory. that's a Return on Capital Employed of ~12% p.a. ignoring the capital appreciation on gold. 👉🏼 Now, the way to improve this as follows: 1/ Focus on unique designs to increase making charges 2/ Location is everything in retail, so getting footfall is more important than designs 3/ Track data on inventory aging so that you can take inventory rotations from 2X in a year to 3X ********** If you can make the customer sit like this on a couch and serve a free cola, it’ll probably get you to increase your order value. #finance #businessmodel #analysis

I don't like Gucci and Louis Vuitton (and after few paragraphs you'll see how this relates to suppliers and stuff we buy from them). My opinion? Those brands are not worth their price tag. It's just a matter of having a 'tag/chop' on top of your product so that people can show off to earn bragging rights. It's the kind of attitude that keeps people chasing after the next thing and the next after that and so on ... and it never ends. But someone who's smart with their money - they don't have to buy Louis Vuitton or Gucci. Think of Warren Buffett, Mark Zuckerberg or Elon Musk, do they wear those brands? No - and they're the richest people on the planet. Now I do realize that not everyone's going to agree with me. And that's fine. Because anyone who TRULY BELIEVES brands like Louis Vuitton and Gucci are a good place to spend their money, likely believes that to buy high quality goods and services you need to pay a lot ... more. Now truth be told ... ... good suppliers are not cheap, but ... ... expensive suppliers are not necessarily good. As Warren Buffett said: "Price is what you pay, Value is what you receive!" People who succeed generally understand and apply well the concept of value in their life and at work. The Value of not spending money unnecessarily, but instead of investing in assets. And the Biggest Asset that we can invest in? Again, as Warren Buffett said in a 2019 interview with Yahoo Finance editor-in-chief Andy Serwer: "By far the best investment you can make is in yourself." Investment in yourself to build skills and knowledge that help you advance in your career, providing more value for the company and more value for yourself (typically higher salary and bonuses).

Setting up a 916 gold jewelry shop involves careful planning and attention to detail. Here are some steps to consider: 1. Research your target market and develop a business plan. 2. Choose a strategic location with high foot traffic. 3. Build relationships with reliable gold jewelry suppliers. 4. Create an appealing store design and layout. 5. Implement an efficient inventory management system. 6. Develop a strong brand identity and utilize various marketing channels. 7. Determine competitive pricing and regularly review it. 8. Implement robust security measures to protect your inventory. 9. Hire knowledgeable and trustworthy staff. 10. Focus on delivering an exceptional customer experience. Remember to comply with local regulations and stay updated on industry trends.