Independents

About Retail: Surviving a Century

IndependentsOct 28, 2016

About Retail: Surviving a Century

A 100th anniversary is not a milestone many retailers reach, making it certainly something worth celebrating. National Jeweler recently talked to three jewelers who will mark a century in business this year to learn more about the keys to success and what they’re doing to keep going. 

New York--When one thinks of all the major events of the last 100 years, it makes a store’s survival through all the ups and down--two world wars, the Great Depression, the recent recession and everything in between--even more impressive.

And while it’s likely that any of those who can boast 100 years in existence would say that it was by no means easy, what emerges from that history is a wealth of valuable lessons learned.

From left, Jeff Corey, Kathy Corey and David Davidson, the original founder of Day’s, in 1988, when the Coreys purchased the Day’s Corporation from the Davidson family.
From left, Jeff Corey, Kathy Corey and David Davidson, the original founder of Day’s, in 1988, when the Coreys purchased the Day’s Corporation from the Davidson family.

National Jeweler recently spoke with three jewelers whose stores are marking 100 (or more) years in business in 2014 to get an idea of how they made it through a century and what they would tell other jewelers looking to do the same.

Creating a community 
Rather than referring to a store or a number of stores, Jeff Corey of Day’s Jewelers talks about it as an “organization,” with a unifying set of core values that work to build a company “that stands the test of time.”

Day’s was originally founded in 1914 as a small pawn shop in Portland, Maine by Captain Harry Davidson, who had to leave life at sea due to illness. He was joined in time by his three sons, and over the years the family established 21 stores across New England.

In 1988, the remaining owners of Day’s, Sidney and David Davidson, decided to sell the business, to current owners Jeff, Jim, and Kathy Corey, and Mark Ford. Jeff and Jim’s father had worked for the Davidsons before, and had taught his children the Day’s culture and values.

Today, Day’s operates six stores throughout New England, where they combine the skills and knowledge that have been part of Day’s since the start with modern technology.

The ideals that the company teaches to employees include providing everyone with the opportunity to own fine jewelry through a range of products and price ranges, providing the best value in both goods and services, and viewing customers’ jewelry beyond just monetary value, taking into account sentimental value, Corey says.

To ensure a lasting future, the company is also adapting to the world of technology, including a focus on its website, which features thousands of items and is updated regularly to remove those that are no longer available.

Day’s is also creating a company environment that gives a voice to all its employees.

“We’re a company that trusts people,” Corey says. “Our employees are given the authority to make their own decisions across the company. If we’re going to be successful, we need to find a way to tap into the mind of every individual in our company, and that’s not always an easy task. Mistakes are made, and we use that as part of the learning process.”

Building on the past 
Samuel Gordon Jewelers in Oklahoma City, Okla. took a chance in 1990 when it consolidated its three existing locations into one 12,000-square-foot “superstore,” as CEO Gary Gordon refers to it. 

The company quickly benefited from the wide selection that could be presented to customers, as well as the ability of leadership to always be on-site and available, leading the store into a new era.

Founded in 1904 and celebrating 110 years in business this year, the jeweler is now under control of the third generation of Gordons.

“Throughout all of it, the reason we’re still going is that we’ve always had great watches to sell,” Gordon says. “There wouldn’t be a store today without watches. The bridal department is physically the largest in our store now and we’ve built a background in diamonds and engagement rings, and the watch department is not quite as important as it used to be, but it more than made up for it in the past.”

With all the personal technology that many consumers may use to keep track of time these days, watches have “take on another life,” Gordon says, noting that many of the people he sells to now are wearing them to express their style or make a fashion statement.

The company developed a plan some 10 years ago to promote more aggressively, including advertising at bridal events.

Gordon notes that they also focus on a “healthy mix” of advertising and promotions on their social media accounts, including Facebook and Twitter, as well as classic advertising in the newspaper, on billboards and on television.

“We’ve enjoyed modest growth every year since the recession,” Gordon says. “We are very careful and mindful of having the right lines for our customers. We have highly trained sales people and we try to keep everybody fresh on industry news.”

When looking back at his experience and what he’s learned, Gordon says, “My advice to any retailer is this: Take care of your customers, your employees, your vendors and yourself, and everything else will pretty much fall into place.”

All in the family 
Newton’s Jewelers in Fort Smith, Ark., has seen three generations of the Newton family at the helm, and is still managed by the same set of core values with which it was started.

Founded by George Newton in 1914, the store continued on through Bill Newton and Kelly Newton, who currently runs it.

“We always maintained high quality and honesty,” Newton says. “My grandfather was a stickler for telling the truth, and it stuck. That’s how he made everyone run the business.”

Newton adds that one of the major changes the store has seen over time is that they depend more on the volume of sales rather than on pieces generating higher profit these days.

Just as is the case with Samuel Gordon Jewelers, the engagement ring business is a large part of the store’s business. Newton adds that Rolex watches have been extremely important for the company throughout its history and remain strong sellers.

Newton’s Jewelers has begun putting more emphasis on social media. While they still do traditional ads, they’ve trimmed the budget in that area and it’s had little effect on sales, according to Newton.

The advent of technology and the new platforms that are available to jewelers has made the industry vastly different from what it was when the store was founded. But by embracing the changes the company has been able to navigate the years successfully.

“Nothing replaces hard work,” Newton says. “You have to work hard because this business is ever-changing. You have to be smart, work hard and stay open to change and suggestions. And most of all stay true to the philosophy of the business. You have to decide up front what that will be and stick with it.” 
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

gia-edu main image.png
Supplier BulletinSep 04, 2025
A Brilliant Future Is Here

Sponsored by GIA

Lucara pink diamond
SourcingSep 04, 2025
Lucara Unveils Unusual 37-Carat Pink Diamond

The Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.

A street in Carlsbad California
Events & AwardsSep 04, 2025
27 Can’t-Miss Converge Sessions, Events

From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.

japac-btyb.png
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key Issues

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Shot from Breitling new NFL campaign
WatchesSep 04, 2025
Breitling Takes Its NFL Game to the Next Level

Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.

Weekly QuizSep 04, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
NYC Jewelry, Antique, & Object Show Autumn 2025
Events & AwardsSep 04, 2025
The NYC Jewelry, Antique, & Object Show Returns in November

NYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.

Fabergé x Gemfields Malaika Egg
SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé Sale

U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Claire’s storefront
MajorsSep 03, 2025
These Are the Nearly 300 Claire’s Stores Set to Close

A new court filing details the locations of the stores that will close, as well as the 830 that will remain open.

Stuller’s Tools, Equipment, & Metals and Findings & Metals Catalogs
MajorsSep 03, 2025
Stuller Releases 2 New Catalogs

The new catalogs are “Tools, Equipment, & Metals” and “Findings & Metals.”

Effy Jewelry Multicolor Sapphire Bangle
TrendsSep 03, 2025
Amanda’s Style File: A Perfect Birthstone

Sapphire’s variety of colors make it the perfect birthstone for September.

Woman with hands crossed wearing jewelry
FinancialsSep 02, 2025
Lab-Grown Diamonds, Lower-Priced Fashion Jewelry Drive Signet Jewelers’ Q2 Sales

The retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.

Jean-Christophe Bédos Birks
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps Down

Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.

Harry Winston Ginza Flagship Exterior, Interior
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in Japan

The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

All Hours: Stephanie Gottlieb Fine Jewelry x Oak and Luna Campaign Imagery
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ Collab

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

Sothebys The Desert Rose orangy pink diamond collectors week
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink Diamond

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

Calvin Klein watch and jewelry campaign
FinancialsAug 29, 2025
Movado’s Q2 Sales Rebound Despite Tariff Impact

CEO Efraim Grinberg noted a resurgence in the fashion watch market.

Mark Davis Bullseye Necklace
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Image #1_Resized.png
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and Coaching

Sponsored by Clientbook

GIA’s new report for lab-grown diamonds
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

Botswana President Duma Boko
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales Slump

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Afton Robertson-Kanne Borsheims
MajorsAug 28, 2025
Borsheims Names New Jewelry Buyer

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

Taylor Swift Engaged
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond Cuts

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

11,685-carat Imboo emerald
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem Mine

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Shopping cart
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income Worries

Plans for dining out, booking vacations, and buying big-ticket items were down.

Mine + Found Play Collection Prize Bubble Locket, Whistle Pendent, Fortune Dice
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

CCWW lifesaver necklace
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy