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Building a space to suit millennials
Jeweler Nick Blum knows what the millennial customer wants, because he is one, and he’s building a new store to appeal specifically to his own generation.
New York--Jeweler Nick Blum may have an advantage when it comes to appealing to the millennial consumer, because he is one. 
Blum is the owner and designer of Blumlux, an appointment-only jewelry design boutique in Indianapolis’ Broad Ripple Village that he opened in 2005 after studying watch and jewelry manufacturing and diamonds at the Gemological Institute of America in Southern California.
But while the lounge-like space is touted as “Not your traditional jewelry store,” Blum’s got a new idea up his sleeve--one he hopes will get his own generation in the door.
“The traditional jeweler doesn’t speak well to our generation,” Blum said. “Just like they were slow to adopt the e-commerce trend, they are also slow to address the purchasing habits and expectations of the millennial consumer. Most stores seem dated and have a hard ‘salesman’ approach; we want an easygoing, comfortable experience.”
And that’s exactly what he’s aiming to create with the four-story, 14,000-square-foot building he just purchased in downtown Indianapolis.
Blum is converting the space into a multi-use center, made up of luxury lofts and retail space that will include the relocated Blumlux Boutique, newly conceptualized in a way he hopes will attract the discerning millennial consumer.
So how is he designing it to reel them in? To start, Blum said the new store will feature a walk-in front shop that will sell a new, lower-priced Blumlux collection, as well as an assortment of curated products from his favorite designers. This part of the store will offer normal business hours, as opposed to restricting it to appointments only.
Within this front shop will be a secret door that leads to Blum’s boutique lounge and design studio, a back room reserved for high-end Blumlux products and bridal collections, accessible to any interested customers. Here, (of-age) customers will be invited to enjoy drinks and cigars as they talk and shop jewelry with Blum in an atmosphere that follows a modernized take on prohibition-style speakeasies.
“I want all my guests to never feel pressured into buying anything,” Blum said. “I want this to be a place where people can just come, hang out, and enjoy a drink or cigar. That’s why I’ll have my design studio in there as well, so they can see how I work and feel like
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they are a part of the process.”
Blum told National Jeweler he’ll tap into digital and social media marketing and advertising to promote the new store, a medium he’s always utilized and will ramp up once the space opens. He’ll also work with press and public relations professionals, cross-promote with other local events, retailers, brands and celebrities to get the word out, and, as a bonus, the jeweler also will use the side of his building that faces I-65, a main highway in downtown Indianapolis, as ad space for Blumlux.
Though the new boutique will be designed primarily to attract millennials, Blum said more mature clients not only are welcome, but already love the secret speakeasy concept.
“Our décor and strategy might cater to millennials, but we think it’s an experience that people of all ages will enjoy. It’s the millennials that are harder to attract,” he said. “Mature customers are usually easy-going. They like new ideas, new experiences, and are always willing to check out a new store concept. Fifty is the new 30. They want cool things too. They want to look and feel young. I think what attracts millennials can also attract older audiences. I really view it as a win-win.”
When it comes to the rest of the four-story building, Blum is aiming to make it part of a lifestyle center.
“That’s the goal,” he said, when asked if he will rent the remaining retail spaces in the building to other like-minded stores targeting the millennial consumer. “We are still in the beginning stages of the process, but we are looking at all different options.”
The new Blumlux store is slated to open in early winter.
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