ColumnistsAug 23, 2022
The Smart Lab: How To Plan An Effective E-Newsletter StrategyColumnistsAug 30, 2022
The Power of Collaboration, From All Perspectives
Kendra Bridelle and Ashley Davis Sigman share both the brand and retailer outlook on what “working together” really means.
Ashley Davis Sigman, left, is vice president of Davis Jewelers in Louisville, Kentucky, while Kendra Bridelle serves as vice president of sales for Judith Ripka.
The true power of collaboration is when multiple parties work together toward a mutual goal.
Some might say the goals of a brand and a retailer differ but at the end of the day, the end goal is the same—profit.
In this follow-up to our June article on the three keys to a successful retailer-brand partnership, we take a look at what the words “collaboration” and “partnership” mean to both the brand and the retailer.
The Brand’s Perspective, from Kendra Bridelle
I can’t tell you how many times a retailer has said to me, “This is my investment. Your brand is only looking out for itself. What is your brand investing?”
This is where understanding the power of collaboration comes in; partnerships are a two-way street.
Brands that invest in the following items are not just looking out for themselves. They are investing in the future of their retailer partnerships because a one-time sale is not going to sustain a business.
Those items are:
• Creative assets
• Advertising and marketing
• Displays and point-of-sale materials
• Tips for training and merchandising
• Co-op advertising credits
• Travel expenses related to sales support
• Event support and giveaways
• Incentive programs
• Inventory to quickly replenish sold merchandise
These expenses add up quickly but are worth every penny if a brand wants to succeed in today’s retail environment.
It is the understanding of the words “collaboration” and “partnership” that ends up making the difference.
Collaborating means connecting with a lot of people—not just the brand and the retailer, but the brand and the entire retailer’s staff, local groups within a particular market, their friends, etc.
The more people you collaborate with, the more successful both the brand and the retailer will be to ensure profit.
Related stories will be right here …
Some might say the goals of a brand and a retailer differ but at the end of the day, the end goal is the same—profit.
In this follow-up to our June article on the three keys to a successful retailer-brand partnership, we take a look at what the words “collaboration” and “partnership” mean to both the brand and the retailer.
The Brand’s Perspective, from Kendra Bridelle
I can’t tell you how many times a retailer has said to me, “This is my investment. Your brand is only looking out for itself. What is your brand investing?”
This is where understanding the power of collaboration comes in; partnerships are a two-way street.
Brands that invest in the following items are not just looking out for themselves. They are investing in the future of their retailer partnerships because a one-time sale is not going to sustain a business.
Those items are:
• Creative assets
• Advertising and marketing
• Displays and point-of-sale materials
• Tips for training and merchandising
• Co-op advertising credits
• Travel expenses related to sales support
• Event support and giveaways
• Incentive programs
• Inventory to quickly replenish sold merchandise
These expenses add up quickly but are worth every penny if a brand wants to succeed in today’s retail environment.
It is the understanding of the words “collaboration” and “partnership” that ends up making the difference.
Collaborating means connecting with a lot of people—not just the brand and the retailer, but the brand and the entire retailer’s staff, local groups within a particular market, their friends, etc.
The more people you collaborate with, the more successful both the brand and the retailer will be to ensure profit.
The Retailer’s Perspective, from Ashley Davis Sigman
Profit only occurs after collaboration with the brand and then implementation of multiple sales and merchandising strategies to ensure success.
After success occurs, you can’t just stop, however.
You must continue to fuel the success, like adding more coal to the boiler of a locomotive. It won’t run on the tracks without the continual pressure to move it forward.
And if the conductor is not manning the train, you run off course or, even worse, off the tracks. Now in this case running off the tracks won’t hurt you physically, but it certainly does financially.
A good buyer understands how to calculate if a brand is worth their showcase space value. At the end, it comes down to dollars and cents.
Buyers, you need to ask yourselves: Is your investment working? Are you seeing turnover? Are you holding margin?
Has your team bought into the brand? And, are you promoting new collections to your clients frequently?
Does this all make sense? If so, your cents turn into dollars and you see profit.
Editors' Picks
Sponsored by
More on Columnists
The Latest
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025The grading lab said the search for her successor is underway.
Policies & IssuesJan 14, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief Several jewelry designers are lending a helping hand to charities in Los Angeles amid the raging wildfires.
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni DiesA pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortThe peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
Weekly QuizJan 09, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand OfficerSchneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsGemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
TechnologyJan 13, 2025
Ultrahuman Unveils Luxury Smart RingWith versions in 18-karat gold and platinum, the wearables company is blending health technology and fine jewelry.
Policies & IssuesJan 13, 2025
Brandee Dallow Elected President of Ethical MetalsmithsThe executive brings more than two decades of industry experience to the role.
IndependentsJan 13, 2025
The Seven Pops Up in Palm BeachThe New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.
Policies & IssuesJan 10, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
TrendsJan 10, 2025
Piece of the Week: Elsa Jin’s ‘Mozi’ BroochAdrien Brody received his first Golden Globe while wearing the “Mozi” brooch, which depicts a spill of traditional Chinese calligraphy ink.
SourcingJan 10, 2025
De Beers, GJEPC Partner to Promote Natural DiamondsThe pair will work together to support independent retailers in India with marketing assets, training materials, and other tools.
CrimeJan 09, 2025
US Customs Seizes Counterfeit Tiffany & Co. JewelsOfficers in Champlain, New York valued the jewels, if genuine, at nearly $30,000.
CollectionsJan 09, 2025
Karma El Khalil’s New Collection is an Ode to the MoonThe “Moonlight Rhapsody” collection is overflowing with gemstones, from raw opal to morganite and spessartite.
Events & AwardsJan 09, 2025
Here Is the 2025 AGTA GemFair Tucson Educational LineupThe seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.
SourcingJan 09, 2025
Reena Ahluwalia Unveils New Works in ‘Diamond Trails’ AnthologyThe artist collaborated with industry creatives on the project, which features five fictional stories and five corresponding paintings.
IndependentsJan 09, 2025
Virginia Jewelers Raise Nearly $26K for Children’s Hospital at Charity BallNine jewelers donated jewels for a raffle to support the Children’s Hospital Foundation at Virginia Commonwealth University.
WatchesJan 08, 2025
Oris Debuts Hot Pink Miss Piggy WatchMiss Piggy shared her thoughts on being fabulous, the importance of accessories, and how to be your own cheerleader.
Lab-GrownJan 08, 2025
Effy Introduces Brand Dedicated to Lab-Grown Diamonds“Promise by Effy” includes fashion jewelry and engagement rings.
IndependentsJan 08, 2025
Haltom’s Jewelers to Close After 130 YearsThe Texas-based jeweler is closing all three locations.
TrendsJan 08, 2025
Zendaya’s Engagement Ring Combines Vintage and Modern ElementsZendaya’s ring, featuring an east-west set elongated cushion-cut diamond, is said to be from British designer Jessica McCormack.
TrendsJan 07, 2025
Amanda’s Style File: January Is for GarnetGarnet is comprised of a group of minerals, giving those with a birthday in January options when it comes to their birthstone.
IndependentsJan 07, 2025
Edge Retail Academy Names 2024 ‘Wag’ Award Winner The annual award, created in memory of business coach William “Wag” Wagner, went to a retailer in Fairfax, Virginia.
MajorsJan 07, 2025
Jewelers for Children Promotes Round-Up Fundraising ProgramRetailers and vendors can ask customers to make a donation by rounding up to the next dollar at checkout.
SourcingJan 07, 2025
Columbia Gem House To Debut Lightning Ridge Opal CollectionThe wholesaler is partnering with Australian brand Cheal Opal on a new offering of calibrated stones.
