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Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
IndependentsMar 22, 2016
Jeweler opens up shop in NY
Although recent JBT data shows the jewelry industry is continuing to shrink, David Desso Fine Watches & Jewelry opened on Long Island’s South Shore this month.
Cedarhurst, N.Y.--Though recent statistics show that more jewelers closed up shop in the third quarter than the year prior, it doesn’t mean there are no new beginnings for the industry.
In addition to carrying pieces from brands including Pandora, Roberto Coin, Longines, Montblanc and Frederique Constant, the store also offers jewelry and watch repair and appraisal services.
Owner David Ustaev said he’s created a Facebook and Instagram page for the store already, and also is advertising in the local newspaper, The 5 Towns Jewish Times, and with a local cable company for the holiday season.
“My goal is for the store to become a jewelry destination for jewelry lovers, couples in search of the engagement ring of their dreams, and people who would like to enhance and accentuate their appearance with beautiful and stylish accessories,” Ustaev said.
Although the store’s soft opening happened the first week in November, a grand opening is scheduled for Thursday, Dec. 10 from 11 a.m. to 7 p.m.
The news of Ustaev’s store opening came the same week the Jewelers Board of Trade released data showing that overall jewelry business discontinuances have increased 15 percent in 2015.
Still, the organization did record a total of 180 new retailers this year, compared with 173 at this time last year.
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