Independents

Designer’s Diary: Breaking Up Is Hard to Do

IndependentsMay 21, 2018

Designer’s Diary: Breaking Up Is Hard to Do

Jewelry designer Jacqueline Stone decided to walk away from her business after eight years. She dissects her decision and the challenges facing emerging jewelry designers today.

20180521_Designers-Diary-header.jpg
One of the custom engagement rings Jacqueline Stone made during her time in business as Salt + Stone. This ring was created for her best friend using an heirloom diamond and designed to symbolize a castle, as her friend thought of her significant other as a real-life Prince Charming.

Watching eight years of blood, sweat and tears go up in smoke is not for the faint of heart.

It was quite emotional bringing the remains of a jewelry dream gone wrong to a metal refinery last month, but also extremely cathartic. I’ll have that visual reference to look back on anytime I need a reminder of my emotional strength. The time has come to close the doors to my fine jewelry company, Salt + Stone, in the hopes of opening another.

Every entrepreneur understands the difficulties of starting a new business. You’re venturing out into the wild unknown and failure is almost guaranteed. The businesses that stay alive and continue to prosper recognize this fact and understand the importance of getting up again after each and every knockdown.

But, when does it become time to wave the white flag? When is the fight no longer worth it? I definitely don’t think there is a magic formula, but for me the answer was simple: It was when my business no longer brought me joy.

I started my jewelry journey in 2007 after a fateful trip to Brazil that stirred the creativity in my soul.

My love affair with the craft and complexity of fine jewelry had just begun and wow, did I have so much to learn. I spent years educating myself on technical design, manufacturing techniques and reluctantly even spent time on the bench learning micro-pave. I began my craft with the enthusiasm of an ingénue. I was going to become a successful jewelry designer and take over the industry! Little did I know how difficult it would be.

I won’t make any excuses for my business failing, nor do I want your sympathy. I overextended myself with inventory, was too emotionally tied to my work and was a horrible networker. At my heart and soul, I’m an artist and trying to sell my work for a profit did not come naturally.

If I ever did it again, there are so many things I would change! I have an easy time marketing or “bragging” about other brands, but to market myself felt disingenuous.

Again, I am not seeking sympathy. But what I do want is to draw your attention to a growing problem in the fine jewelry world. Can a jewelry designer begin a business in the current environment and make it? Yes, but I

think there needs to be a deeper understanding that making it in fine jewelry these days is like an unknown actor getting her or his big break in film. It’s truly that difficult.

My hats go off to those who refuse to give up. I’ve watched them sacrifice everything in the name of passion and art. Some that immediately come to mind are Judi Powers, Lulu and Shay, Delphine Leymarie, Spencer Fine Jewelry and Dana Bronfman. I know several of these small jewelry powerhouses personally and it’s so rewarding to watch them continue to grow. They worked their tails off to get here and it’s nice to see them finally getting some breaks.

But why are there so many other designers continuing to fail, like me? And, why should you care?

Well, in case you haven’t noticed, our industry is in a period of transition. Mom-and-pop jewelry shops have been closing left and right for myriad reasons, including online competition and retiring owners.

Large retailers, like Signet Jewelers and my alma mater, Tiffany & Co., are scrambling to reinvent the in-store experience while serving customers online and connecting with the next generation through new mediums.

There are many theories as to why the jewelry industry has seen better days. My take? Scoff all you want, but millennials are intent on fixing the mess we’ve left them. They want to make a difference in this world; they actively engage in service and their main focus is leaving the planet a little bit better than they found it.

For some millennials, supporting the controversial diamond trade is not on their bucket list. Others do not covet the blinged-out tennis bracelet like the baby boomers who came before them. They are a soul-searching, thoughtful tribe who want their jewelry to represent their voice. A lot of times, when it comes to fine jewelry basics like diamond studs or gold rings, they’re just not into it. However, it just so happens that millennials, who are on the cusp of becoming the largest group of consumers in the United States, recognize passion.

Millennial consumers loved my designs and the thought that went into them. I put energy into bringing modern love stories to life, engagement-ring style. I had young folks from across the country reaching out to me, a gal they’d never met, to learn more about using my design skills for the largest luxury purchase of their lifetime thus far. Why didn’t I make it? Because organically I can only grow so much and I needed help spreading my footprint. In order to have my designer jewelry take flight, I needed to move into the wholesale/retail machine. And let me tell you, it chewed me up and spit me out in only a year.

The margins a jewelry designer receives today are ridiculously low for the amount of work that goes into a piece. Most stores these days want to take pieces on consignment or when they place an order, they want to wait to pay when it’s finished. Sometimes, they want to cancel the order when you are halfway through production (not naming names, but I should). I almost bankrupted myself making retail establishments happy and myself miserable in the process.

However, my experience was not all bad. I’d like to take a moment to give a huge thank you to David Shaw of the designer-friendly Dallas store Shaw Diamonds and Designs. I think he is an exemplary example of what a designer/retailer relationship should look like and I think we all could learn a lot from him. Not only did David place an order with me, but he had me come out to his shop in Texas for a holiday trunk show. David also happens to be just an all-around awesome human being. If every retail establishment supported designers in the way he does, we’d all be in a lot better shape.

I hope my tale inspires all of you to start making changes.

I think jewelry designers need to band together and stop giving their jewelry on consignment.

I think retailers need to understand the importance of being friendly to the silly little ingénue like me if they wish to prosper and continue to grow. It’s my opinion that no retail outfit is going to survive selling the same-old and not bringing in any fresh talent. Without new design (sometimes from still-unknown artists), I can already see those passionate and soul-searching millennials walking right back out of your store.

What’s next for me? I’ve happily landed in a place I least imagined, in marketing and consulting. I’m helping businesses make a difference and an impact in a sea of noise. And although I’m not a millennial (I’m on the Gen X-Gen Y cusp), I’ve made a conscious decision to only work with companies, big and small, that want to leave the world a little better than they found it.

In the meantime, I hope another jewelry designer fills this space and keeps the Designer’s Diary column for National Jeweler alive. The designer voice desperately needs to be heard.

Thank you to everyone who has reached out from across the globe to check in and see how I’m doing. I’m humbled by how small this $62 billion industry can be and what we do in times of crisis to look out for one another.

I’ve landed on my feet and I’m coming back to National Jeweler with a renewed sense of enthusiasm. You’ll be hearing more from me in my new, upcoming marketing column. I’m more focused than ever in helping jewelry designers be heard. I’m hoping my failure is the seed of their success.

Jacqueline Stone has a background in finance, marketing, advertising, product development, fine jewelry manufacturing, design and sourcing. She was the chief creative officer of her company, Salt + Stone and now is the CEO of a marketing consulting business, Noisemaker Marketing. Stone can still be reached at saltandstone@gmail.com.
Jacqueline Stoneis a recovering jewelry designer who now works in marketing and runs her own e-commerce site, TotemsandTarot.com.

The Latest

Alan Zimmer
Events & AwardsMar 14, 2025
JVC Reveals Recipient of Stanley Schechter Award

Reeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.

Sorellina’s Aries Zodiac Pendant
CollectionsMar 14, 2025
Piece of the Week: Sorellina’s Aries Zodiac Pendant

The piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.

Tanishq Atlanta store
MajorsMar 13, 2025
Tanishq Opens 2 New Stores in the U.S.

The Indian jewelry brand recently opened stores in Atlanta and Seattle.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the Future

Supplier Spotlight Sponsored by GIA

Woman wearing Brilliant Earth jewelry
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement Recovery

CEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.

Weekly QuizMar 14, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Chopard Insofu emerald collection
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald

The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.

Chris Anderson
MajorsMar 13, 2025
Jewelers Mutual Names New CFO, Treasurer

Chris Anderson is joining the insurance provider as the new chief financial officer and treasurer.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Jewelers of America’s new natural and lab-grown diamond brochure
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds

Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.

A rough diamond and a polished diamond
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025

The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.

New Gem & Jewellery Export Promotion Council Chairman Kirit Bhansali
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit Bhansali

Bhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.

Limelight Lab Grown Diamond store in India
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond Sector

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Diamonds Do Good honoree Govind Dholakia at medical camp
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees

Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.

Medieval sapphire bishop ring
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for Sale

A metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.

JA New York sign
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo Lineups

Organizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.

Jewelers Vigilance Committee annual luncheon 2025 logo
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC Luncheon

Kenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.

Jaythan Lawrence Gilder and body scan
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry

The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.

Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red Carpet

Ahead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.

Marco Bicego 25 Years Campaign Isabeli Fontana
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, Campaign

Founded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.

Hill & Co The List
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer Database

Those attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.

Amy-Elise Signeavsky GIA
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual Luncheon

The organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.

Picture of Terry Chandler, president and CEO of the Diamond Council of America
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA

Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.

MaeVona King of the Mountains Torc
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ Collection

Scottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.

The Jewelry Symposium 2025 Scholarship Winners
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship Winners

Ahead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.

Gem Awards New York City
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award

The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.

Jane Fonda, America Ferrera, Mariska Hargitay, Laura Harrier, Mattia Furlani, Gianvito Martino, Sabina Belli in Pomellato International Women’s Day campaign
MajorsMar 07, 2025
Jane Fonda, Mariska Hargitay Star in Pomellato’s IWD Campaign

The annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.

Yeprem Golden Strada Statement Necklace
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ Necklace

The statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.

×

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