TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
MajorsMar 15, 2016
Column: Looking Back and Thinking Forward, Part I
In a two-part column, Jan Brassem relives the closing of his jewelry manufacturing firm in the early ‘80s and the 4 lessons it taught him about success in the jewelry business. Part I: The good old days.
Leading U.S. business schools now are using case histories (“cases”) as teaching tools. Professors feel actual cases are valuable problem-solving generators because a) they describe specific corporate problems/opportunities and b) they allow students to strategize and solve problems and seize opportunities.
The list is problematic: two economic recessions, increasing gold prices, disappearing distribution channels, new computer applications and changing demographics.
There are no simple answers on how to deal with the array of changes confronting this company. The only thing you should ask yourself, “What would I have done under these circumstances?”
----
Background. It was the best of times. To be more precise, they were exciting and profitable days. That was only the initial part of the saga, the best part. The difficult component followed. Before I start, however, here’s the back story.
Having fulfilled my military service, earned an MBA (paid for by Uncle Sam) and worked for several years in the venture capital field, it was high time to find a career that would leverage my talents and interests. So after months of searching, applying financial analytics and negotiations, I, along with the financial assistance again from the U.S. Department of Veterans Affairs (the VA) and a group of investors, targeted and acquired a 250-employee jewelry firm in 1978.
It manufactured (contracted, as it was called in those days) low-end gold and silver jewelry castings that we polished and set with inexpensive stones and diamonds and shipped. I was still a young guy, in my mid-30s, on a fast track. Years later, that fast track would hit a cliff.
Dare I say it … Things started wonderfully. In those lofty days, (late ‘60s to the mid-80s), the jewelry industry was a demand-driven business. Most manufacturers, especially like the one I now owned, spent most of their focus on shipping customer orders by working five-and-a-half days a week.
Our customers, a mix of young female Gen Xers and some baby boomers, were high school, college and young working women with limited disposable income. The gold jewelry we produced--around 10,000 units per month--luckily hit their price point exactly. We had several competitors but, like us, they didn’t see a need to do any
Editors' Picks
Sponsored by
marketing. There was, after all, enough business to go around.
In those days, jewelry retailers were supported by the extremely successful marketing campaigns of two industry giants, De Beers and the World Gold Council; namely, WGC’s, million-dollar “Nothing Feels Like Real Gold” campaign, and De Beers’ diamond promotion, “A Diamond Is Forever.” Both were big hits.
The Jewelers of America (JA) trade shows were held at the Hilton Hotel in New York City. Customers stopped in at your booth, or suite, and met you for dinner at the hotel after the show closed for the day. It became a place to mix business with friendship. The show was fun and successful.
But wait! The price of gold was starting to inch up from a low of $40/ounce and already was at $308/ounce.
If you mentioned the words “social networking,” the probable response would be, “Huh?” Furthermore, in those pre-Microsoft Excel days, you’d be laboring over spreadsheets with paper, pencil, adding machine and eraser to manually compute totals.
Social networking, about to burst on the marketing scene, was on the horizon. The embryonic HSN, and later QVC, were just starting to sell jewelry via TV. Both were our customers. You get the muddy picture of this rapidly changing--and confusing--period.
As if that wasn’t enough, we were heading into President Reagan’s W-shaped, or double-dip, recession.
Everybody stopped smiling … An industry in disruption. To be sure, some prescient industry leaders were already mindful of the dark clouds.
For example, Gerry Peterson, a titular industry leader in high-end diamond ring designing and manufacturing at that time, sold his company, Peterson Enterprises Inc., to an Indian diamond company in 1980.
Ultimately, the rising gold price was starting to filter down to those retailers targeting baby boomers and remaining Gen Xers.
By 1980, gold, on average, was at $615/ounce. Industry disruption was at hand.
Jan Brassem is a senior partner at MainBrace Global Partners, a global jewelry advisory and M&A firm with offices in New York and Hong Kong. You can e-mail him at Jan-at-MainBraceGlobalPartners.com.
In those days, jewelry retailers were supported by the extremely successful marketing campaigns of two industry giants, De Beers and the World Gold Council; namely, WGC’s, million-dollar “Nothing Feels Like Real Gold” campaign, and De Beers’ diamond promotion, “A Diamond Is Forever.” Both were big hits.
The Jewelers of America (JA) trade shows were held at the Hilton Hotel in New York City. Customers stopped in at your booth, or suite, and met you for dinner at the hotel after the show closed for the day. It became a place to mix business with friendship. The show was fun and successful.
But wait! The price of gold was starting to inch up from a low of $40/ounce and already was at $308/ounce.
If you mentioned the words “social networking,” the probable response would be, “Huh?” Furthermore, in those pre-Microsoft Excel days, you’d be laboring over spreadsheets with paper, pencil, adding machine and eraser to manually compute totals.
Social networking, about to burst on the marketing scene, was on the horizon. The embryonic HSN, and later QVC, were just starting to sell jewelry via TV. Both were our customers. You get the muddy picture of this rapidly changing--and confusing--period.
As if that wasn’t enough, we were heading into President Reagan’s W-shaped, or double-dip, recession.
Everybody stopped smiling … An industry in disruption. To be sure, some prescient industry leaders were already mindful of the dark clouds.
For example, Gerry Peterson, a titular industry leader in high-end diamond ring designing and manufacturing at that time, sold his company, Peterson Enterprises Inc., to an Indian diamond company in 1980.
Ultimately, the rising gold price was starting to filter down to those retailers targeting baby boomers and remaining Gen Xers.
By 1980, gold, on average, was at $615/ounce. Industry disruption was at hand.
Jan Brassem is a senior partner at MainBrace Global Partners, a global jewelry advisory and M&A firm with offices in New York and Hong Kong. You can e-mail him at Jan-at-MainBraceGlobalPartners.com.
More on Majors
The Latest
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
