Sourcing

After More than 50 Years, Kassoy Showroom Set to Close

SourcingAug 02, 2016

After More than 50 Years, Kassoy Showroom Set to Close

The increasing amount of business done online is part of the reason the company has decided to jettison its physical space in the Diamond District.

New York--Kassoy LLC, a company that’s been a supplier to the jewelry industry since 1936, announced Monday that it’s shuttering its New York City showroom.

Beginning Sept. 1, the company will be operating exclusively out of its Plainview, N.Y. headquarters.

The Kassoy showroom is located at 28 W. 47th St. in Manhattan’s Diamond District and has been a neighborhood mainstay for more than 50 years.

It is a place where U.S. jewelers and overseas buyers doing business on 47th Street come to see, touch and feel the various instruments, machines and other supplies made by Kassoy, which got its start in the industry making supplies for diamond dealers.

The showroom is located on the second floor of a mixed-use building owned by the Dyckman family, a family whose patriarch, Moses Dyckman, was one of the first jewelers to migrate north from the Canal-Bowery area back in the 1940s. (The family also still owns 73 W. 47th St., which is called Dyckman’s Jewelry Exchange.)

On the street level at 28 W. 47th St. is a jewelry store, Avianne & Co. Jewelers, and above the Kassoy showroom are six apartments that the Dyckman family rents out, Jacob Dyckman said.

Kassoy said it’s moving out because so much of the jewelry business has migrated online and because of the “swiftly changing landscape of the Diamond District.”

Extell Development, the company that built the new International Gem Tower, has bought up a lot of buildings in and around 47th Street, and at least 10 will be demolished in the near future. Speculation is that the company will construct a tower in the neighborhood that is a mix of hotel, residences and commercial space.

Jacob Dyckman said despite all the changes taking place in the Diamond District, the family has no intention of parting with the building his father bought nearly eight decades ago.

While there are a lot of buildings in the neighborhood that have been sold and are marked for demolition, “This is not one of them,” he said.

Dyckman said they have started the process of finding new tenants to fill the space being vacated by Kassoy.

Beginning Sept. 1, Kassoy’s brick-and-mortar showroom will live online only at Kassoy.com, and can be accessed 24/7. The company said product specialists and customer service representatives will be available Monday through Friday from 8:30 a.m. to 6 p.m. EST to answer questions and provide technical support.

For more information, visit Kassoy’s

website or call 800-452-7769.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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