Jared’s New Bright Spot: A Custom Jewelry Concept

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In an effort to differentiate its elevated Jared brand from the other jewelry chains it operates, including Kay Jewelers, Zales and Piercing Pogoa, Signet Jewelers Ltd. SIG +5.8% has launched The Foundry, a shop-in-shop concept where clients can have their fantasy ornaments realized in precious metals, diamonds and precious and semi-precious gem stones.To get more news about Personalized Jewelry, you can visit koalaprint.com official website.

When Signet in June announced that it was exiting the charm-based Pandora business, which was featured in shop-in-shops at nearly all 240 Jared stores, it recaptured the space and has replaced some of the 10-foot by 10-foot areas Pandora occupied with The Foundry.

Custom jewelry, once associated with high jewelry houses such as Cartier and Van Cleef & Arpels, which created exquisite pieces for Vanderbilts, Astors and Hollywood royalty such as Elizabeth Taylor, has become more affordable with computer technology and 3D printing.“Jewelry has always been about personal expression and that led to this explosion of desire to build truly custom pieces,” said Bill Brace, general manager of Jared, and chief market officer of Signet. “Most people think custom jewelry is a little beyond their reach. We’re trying to democratize bespoke jewelry for everybody.”

Personalized jewelry can be as simple as a bride and groom’s declarations of love engraved inside one another’s wedding bands to a multi-carat diamond ring sprung from a husband’s imagination and created for his wife’s anniversary.That’s what a California client did with the help of a Jared jeweler, recently designing a 10-carat cushion-cut diamond ring and a 5-carat diamond eternity band for $240,000 for his wife to celebrate their 10th anniversary, Brace said.

The Foundry has the capabilities, both operationally and in terms of design, to create any fantasy piece of jewelry from scratch, as well as repurposing heirloom pieces and matching missing earrings.

“It brings the customization concept to an entirely different level,” Brace said, estimating that The Foundry will do in excess of $30 million in sales in its first year. “At one time this type of service could only be accessed through very high-end private jewelers.”

There are about 1,400 jewelers working at Jared’s 240 stores, which gives the brand an advantage over some of its siblings in the Signet stable. “It’s a capability that’s made Jared unique, and we’re are leaning into it and providing customers with solutions, enabling them to personalize more than they previously could have. We’re working to build up the bandwidth of our configurators and bring it to more brands.”Placing The Foundry on the sales floor is as much about catching the interest of casual shoppers as it is about pleasing the client making a custom jewelry purchase. “By not putting The Foundry in the back room, we’re making a statement about what’s possible at Jared,” Brace said. “It’s a bit of in-store theater. People come in and a lightbulb goes off. It creates a focal point.”

Some clients go to the store knowing exactly what they want to design, and others need more inspiration. “They may see something in one of our cases and say, ‘I like this style, but I’d like to change this,’” Brace said. “That’s where we tend to open up a conversation about custom. It opens a lot of avenues for people to get what they really want. It’s bringing in new customers who didn’t realize Jared was capable of this kind of service and tier of jewelry.

“Some people have a very specific vision, others take a back seat to the expertise of our designers,” Brace added. “We’re all about delighting people and realizing their own vision so we don’t necessarily restrict them, but there are parameters for what’s possible and we want to make sure it’s constructed in a way that’s durable.”

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