The store, located in Shanghai’s prestigious Qiantan Taikoo Li shopping center, opened June 28 with a special event including Chopard’s co-president and artistic director Caroline Scheufele and brand ambassador of joy, actress Bai Lu.

Balancing luxury with the modern aesthetic of Qiantan Taikoo Li, the boutique serves as a model for displaying Chopard’s elegant watches and jewelry and focusing on its expertise in jewelry and devotion to craftsmanship, brand representatives tell JCK.

Its location in one of Shanghai’s newest high-end commercial areas—designed to be a destination for business and shopping—is key for Chopard because it sets a tone for giving clients a luxurious shopping experience in one of the world’s most glamorous cities, brand reps say.

The boutique’s exterior starts to tell the brand’s story. Its cursive logo is located above the doors, which are outlined with a dark trim that contrasts with the light tones of the building, drawing the eye to the entrance. For the grand opening, Chopard used a royal blue for a welcoming rug and floral wall, adding to that exterior experience.

Upon entering, clients are welcomed into a large space that Chopard describes as homey and intimate, with light walls, textured wood trim, and soft lighting. Off to one side, clients can catch a glimpse of the exclusive VIP area, which is done in a rich, romantic purple for a sumptuous look.

In the main area, Chopard’s jewelry and watches are inside refined display cases, including a showstopping round case in the middle of the space. At a simple, sleek desk, clients can meet with Chopard representatives to select their next piece.

The VIP area has a more casual feel, with a soft purple couch for lounging as you look at the jewelry. Contemporary artwork on the walls, along with a few display cases, create a comfortable place for clients to relax as they shop.

The Shanghai boutique features the brand’s Happy Hearts and Happy Diamonds collections, which Lu wore during the opening ceremony. Also attending the event were Tasso von Berlepsch, managing director of Chopard China, and Gu Yuzhen, general manager of the new boutique.

Top: Chopard’s newest boutique, in Qiantan Taikoo Li, Shanghai, held its grand opening in late June. (Photos courtesy of Chopard)

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The ranking, compiled by Kantar Retail IQ, ballparked Tiffany’s U.S. retail sales last year at $1.983 billion, up from $1.746 billion in 2021, the year Tiffany was acquired by LVMH. The $247 million gain was enough to place Tiffany 16th on the list.

“People with money went to retailers that were happy to take their money,” David Marcotte, Kantar senior vice president, told the NRF. “Young people with disposable income are interested in getting quality goods. Last year, some of these retailers were successful because their inventory was never at risk. They had product to sell.”

Kantar said NRF relies on estimates when the figures are not self-reported; LVMH does not give its brands’ individual sales results.

LVMH recently said it plans to remodel Tiffany’s entire fleet of over 300 stores. Cosmetics chain Sephora, also owned by LVMH, ranked 14th on the NRF roster.

(Photo courtesy of Tiffany)

Around 2004, shortly after the first dot-com bubble burst, Sodhani decided to go backpacking in India. The climate for tech startups was “horrible,” he tells JCK, and it seemed like a good time to reconnect with his roots. He was due to fly home via Mumbai when his father told him that a job at a local diamond company was available to him, if he wanted it.

“I’m like, ‘Nice try, dad,’” Sodhani says. “But my sister said, ‘Why don’t you take the job and then you can stay in Bombay?’ I started the next morning at Rosy Blue.”

Working at one of the world’s largest diamond manufacturers was a promising start to a career that soon segued into the fine jewelry business. In 2006, Sodhani founded ILA, a diamond jewelry brand currently sold at Saks Fifth Avenue, Moda Operandi, Eliza Page, and scores of additional jewelry stores around the United States as well as internationally.

In January 2021, at the height of the pandemic, Sodhani brought his various interests full circle with the debut of Unbridaled AI, a company offering diamond curation software, Unbridaled Diamonds, powered by artificial intelligence (AI). Designed to simplify and streamline the process of selecting the best diamonds at the best price in real time, the technology is focused on shortening the selection process and helping retailers close the sale. Thanks to its numerous sightholder and diamond manufacturing partners, the company ships diamonds directly from India and overseas to the United States.

“As an engineer, someone who came from a deep technical background, I realized the state of software in our industry was really ancient,” Sodhani tells JCK. “It was hard to sell a diamond to a customer for an engagement ring, and it was also difficult to explain the intricacies of a diamond so that they felt educated and comfortable enough to buy. I thought there had to be a better way.”

Sodhani reasoned that the amount of data available on certified diamonds would be enough to give a computer capable of machine learning, a subset of AI that involves training machines to learn from data, the ability to select the best diamonds, thereby freeing up the time a retailer had to spend sourcing them.

“There’s a lot of data on these certified diamonds from the labs on things like angles and inclusions, and sightholders have even more info: ‘Is the diamond eye clean? What is the shape?’” Sodhani says. “With all this data, we hypothesized that artificial intelligence should be able to look through all this data and find the best diamond. It’s what a gemologist would do if you told him what you wanted. He’d look at what’s available and find the best one. So we started writing software and using AI to see if it could provide good results, and it turns out, it provides amazing results. We patented it.”

The curation technology is designed to work online as well as in a physical environment “because every store will have different requirements,” Sodhani says. “Some people, for example, will only want to show H color and above. The system is flexible and you can train it and then it figures out the best diamonds.”

“Unbridaled Diamonds takes an appointment that typically took two to three weeks down to 10 to 15 minutes,” Sodhani wrote in a follow-up email.

But that was just the beginning. Sodhani realized that as his business grew, it required more nuanced and robust management software. “I pretty much bought every piece of software out there to run a diamond jewelry company and they were all horrible,” he says, referring to software that could be used to manage inventory, manufacturing, shipping, invoicing, etc. Once again, Sodhani began writing his own software.

“We built it to manage our own operations but realized we were onto something big,” Sodhani says. “Most small- to medium-size enterprises run their businesses off Excel or some kind of spreadsheet; they don’t have software to run their business. That’s the space we’re filling.”

The company introduced Unbridaled OS at the recent JCK Las Vegas show. “It’s jewelry management software specifically designed for our industry, and it syncs with modern software that most people would use, mainly Shopify and Quickbooks,” Sodhani says.

“Most times, if you have Excel or Quickbooks, you don’t have a good sense of the pulse of your business,” he adds. “It’s a challenge to understand what’s going on. Because our strength is in AI or machine learning, we’re building an AI copilot inside Unbridaled OS that’s constantly analyzing your data. Everything is integrated and stored in our system. So we know exactly what’s happening.”

The software can track inventory across multiple locations, manage deadlines, and leverage analytics to deliver insights into sales performance, among other key features.

Sodhani says his goal is to help owners run their businesses better. “An owner has to wear so many hats: designing, sales, manufacturing, sourcing,” he says. “How do you manage all those and grow a company? You need help and that is where these AI assistants come in.”

“We have to redo basically the whole fleet,” said chief financial officer Jean-Jacques Guiony on a conference call following the release of LVMH’s latest results, according to a SeekingAlpha transcript. “Not one single store, apart from the few ones that we have already renovated, are up to our standards. And it will take time and a lot of money to redo them.

“We won’t do them all in the format of [Tiffany’s remodeled New York City flagship]. We’ll be adapting to the various markets. But at the end of the day, what we want is within three, four years max to have redone most of the network of stores at Tiffany. And that’s a significant capital cost that we have to bear. But frankly what we want to do with the brand cannot be done in the existing network.”

Guiony said that the new Tiffany flagship, which it’s dubbed the Landmark, “is doing very well, if not better than our plans.”

The New York store symbolizes “what we want the brand to become,” he said. “The benefit of the Landmark is not only the business we do there, but the impact it has on the global image of the brand.”

LVMH bought Tiffany in 2021 for $16 billion. Its decision to remodel all its stores contradicts LVMH’s initial post-takeover assertions that it wouldn’t change anything about the way Tiffany did business. While those assurances are not uncommon following a corporate acquisition, LVMH was unusually emphatic about them.

“For a long time, it was not obvious to us what we could do better [at Tiffany],” Guiony said in 2019. “The answer is that we would not do much better or much differently, but we will enable [its] strategy.”

Some veterans have criticized the LVMH makeovers. Tiffany “used to be a very warm, open place,” one former executive told JCK last year. “It’s become more exclusive. When you see the new store design in Boston, you wouldn’t think people would want to spend $200 in there.”

However, on X (formerly Twitter), analyst Paul Zimnisky said the move makes sense. “The acquisition has already been quite financially successful for them,” he wrote. “They are just reinvesting in the business, which is what more jewelers should do.”

Whether this ambitious strategy will pay off is another matter. Pauline Brown, former chair of LVMH North America and a professor at Columbia Business School, told the Financial Times in April she had never seen a jewelry company pour money into a brand “on the scale that LVMH needs it to work to see a return on its investment”

LVMH does not provide detail on the performance of individual retailers, but with its latest financial results, it said Tiffany showed “impressive growth in high jewelry, and strong creative momentum.”

Top: Tiffany’s remodeled Ginza store in Tokyo (photo courtesy of LVMH)

“It has been a whirlwind of a time—crazy, but all in a good way,” says Chemla, noting that the playful pieces in her new Madison collection pay homage to these milestones.

Chemla opened the Alison Lou flagship store, at 994B Madison Ave. in New York City, in September; its red carpet and furnishings, gold accents, and white walls reflect the brightly colored jewelry Alison Lou is known for, she says.

The Madison capsule collection complements the store’s gold decor and bursts of color with 14k gold and lab-grown stones. Its 18 pieces have Alison Lou’s signature cocktail silhouettes but in more casual designs that are easy to pair with any outfit and season, Chemla says.

“What I love about the Madison collection is how wearable it is,” she says. “Our cocktail collection is one of our best-selling but can feel more evening. The Madison pieces are definitely more wearable day to day. The necklace is perfect for layering, the earrings are amazing with a T-shirt or sundress. I just love them all.”

The Madison capsule includes signet rings with round or rectangular stones, and bezel-set stone necklaces and stud and drop earrings in those shapes plus pear and heart shapes. The collection also introduces a bezel huggie earring, which allows the wearer to mix and match gemstone charms.

Chemla describes both the collection and the store as classic, timeless, modern, and colorful. “Our store is the most elevated version of Alison Lou, and this collection reflects that. It is still very much a reflection of what is signature of Alison Lou—gemstones, enamel, and yellow gold—but with a twist,” Chemla says. “I love having a space where our customers can really get a sense of who we are and all that we have to offer.”

Customers have been enjoying the store, which Chemla says is in her dream New York location. She hopes shoppers feel the love she and her collaborative team bring to the space and to the company overall. Everything the female-founded and -operated brand sells is manufactured in New York City, Chemla says.

“Our new flagship is located underneath the Mark Hotel. It is the perfect jewel box for us to showcase the brand and have that one-on-one experience with the customer again,” Chemla says. “COVID really changed the industry, and people were solely shopping online for so long. I think people are loving in-person interactions again. Jewelry is so personal. You need to be able to touch it and try it on to build that emotional connection.”

Top: The gold necklace with round lab-grown colored stone is in Alison Lou’s Madison capsule collection, introduced in July to offer a more casual take on the cocktail silhouette. (Photos courtesy of Alison Lou)

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In this newly created role, Kelly will oversee operations and continued growth for Fourtané’s flagship location, along with a new retail expansion into women’s fine jewelry, slated for later this year.

Kelly was previously chief commercial officer for Hodinkee, the editorial and e-commerce website for luxury timepieces. Prior to joining Hodinkee, Kelly spearheaded the re-introduction of Rolex sister brand Tudor into the U.S. market. He has also worked at Vacheron Constantin and Blancpain.

“We are thrilled to have Russell join the Fourtané team at this crucial moment when our business is poised for significant growth,” said Josh Bonifas, a second-generation family owner of the store, in a statement.

(Photo courtesy of Fourtané)

Granted, the marketing budgets that allowed for these moments probably weren’t tiny; even so, the approaches are robust in sophisticated thinking, high-production aesthetics, and ingenuity—and that costs you nothing. Read on for my recap of the summer’s best collaborations, and consider how you might make them work for you.

MEJURI x VAN LEEUWEN

In June, press and influencers gathered at the Van Leeuwen ice cream shop in Williamsburg, Brooklyn, where they enjoyed a little sparkle alongside their scoops, courtesy of Mejuri. To celebrate the drop of new styles within its best-selling Charlotte Collection—a new, slimmer Charlotte ring silhouette and hoop charms, all in pastel, gelato-inspired hues of enamel—the brand staged a weekend-long pop-up shop done in colors that align with the new Charlotte pieces: pistachio, sweet cream, lavender, and cappuccino. Van Leeuwen served up complimentary ice cream in special custom flavors for the celebration (looks like our lady up at the top is enjoying a scoop of Pistachio Picnic—yum!).

STEPHANIE GOTTLIEB x MAGNUM

This month, collaboration queen Stephanie Gottlieb got together with Magnum Ice Cream (known for its decadent bars layered with premium chocolate—available at most grocery stores) to reveal her new More Is More collection.

“The More Is More collection is an outstanding example of maximalism, creativity, and craft that can be customized to an array of styles,”  Stephanie Gottlieb said in a statement. “Each piece is a subtle nod to Magnum ice cream’s iconic bars and will be sure to amp up any look this summer and beyond.”

How does an ice cream inspiration manifest in a jewelry design? The result is pretty…tasteful: six limited-edition jewelry pieces expressed in 14k gold with various combinations of chocolate and vanilla enamel, and caramel and white diamonds.

SYDNEY EVAN x THE SURF LODGE

Jewelry collabs centered on ice cream are pretty sweet. One more idea to try: collaborating with a local hotel. It’s a concept that worked well for jewelry brand Sydney Evan, which created a capsule collection with the Surf Lodge in honor of the Hamptons hot spot’s 15th anniversary.

The collection is inspired by the surf, sun, and laid-back vibes of the Surf Lodge’s location in Montauk, at the east end of New York’s Long Island: “Coming to the Surf Lodge is all about having fun and creating memories,” Jayma Cardoso, the hotel’s founder and creative director, said in a statement. “I loved the idea of designing a meaningful memento to share with our guests.”

Sydney Evan founder and designer Roseanne Karmas tells JCK, “Our collaboration with the Surf Lodge has performed extremely well, and I think it has a lot to do with the emotional aspect tied to the pieces. The jewelry serves as a  a reminder of special moments they had in Montauk and at the property.”

The two brands found each other because they share a publicist. In your neck of the woods, give it a think: Who do you know who could connect you to a local purveyor of sweet treats or everyone’s favorite place for a night out on the town? Start forging those relationships now so that you can leverage them next summer, and if you hurry, maybe even for the upcoming holiday season.

Top: Jewelry brand Mejuri recently used its big-city marketing chops to stage a pop-up at a Brooklyn ice cream shop, but the concept is applicable to any milieu. (Mejuri photos: Zev Starr-Tambor)

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Perry was a born businessman—he had his first paper route at age 8 and later sold magazines door to door, according to The Charlotte Ledger. After a stint in the Army, he became manager of a local jewelry franchise, the Jewel Box. In 1976, he met his wife, Priscilla, and two years later they opened their first store, Perry’s Jewelry Emporium.

Its early years were modest—the two “would comb estate sales in their Toyota station wagon to build inventory,” according to its site. “They knew they were in business when they had filled up more than 50 coffee cans with jewelry.”

But from there, the store became a Charlotte landmark, in part because of Perry’s tireless efforts for local charities. A licensed auctioneer, Perry, armed with a hammer and quick wit, raised $55 million for organizations like the Allegro Foundation, Second Harvest Foodbank of Metrolina, Cystic Fibrosis Foundation, Patriot Military Family Foundation, and Make-A-Wish Foundation.

In 2015, the Perrys’ store was named one of Charlotte’s top family businesses by the Charlotte Business Journal. It rebranded in 2018 as Perry’s Diamonds & Estate Jewelry, as part of its 40th birthday celebration. The couple’s daughters Hadley and Brittany both work in the store, which now employs some 30 people, including 10 GIA-graduate gemologists.

“Ernie’s honesty and integrity in business, and his loyalty to those who worked for him, is of a type rarely seen in today’s world,” said a store statement. “Ernie valued the relationships he built with each and every one of his customers and vendors and impressed upon his staff the importance of treating everyone with respect, kindness, and dignity.”

Perry is survived by Priscilla, his wife of 45 years; daughters Hadley, Brittany, Ginger, and Candice; and six grandchildren. In lieu of flowers, the family asks people to make a donation to the charitable organization of their choice.

(Photos courtesy of Perry’s Diamonds & Estate Jewelry)

Some 323 North American jewelry businesses—271 retailers, 32 wholesalers, and 20 manufacturers—closed in the first half of 2023, an 18% drop from the first half of 2022, according to the Jewelers Board of Trade (JBT). All those discontinuances were in the United States, except for 13 in Canada.

A company has a discontinuance, JBT says, when it ceases operations, is merged or acquired, or files for bankruptcy.

The new statistics reverse a trend of increasing closures. On the other hand, the number of companies entering the industry—which showed growth in the previous JBT report—fell 21% in the first half of 2023, from the same period the year before.

During the first six months of this year, JBT recorded 229 new jewelry businesses in the United States—more than two-thirds of them retailers, the rest wholesalers or manufacturers. The largest number opened in the Northeast (71), followed by the Southeast (62), the Southwest (37), the South Central region (31), North Central (20), and the Northwest (8).

Overall, JBT stats reflected continued industry consolidation. Its database listed 23,424 U.S. jewelry businesses at midyear, around a 2.3% decrease from 2022. That breaks down to 17,760 retailers, 3,394 wholesalers, and 2,270 manufacturers.

(Photo: Getty Images)

Benavidez had pleaded guilty on Feb. 3 to one count of making a false tax return.

According to court documents, as the owner of Master Jewelers, Benavidez had responsibility reporting any salary, wages, or other compensation he was paid, but he regularly diverted significant portions of Master Jewelers’ gross sales into his personal bank accounts for the purpose of paying less taxes.

Prosecutors also charged that Benavidez occasionally directed customers to pay him personally for work he completed on behalf of the store. Master Jewelers sold significant amounts of scrap metal as part of its business, and court papers said Benavidez deposited the proceeds into his personal bank account instead of the corporate account, so he could avoid paying taxes.

In total, between 2013 and 2017 Benavidez allegedly concealed $432,373.42 in Master Jewelers sales, which resulted in unpaid tax liabilities of $147,006.96.

Benavidez’s six months in prison will be followed by a year of supervised release. His attorney asked Judge Wilhelmina M. Wright for leniency, noting that he is a devoted father and husband who regularly offers services for free to military veterans. This is his first criminal offense.

His attorney could not be reached for comment.

(Photo: Getty Images)