Bankruptcy filings are shaking up the jewelry industry in the US + elsewhere, and when you talk to industry analysts they say it’s too early to tell what the fallout would be as a result of the peculiar trend where well-known jewelry retailers are going belly-up + when I look around I see a unique jewelry company: Borsheims + I am impressed + there is a lesson for all in the gem & jewelry sector.
Here is what Berkshire Hathaway website (via Warren E Buffet, CEO) says about Borsheim's:
Fine jewelry, watches and giftware will almost certainly cost you less at Borsheim's. I've looked at the figures for all publicly-owned jewelry companies and the contrast with Borsheim's is startling. Our one-store operation, with its huge volume, enables us to operate with costs that are fully 15-20 percentage points below those incurred by our competitors. We pass the benefits of this low-cost structure along to our customers. Every year Borsheim's sends out thousands of selections to customers who want a long-distance opportunity to inspect what it offers and decide which, if any, item they'd like to purchase. We do a huge amount of business in this low-key way, which allows the shopper to conveniently see the exceptional values that we offer. Call Joe Corritore or Susan Jacques at Borsheim's (800-642-4438) and save substantial money on your next purchase of jewelry.
Useful links:
www.borsheims.com
www.berkshirehathaway.com
‘If you don't know jewelry, know the jeweler.’ - Warren E. Buffett
I think it's the best advice.
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