RAPAPORT… The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, Rapaport Diamond Report explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked: “Other than wedding bands, do you stock men’s fashion jewelry? How does it sell?”
PHILIP DUPUIS, OWNER
DUPUIS ET FILS JEWELERS AND GOLDSMITHS
JACKSON, MICHIGAN
“We sell very little men’s jewelry. Occasionally, they might buy a watch for themselves but wedding rings are probably about the only piece of jewelry they buy. In the past, they might occasionally have bought a gold chain or bracelet, but that’s slowed down considerably because of the high cost of precious metals. Men’s jewelry has pretty much dwindled. And a lot of that, too, is due to the fact that many corporate offices aren’t formal any more, so there isn’t the need for cufflinks and tie bars and tie tacks, so that type of business has been pretty much lost.
“In terms of the wedding bands, men are buying bands, but the trend now seems to be toward the tungsten and titanium and stainless, as opposed to the gold. It’s probably in part because of cost but I think it’s also the durability of these metals. Men are impressed with the durability.”
SONNY MORSTEIN, OWNER
MORSTEIN’S JEWELERS
BALTIMORE, MARYLAND
“Men look at the price of gold — and they do want gold — and they freak out. I carry some rings in silver and diamonds but that’s assuming you want it in white and men have been much slower to turn to that. Women have gone to silver jewelry more quickly. Women are used to the platinum look and the white gold look, so it’s not hard for them to translate their desire for jewelry into buying silver pieces at a lower price. But with men’s jewelry, sales are a very, very small margin. In gold chains, they do want yellow and they are in sticker shock when they see that what’s $1,500 now was $750 three or four years ago. As far as buying rings, the price of gold frightens them away.
“I sell wedding bands to men in the new metals. They are still buying engagement rings, which has not slowed up. It’s a staple. When you buy a $6,000 diamond, if the mounting is $300 or $500 or $700, it’s not a big deal. With wedding rings, eight out of ten we sell are alternative metals. Men love the lightness of titanium and they really like the price. And the same thing goes for tungsten. It’s amazing. I resisted the alternative metals for awhile. But men like it; they say, ‘Oh, it’s light, I can get used to wearing that.’ It’s a double sell — the lightness and the strength — combined with the price. It doesn’t carry over into other personal jewelry, but that doesn’t mean that won’t happen. Bling is out — all those fancy gold chains are out. We do have men’s jewelry but it’s slow. Gold-filled is not an issue — that I can sell.”
KATHERYNE MAULDIN, MANAGER,
ANTIQUE AND ESTATE JEWELRY
LEE MICHAELS FINE JEWELRY
BATON ROUGE, LOUISIANA
“I find that men are buying watches; we’re selling lots of watches lately. We’ve had a big uptick on Patek Philippes. We’ve started carrying the men’s lines of designer jewelry from David Yurman and John Hardy, and that seems to be selling. It’s definitely younger customers, under 40.”
KEN SHELTON, OWNER
KENNETH EDWARDS FINE JEWELERS
LITTLE ROCK, ARKANSAS
“I would say we’re selling less and less men’s jewelry; unless you consider watches, it’s pretty light. We do sell some titanium things, some newer metals pieces but again, it’s very light — less than 1 percent of our volume.
“In terms of just jewelry, this is about as light as I’ve ever seen. I think the gold pricing has something to do with it plus, ever since the economy turned, I find people are much more conservative and don’t want to be showy. So even if something is expensive, it can’t be over the top in the way it appears and that makes it even more difficult for a guy to wear something like a chain or bracelet. I don’t know that that’s the case, but my perception is that it could be an extension of the other things I’ve seen going on in jewelry. It has to seem tasteful.
“In wedding bands, the number-one seller for men is palladium. Men love palladium; it’s a different metal and the perception is that it is more durable. I think that’s a trend that will continue to grow. It’s not because it’s less expensive — that really has very little to do with the decision. Men like the fact that it’s a naturally white metal that tends to get shinier instead of duller. It’s the attributes of the metal that are really selling it.”
BOB SIROIS, OWNER
CLASSIQUE JEWELERS
FRISCO, TEXAS
“Men’s jewelry isn’t our forte in the store, but I am carrying the Scott Kay fashion line for men. I tried it out and we’re doing extremely well with it. So yes, men are buying a lot more in my store now. This is sterling silver with a touch of 18-karat gold. It’s bracelets, mostly, that are selling. They’re buying the bracelets and rings. I even sport a nice-looking ring myself that’s sterling silver and 18-karat gold. There are some rings with stones but I haven’t sold those yet. Typically, it’s sterling silver and 18-karat gold and the age group of men buying is probably 35 to 55.
“In terms of wedding bands, Scott Kay’s cobalt wedding ring line is selling incredibly well because gold is so high right now. We have tungsten and titanium rings as well, but the most successful is the cobalt because it looks just like 14-karat white gold.”
MARK LEIGH, OWNER/PRESIDENT
LEIGH JEWELERS
VERO BEACH, FLORIDA
“This store does not sell men’s jewelry. Demographically, it’s because our clientele is older, 55 to sometimes 70 years or older. Men will buy multiple watches — we’re Rolex jewelers — but no jewelry for themselves outside of that. Occasionally, their wives or significant others buy them cufflinks and studs sets because they sometimes have formal events to attend. But the men do not wear rings other than a wedding band. They don’t wear gentlemen’s bracelets or necklaces or anything that might be considered contemporary. They’re primarily old school.
“As far as wedding bands, it’s still platinum and 18-karat gold. Bridal is very minimal in terms of our business. We sell a lot of precious gems and diamond jewelry but it’s not engagement rings.”
JAMES ORLOFF, PRESIDENT
ORLOFF JEWELERS
FRESNO, CALIFORNIA
“We have the occasional man who buys jewelry for himself but mostly it’s still the wife or significant other buying it for him. The hot stuff right now is alternative metals. We’re seeing a surge in titanium, from rings to chains and pendants.
“And a lot of the guys are picking their own wedding bands and choosing titanium, as well as tungsten, a little bit. We are doing some titanium with ceramic and that’s pretty hot, too. I’m a gold loyalist but there’s some cool stuff coming out in titanium and tungsten from American companies. The look of titanium or alternative metals is uniquely different; it’s more fun, plus there’s the durability factor. It’s popular with the younger crowd — 20s and early 30s — the more mature crowd is still going to the precious metals.”
