August 5, 1999
Journal Spotlights High-End Independents
In a page one story today, The Wall Street Journal looks in-depth at how successful high-end independent jewelers continue to thrive despite the invasion of their markets by national chains with luxury reputations such as Tiffany & Co., Cartier and the new The Galleries of Neiman Marcus stand-alone jewelry stores operated by the Texas department store behemoth.
WSJ credits two booms for creating this survival ability the booming stock market and the Baby Boom. Due to the strong stock market, all luxury goods sales are growing steadily. As the Baby Boom enters the prime jewelry-buying age category, 55 to 64, the market for luxury jewelry is expected to grow even more. Bolstering independent jeweler's hold on that market is consumer distrust of chain operations, even those with good reputations, says WSJ.
- by Liz Smutko