6 STATE OF THE MAJORS 2017 letter from the publisher I asked my friend Dave Siminski of United Precious Metals Refining what his company did when they received pieces that were unusual or antique-looking and, maybe, had some additional val- ue because of craftsmanship or when they were made. “We melt them,” was his succinct and immediate response. What, at first, sounded harsh to me made sense the more I thought about it. Sometimes, things that are old and seem valuable need to be scrapped so that something new and wonderful can be made. The metal in those old pieces is melted and refined so designers like Malak Atut and Julie Romanenko can create something new and move our industry forward, one piece at a time. I feel we have reached a moment in our industry’s development where we must be brave enough to scrap some of our long-standing methods and philosophies. Our industry hit a record-high number in sales last year, and online sales were a big part of that. It has become clear that it is not enough to embrace the internet; the jewelry industry must innovate through it, while also continuing to improve the in-store experience for consumers. Many of the companies in this issue have done both and should be applauded and, more importantly, emulated. However, an idea that has been around a long time, has been a bit abandoned lately and that should not be scrapped is the idea that we are all in this together. When I started in this industry in manufacturing and as a road rep, the retailers I serviced treated me as a partner in the sales process and I treated them the same. We’ve lost some of that these past few years. If our industry is going to be truly healthy, and the increase in overall sales is going to benefit everyone, working together will be at the heart of it. Without us all supporting each other and instead trying to do only what’s best for ourselves, we will end up with nothing. Is success at all costs still success? Maybe it’s an old-fashioned and slightly naïve sentiment, but, as much as it was a key to the past growth of the jewelry business, mutually beneficial relationships are the key to its future as well. We ARE all in this together. Things can transform, yes, but what is old can also be new again, without drastic change. The State of the Majors is like that. It was an industry staple for a long time before it went on hiatus. When we brought it back last year, we updated the information on the “$100 Million Supersellers” and “Top 50 Retail Jewelry Chains” by store count lists but changing their content was never up for serious discussion. They are the core of what makes this issue work. It wouldn’t exist without them. It also would not exist without the hard work of Michelle Graff, Brecken Branstrator, Ashley Davis, Danielle Max, Edahn Golan, Peggy Jo Donahue (who pulled double duty this year doing research and copy editing) Molly Fallon, Susie Biddle, Bhupal Potdar and Lauren Thompson. And, thanks to the National Jeweler Editorial Advisory Board and Jewelers of America President and CEO Dave Bonaparte for their input and support. Matthew Tratner October 2017 PUBLISHER Matthew Tratner mtratner@nationaljeweler.com | 646-658-5805 EDITOR-IN-CHIEF Michelle Graff michelle.graff@nationaljeweler.com | 212-687-2758 EDITORIAL Senior Editor Brecken Branstrator brecken.branstrator@nationaljeweler.com | 212-687-2763 Associate Editor Ashley Davis ashley.davis@nationaljeweler.com | 646-658-5802 CONTRIBUTORS Research Edahn Golan, Peggy Jo Donahue Editorial Danielle Max Copy Editor Peggy Jo Donahue Design and Layout Weswen Design MARKETING & COMMUNICATIONS Director of Marketing & Communications Molly Fallon | mfallon@jewelers.org Assoc. Dir. of Communications & Digital Development Lauren Thompson | lthompson@jewelers.org SALES Susie Biddle sbiddle@nationaljeweler.com | 646-658-0246 India Representative Bhupal Potdar | bhupalpotdar@gmail.com | +91 - 98211 51035 EDITORIAL ADVISORY BOARD Ryan Berg, Lee Michaels Fine Jewelers Cathy Calhoun, Calhoun Jewelers Bill Farmer, Jr., Farmer’s Jewelry Karen Goracke, Borsheims Larry Pelzel, Neiman Marcus Craig Rottenberg, Long’s Jewelers PRESIDENT & CEO David J. Bonaparte BOARD OF DIRECTORS 120 Broadway, Suite 2820 | New York, NY 10271 | www.nationaljeweler.com John Henne, Chairman, Henne Jewelers HollyWesche,Chair-Elect,WescheJewelers MarcBridge,ViceChair,BenBridgeJeweler Cathy Tivol, Vice Chair, TIVOL Robert F. Moeller II, Treasurer, R.F. Moeller Jeweler Coleman Clark, Secretary, B.C. Clark Jewelers Ryan Berg, Past Board Chair, Lee Michaels Fine Jewelry Mercedes Abramo, Cartier North America Mike Alexander, Jewelers Mutual Cathy Calhoun, Calhoun Jewelers Jenny Caro, Jewelry By Designs Ronda Daily, Bremer Jewelry Peter Engel, Fred Meyer Jewelers Karen Goracke, Borsheims Elise Greenberg, Greenberg’s Jewelers Efraim Grinberg, Movado Group, Inc. Simon Katz, Simons Jewelers Chuck Kuba, Iowa Diamond Joseph Molfese, Bella Cosa Jewelers Steve Padis, Padis Jewelers Matthew Rosenheim, Tiny Jewel Box Craig Rottenberg, Long’s Jewelers Lane Schiffman, Schiffman’s Steve Velasquez, Madison Jewelers Betsy Wolgemuth, Koser Jewelers