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World of Desire
Designer jewelry and contemporary sophistication are on display at Cornell’s Jewelers in Rochester, New York.
By Joyce Kauf
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| Marco Bicego |
Our customers are more valuable than the gems we lock up at night,” says David Cornell, owner and chief executive officer (CEO) of Cornell’s Jewelers in Rochester, New York. It is a philosophy that he shares with his wife, Olivia, and one that they put into practice every day — from the selection of bridal, designer jewelry, watches and giftware to the many customer-friendly amenities in the store.
The company’s origins can be traced to 1923, when Harry Cornell, David’s father, began doing clock repairs for local jewelers. The company evolved into a wholesale operation that David took over in 1984. Within several years, in response to business and psychographic trends, the company’s focus shifted from wholesale to retail. Olivia, who has retail buying and merchandising experience, notes, “In 1991, the industry was changing rapidly. Designer jewelry started to become a more relevant factor. People were asking, ‘Who made it?’ At the same time, women also began to take a more active role in selecting the jewelry they received. We realized that we had to change our business model.” There was another major change too — a move from the site where the company had been for 74 years.
Rochester is located in the western part of New York State. But its downtown area was no longer convenient for their customers who had moved to the suburbs. In 1997, David and Olivia moved to a significantly larger building. “We went from an office with seven cases to a building with 30 to 40 cases,” David notes. Olivia recalls his concern that they would never fill all the cases and have to lease part of the building. However, they have twice since added extensions.
Olivia takes a broad view of the store’s target customer. “The term demographic is too limiting,” she explains. “Age is not the primary factor — the desire for jewelry is. Our target audience is anyone who would like to have a piece of jewelry to commemorate an event or an achievement, to remember a special occasion or to adorn themselves with something beautiful.”
“Our primary focus is on bridal, as it was in wholesale,” says David. The average center stone ranges from 1 carat to 1.5 carats. Top bridal vendors include Hearts On Fire, Tacori, Mémoire — all of which cross over to finished jewelry. In the fashion jewelry category, Marco Bicego, John Hardy, Armenta, Phillips House, Meira T and Gurhan are key sellers. While they enjoy six-figure diamond sales, David and Olivia searched for other avenues of selling and added an “affordable chic” category with jewelry that sells for under $1,000, with many items in the $200 to $500 range.
Olivia has seen an increase in the sale of colored gemstones, but admits it is sometimes “challenging” to convince women to “add some brightness” to their wardrobe. In fact, she finds that men are often “a little more adventuresome” in giving colored gemstones as gifts. She has also observed that tastes have shifted from garnets and peridots to tanzanite and blue topaz, “which goes with everything,” and she sees a growing interest in emeralds and other green stones.
In addition to price point, Olivia applies a number of criteria for selecting designers. “I look at the longevity and breadth of the collection. If they are so focused on one trend or one design, I need to know what their next step will be.” Citing Phillips House, she notes that the designers do not need a strong national presence, but emphasizes the importance of seeing the potential of what they have and their ability to attract many age groups and offer different price points. Establishing a strong partnership is critical and it must be a two-way relationship. Olivia cites the questions that both parties have to ask: “Are they willing to contribute to training and co-op? Are we willing to replace their fast sellers?”
Customers enter the 13,000-square-foot store through an area of soft lighting and sheer flowing curtains that creates a warm and welcoming ambience in tones of taupe and beige. Under the main showroom’s soaring ceilings, custom display cases of nonglare glass are set at 42 inches high so customers can see the jewelry at eye level. Special store lighting mitigates the effect of seasonal affective disorder (SAD). Merchandising is by category and then by designer. There is an in-store John Hardy boutique, the only one in the continental U.S.
The Cornells take hospitality to the next level with dedicated areas for couches, fireplaces and flat screen TVs. Customers can enjoy freshly baked cookies, select an espresso from the beverage bar or indulge in chocolate from the candy bar. There is also an entertainment area where young children can play as their parents shop.
Responding to customer interests also includes incorporating technology into retailers’ promotions. Olivia and David sponsor “Rochester Race for the Ring,” a scavenger hunt, held in April, where couples receive clues on their smartphones, with only one phone per couple allowed. Decked out in blue T-shirts, they race around the city looking for the answers, which they enter into their phones. The results are tallied and the couple with the most points wins a 1-carat diamond engagement ring. David notes that each year, there is a marriage proposal immediately after the winner is announced.
“In the luxury goods business, it is not so much about the product as it is about the customer experience,” concludes David. “Many years ago, we came up with an acronym to describe our brand. We chose ALEX — signifying a lasting experience — which is what we offer our customers.”Article from the Rapaport Magazine - April 2016. To subscribe click here.
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