De Beers Retail to Halt U.S. Expansion
December 1, 2008
This is from a Woman’s Wear Daily article today, which is behind a subscription firewall …
De Beers, the diamond jewelry firm, has no store openings planned for next year, as it takes a breather from a busy 2008.
“In 2008, we doubled the number of De Beers stores worldwide from 25 to 50, and in the U.S. from five to 11,” said Hamida Belkadi, chief operating officer of De Beers U.S. “In 2009, we do not plan on opening any additional stores and will focus on solidifying the existing 11 stores in each local market.”
This is surprising only in that the De Beers retail chain has been somewhat bucking the trend this past year. Tiffany has also said they will moderate (but not halt) planned store openings in 2009 …
Posted by Rob Bates on December 1, 2008 |
Comments (2)
December 5, 2008
In response to:
De Beers Retail to Halt U.S. ExpansionJR NYC commented:
We saw the effect of rapid expansion on Whitehall and Friedmans.
December 1, 2008
In response to:
De Beers Retail to Halt U.S. ExpansionMall Jewelry Boy commented:
From Signet's recent conference call, for US operations/Sterling:
This year (scaled back from last year) there were 63 openings, 47
refurbishments, balanced by 60 closures. 2009, next year,
Signet/Sterling plans to open 30 stores (10 Jared) and close about
30. It seems like everyone who was in growth mode is now taking a
breather and waiting a year for stores to mature and contribute
higher sales...which isn't entirely a bad thing as unchecked growth
can lead to disasters and huge store closings when money gets
tight. They also seem to be shifting resources to the strongest
parts of their operations...Sterling slashed marketing by removing
radio ads for Kay and their regionals, and when was the last time
you heard Tiffany talk about Iridesse or their Japanese men's store
concept?
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