After two years of planning, Bailey’s Fine Jewelry has opened its first showroom in Los Angeles.
Trey Bailey, CEO of the North Carolina–based fine jeweler, announced the opening on April 15 on LinkedIn.
The new showroom, located at 607 S. Hill St. in downtown L.A., in the heart of the jewelry district, is an upstairs office space rather than a ground-level retail space. The showroom houses diamonds, gemstones, and custom jewelry as well as antique and vintage watches. Showroom access is by appointment only.
The decision to open the L.A. showroom was both professional and personal: There has been an increase in online sales from customers in California, to be sure, but the Bailey family also has connections in the area. “My wife and I met in Southern California and we love that area,” Bailey told the Triangle Business Journal recently.
Bailey attended the Gemological Institute of America in Carlsbad, Calif., and, while there, he met his wife, Marci, who was also a gemological student and jewelry designer. His father, Clyde Jr., likes to quip, “Trey left to go learn about gems and he came home with one.”
Bailey expects the showroom to outgrow its current location in the coming years, but for now it’s a less expensive option than a ground-level retail location or a space within a mall.
Although Bailey’s had to lay off roughly 40 employees at the start of the pandemic last year, during a six-week lockdown mandated by North Carolina, the retailer reported 2020 revenues on par with 2019.
The retailer was able to hire back its employees quickly, thanks to a Paycheck Protection Program, or PPP, loan, and Bailey’s said business rebounded quickly in the latter part of 2020 thanks to customers spending money they would have normally spent on travel or fine dining on fine jewelry.
In addition to its new L.A. location, Bailey’s, which was founded in 1948, operates four stores in North Carolina, including two locations in Raleigh, one in Greenville, and one in Rocky Mount.
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