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‘The Jewelry District’ Podcast: Guest Andy Koehn

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In this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Andy Koehn, owner of Wisconsin-based, family-owned retailer Koehn & Koehn Jewelers. The diehard classic-rock fan shares his philosophy about how a store is like a stage and its staff is like a band. (Even Mick Jagger relies on discipline and preparation to keep Rolling Stones fans coming back.) Like Rob, Andy is a writer in his spare time. He brings listeners up to speed on his ring-buying guide for guys and shares some clever insights on what the diamond market needs now.

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Sponsor: Nivoda (nivoda.com)

Show Notes
02:27 Long strange trip

08:08 Rockers and rocks
11:51 Goodbye, halo; hello, solitaire
13:31 A no-BS guide for guys
20:10 Diamonds speak when words fail

Episode Credits
Hosts: Rob Bates and Victoria Gomelsky
Producer and engineer: Natalie Chomet
Editor: Riley McCaskill
Plugs: @jckmagazine; nivoda.com; robbatesauthor.com

Show Recap
Long strange trip
Rob and Victoria welcome guest Andy Koehn, owner of Koehn & Koehn Jewelers in West Bend, Wis. In addition to being a successful retailer, Andy is the author of The Inappropriate Guide to Buying an Engagement Ring.

Long before he penned his how-to book for grooms-to-be, Andy was determined not to settle down in his hometown. After graduating from college, he headed to Chicago to work in marketing for a large firm. That was the 1980s, when “it was cool to have a power suit, a red tie, and a briefcase,” he quips. The suit and the job proved a bad fit, so when Andy’s dad suggested he come home to work in the family jewelry store while he figured out what to do with his life, he took the offer.

“My father and I could not stand each other after working together in the same building,” he said. “I say that with respect now…. We both realized we learned a ton from each other. You don’t know it at the time, of course, but it does help shape who you become. I owe so much to him for putting up with me, and I like to think I taught him a few things along the way.”

Today, Andy says he wouldn’t want to be anyplace but Koehn & Koehn. Aside from a one-year stint at Jewelers Mutual, he is indeed settled down in West Bend, having bought the business when his father retired.

Andy stuck with the store during his dark days after his first wife died. Eventually, to feel reconnected with the industry, he attended a Hearts on Fire University—where a mutual friend introduced him to Jenn, a newcomer to the jewelry business from Lexington, Ky. “And that was it,” he says. It was love at first sight for both of them, and he had met his future wife.

The rest is history. The store’s name originally referred to Andy’s dad and grandfather, but today it means Andy and Jenn.

Rockers and rocks
Customers are often caught off guard by Koehn & Koehn’s casual, rock ’n’ roll–inspired attitude. “I’m enamored with my rock heroes, and just how they did things,” Andy explains. He draws inspiration from rock icons like Mick Jagger to create what he calls “retail theater.”

“When someone comes into our store, they’re the audience, we’re the performer,” he says. “There’s no charge for the ticket, but we have to do our part as the performer to make sure they have a good show.” He feels everyone should leave saying, “I’m so glad I went there.”

Rob asks how that translates to day-to-day business in the store. Rockers and retailers have more in common than you might think, Andy says. Even superstars like Jagger need preparation and discipline, he says. So do successful retailers: They have to prepare by choosing the right vendors and to stay disciplined to deliver on promised services such as jewelry repair.

Andy even has a rock analogy for his staff: They’re like a band. They all have different roles, but they have to be able to play well together. “When we’re not on brand, we know it and we are not afraid to call each other out.”

Goodbye, halo; hello, solitaire
Knowing that Koehn & Koehn specializes in engagement rings, Victoria asks which styles are trending. The look of the moment is a very thin band with an oval diamond, Andy reports. “Halos are out.”

The “in” style is simple—solitaire, maybe with a few accent diamonds. The vibe has changed because when each new generation gets engaged, they crave a different look from the one their parents had, Andy says, noting that one of his daughters is married and the other recently got engaged, and both chose very minimal engagement rings.

A no-BS guide for guys
Speaking of engagement rings, Rob and Victoria wonder what prompted Andy to write a diamond-buying guide for men. Initially he considered penning a sales training manual that answers questions from his staff. But then he realized how often men in social settings sought his advice on buy a ring—they seemed to truly need help.

The Inappropriate Guide to Buying an Engagement Ring (available on Amazon and through Andy’s website) is meant to make men feel more empowered and less panicky when shopping for a ring.

Andy offers fellow jewelers a discount on his 78-page book, and he gives it away to customers. It’s been a powerful selling tool, even though most people don’t read it cover to cover, he says.

“The comeback numbers are really pretty awesome. The takeaway is very impactful,” he says, “It’s not a business card. It’s not a store brochure. It’s not a coupon.” But it helps men feel more comfortable shopping. “When their comfort level goes up and their confidence goes up, then they can make a decision…and the buying happens quicker,” he adds.

Customer response to the book has been great, with many finding it “hilarious.” Feedback from fellow retailers has been even better. “Jewelers should hand these out,” Andy advises. “It is one of the most effective closers for someone who says, ‘I want to think about it.’”

Diamonds speak when words fail
How does Andy’s book tackle the thorny question of lab-grown diamonds? Naturally, his advice is simple: “Trust your gut.”

“I can’t begin to tell someone which one is better,” he says. “It’s their moment. It’s not mine.”

While he’s convinced there’s room for both natural and lab-grown stones in the market, in his store “the majority [of clients] are buying lab-growns because they get so much for so little.”

He’s concerned about the battle between the two segments. “Lab or natural, [diamonds are] the most powerful symbol on the planet,” says Andy. “I hope we don’t wreck it.”

Rob asks what he thinks the natural business might do to reinvent itself. “It’s not about bashing labs,” Andy says. “No great business has ever won by bashing somebody else.”

Instead, companies might “draw on the nostalgia and the history of what made diamonds something people would want to spend so much money on.”

Just as music fans are rediscovering vinyl and how different it is from Spotify, Andy believes there’s a way to tap into natural diamonds’ powerful heritage as an effective way to express what’s in someone’s heart when words fail. Diamonds are a deeply emotional purchase, not a logical one, he points out. They help you convey to another person just how strongly you feel.

Any views expressed in this podcast do not reflect the opinion of JCK, its management, or its advertisers.

By: Kathy Passero

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