The Hearts On Fire Company, Boston, announces two new initiatives: a consumer e-commerce Web site (www.heartsonfire.com) and an Intranet site for all of its authorized retailers.
The e-commerce site features online financing, online insurance, and a proprietary patent-pending technology that allows for local Internet pricing. Based on a zip code locator, a consumer will see prices online that have been determined by the Hearts On Fire retailer located closest to them. All Hearts On Fire retailers have exclusive selling territories, ensuring that potential customers will not see Hearts On Fire diamonds discounted from the price offered in their stores.
Every Hearts On Fire retailer determined by the zip code locator will receive 100% of the profit (minus a small administrative transaction fee) from every online sale. Additionally, Hearts On Fire plans to pay a commission to the retailer to be distributed among the sales associates within the stores.
Hearts On Fire CEO Glenn Rothman says the new Web site is primarily a branding tool, and the bricks-and-clicks model is designed to benefit the retailers supporting the brand.
The firm’s other new initiative is the Hearts On Fire Lifeline, a password-protected Intranet that allows retailers to communicate and conduct business electronically with the company. Created to help retailers close Hearts On Fire sales, the Lifeline lets jewelers order Hearts On Fire diamonds and Sabrina diamond jewelry for overnight delivery from a real-time inventory system. Consumers can use the system to apply for instant online financing and insurance right in the retailer’s store. Hearts On Fire says that so far, approximately 75% of online instant financing applications have been approved.
Retailers also can order Hearts On Fire marketing materials, track status of shipments, participate in sales incentive contests, and monitor e-commerce sales through the Lifeline.
Separately, the company recently announced the winners of its Multi-Million Dollar Diamond Giveaway sales incentive competition. The contest, which ran from April 2000 through March 2001, was designed to encourage jewelry store sales associates to focus on the Hearts On Fire diamond brand. All sales associates who worked for an authorized Hearts On Fire retailer were eligible to win.
Prizes were awarded based on three levels. A .5-ct. Hearts On Fire diamond was awarded to sales associates who sold 24 Hearts On Fire diamonds, a .75-ct. stone was awarded to those who sold 40 stones, and a 1-ct. prize went to those who sold 60 or more Hearts On Fire diamonds within the designated 12-month period.
Thirty-two winners received a total of 19.5 cts. of Hearts On Fire diamonds.