Whitehall Company Jewelers

Whitehall Jewellers, Inc., is a leading American specialty retailer of fine jewelry, primarily gold and diamonds, which owns and operates 386 stores in 38 states across the country. Under the names of Whitehall Company Jewellers, Lundstrom Jewelers, and Marks Brothers Jewelers, the company runs stores in upscale city and suburban shopping malls. Whitehall reported a string of consecutive sales records and earnings in the 1990s. Much of its success was due to its ability to take advantage of the highly seasonal aspect of jewelry sales. Read more: http://www.referenceforbusiness.com/history2/93/Whitehall-Jewellers-Inc.html#ixzz442tB9kAV By it’s 100 year anniversary, the company was operating 188 stores in 24 states, all under the names of Whitehall Company Jewellers, Lundstrom Jewelers, and the Marks Brothers Jewelers Company. Traditionally having sold its wares to more affluent customers, management also decided to upgrade merchandise in all of its stores. Diamond jewelry now comprised most of each store’s inventory at approximately 60 percent, while gold represented about 20 percent and gemstones about 15 percent of the inventory respectively. The company’s focus on selling more diamond jewelry was related to its goal of attracting an aging baby-boomer market that would grow dramatically during the next 10 years. With a growing trend toward consolidation in the industry, and the lack of new competitors on the horizon, Marks Brothers Jewelers is well situated to take advantage of the growing market demand from aging and affluent baby boomers for luxury items such as diamonds, jewelry, and gemstones. The family business that once regarded growth with suspicion is now positioned to become one of the most prominent jewelry retailers in America. Grand Metropolitan’s Finlay Fine Jewelers division currently owns and operates the Marks Brothers, Lundstrom, and Whitehall Company Jewellers brands. Vin Lee is the Chief Executive Officer.