The Goldenwest Diamond Corporation that does business as The Jewelry Exchange , is one of the largest importers and manufacturers of diamonds in the United States. Today, there are 14 national locations each within a densely populated metropolitan area. Its headquarters is in Tustin, California.
Video The Jewelry Exchange
History
Bill Doddridge started his career working in his stepfather's pawnshops. He wants to get out on his own and he finds a location to open a pawnshop, but has no financing, so he opens it for his stepfather. In 1977, after saving enough money, Bill finally went out to buy Buena Park Loan & amp; Jewelry, pawnshops located in the city next to more than hers.
It was soon clear that Bill did not get enough jewelry from the pawn of customers to fill the demand so he began to design his own jewelry. He realizes that in many cases he can make fewer jewelry and have a more trendy design than buying jewelry used from mortgage customers. He also began to advertise loose diamonds and was able to undermine other people's prices by maintaining low margins. He has so many returning customers with a rating of 3 to 4 times more than what they have paid, that in 1984 he decided to guarantee all his jewelry to be doubled. This guarantee is still valid today.
1980's
In 1986 he moved his business to Main Street in Santa Ana, California and brought a jewelry factory at home. Previously, it was used to send jobs out for settings. Then, in 1987 he went to Israel and began importing diamonds directly. This gives him 25-30% savings on the cost of diamonds and jewelry he manufactures. The show is important because he is now a "Factory Direct" and a "Diamond Direct Importer."
In 1988, the jewelry business had grown so large that he decided to stop pawnshop operations and focus on the jewelry business.
1990's
In 1991, Bill opened a second store in San Diego, California, and in 1993, a third store in San Francisco, California. Although the San Diego store was finally closed, the San Francisco store was a success and better than he had expected. He focused on Santa Ana and San Francisco models for his future expansion.
In 1994, a competitor (14k Jewelry Mart Exchange) moved right next to their main store in Santa Ana, California, and put a sign that emphasized the words "Jewelry Exchange"; "14K" and "Mart" appear in lower case. Their customers find it difficult to distinguish the two businesses. It forces them to move to their new headquarters to Tustin, California and seek legal action against these unscrupulous competitors. After four years of preparation, and a two-month trial, the court upheld the validity of their federal trademark "Jewelry Exchange", gave a permanent order to the 14K Jewelry Mart Exchange and gave Jewelry Exchange more than two million dollars in damages.
Current
Currently, Jewelry Exchange is one of the largest jewelry retailers in the country because of its cheap/high quality jewelry. Also 14 locations and online booking sites allow Goldenwest Corporation to do business with many customers across the United States and even some in Canada. By eliminating middlemen, Jewelry Exchange keeps their operating costs low and in turn can keep retail prices low. The jewelry exchange is known to have many seasonal specials, a large stock of loose stones, the option "Create your own ring", and thousands of other jewelry options.
Maps The Jewelry Exchange
References
External links
- Jewelry Exchange Website
Source of the article : Wikipedia
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