221B.3—The Case of the Lost Jewel
So what is this business adventure? For the first time I’m working in a consumer retail industry, seemingly a far cry from the tech startup world I’ve inhabited for the past 8 years. I’m partnering with a lifelong friend who owns a family jewelry business, and our goal is to buck the established industry norms.
Jewelry, as a whole, is still stuck somewhere in mid-2000’s technology, still operates in 1990’s best practices, and still caters to the Boomer generation. As a result, the traditional model is failing, sales are falling, and ideas are stale. The industry is slow to embrace emerging technology (particularly on the web), and doesn’t grasp how to market in today’s social and digital landscape. We’re out to build a new jewelry business (hopefully a few actually) that does the opposite and more.
It’s an opportunity to bring a lot of strategies to the party. Economically, we’re evaluating how GenX-ers and Millennials make buying decisions, and what elements bring them the most value. Technically, we’re exploring a range of utility SaaS ideas to solve a lot of operational headache, and provide a better customer experience. Through design, we’re discovering a better way to brand and package products to satisfy market demand, and bring e-commerce best practices to bear on old sales models. And on the marketing side, we’re evaluating how to meet customers where they are, on various platforms, with specific products and messaging.
The next 6months will be a bit of a whirlwind. We have an ambitious schedule that involves launching several new entities, and I honestly haven’t been this excited about a new initiative in a while. When you can see how design, technology, and an understanding of economics can radically shift an industry that is struggling to advance, the motivation is palpable.
Our first initiative is Restoried Diamonds, a unique jewelry buying experience that combines fine jewelry with social causes and environmental preservation. We have a lot of expansionary goals with this brand but for now we’re starting with Diamonds. We launched a small teaser yesterday, and plan on releasing the product in the next month or two. You can follow Restoried on Facebook, Instagram, or at http://restoried.diamonds. In fact, can I ask you to sign up for our e-list, give us a like on Facebook, or follow us on Instagram? I really appreciate it.
I’m looking forward to opening up the experience as we build these new products. It will be an ongoing effort to strike a balance between sharing as much as I can (from raw thoughts to design comps to UX flows to profitability matrices) and not spoiling the surprise too early. I have an inkling of how things will progress, but as any entrepreneur knows, so much of the game is reacting to what pops up in front of you. That’s what makes this such a fun adventure.
Thanks for jumping onboard…
Jason is an entrepreneur, designer, and writer // he’s starting a new business in 2017 and documenting every step // dad of 3 // affable