NEWS RELEASE FEBRUARY 4, 2021
SHOWCASE JEWELLERS ANNOUNCE STRONG FIRST HALF RESULTS
Showcase Jewellers is on track to deliver a higher than anticipated profit this financial year, as well as recording a 15% increase in Member purchases in the first half, according to Terrence Keoghan, Chairman. “A great success for the Member-owned group in its 40th year as a group, the only buying group that returns all profits to its members,” he said.
This has been achieved in what for many bricks and mortar retailers was a challenging year due to COVID-19 and economic uncertainty.
“Our success is in no small part due to Showcase Jewellers’ strategic approach to reading the market and identifying the most promising opportunities for sales growth, then capitalising on our buying strengths to maximise profits for its Members,” Terrence Keoghan said.
“Continuing its focus on Diamonds, Showcase’s strategic partnership brings to market the uniquely Australian-designed Dreamtime Argyle Diamond Collection, Argyle White Diamonds and the most exclusive diamonds in the world, Argyle Pink Diamonds. Showcase Jewellers also enjoys their significant partnership with Swarovski Created Diamonds, offering the finest quality, lab-created diamonds.”
Showcase Jewellers’ vertical integration system, sourcing diamonds directly from the most respected international suppliers, has delivered the very best quality diamonds, along with significant cost savings to its jewellery store Members, ensuring they can offer a premium product of significant value to their clients, and allowing them to achieve greater market share.
According to Keoghan, to ensure the continued success of Showcase Jewellers’ Members, comprehensive support is offered for all marketing and merchandise requirements via its own in-house marketing agency, providing all the resources needed for omnichannel retailing, while reducing the cost of outsourcing this essential service.
Members can utilise a wide variety of services with at least three major campaigns per year, a plethora of ‘mini’ digital promotions, social media content, free website setup and monthly website content, educational resources, graphic design for in-store, print and online, access to stock imagery. Showcase also works one-to-one with stores who require personalised campaigns created.
Additionally, Showcase Jewellers’ merchandise department aims to ensure all stock programs are accompanied with marketing material and P.O.S. store signage to effectively and economically promote their product offerings. These assist jewellery store Members to plan and fill their marketing calendar simply, easily and with as little time and cost investment as possible.
Showcase also recognises and thanks their suppliers who are major partners in the company’s continued and ongoing success.
Keoghan is upbeat about the future for Showcase: “With a strong, professional head office team and our committed Board providing the strategic overview and guidance to bring further innovation and corporate oversight, Showcase is placed in a strong financial position, with carefully crafted strategies to further enhance our members’ businesses,” he said.
“Our strategic plan sets out the vision for the organization to continue to achieve sustainable growth for the next three years, in what may well be a very challenging economic time ahead.
“Showcase Jewellers’ plan for growth will continue to focus on its support infrastructure to assist Members grow their business, through improved professional management systems, better buying opportunities, store presentations and effective marketing programs based on high quality, excellent value and the very best customer service.”
Mr Carson Webb Departs Showcase
It was also announced that Mr Carson Webb leaves the company this month to pursue new opportunities. He joined the business in August 2011 as Operations Manager, later becoming General Manager, appointed Managing Director in August 2019.
Carson worked across the business, including purchasing jewellery, loose diamonds, fine jewellery, brands and watches; modern retail and leasing support; marketing elements including e-commerce and brand development; inventory management; training and Human Resources staff management.
“We wish Carson well in his future endeavours,” the Chairman said.
With compliments: Showcase Jewellers
Background information on Showcase Jewellers
The Showcase Jewellers group was established in Australia in 1981, by a group of independent jewellers who banded together to improve their buying power in the industry, merging in 2011 with the New Zealand based Gemtime Group, also formed in 1981 by independent jewellers.
Today, Showcase Jewellers is Australasia’s premier buying and marketing group, representing over 200 independent jewellery stores across Australia and New Zealand. It is the only Buying Group that returns all profits to its Members. Its head office is located in Sydney, Australia.
- Jewellery World Magazine originally emailed this announcement as January 4th, but infact news was released Feburary 4th.