Canadian retailer to enter U.S. with ‘disruptive’ concept

(Author : Marianne Wilson)
Spence Diamonds is dropping anchor in the United States with an innovative store concept and unique product offering. 

The diamond retailer will open a store in Austin, Texas, on Nov. 7, followed by a location in San Jose, Calif., on Nov. 10. A store in Scottsdale, Arizona is planned for first quarter 2017, with additional markets to be announced soon.

The Spence concept is unique in that it features “artisan created diamonds,” which are identical to mined diamonds in every way, but created in a plasma chamber instead of being dug out of the ground. These diamonds are physically, optically, and chemically identical to the finest diamonds mined from the earth, but they are substantially larger than mined diamonds at any given price point, according to the company. (Spence stores carry both the artisan diamonds and traditional mined diamonds.)

At Spence, customers can watch as diamonds are created right in front of their eyes. Jewelry is displayed in open cases and customers are free to take items out of the case for try on. JGA, Southfield, Mich., is serving as design firm for the company’s Austin store.

“Before Spence Diamonds came along, the jewelry business hadn’t seen much change since jewelers began moving into suburban malls fifty years ago,” said Jim Schneider, president of Spence Diamonds. “Our inventory-on-demand process is innovative and our store experience is experiential, informative, and entertaining. We have reimagined the experience of the diamond business by creating an environment that is open, bright and transparent.  Watching a diamond being created from a ball of plasma while exploring jewelry in open cases without the traditional barriers is a refreshing concept. At Spence Diamonds, the customer can immediately see the price and quality of each diamond and never worry about their selection.” Spence is vertically integrated with offices and design studios in Antwerp, Belgium, and Vancouver, Canada.

Source : chainstoreage.com