Leading jewelry liquidation companies SimplexDiam Inc. and Eaton Hudson have joined forces to create a consultancy that advises jewelry store owners looking to turn around their businesses, sell off unwanted inventory, or liquidate an entire store.
Specifically, the jointly owned venture is offering retailers the following: inventory appraisals, sale promotions, the options of infusing fresh inventory (on consignment) into a stagnant mix, and adding supplemental sales staff and/or a sales supervisor to help coordinate a liquidation sale.
“We admire the SimplexDiam Inc. team for recognizing the importance of specific industry expertise in our line of work and are glad to be a part of the launch of this strategic partnership,” said Eaton Hudson CEO Bob Epstein in a prepared statement. “With Eaton Hudson and SimplexDiam together, we have a tremendous amount of resources behind us and can draw from the financial capital and back-office operational structure of the companies, allowing for a much greater expansion of the jewelry advisory services throughout the United States and Canada.”
SimplexDiam has been a leading source for closeout jewelry—as well as for jewelry manufactured in the U.S.—for more than 30 years. The company focuses on several sources for its diamond and jewelry closeouts—including retailers, wholesalers, manufacturers, pawnshops, gold buyers, refiners, financial institutions, and Chapter 7 and 11 trustees.
Eaton Hudson is owned by the Eaton family, who also owned the former Eaton’s department store, and provides strategic solutions “for the disposition of excess, obsolete and discontinued inventory, and other assets,” reads the company boilerplate.
The business partners with retailers, financial sponsors, strategic buyers, managers, lenders, and advisers to develop “creative and transparent structures that align interests, enhance liquidity, and create positive outcomes.” Eaton Hudson has also worked with some of the largest jewelry chains in the country, including Friedman’s, Whitehall Co., Fortunoff, Ross-Simons, and Michael C. Fina, in addition to thousands of independent jewelers.