How VAL Gained Full Inventory Visibility and Protected Profit Margins for Their Luxury Jewelry Brand

DigitBridge Knowledge Team

Download the Case Study

VAL is a luxury jewelry brand with over a decade of experience. Each piece is custom-made, with an average retail price of more than $3,000. The majority of their sales are via their retail partners, as their pieces can be found in the showcases of Nordstrom, Bloomingdale’s, and other stores nationwide. Their strong social media presence generates additional sales on their website. Still, the ability for customers to see and try on pieces, especially given the high price point, makes in-person sales more effective.

The Challenge

VAL faced three significant challenges with their day-to-day operations that demanded immediate attention:

  • Inventory management across all of their consignment partners.
    Working with major department stores is a consignment relationship, VAL consigns the pieces to the store and gets paid if the piece sells. Unsold pieces are returned to VAL after an agreed-upon period of time. With so many consignment partners, it was difficult to manually account for the locations of all of the inventory, especially if/when the piece sold.
  • Constantly changing price of raw materials.
    With a large product catalog of high-priced items composed of gold and silver, having accurate information on the replacement costs of the product was critical to ensure that prices were being set properly. With custom-made products, once a product was sold they would have to re-order from their manufacturer, and the replacement cost was influenced by the highly-variable cost of raw materials at the time. As such, being able to adjust prices quickly was paramount for profitability.
  • Digital product catalog.
    With images being so important to form partnership relationships with retailers, VAL was manually creating digital product catalogs to showcase their items. This was a painstakingly long process, not only to create, but also to maintain and update, and to customize for different resell partners.

The Solution

Despite being a luxury jewelry brand with strong sales, VAL never had a central operating system and managed all transactions and operations manually. DigitBridge was brought in to organize their business and to assist them with their jewelry-specific operational needs that they were unable to solve anywhere else on the market. DigitBridge finally provided them with the technological solution they needed to manage the nuances of their jewelry business, including:

  • Accurate records of their inventory, not just in their showroom, but also across their consignment partners (including the return of unsold items).
  • Ability to track and update the cost of raw materials to precisely understand the replacement cost for items.
  • Creating beautiful product catalogs and line sheets that properly display and document the details and specifications of their jewelry pieces in more nuanced detail, with the ability to customize for each customer.

Key Features & Benefits

  • Digital Consignment Management System:
    Across unlimited consignment partners, accurately accounting for inventory, locations, sales, and returns.
  • Jewelry-Specific Inventory Management:
    Real-time inventory information on their entire catalog, updated across all sales channels.
  • Real-Time Inventory Valuations:
    Complete visibility into the market value of gold, silver, and other critical inputs.
  • Trunk-Show-Ready-in-Minutes:
    The digital product catalog and POS system allows for easy preparation for trunk shows, conferences, or pop-ups.
  • Access to Hundreds of Sales Channels:
    The ability to easily sell across numerous channels with powerful automation tools that span content management and order processing.
  • Business Intelligence and Reporting:
    Real-time data analytics to highlight where performance is strong and identify areas that need improvement.
  • Manufacturing Process Management:
    Streamlining operations from design to final production.

The Results

With DigitBridge, VAL has been able to keep meticulous records of their inventory with full understanding and visibility of where their valuable product is at all times. No more misplaced pieces or time lost trying to track down products. They’ve also maintained a high level of profitability by not only pricing their product well in a dynamic market, but using the DigitBridge business intelligence tools to understand what products and channels are performing and making strong, informed decisions to strategically grow their business.

VAL evaluated more than a dozen softwares trying to find a tool that could address the needs of their jewelry business. DigitBridge was the only solution that could address their needs and they’ve been very happy to finally automate their operations and sales processes.

Download the Case Study

VAL is a luxury jewelry brand with over a decade of experience. Each piece is custom-made, with an average retail price of more than $3,000. The majority of their sales are via their retail partners, as their pieces can be found in the showcases of Nordstrom, Bloomingdale’s, and other stores nationwide. Their strong social media presence generates additional sales on their website. Still, the ability for customers to see and try on pieces, especially given the high price point, makes in-person sales more effective.

The Challenge

VAL faced three significant challenges with their day-to-day operations that demanded immediate attention:

  • Inventory management across all of their consignment partners.
    Working with major department stores is a consignment relationship, VAL consigns the pieces to the store and gets paid if the piece sells. Unsold pieces are returned to VAL after an agreed-upon period of time. With so many consignment partners, it was difficult to manually account for the locations of all of the inventory, especially if/when the piece sold.
  • Constantly changing price of raw materials.
    With a large product catalog of high-priced items composed of gold and silver, having accurate information on the replacement costs of the product was critical to ensure that prices were being set properly. With custom-made products, once a product was sold they would have to re-order from their manufacturer, and the replacement cost was influenced by the highly-variable cost of raw materials at the time. As such, being able to adjust prices quickly was paramount for profitability.
  • Digital product catalog.
    With images being so important to form partnership relationships with retailers, VAL was manually creating digital product catalogs to showcase their items. This was a painstakingly long process, not only to create, but also to maintain and update, and to customize for different resell partners.

The Solution

Despite being a luxury jewelry brand with strong sales, VAL never had a central operating system and managed all transactions and operations manually. DigitBridge was brought in to organize their business and to assist them with their jewelry-specific operational needs that they were unable to solve anywhere else on the market. DigitBridge finally provided them with the technological solution they needed to manage the nuances of their jewelry business, including:

  • Accurate records of their inventory, not just in their showroom, but also across their consignment partners (including the return of unsold items).
  • Ability to track and update the cost of raw materials to precisely understand the replacement cost for items.
  • Creating beautiful product catalogs and line sheets that properly display and document the details and specifications of their jewelry pieces in more nuanced detail, with the ability to customize for each customer.

Key Features & Benefits

  • Digital Consignment Management System:
    Across unlimited consignment partners, accurately accounting for inventory, locations, sales, and returns.
  • Jewelry-Specific Inventory Management:
    Real-time inventory information on their entire catalog, updated across all sales channels.
  • Real-Time Inventory Valuations:
    Complete visibility into the market value of gold, silver, and other critical inputs.
  • Trunk-Show-Ready-in-Minutes:
    The digital product catalog and POS system allows for easy preparation for trunk shows, conferences, or pop-ups.
  • Access to Hundreds of Sales Channels:
    The ability to easily sell across numerous channels with powerful automation tools that span content management and order processing.
  • Business Intelligence and Reporting:
    Real-time data analytics to highlight where performance is strong and identify areas that need improvement.
  • Manufacturing Process Management:
     Streamlining operations from design to final production.

The Results

With DigitBridge, VAL has been able to keep meticulous records of their inventory with full understanding and visibility of where their valuable product is at all times. No more misplaced pieces or time lost trying to track down products. They’ve also maintained a high level of profitability by not only pricing their product well in a dynamic market, but using the DigitBridge business intelligence tools to understand what products and channels are performing and making strong, informed decisions to strategically grow their business.

VAL evaluated more than a dozen softwares trying to find a tool that could address the needs of their jewelry business. DigitBridge was the only solution that could address their needs and they’ve been very happy to finally automate their operations and sales processes.

Download the Case Study

VAL is a luxury jewelry brand with over a decade of experience. Each piece is custom-made, with an average retail price of more than $3,000. The majority of their sales are via their retail partners, as their pieces can be found in the showcases of Nordstrom, Bloomingdale’s, and other stores nationwide. Their strong social media presence generates additional sales on their website. Still, the ability for customers to see and try on pieces, especially given the high price point, makes in-person sales more effective.

The Challenge

VAL faced three significant challenges with their day-to-day operations that demanded immediate attention:

  • Inventory management across all of their consignment partners.
    Working with major department stores is a consignment relationship, VAL consigns the pieces to the store and gets paid if the piece sells. Unsold pieces are returned to VAL after an agreed-upon period of time. With so many consignment partners, it was difficult to manually account for the locations of all of the inventory, especially if/when the piece sold.
  • Constantly changing price of raw materials.
     With a large product catalog of high-priced items composed of gold and silver, having accurate information on the replacement costs of the product was critical to ensure that prices were being set properly. With custom-made products, once a product was sold they would have to re-order from their manufacturer, and the replacement cost was influenced by the highly-variable cost of raw materials at the time. As such, being able to adjust prices quickly was paramount for profitability.
  • Digital product catalog.
    With images being so important to form partnership relationships with retailers, VAL was manually creating digital product catalogs to showcase their items. This was a painstakingly long process, not only to create, but also to maintain and update, and to customize for different resell partners.

The Solution

Despite being a luxury jewelry brand with strong sales, VAL never had a central operating system and managed all transactions and operations manually. DigitBridge was brought in to organize their business and to assist them with their jewelry-specific operational needs that they were unable to solve anywhere else on the market. DigitBridge finally provided them with the technological solution they needed to manage the nuances of their jewelry business, including:

  • Accurate records of their inventory, not just in their showroom, but also across their consignment partners (including the return of unsold items).
  • Ability to track and update the cost of raw materials to precisely understand the replacement cost for items.
  • Creating beautiful product catalogs and line sheets that properly display and document the details and specifications of their jewelry pieces in more nuanced detail, with the ability to customize for each customer.

Key Features & Benefits

  • Digital Consignment Management System:
    Across unlimited consignment partners, accurately accounting for inventory, locations, sales, and returns.
  • Jewelry-Specific Inventory Management:
    Real-time inventory information on their entire catalog, updated across all sales channels.
  • Real-Time Inventory Valuations:
    Complete visibility into the market value of gold, silver, and other critical inputs.
  • Trunk-Show-Ready-in-Minutes:
    The digital product catalog and POS system allows for easy preparation for trunk shows, conferences, or pop-ups.
  • Access to Hundreds of Sales Channels:
    The ability to easily sell across numerous channels with powerful automation tools that span content management and order processing.
  • Business Intelligence and Reporting:
    Real-time data analytics to highlight where performance is strong and identify areas that need improvement.
  • Manufacturing Process Management:
    Streamlining operations from design to final production.

The Results

With DigitBridge, VAL has been able to keep meticulous records of their inventory with full understanding and visibility of where their valuable product is at all times. No more misplaced pieces or time lost trying to track down products. They’ve also maintained a high level of profitability by not only pricing their product well in a dynamic market, but using the DigitBridge business intelligence tools to understand what products and channels are performing and making strong, informed decisions to strategically grow their business.

VAL evaluated more than a dozen softwares trying to find a tool that could address the needs of their jewelry business. DigitBridge was the only solution that could address their needs and they’ve been very happy to finally automate their operations and sales processes.