Reeds Jewelers

Last updated
Reeds Jewelers, Inc.
Company type Private
Industry
Founded1946 (Wilmington, North Carolina)
Headquarters Wilmington, North Carolina
Key people
Alan M. Zimmer, President
Bill Reinger, CFO
Judy Fisher, SVP of Merchandising
Products Diamonds
Jewelry
Watches
Swarovski Crystal
Gifts and Accessories
Website www.reeds.com

Reeds Jewelers is a U.S. retail jewelry company founded in 1946 by Bill and Roberta Zimmer in Wilmington, North Carolina. [1] Reeds Jewelers sells diamonds and precious gems, fine jewelry, brand-name watches, Pandora charms, Swarovski crystal, and jewelry accessories in its chain of retail stores primarily located in shopping malls and in its online store Reeds.com. [1] In May 2008, "National Jeweler" magazine listed Reeds Jewelers as the ninth largest North American Retail Jewelry chain. [2]

Contents

History

The company started in 1946 when Bill Zimmer and his wife, Roberta, bought a small downtown jewelry store in Wilmington, North Carolina and changed the name to Reeds Jewelers. [1] Later, Reeds opened a store in Whiteville, Jacksonville, and other cities in both North and South Carolina. Bill Zimmer built Reeds' business on the foundation of customer service and respect, which he deemed the Reeds Promise. He would often tell his associates: "The most important thing I've learned is that you never argue with a customer. You've just got to do right by people." He carried that philosophy into his treatment of employees, vendors and customers alike, stating that his priorities were to "treat all my people like I'd want to be treated, I respect them and I let them know they were loved and appreciated." [1] By 1979, Reeds Jewelers maintained two dozen retail outlets. Alan Zimmer joined Reeds Jewelers as executive vice president in 1981 and took charge of merchandising. He officially became president and CEO in 1985. [3] [4] [1]

In December 1986 Reeds Jewelers held its initial public offering on The NASDAQ Stock Market, trading under the symbol REEDS. [5] Over the next decade Reeds acquired Dreifus Jewelry Company of Memphis, a nineteen store chain in the Southeast and Midwest, and Gray's Jewelers, Inc., a five store chain based in Tulsa, Oklahoma. In 1995 Reeds Jewelers purchased Melart Jewelers, a mid-Atlantic based jeweler operating stores in Maryland, DC, and Pennsylvania. [6] In 1998 Reeds Jewelers moved to the American Stock Exchange and traded using the symbol RJI. [7]

In February 2004 the company returned to private ownership by the Zimmer family, making it one of the largest family owned jeweler in America. [8] In 2014, Reeds announced the acceptance of Bitcoin, a digital currency, both in-store and online at reeds.com. Reeds Jewelers is the first fine jeweler to accept bitcoin. [9]

Products

Reeds provides a wide variety of both gold and non-gold jewelry. Popular brands and designers include: David Yurman, John Hardy, Roberto Coin, Gucci, EFFY, Le Vian, Forevermark, MIKIMOTO, Montblanc, Pandora, and Swarovski. REEDS also carries an extensive collection of designer watches including: Rolex, Breitling, Omega, Tudor, Grand Seiko, Tag Heuer, Tissot, Movado, Montblanc, NORQAIN, Oris, Citizen Eco-Drive, and Bulova to name a few. [10] [11]

In August 2015, REEDS collaborated with LG Electronics to design and introduce the first luxury Android smartwatch, the LG Watch Urbane Luxe. Features include a body made of 23-karat gold heavy plate, a handmade Alligator wrist strap with deployment clasp, and a piano-gloss watch case. [12]

Store Locations

Reeds Jewelers store Reeds-Jewelers-Store.jpg
Reeds Jewelers store

As of July 2014, Reeds Jewelers operates 64 retail stores in shopping malls and life-style shopping centers in 13 states: Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia. [13] (An unrelated Reeds Jewelers also has several locations in New York state, as of May 2017. )

Related Research Articles

Swarovski is an Austrian producer of glass based in Wattens. It was founded in 1895 by Daniel Swarovski.

Fred Meyer is an American chain of hypermarket superstores founded in 1922 in Portland, Oregon, United States, by Fred G. Meyer. The stores operate in the northwest U.S., with locations in Oregon, Washington, Idaho, and Alaska. The company was acquired by Kroger in 1998, though the stores are still branded Fred Meyer. The chain was one of the first in the United States to promote one-stop shopping, eventually combining a complete grocery supermarket with a drugstore, bank, clothing, jewelry, home decor, home improvement, garden, electronics, restaurant, shoes, sporting goods, and toys. The Fred Meyer division is headquartered in Portland.

<span class="mw-page-title-main">Titan Company</span> Indian multinational jeweller and watchmaker

Titan Company Limited is an Indian company that mainly manufactures fashion accessories such as jewellery, watches and eyewear. Part of the Tata Group and started as a joint venture with TIDCO, the company has its corporate headquarters in Electronic City, Bangalore, and registered office in Hosur, Tamil Nadu.

Service Merchandise was a retail chain of catalog showrooms carrying jewelry, toys, sporting goods and electronics. The company, which first began in 1934 as a five-and-dime store, was in existence for 68 years before ceasing operations in 2002.

<span class="mw-page-title-main">TJ Maxx</span> American discount department store chain owned by TJX Companies

TJ Maxx is an American department store chain, selling at prices generally lower than other major similar stores. It has more than 1,000 stores in the United States, making it one of the largest clothing retailers in the country. TJ Maxx is the flagship chain of the TJX Companies. It sells men's, women's and children's apparel and shoes, toys, bath and beauty products, accessories, jewelry, and home products ranging from furniture and decor to housewares and kitchen utensils.

Envela Corporation, incorporated on September 17, 1965, is a holding company owning subsidiaries engaged in various business activities with a focus on recommerce. Envela's segments include retail stores, e-commerce, de-manufacturing, recycling, IT asset disposition (ITAD), and reverse logistics. Envela Corporation is divided into two sectors: DGSE, LLC and ECHG.

Friedman's Inc. was an American company that owned and operated fine jewelry specialty stores under the names Friedman's Jewelers and Crescent Jewelers. It declared bankruptcy in 2008 and had shuttered all stores by June 2008.

<span class="mw-page-title-main">Birks Group</span> Canadian jewellery company (1879)

Birks Group Inc. is a designer, manufacturer, and retailer of jewellery, timepieces, silverware and gifts, with stores and manufacturing facilities located in Canada and the United States. The Group was created in November 2005 through the merger of Henry Birks and Sons Ltd. (Canada) and Mayors Jewelers Inc..

Robbins Bros. Jewelry, Inc. is a California-based fine jewelry retailer with 14 brick-and-mortar showrooms specializing in designer, exclusive, and customizable engagement rings, wedding bands, and fine jewelry for everyday and occasion. Robbins Brothers describes itself as “an old-school jeweler that actively responds to the needs, wants and demands of a modern world."

Harry Winston, Inc. is an American luxury jeweler and producer of Swiss timepieces. The company was founded in 1932 as Harry H. Winston Jewels, Inc. and changed its name to Harry Winston Inc. in January 1936. The company is named after its founder, Harry Winston, who was called by many as the "King of Diamonds".

Carolina Bucci is an Italian fine jewelry designer. Born in Florence, Italy, she lives between London and New York City and is the first female to lead her family's jewelry company.

Sterling Jewelers, Inc. is an American specialty jewelry company headquartered in Akron, Ohio. The company was founded in 1910 by Henry Shaw, from LeRoy's Jewelers in Lorain, Ohio. Sterling Jewelers is a wholly owned subsidiary of UK-based Signet Jewelers Limited, having been acquired in 1987.

<span class="mw-page-title-main">Tony Schiffman</span>

Arnold Anthony "Tony" Schiffman, Jr. was an American dealer of fine jewelry. He was the chief executive officer and controlling stockholder of Schiffman's, a chain of jewelry stores. Schiffman was the third-generation owner of Schiffman's, considered the oldest, locally-owned jewelry store in Greensboro, North Carolina.

Mimi So is a New York City-based American jewelry designer, entrepreneur, philanthropist, and humanitarian known for a "distinctive and definitive fashion vibe" and a large celebrity clientele. Her company was founded as a partnership with luxury conglomerate Richemont, which subsequently sold its interest to Mimi So.

<span class="mw-page-title-main">Jacob & Co</span> Jewelry and wristwatch retailer

Jacob & Co. is an American privately held jewelry and wristwatch retailer founded in 1986 by diamond designer Jacob Arabo. Its flagship boutique and corporate headquarters are located in Manhattan, New York City.

<span class="mw-page-title-main">Pandora (jewelry)</span> Danish jewellery company (1982)

Pandora A/S is a Danish jewelry manufacturer and retailer founded in 1982 by Per Enevoldsen. The company started as a family-run jewelry shop in Copenhagen.

Ben Bridge Jeweler is a high-end American jewelry retailer that sells engagement rings, diamonds and watches, including Rolex, among other luxury product and is currently owned by Warren Buffett's Berkshire Hathaway. It was established in Seattle, Washington, in 1912 and currently operates over 80 stores in the United States.

<span class="mw-page-title-main">T.H. Baker</span>

T.H. Baker is a luxury jewellery retailer based in the United Kingdom. Established in 1888, the company operates over 20 stores across the Midlands and southern England including PANDORA and Swarovski stores.

<span class="mw-page-title-main">Rebag</span> Online luxury handbag selling platform

Rebag is a New York-based retail platform, established in 2014, that operates both online and through brick-and-mortar stores. It specializes in the buying, trading, and selling of luxury handbags, accessories, watches, fine jewelry, shoes, and select apparel.

Eagle & Pearl Jewelers is an American jewelry retailer headquartered in Colorado. In 2020, it celebrated its 290th anniversary and is one of the world's oldest jewelry stores still in operation. It sells gemstone, pearl and unique designer gold and sterling silver jewelry. Eagle & Pearl is known for partnering with internationally acclaimed award-winning jewelry designers from around the world.

References

  1. 1 2 3 4 5 Reeds Jewelers (2013). "Company Profile for Reeds Jewelers, Inc". corporate website. Archived from the original on 2010-11-13. Retrieved 2013-12-27.
  2. ↑ "State of the Majors", National Jeweler, May 16, 2008, pp 9 and 44.
  3. ↑ Donsky, Martin, "The Family Jewels", Business/North Carolina, 1989.
  4. ↑ Marcial, Gene, "The Glitter at Reeds", Business Week, January 10, 1994, p. 57
  5. ↑ "Reeds Jewelers, Inc. - Company Profile, Information, Business Description, History, Background Information on Reeds Jewelers, Inc". www.referenceforbusiness.com.
  6. ↑ SEC File 0-15247, NT 10-Q, 9/30/1995
  7. ↑ Form 10-K for the Fiscal Year End 1998
  8. ↑ SEC File 1-13893, EX-1, 4/8/04
  9. ↑ Faulkner, Wayne. "Reeds Jewelers now accepting bitcoin". www.starnewsonline.com. Retrieved 29 July 2014.
  10. ↑ "Designers". www.reeds.com. Retrieved 23 Oct 2023.
  11. ↑ "Watches and Clocks". www.reeds.com. Retrieved 23 Oct 2023.
  12. ↑ "LG Reveals $1200 'Luxe' Smartwatch". www.pcmag.com. Retrieved 31 August 2015.
  13. ↑ Reeds Jewelers (2008). "Store Locator". Archived from the original on 2008-11-06. Retrieved 2008-11-02.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.