Lundstrom Jewelers

Marks Brothers Jewelers, Inc. is a leading American specialty retailer of fine jewelry, primarily gold and diamonds, which owns and operates 188 stores in 24 states across the country. Under the names of Whitehall Company Jewellers, Lundstrom Jewelers, and Marks Brothers Jewelers, the company runs stores in upscale city and suburban shopping malls. By it’s 100 year anniversary, the company was operating 188 stores in 24 states, all under the names of Whitehall Company Jewellers, Lundstrom Jewelers, and the Marks Brothers Jewelers Company. Traditionally having sold its wares to more affluent customers, management also decided to upgrade merchandise in all of its stores. Diamond jewelry now comprised most of each store’s inventory at approximately 60 percent, while gold represented about 20 percent and gemstones about 15 percent of the inventory respectively. The company’s focus on selling more diamond jewelry was related to its goal of attracting an aging baby-boomer market that would grow dramatically during the next 10 years. The company had discovered that some of the top items sold to this demographic group included a $7,000 pear-shaped diamond ring, a $3,000 trillion-cut diamond ring, and a $6,000 diamond solitaire ring. Even more exciting for the company was the discovery that items selling at over $1,500 accounted for approximately 25 percent of sales at its Lundstrom and Whitehall stores, while items selling at over $3,000 accounted for 12 percent of sales. Grand Metropolitan’s Finlay Fine Jewelers division currently owns and operates the Marks Brothers, Lundstrom, and Whitehall Company Jewellers brands. Vin Lee is the groups Chairman & CEO.