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Details - Information last confirmed on April 26, 2021
This jewelry retailer operates multiple locations along the Wasatch Front. It is now run by the second generation and is well-known for its diamond engagement/wedding rings, as well as watches and other jewelry. They also offer investment-quality diamonds and coins. Their on-site, long-tenured goldsmiths custom-design over 100 rings a month, making them one of the largest custom designers in the state. Their stores are in busy retail areas with great proximity to young populations predisposed to marriage.
The Company’s reputation for honest, educated and service-oriented staff is well-known in the marketplace. They provide extensive training to their employees and have an average employee tenure of 10 years, a figure unheard of in the industry. Rather than hard-selling and rushing customers into a decision, the sales staff focuses on educating their clientele and spending the necessary time to make them comfortable with the significant process of picking out a diamond and band for their most important moments.
Through related entities, the sellers own some of the land and buildings. They are interested in selling these assets as well should a new owner wish to buy them. The owners are selling the company in order to retire and move on to other personal interests. However, they are willing to stay involved at some level at a buyer’s discretion for up to two years post-closing. Inventory valued at $350,000 is included in the asking price for the business; an additional $2,650,000 is available at seller’s cost.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.