In era of consolidation, one retailer goes bigger

Newport Beach, Calif.--When it relocates to a new space later this month, California retailer Traditional Jewelers will more than double in size, allowing it to better showcase its brands and placing it in a busier section of the same shopping center. 

Currently, Traditional Jewelers occupies a 4,500-square-foot space in a strip of Orange County’s Fashion Island shopping center that has become less busy over time. Michael Pollak, CEO of Traditional parent company Hyde Park Jewelers, said they are relocating to a 10,000-square-foot space in a more central and busier section of the center, near both Neiman Marcus and Bloomingdale’s. 

The jeweler’s decision to move into a larger retail space comes at a time when many retailers, both in jewelry as well as in fashion, are not in expansion mode. Two of the country’s largest chain jewelers, Sterling Jewelers, owner of Kay Jewelers and Jared the Galleria of Jewelry, and Zale Corp. are merging and undoubtedly will shutter some stores. 

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Accessories retailer Coach announced last week that it was closing 70 full-line stores in North America while also opening more outlet stores and combining others. Clothing retailer Juicy Couture, known for its rhinestone-centric loungewear, is closing all of its existing U.S. stores and replacing them with only a few new concept stores in key markets here. 

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Pollak said the decision to open a bigger store was made in part because watch brands today are looking for increased visibility, which they will have in this new space. The larger Traditional Jewelers includes four shop-in-shops, all for watches: Rolex, Patek Philippe, Cartier and Officine Panerai. 

In addition to the shop-in-shops, the new store will carry jewelry from the Fred Leighton estate collection. He said it is the first store in Orange County selected to carry the line, and it marks the retailer’s foray into period and estate jewelry. 

“Retailers have to be known first and foremost as our own brand. And I support that notion,” Pollak said when asked about the importance of brands in retail today. “But, at the end of the day, the consumer is comfortable with and trusts certain luxury brands. It is very validating to the consumer when you showcase the top brands because then they have confidence in patronizing you as a retailer.” 

While acknowledging the weight