JNA Sep 2018

SPECIAL FEATURES JNA | 30 | SEP 2018 Auvere: A fresh look at jewellery online retail Auvere is an online gold jewellery retailer with a website that integrates a great look and feel with a seamless e-commerce experience. Steven Feldman of Auvere talked to JNA about the company and its novel approach to capturing the hearts of today’s buyers. JNA: What is the concept behind Auvere? Feldman: Auvere offers jewellery buyers a better value proposition by combining modern design and traditional hand-craftsmanship with the enduring value and appreciation of high karat (22-karat and 24-karat) gold. In short, we sell beautiful jewellery to wear or give, which will go up in value over time. The idea behind Auvere was a product of my professional and personal experience. I am the co-founder and CEO of GBI, LLC, a financial technology company with a physical gold trading/investment platform that serves global wealth managers. I am also a luxury goods buyer who would like to see those purchases go up in value. My partner, Gina Love, is a very talented designer and she’s the brains behind the jewellery designs and the website. JNA: How important are websites for jewellery retailers? Feldman: The major brands all have good websites but for the most part, the industry is a brick-and-mortar story with large mark-ups from wholesale to retail. Auvere is solely an e-commerce enterprise and can offer better pricing because it does not have the overhead attendant with brick-and-mortar stores. The common thinking is that luxury goods – or items that cost more than US$1,000 – need to be experienced for the first time in person. Most jewellery brands have their own stores or sell wholesale to multi-brand stores. As a result, the online experience is often no more than an electronic catalogue. This paradigm is changing. As more people become accustomed to purchasing luxury goods online (including high-end jewellery), we expect that the online experience will become even more dynamic and pleasurable. Brands will need to make sure that their websites do more than feature products. Websites will have to educate, entertain and entice customers in addition to showcasing products. Auvere earrings