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Littman Jewelers - The history
Littman Jewelers which was established in 1902, is the biggest privately held, semi-guild retail jewelry store chain in the United States and the fifth largest United States retail jeweler overall. With stores in affluent consumer markets including Connecticut and Florida, Littman Jewelers was well known and respected everywhere in the jewelry industry for developing and introducing innovative store design concepts, for holding unique merchandising skills and for affording industry-leading customer service and support. Company administration had long instilled a strong sense of camaraderie and collaborative spirit among its 1200 sales associates and support personnel at the same time that it maintained tight running, financial and inventory controls over 153 stores spread over 1500 miles. The close, intergenerational relationship that Littman Jewelers kept with its broad customer base was both unique, and legendary, in the retail jewelry industry.
The retail jewelry industry was facing significant challenges because of increased online and catalog shopping, reduced mall traffic, years of debt-fueled consolidation among jewelry retailers and weak retail and economic environments. Several leveraged retail jewelers were being pushed to sell inventory below cost, putting significant downward pressure on sales and margins throughout the industry. Other retail jewelers were being forced to close their doors and liquidate stocks completely. Littman Jewelers presented a vastly different profile. Littman was a proud company with a proud history, a solid financial performance, an outstanding reputation, a top-notch management team and a loyal, growing customer base.
