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New Direction at Nirvana – Fashion Scarves

If you’ve been reading this blog for any length of time, you’ll know that the core piece of advice we give to new jewellery business owners is not to over reach — to capture one market as much as you can before expanding into other areas.

One of the biggest mistakes jewellery retailers make is trying to satisfy too many potential customers. They sell jewellery for young women, for old women, for weddings, for children, for men… All because they want a piece of every market, and they want it now. They have their fingers in so many pies that they don’t know what’s working and what’s not; they can’t become the best in one area because they’ve diluted their efforts and finances so much.

Slow and steady wins the race.

Focus on one area, dominate that market as far as you can, and then think about expanding into other areas. That’s been our advice to new jewellery business owners for years, and it’s a rule we’ve lived by ourselves.

For the past five years we’ve expanded our range of fashion jewellery. From humble beginnings, we’re now the only major fashion jewellery wholesaler servicing UK businesses who regularly brings new styles to market.

We used to sell sterling silver as well as fashion jewellery, but no more. We used to sell watches, but we phased those out. We used to sell hair accessories. We’re now discounting our remaining stock in order to phase them out too.

Why did we abandon all of these other fashion accessories?

Because the product and the market wasn’t quite right. We’ve continued to grow our fashion jewellery range, cementing relationships with manufacturers and improving the quality and styles we sell. We now know that market inside out, and no importer or wholesaler in the British Isles can match us.

Over the past six months we’ve been dipping our toes into another area: Fashion Scarves. We’ve been testing suppliers, testing the market, testing our pricing structure — everything we tell retailers to do. All with an eye towards determining if this were a field we could enter and grow in as we have with fashion jewellery.

The answer is yes.

It took a lot of work, a number of mistakes and false starts, and many trips to factories in far off lands, but we’re now in a position to expand our catalogue in earnest into ladies scarves.

Over the past week we’ve been busy photographing and preparing a major stock update comprising 165 new styles of scarves. All of these scarves were sourced directly from manufacturers — manufacturers who we’ve met in person, and whose factories we’ve visited.

How many UK wholesalers can say the same?

We’ve put a realistic pricing structure in place that will allow our customers to make a substantial profit from these scarves, and we’ve trained our quality control people on the ground in what to look for to ensure quality remains high.

We have every intention of growing our scarves catalogue until it’s as comprehensive as our fashion jewellery catalogue. And because we’ve taken our time, making sure everything was in place before expanding, we’re fully confident that we can grow into this market just as we did the fashion jewellery market.

The recession’s over. Not everyone realises this yet, but it’s true just the same. It’s time to get busy.

13 Aug 2014

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