Retail Merchandiser - May/June 2017 - M14

JEWELRY TELEVISION

JTV's focus on creating engaging and fun
programing in an omnichannel approach has
helped it reach across demographics.

all skills JTV needed and Matthews' time as a consultant
ended up serving as an audition. In April of 2008, he
became CEO and president of the company and set out
to stabilize the business in what became a very difficult
market situation.
The positive part of being a business that serves as an
early indicator of an economic downturn is that it gave
JTV time to prepare. "We saw what was coming and
quickly initiated a comprehensive financial engineering
effort to avoid a financial collapse," Matthews says. The
company restructured its financials, eliminated hundreds of
jobs and altered its own discretionary spending to align its
expenses with revenue.
The changes were difficult, but they preserved the
company during the most significant economic downturn
since the Great Depression and allowed JTV to return to
profitability within 10 months. "We exercised our skill in
financial engineering to do the things we had to do across
all areas of our business," Matthews explains.
Following the restructuring, JTV's second goal was to
strengthen its balance sheet by bringing in more diverse
revenue. The company began considering opportunities
and in 2010 it found a significant new investor in Gems
TV, a Singapore-based shopping network. The investment
helped to further stabilize JTV from a financial perspective and set the stage for the company to resume its
once-accelerated growth.
14

RETAIL-MERCHANDISER.COM

May/June 2017

Maintaining Affordability
JTV's management during the Great Recession gave the
company a solid financial foundation as the economy began to recover, but the retail market itself was in the midst
of its own transition. JTV's 24/7 television network was
the most direct way to reach consumers when it started in
1993, but shopping habits had evolved drastically by 2010.
Online shopping was becoming a larger part of the company's business and customers coming out of the recession
were more value conscious. JTV needed to implement new
technologies that supported those trends if it was going
to once again grow. The company focused on three areas:
warehouse automation, a gold exchange program and a
new consumer payment plan.
The consumer payment plan directly addressed the
affordability of JTV's gemstones and jewelry. One of the
problems during
the recession was
Sarda Inc.
that when money
Sarda Inc., a sterling silver, Balinese jewelry
became tight,
manufacturer, is known for high quality
families comcraftsmanship and detail in every handmade
pletely nixed luxpiece. The quality of silver and gemstones
Sarda uses has led to their successful
ury items from
relationship with Jewelry Television, and into
their budgets.
booths at the most prestigious trade shows.
Someone who
This June, you can find Sarda at JCK, Las
might have spent
Vegas in the Sterling Plaza.
$100 a month on


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Table of Contents for the Digital Edition of Retail Merchandiser - May/June 2017

Contents
Retail Merchandiser - May/June 2017 - Intro
Retail Merchandiser - May/June 2017 - Cover1
Retail Merchandiser - May/June 2017 - Cover2
Retail Merchandiser - May/June 2017 - 1
Retail Merchandiser - May/June 2017 - Contents
Retail Merchandiser - May/June 2017 - 3
Retail Merchandiser - May/June 2017 - 4
Retail Merchandiser - May/June 2017 - 5
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Retail Merchandiser - May/June 2017 - 7
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