The ongoing progress of Stephen Silver Fine Jewelry’s new luxury retail development at Middle Plaza in the San Francisco Bay area has dominated the past year for the company.
“Navigating the design and construction of such a large retail space is a daunting experience,” president Jared Silver says.
“I cannot accomplish any of this on my own, so my focus has been on recruiting the best people in the industry to help my father [CEO Stephen Silver] and I execute our vision.”
The new store will put the Stephen Silver Fine Jewelry ship in a good position to navigate the squalls that Jared believes are heading the way of the industry.
“We collectively must negotiate a period of naturally relaxing demand, knowing that a certain type of customer and mindset set on financial gain is going to drop away,” he says.
“Our new store will give the blank canvas to design not only new customer experiences and exceptional service, but a space for the community to engage with a variety of cultural experiences as well,” he says.
Too often, Jared believes, the industry relies on a cookie-cutter approach to retail.
“As retailers, we bear some of the responsibility for this, due to complacency and lack of creativity,” he says.
“I think it is my responsibility to provide an environment devoid of the ubiquitous shop-in-shops that may look good in a presentation deck, but absolutely bore the customer. In my opinion, there is surprisingly little discussion of what the customer experience is like in a boutique where there is little or nothing to buy.”
When asked how he sees the next year panning out for his business, Jared doesn’t beat around the bush.
“Metamorphosis,” he says. “Our business will look completely different in the next 12 months.”
It sounds like Jared’s love of classic cars, motorcycles, skiing and live music might have to take a back seat over the next few months as he prepares to enter a chrysalis stage of Stephen Silver’s development.
