This month, the Barb Wire welcomes innovative jeweler Nick Linca, a managing partner with Provident Jewelry, a seven-store jewelry retailer.
The business launched 25 years ago as a jeweler specializing in estate goods. However, in 2008, it moved in a new direction by opening a luxurious, state-of-the-art store in Jupiter, FL selling higher-end branded goods.
Linca, who had been a manager at Zale in the late 1990s and a sales manager at Hamilton Jewelers from 2000 to 2008, was brought on to lead the launch of the Jupiter business.
Over time, Provident Jewelry’s Jupiter location has achieved status of one of the country’s most impressive jewelry stores, selling brands like Baume-et-Mercier, Bell & Ross, Breitling, Carl F. Bucherer, Cartier, Chopard and more, and featuring amenities like a fully stocked bar and cigar bar for customers.
Chatting with Barbara, Nick talks about the background of the business (2:00), and the importance of opening a store around the right people rather than the other way around (4:00). He discusses the mindset in opening the Jupiter store of creating a "third place" for customers, a la Starbucks — a place that is not work and is not home (6:45). Barbara raves about the quality of the drink bar and cigar bar at the Jupiter store (8:50).
Nick loves that his customers can be out golfing and invite a friend over post-round to relax at the jewelry store (10:30). He shares how the team at Provident likes to "blow it out" and have fun with store events, including an upcoming "Bubbles and Bling" party (14:20).
Barbara and Nick discuss Provident Jewelry's wide-ranging charity activities (14:30), including dog adoptions. And Nick shares the reasons why, over time, he has connected so much with independent watch brands (18:50) over time.
One reason is loyalty. After a 2011 robbery in which Provident Jewelry lost more than $15 million in inventory, and were uncertain to survive. During that stressful period, Nick saw how some brands acted like partners, and others didn't (20:30).
Watch discussion continues with Nick sharing how he used FaceTime to make direct sales to customers of newly released watches while in Basel (24:00). He also tells a story of an extremely unusual trade-in he received on a high-end watch recently (31:30).
In the later portion of the podcast, Barbara asks her regular series of standard regular questions. In this section, Nick shares his dream industry dinner partner (33:50), refers to his 65-year-old clients as “millennials" (35:20); tells of the useful people skill inherited from his father that helps him (38:00); identifies his biggest fan (38:40); and shares his favorite four-letter industry word, which we think could become yours as well (40:10).
He shares his favorite trade event (41:00), and talks of a few shockingly extravagant parties he has attended at this event over the years, as well as revealing the details of a fiendishly brilliant prank played with a chili pepper on a member of his travel party (44:10).