summary
Brothers Skip and Steve Robbins (aka the Robbins Bros.) turned the jewelry industry on its head when they took a leap of faith and completely changed their business model to free-standing, engagement-ring only stores. Their strategy has worked, with $100 million in sales for 2006.
robbins brothers’ success story
- As children, brothers Skip and Steve would help with small chores in their father Eugene’s jewelry store in Pasadena, California. Here, they learned all about diamonds and also came to appreciate the value of customer service.
- After taking over the family business, the brothers noticed the proliferation of mall jewelry stores and decided to change their business model. They did two things which were considered revolutionary for their time: first, they moved away from the malls and opened a free standing store in a former bank building in 1995; second, they decided to focus exclusively on engagement rings.
- Robbins Bros. is now estimated to control 22% of the market and has 15 locations across the US in Southern California, Illinois and Texas. The average store does 10x the business of a comparable jewelry store, despite selling only on engagement rings.
- Their stores are known for their no-pressure sales associates and computerized information kiosks. They also have a Concierge Service that can assist with restaurant reservations, vacation planning, gift recommendation, and even dog walking.
- Skip and Steve are well-known in Southern California for their radio and TV ads (see below), which often feature the brothers in humorous, lighthearted banter. This lends a more personal touch to their business; in effect, the two brothers have become the brand.