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Jewelry Industry Management Consulting Firm

A.J. Tosyali – President of Benchmark Wedding Rings

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A.J. Tosyali – President of Benchmark Wedding Rings

CLICK ON THE PHOTO FOR COMPLETE SHOW NOTES.

A.J. Tosyali is the President of Benchmark Wedding Rings.

Benchmark’s precious metal products are made from recycled metals, and all Benchmark products are backed by their Lifetime Guarantee, which allows for the re-sizing and re-finishing of your ring.

Their manufacturing facilities have been in Tuscaloosa, Alabama since their inception in 1971.

 

Clickable Show Notes

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Question #1  –   Your father, Tom Tosyali founded Benchmark in downtown Tuscaloosa in 1971.  What was it like growing up on the manufacturing side of the industry?  And when did you realize you wanted to make the jewelry trade your life’s work?  Timestamp:  [4:16]

Question #2  –  As a second-generation jewelry manufacturer what are some of the significant changes you’ve seen on the manufacturing side of the Trade?  Timestamp:  [5:36]

Question #3  – In most luxury categories there is a strong partnership between the point of sale and the vendor themselves.  In today’s fragmented jewelry industry, how can manufacturers and independent jewelers build a true partnership where both sides win?  What are the dynamics, expectations, and levels of trust needed?  And honestly,  is it even possible?  Timestamp:  [6:37]

Question #4  –  One of the topics that seem to always come up in one form or another between store owners and vendors is the topic of “exclusives.”  Seems every store owner wants their own private collection that isn’t available to their competition or anyone else on the planet.  First off, is that even financially possible, but more importantly who could design separate offerings for 100’s of independent jewelry stores?  What advice would you give to manufacturers about exclusives?  Timestamp:  [8:31]

Question #5  – I was reading “The Retail Jeweler” the other day.  Volume 9, Issue 2 for March/April 2018 and in it was a really good article titled “On-Line versus Brick and Mortar” by Frank Dallahan.   The article discusses the growing number of designers and manufacturers selling their products online to consumers in direct competition with their retail jewelers.  This is a difficult, multi-faceted issue to be sure.  Are there any thoughts you could share in this ongoing discussion?  Timestamp:  [10:10]

Question #6  –  As I look at the U.S. jewelry trade today, and I can’t help but see an industry that seems to be stuck.  It’s as if the collective Trade is stuck between not really wanting to innovate, and not actually knowing how to innovate, especially when you compare jewelry to other luxury offerings.  From the manufacturing side of the house, what is your opinion needs to be done, and really what can we do to innovate and become top of mind again in the luxury marketplace?  Timestamp:  [11:51]

Question #7  –  When you look at the fashion industry as an example, in many cases, the manufacturing marketing works well, with the fashion designer’s marketing to promote their products and brands, even though the manufacturer may not be selling directly to consumers.  Do jewelry manufacturers still need to have the same effort to drive consumers to buy jewelry as when DeBeers was promoting “A Diamond is Forever”?  Do manufacturers need to be doing more effective marketing online to drive consumers into retail stores?  Timestamp:  [13:48]

Question #8  – Benchmark Jewelry is clearly a leading U.S. based wedding ring manufacturer.  In fact, your facilities are in the college town of Tuscaloosa, Alabama, which is the home of the University of Alabama.  First off, I’ve got to ask you why you would set up shop in Tuscaloosa vs New York or some other traditional jewelry manufacturing area?  And more importantly, what really sets Benchmark apart from a world of imitators both for clients and independent jewelry store owners?  Timestamp:  [16:07]

Question #9  –  A.J. you’re one of the true innovators in the jewelry trade.  I was reading about your partnership with the award-winning high-fashion designer jewelry company, Sara Blaine.  What are the advantages of partnering with another jewelry designer?  And do you think these joint collaborations are the next step in the evolution of the Trade?  Timestamp:  [18:09]

Question #10  –  We’ve covered a lot of ground today, but is there one question that I should have asked you, but didn’t?  Timestamp:  [19:24]

 

History of Benchmark Rings

Benchmark Rings was founded by Tom Tosyali. Mr. Tosyali became interested in jewelry while managing an army base store. As his interests in precious metals and gemstones grew, he began to make contacts in the jewelry trade, eventually opening up his own jewelry shop. In the 1960s Mr. Tosyali moved to the US from Turkey and continued to pursue his gemstone and jewelry interests, sourcing wedding bands and then popular diamond duos to help get his fledgling business in America off the ground. Mr. Tosyali raised his two sons while his company grew and eventually they joined the family business. AJ, the older brother, joined his father in 1997 and is now Benchmark’s President. In 1999, his brother BJ transferred his engineering degree to the family business’ Research & Development department. That same year the company launched its consumer and B-to-B websites to help facilitate Benchmark Rings’ marketing and sales initiatives.

 

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