Jewelry is 'a shining opportunity,' says one exec.
JCPenney has revamped its jewelry-department offerings and rolled out a new trademark, "JCPenney Co. Fine Jewelry, Est. 1902."
On Oct. 30, the company (NYSE: JCP) launched a selection of smartwatches in 245 stores and at JCPenney.com. They include brands such as Samsung, LG and Garmin.
JCPenney is revamping its jewelry department.
JCPenney also "unveiled a reinvigorated Modern Bride concept that offers today's bridal customers designer styles at a value," according to a press release.
Fine jewelry is "a shining opportunity amid an ever-changing retail environment," said Pam Mortensen, senior vice president of fine and fashion jewelry and watches at JCPenney.
"Fine jewelry is an extremely personal purchase, boasting some of the most loyal customers in our store," Mortensen said. "By bringing the latest trends in smartwatch technology into our assortment, we have the chance to attract new customers and introduce them to other areas inside JCPenney."
Last week, JCPenney's stock "tumbled the most in more than three decades" as the company said it expects to report third-quarter losses of 40 cents to 45 cents per share, Bloomberg reported.
In select stores, smartwatches from Samsung, LG, Garmin, MisFit and Relic will be presented as an interactive customer experience where shoppers are encouraged to touch, play and discover the features and benefits of each watch, according to the release. JCPenney said it is developing a Watch Professional program that will train fine jewelry associates on the technical aspects and characteristics of each brand, including the smartwatch assortment. Prices for the watches range from $155 to $350.
The Modern Bride concept, which began with Condé Nast in 2011, has been "refreshed" with "inspiring graphics, updated fixtures and glittering in-case presentations in a modern, fresh environment," according to the release.
"An all-new engagement guide highlights the expansive assortment of wedding jewelry found at JCPenney, including five collections within the Modern Bride concept," the company explained.
"The wedding ring purchase is a gateway to the rest of the store and Modern Bride represents a significant opportunity to develop a life-long customer relationship as she gets married, buys a house and starts a family," Mortensen said. "She is a budget-conscious customer and comes to JCPenney for the value that we offer - without sacrificing design or quality. We already know that Modern Bride customers shop twice as often and spend significantly more than the average JCPenney shopper, and this beautiful new fine jewelry experience will introduce more brides and grooms to JCPenney."
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