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Luxury Jewellery Merchandising Coordinator

2 months ago

London, Greater London, United Kingdom De Beers Group Full time

Position Overview:

The High Jewellery Inventory Specialist plays a crucial role in managing the stock of the High Jewellery category, ensuring that inventory is strategically placed and priced to meet market demands.

This position is client-focused, emphasizing exceptional service in the realm of bespoke and high-value diamonds.

Collaboration with various markets is essential to maintain a well-balanced product assortment that aligns with sales performance and overarching business strategies.

The High Jewellery Inventory Specialist will oversee one direct report, the High Jewellery Assistant Inventory Specialist.

Key Responsibilities:

High Jewellery OTB Management & Forecasting

  • Develop and finalize the Open-to-Buy (OTB) for the High Jewellery division, covering Finished Goods, Loose Diamonds, and Mounts in accordance with budgetary guidelines.
  • Manage New Work Order Allocation (NWOA) and Return to Purchase (RTP) in collaboration with the Design Business Group (DBG), from range planning through to monthly inventory oversight.
  • Oversee reorder processes to maintain budgeted stock levels for all global High Jewellery inventory, ensuring optimal replenishment of Solitaire Diamonds, both round and fancy cut.
  • Work closely with Supply Planning to ensure adherence to budgetary constraints regarding costs and quantities.

Special Orders, Bespoke & Competitive Pricing

  • Provide senior management with pricing strategies and proposals aimed at maximizing margin outcomes.
  • Establish strong communication and influencing skills with senior management and regional leads to deliver innovative solutions for unique requests from VIP clients.
  • Exhibit confidence with numerical data, ensuring accuracy in pricing and margin scenarios that directly affect regional Profit & Loss (P&L).
  • Supervise the daily operations of the assistant merchandiser, including event calendars, client transfers, and special orders.

Strategic Planning

  • Monitor discontinued product lines, providing recommendations and defining exit strategies in partnership with the Senior Merchandising Manager to optimize stock clearance.
  • Lead the High Jewellery team in comprehensive analyses to identify business opportunities and risks.
  • Prepare detailed sales and stock analytical presentations, offering recommendations to enhance the planning process.
  • Conduct annual reviews of model stock (per store and SKU), regularly adjusting strategies for improved stock efficiency.

Pricing Strategy

  • Analyze pricing across various currencies and competitive positioning, making recommendations to align with the pricing strategy of the organization.
  • Monitor foreign exchange rates to remain informed about economic factors influencing global pricing, suggesting adjustments as necessary.
  • Possess in-depth knowledge of exceptional diamonds, including color grading and market trends, to accurately price high-value diamonds.

Distribution Management

  • Guide sales and stock management by mentoring the High Jewellery assistant.
  • Create synergies with local merchandising teams to foster proactive approaches.
  • Coordinate with logistics and quality control teams to prioritize deliveries, replenishments, and shipments.
  • Develop strong interdepartmental relationships to support sales and maximize product availability, while staying attuned to retail needs and marketing events.

Analytical Insights

  • Identify shortages, overstock situations, and sales opportunities by preparing monthly Merchandising KPIs and presentations.
  • Conduct monthly reconciliations of stock, sales, and intake.

Qualifications:

  • Graduate-level education or equivalent experience.
  • GIA or Diamond Certification preferred.
  • Extensive experience in a merchandising role, particularly within the jewellery sector.
  • Strong knowledge and passion for the jewellery industry.
  • Commercial acumen, with experience in analytical roles or merchandising.
  • Proven ability to analyze sell-through rates, inventory levels, and pricing strategies.
  • Demonstrated success in driving incremental sales growth in a commercial environment.
  • Experience leading and collaborating within cross-functional teams.
  • Exceptional organizational skills and effective critical path management.
  • International experience is a plus.
  • Excellent communication skills, capable of engaging with stakeholders at all levels.
  • Ability to convey information clearly and persuasively, both in writing and verbally.
  • Build strong, effective working relationships.
  • Energetic and self-motivated, inspiring others to achieve high performance.
  • Commitment to fostering a diverse and inclusive work environment.
  • Proficient in Microsoft Office applications (Excel, Word, PowerPoint).
  • Familiarity with SAP is advantageous.