Diamond Council relocates headquarters to Nashville
After more than 20 years in the Midwest, the Diamond Council of America has relocated its headquarters to Nashville.
The move comes as the first official act of Terry Chandler, who was named president and CEO of the 57-year-old organization this month. Chandler, who has served on the organization's board for 13 years - the last three as president - says the move solves several problems for the council, a not-for-profit educational association for retail jewelry salespeople.
"The organization that had been running the council, Martin Fromm & Associates, closed its doors," Chandler says. "The board and I decided it was time to open our own shop, and not let an association management group operate us."
"One of the board's criteria was that we locate in a metropolitan area. I have been living in Paducah, KY, for 21 years, but my wife and I lived in Nashville for seven years 20-odd years ago. We always said one day we'd come back, so the timing made sense."
The board approved the move, so now the council has set up shop in a three-office suite on West End Avenue. From its new headquarters, the organization will offer its training programs to more than 2,200 independent and chain retail jewelry stores and diamond and gem suppliers it counts as members, while training materials and other inventory will be shipped out of the Diamond Council's previous home in Kansas City. Although other educational opportunities exist for this sector, the council's programs are unique in that they are specifically geared to entry-level individuals, Chandler says.
"That's our thrust." he says. "We are the community college system for organizations that do more advanced degree work. We deal with the beginners and the people who need a refresher course. We get them pertinent information and educate them quickly."
The council's two courses, the diamond and gem, run $115 and $95, respectively, for members. From entry to graduation a diligent student can complete the two in six to seven months, Chandler says, with the student paying for enrollment and then being reimbursed by their employer upon graduation. Since their inception, more than 75,000 individuals have taken the courses.
As for the council itself, it operates from member dues that are based on the number of stores a company has, he says.
"They pay dues to belong, and we deliver the educational product for literally a few dollars over the actual cost. It costs them less than $600 to $700 per student, overall, and becomes very profitable to most employers. Since we're non-profit, we can deliver our product at a price that's not available anywhere else."
Students are taught where they are, rather than traveling to classrooms. They are shipped their courses, which they mail back for grading throughout the duration, with the council handling the process from beginning to end.
"We use it for all new employees in sales," says Jerry McBride, president of Mike Glassner Inc., a seven-store chain in Roanoke, VA, that has been a council member for 30 years. "It's a basic training tool for us."
Glassner has about eight employees a year in the programs, McBride says, adding that the quality of education they provide has improved.
Chandler remains high on the industry's future as he completes the Nashville move, even in the face of an economy that would appear to spell trouble for jewelry retailers and others who sell luxury items.
"There's an old saying in the industry - when times are tough, business is good; when times are good, business is great," he says. "People perceive diamonds and fine jewelry as luxury times, but as items that retain their value. When the economy is a little difficult, people look at it as putting that money into something that will keep its value. In general, during slow times, the jewelry industry gets a boost in that sense - people are spending on long-term value."
-By Joe Morris, Nashville Business Journal