Whitehall Company Jewelers
Marks Brothers Jewelers
Founded : 1895
Activities : Retailing fine jewelry and operating leased fine jewelry department stores
Parent Company : Finlay Enterprises
Stockists : 400 locations
Origin : 155 North Wacker Drive
Chicago, Illinois 60606
Marks Brothers Jewelers had grown so rapidly in such a short period of time that it became the fourth largest mall jeweler in the country, and the sixth largest jewelry retailer overall. Zales, Sterling Jewelry, and Service Merchandise are the company’s prime competitors in the malls, while Helzberg Diamond rounds out the general competition. Only two of these companies, Zales and Sterling, continue to expand their operations. Zales, which operates over 1,000 stores, has initiated a major marketing effort to capture new customers and intends to open nearly 200 new stores in the near future, and Sterling, having just gone through a period of consolidation, is also concentrating on opening new stores in malls throughout the United States. Service Merchandise closed its stores, and Helzberg Diamond has only opened 10 new stores during fiscal 1997.
With a growing trend toward consolidation in the industry, and the lack of new competitors on the horizon, Marks Brothers Jewelers is well situated to take advantage of the growing market demand from aging and affluent baby boomers for luxury items such as diamonds, jewelry, and gemstones. The family business that once regarded growth with suspicion is now positioned to become one of the most prominent jewelry retailers in America.
Grand Metropolitan’s Finlay Fine Jewelers division currently owns and operates the Marks Brothers, Lundstrom, and Whitehall Company Jewellers brands.