Major Industry News

[LondonPearl]

There is breaking news in Europe which will have an impact in our industry all over Europe and further afield. I post the original link below which is in German.

https://www.gz-online.de/news-detail/schluss-fuer-schoeffel.html

At the “better end” of the market Schoeffel has been the largest player in Europe for decades. While Schoeffel has always been in competition with my company - I do feel sad that they are closing down. It is a measure of the stiffness of competition in the pearl industry combined with economic downturn.

 

[Pearl Dreams]

Thanks for posting.

Google translates it thus:

End for Schoeffel
For weeks rumors circulated in the industry, now it is official: The Stuttgart-based company Schoeffel closes at the end of March next year, all employees were terminated on this date. As managing director Till Schoeffel announced, there is no longer a viable business model for the company. "The decision to close now in a boom-and-tumble phase is easier because it gives my employees the opportunity to find adequate new employment. In a recession, a subsequent employment would be much more difficult. I wanted to avoid that at all costs. "Why there was no candidate to continue the company is a mystery even to the employees. Also on March 31, 2019, the subsidiary Roth Perlen, which was acquired a few years ago, will be dissolved. Till Schoeffel was on request for any further information. Read more about this topic and the reactions of the industry in the November issue of the GZ.

 

[pattye]

Thank you for this info. Sounds like there may be more details coming. Is this an online shop only?

 

[LondonPearl]

Thank you for this info. Sounds like there may be more details coming. Is this an online shop only?

This is / was the largest pearl company in Europe for decades - not an online operation.

 

[Lady_Disdain]

It is strange that they are shutting down completely instead of selling the company.

 

[dmj]

sad news ! a supplier told us a little bit ago, we always wondered how they where still standing so it was no surprise something had to happen but to close down was not expected.

 

[pearlescence]

It is strange that they are shutting down completely instead of selling the company.

They may have tried. I get approached by brokers trying to sell pearl businesses all the time, from big ones to facebook pearl openers (NOOOOOO). But not been approached for them
Maybe their books are very bad. Business value is based simply on profit with maybe a smidge for goodwill

 

[Cees]

It shows actually the state the pearl business is in, in Europe.
Yesterday I visited a prominent Schoeffel dealer in 's- Hertogenbosch in The Netherlands and for a few years the sales of pearls is almost zero.

Others however have become active but the total market is not as it was.

I wonder what is happening with Frieden Perle, the Swiss company Schoeffel bought recently.

 

[Pearl Dreams]

I wonder why this is so, that pearl sales are down in Europe?
Or is it the same all over?

 

[Cees]

Pearls are not popular in Europe as they were before. One reason is that consumers do not understand the huge price difference between fresh water pearls and oyster pearls.
A Valued Added Tax of around 20 % everywhere in Europe make oyster pearls extra expensive.

 

[KarinK]

It could also be because of the internet. People who know about pearls don’t shop much in real shops. I’d never buy pearls in Denmark. Way too expensive.

- Karin

 

[LondonPearl]

Pearls are not popular in Europe as they were before. One reason is that consumers do not understand the huge price difference between fresh water pearls and oyster pearls.
A Valued Added Tax of around 20 % everywhere in Europe make oyster pearls extra expensive.

I tend to disagree - pearls ARE popular in Europe. Consumers have become more price sensitive and branded overpriced offerings are simply not performing. Who would want to pay thousands for a branded item that is readily available in exactly the same quality for a fraction of the price?