For jewellery buying group the Company of Master Jewellers, the focus of 2018 is to re-engage with its members and suppliers.
Last year presented a difficult 12 months for the buying group, but now with a new CEO at the helm, the board of directors are looking to get back to its roots.
Chief executive officer, Terry Boots, tell Professional Jeweller of his vision for the year: “It’s very simple really. It’s back to basics.
“We’ve said it a lot and it is a bit cliche to some degree, but it’s concentrating on the members and suppliers. We have lost that, or at least lost some of it. What’s happened over the last 12 months has been a distraction for obvious reasons so it is key just to ree-ngage with the members and suppliers, and say, Right, what do you actually want?”
Boot was acting as interim chief executive to the buying group for six months, and was officially named the CEO in January 2017.
During this time, Boot has worked closely with the board of directors and senior management team to steady and galvanise the group, which in its latest financial accounts disclosed a loss of £73,123 before taxation, despite the CMJ reporting a profit before taxation of £415,826 during the same period the year prior.
As interim CEO, Boot has already overseen the sell-off of one of CMJ’s subsidiary companies, Facets PR to its management team; and been instrumental in a detailed business review of the rest of CMJ’s group of companies.
Now he will continue to re-focus the business on delivering its main priorities and ensuring the Board’s objective of centring the focus on the core of CMJ, is met.
Boot is also looking to expand the CMJ’s retail network and shout about the services the Group offers.
“There’s a lot of potential retailers out there that could benefit from the CMJ,” he says. “I want to understand, why aren’t they in the CMJ? If we offer something that is a benefit, why aren’t they here?”
The CMJ is meeting this week (March 4-5) for its bi-annual trade event.
This two day event provides an opportunity for retailers to view the suppliers new pieces, meet with the board of directors and to network.