In an era where most purchases occur with the clicking of a button, and the retail has become increasingly impartial, Polacheck jewelry stands away. Calabasas luxury store is more than one store – it's a weekend destination. Rich consumers browse brands like Rolex, Patek Philippe and Cartier while enjoying food and refreshments and talking to an expert staff.

“I've turned all my customers into friends,” says owner Brent Polacheck. “It'S'S important for me to know who is spending money with me because we will spend a hope of 10, 20, 30 years together.”

The business started 101 years ago when Ben Tipp opened a small diamond store in Seattle. After moving to Los Angeles in 1949, he became one of America's luxurious retailers. Polacheck is the fourth generation that runs his family business.

On a bridal occasion that exhibits diamonds and the ten -carat hours that can cost $ 2 million, Polacheck is not for everyone. But it understands the value of what matters most: building multi-generating relationships and providing a memorable experience. Its access offers valuable lessons for entrepreneurs in every industry.

In a recent appearance in a day with Jon Bier Podcast, Polacheck shared knowledge of building a luxurious retail business in the Amazon era.

Create an experience that is worth turning back

While many luxurious retail chains feel identical and unprofessional, Polacheck has become a community center. On Saturdays they turn the store into a social destination, complete with drinks and sushi.

“If you are going to spend your money somewhere, wouldn't it be in a great environment?” Asks polacheck.

Theeller is to do personal and memorable service – from staff providing are experts in their field until the creation of an atmosphere where customers and their families feel really welcome, not just tolerated.

Build stable relationships, not transactions

For Polacheck, business means lunch with clients, expect the dinners of the clock collectors, and even organizing trips to Geneva for auction with its most dedicated customers. When a client calls about a gift, his team will write pictures and handle the gift wrapping, saving them a trip to the store. This personal approach extends beyond the active purchases of potential customers, focusing on them within a 15-20 mile radius, which can become part of the store community than buyers once from overseas. Lesson? In luxury retail, building deep connections with the right customers is more important than maximizing individual sales.

Stay alert to market change

Success in luxury retail sales requires you to stay alert and capture opportunities before competitors can act. When Polacheck learned that another trader was thinking of opening in the Topanga area, he moved quickly to secure the location himself. Now he is building a 3,500 -square -foot roles Boutique there, one of just 20 in the United States. At the same time, he is renewing his Flag store and is planning a new Patek Philippe place.

Choose your customers wisely

With thousands of limited orders and inventory, the carefully polacheck veils that takes every hour.

“Selling a unit just to sell a unit makes no sense nowadays,” he says.

His team focuses on customers within a 15-20 mile radius, who will become long-term clients, than outsiders that can roll hours for fast profits. Access means to remove some light sales, especially from sellers. But finding the right client, not the right client now, is worth his weight in gold.

Today, Polacheck's is expanding with new places, including an independent Rolex Boutique opening soon in Topanga. While Polacheck prepares his children to eventually take on business – including his daughter who is gaining experience at another jewelry store in Vermont – he is seeing the children of his clients becoming the next generation of clients.

“Many of my clients are getting their children – that means we're doing something right.”