CEO of Blue Nile interview

[kenny]

I enjoyed watching this CNN interview of Diane Irvine, CEO of BN.

Scroll down for the video.

http://money.cnn.com/2010/09/24/pf/layaway_goes_luxury/index.htm?hpt=C2

 

[MissGotRocks]

I saw that on CNN. Interesting.

 

[John P]

A well-done interview. "Become educated and buy smart" and "value speaks to customers" are strong and timely platforms, especially with the employment problems and credit worries in our economy. Value-consciousness has escalated in importance across all demographics, especially as conspicuous consumption has become less socially acceptable - after all, who wants to buzz a new 3 carat ring around her girlfriend when the girlfriend's husband just lost his job?

While not mentioned specifically I think Mrs. Irvine understands the value of BN's positioning in terms of reach, and not just referrals: 90% of buying is still done in B&M stores but this trend of value-urgency is causing more and more consumers to turn to the internet for research - and not just price-point research. More consumers are becoming more educated about more components of significant purchases than ever before. In recent years this has swelled the ranks of a different (more evolved) buyer-class in the jewelry-consuming mainstream. This group of people does not respond to market opacity or dated sales tactics. They respond to fair pricing and added-value. They can also be your best customers if the right things are emphasized.

 

[tradergirl]

Buy 1000 shares of the stock. It might get you your newest piece of bling.

http://www.businessinsider.com/tech-takeover-targets-2010-8#blue-nile-nile-6

 

[kenny]

Whoa! That link used the "W"-word.
What if WalMart buys Bluenile?
Talk about the inclusion hitting the fan!

With WalMart's reputation for ruthlessly squeezing every penny out of suppliers will diamond prices plummet?
Will diamond cutting move to China en masse?

 

[tradergirl]

No. My guess is they'd go to selling frozen spit like they do in their stores.