Miami’s Bijoux Terner is one Florida business that just grew and grew during the recent Great Recession. The company has a history of finding trends before the rest of the market.
Cuban refugee Salomon Terner started a handbag factory in Miami in the 1960’s and eventually branched into costume jewelry. Bijoux Terner sold mostly to small retailers but had a few kiosks in Miami International Airport and Florida cruise terminals.
When a recession hit the retail business in the 1970’s, the kiosks were losing money. In a last-ditch effort to clear inventory, everything in the shop was listed at $10.
Everything sold up immediately and soon even restocking the stores fast enough was a major task. It became the strategy of Bijoux Terner – sell trendy accessories, jewelry, and travel items at $10 an item and develop a top notch distribution system so the shops always look updated and filled.
Bijoux Terner found there were dozens of licensees and franchisees that knew of good locations to reach the travel market. There are now 650 locations in 60 countries and 250 stores were added in the last eight years despite the economy.