Young Jeweler Aims to Appeal to Discerning Millennials with Purchase of Multi-Use Building in Downtown Indianapolis

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Designer and owner of Blumlux Jewelry, Nick Blum, purchased a 4-story building in downtown Indianapolis to convert into a multi-use center – a move that aims to attract the discerning millennial generation back into jewelry retail shops.The roughly 14,000 sq. foot space will be used for luxury lofts and four retail/service tenants, including Nick Blum’s Blumlux Boutique.

Designer and owner of Blumlux Jewelry, Nick Blum, purchased a 4-story building in downtown Indianapolis to convert into a multi-use center – a move that aims to attract the discerning millennial generation back into jewelry retail shops.

The roughly 14,000 sq. foot space will be used for luxury lofts and four retail/service tenants, including Nick Blum’s Blumlux Boutique.

Online diamond and engagement ring sellers like Blue Nile are experiencing tremendous growth. As millennials buy more and more jewelry online, they are shopping in-store less and less. The Jeweler’s Board of Trade announced that 2014 saw a 29.4% increase in jewelry retailers who called it a day.

But Blum doesn’t believe his generation is a lost cause: “It’s not like we are not getting married or not buying jewelry, we’re just finding different ways to buy it. The traditional jeweler doesn’t speak well to our generation. And just like they were slow to adopt the e-commerce trend, they are also slow to address the purchasing habits and expectations of the millennial consumer. Most stores seem dated and have a hard ‘salesmen’ approach. We want an easy-going, comfortable and unique experience.”

Nick Blum’s current Blumlux boutique resides in Broad Ripple Village and resembles a lounge more than a traditional boutique. At his current by-appointment-only boutique, Blum offers drinks and cigars (if you’re of age, of course) while addressing all of your jewelry needs. It has worked well so far, but Blum wants to take it a step further: “The current boutique has been a great start. But it never quite captured my full vision. With the purchase of this new building I can really achieve what I have been planning in my head all these years.”                                                                        

Blum’s plans are quite unique for a retail jeweler. The new Blumlux store will feature a walk-in front shop that will sell a new lower-priced Blumlux collection, and an assortment of curated products from Nick Blum’s favorite designers. This front section will offer normal business hours – no longer “by appointment only.”

But it doesn’t end there. The shop has a secret door that hides Nick’s boutique lounge and design studio. This backroom is reserved for the high-end Blumlux products & bridal collections – but open for all interested customers.

To capture his experience, Nick Blum’s interior design will be a modernized take on prohibition-style speakeasies. And once again, Nick vows to make his guests feel comfortable, explaining, “I want all my guests to never feel pressured into buying anything. I want this to be a place where people can just come, hang out, and enjoy a drink or cigar. That’s why I’ll have my design studio in there as well – so they can see how I work and feel like they are a part of the process.”

In addition to the perk of his short commute to work (down the elevator), Nick hopes his multi-use building will help bring traffic to all of his retail/service tenants in this newly developed residential neighborhood in downtown Indy: “This building would allow me to execute how I have always envisioned my Blumlux Boutique. But I also wanted to make it part of a lifestyle center and create a unique leisure destination.”

Lastly, Nick Blum plans to use the side of his building facing Interstate-65, the main transportation artery in downtown Indy, as a billboard for the Blumlux brand. “Yeah, that’s a nice perk too”, admitted Blum.

Development begins in September with an expected opening in early winter 2015.

For more information on BLUMLUX, contact The Abbiamo Group at (818) 319-4200 or visit http://www.BlumLux.com.

Based in Indianapolis, Indiana, and founded by Nick Blum, BLUMLUX offers a unique selection of exclusive watches, bridal jewelry, and a variety of custom services. BLUMLUX may be best known for their watches and their signature Vena Bridal Collection, which features two red rubies set inside ring shanks, an homage to the origins of marriage. Blumlux has acquired a trade-dress for their designs, securing his Vena Collection design as an exclusive offer from the Blumlux brand. Nick Blum opened his current boutique in November 2013 with a promise to deliver unparalleled, one-on-one customer service, and was named one of Jeweler Circular Keystone’s (JCK) Rising Star Brands.

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Nick Pucci
@BlumLux
since: 08/2011
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