July 29, 2016
The Los Angeles Times asked Partner Ron Friedman for his thoughts about the declining Los Angeles jewelry market.
By Nina Agrawal
Jewelry manufacturing in the district slowed in the 2000s, and since the 2008 recession, many sellers have struggled to survive in an industry whose lifeblood is the lure of luxury. Now that downtown L.A. is seeing an influx of capital from new developers, rising rents are adding to the strain felt by the craftsmen and small-business owners who kept the area alive in years past.
"These people buy big," said Ron Friedman, a consultant to retailers and manufacturers. "They're buying a brand. They want brand. And I don't know that the downtown jewelry industry will cater to them because they're not branded."