Business As Unusual: Daoud’s Fine Jewelry
The owner of Daoud’s discusses the impact of coronavirus on his jewelry business in the fourth of this series from Lifestyle Media Group
Lifestyle reached out to businesspeople all over South Florida—in categories ranging from retail and real estate to medical and automotive—and asked three questions: How did COVID-19 and the shutdown impact your business; how did you position your business in the interim; how will experiencing this unprecedented pandemic change the way you conduct business moving forward. Today, we check in with Patrick Daoud, owner of Daoud’s Fine Jewelry.
Patrick Daoud, owner
Business backstory: A family tradition that dates back to 1895, the Fort Lauderdale-based business remains a fixture on the fine jewelry scene, offering an always-impressive inventory of pieces (rings, necklaces, earrings, timepieces) from a variety of creative designers, as well as antique selections.
The impact: “For the health and wellness of our clients and employees, we decided to have appointments only for those looking to sell their jewelry for financial needs during these times of rising unemployment. We also are continuously contacting customers regarding their repairs, special orders and new orders—and we’re still utilizing our online presence to create sales. We always want to be available for all client needs, which is why I give my cellphone number to customers. All told, Daoud’s has 17 employees at the store—and we’re still paying all of them [with no time limit].”
In the interim: “We’ve been in the jewelry business for 125 years through five generations. The store has been through [its share of] ups and downs, but we have weathered many storms—and we’ll continue our success once this difficult period passes. Our plan is to assist and help our customers and community in any way we can—including through the many charities and organizations [with which] we are involved.”
The future: “This pandemic will change the lives of many Americans and businesses. Here at Daoud’s, we see it as an opportunity to think of new and inventive ways for us to continue our business. We plan to support our customers 24 hours a day, seven days a week [with] excellent service and quality merchandise and products.”