| Type | Private Company |
|---|---|
| Industry | Jewellers |
| Founded | 1946 (Wilmington, North Carolina) |
| Headquarters | Wilmington, North Carolina |
| Key people | Alan M. Zimmer, President James R. Rouse, Treasurer Allan E. Metzner, Vice President |
| Products | Diamonds Jewelry Watches Swarovski Crystal Gifts and Accessories |
| Website | www.reeds.com |
Reeds Jewelers is a U.S. retail jewelry company founded in 1946 by Bill and Roberta Zimmer in Wilmington, North Carolina. Reeds Jewelers sells diamonds and precious gems, fine jewelry, brand-name watches, Swarovski crystal, and jewelry accessories in its chain of retail stores primarily located in shopping malls and in its online store Reeds.com.[1] In May 2008. "National Jeweler" magazine listed Reeds Jewelers as the ninth largest North American Retail Jewelry chain [2]
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In 1946, Bill and Roberta Zimmer bought a small downtown jewelry store in Wilmington, North Carolina and changed the name to Reeds Jewelers. Later, the Zimmers opened a store in Whiteville, Jacksonville, and other cities in both North and South Carolina. By 1979, Reeds Jewelers maintained two dozen retail outlets. Bill Zimmer and his wife Roberta ran the downtown Wilmington store and built their business while they also raised their family; all four children worked in the family business while growing up. Alan Zimmer joined Reeds Jewelers as executive vice president in 1981 and took charge of merchandising. He officially became president and CEO in 1985.[3][4]
In December 1986 Reeds Jewelers sold 600,000 shares on the NASDAQ, trading under the symbol REEDS. The company’s share of the proceeds, $3.7 million dollars were used in the acquisition of Dreifus Jewelry Company of Memphis, a nineteen store chain in the Southeast and Midwest, and a year later Gray's Jewelers, Inc., a five store chain based in Tulsa, Oklahoma.[4] In 1995 Reeds Jewelers purchased Melart Jewelers, a mid-Atlantic based jeweler operating stores in Maryland, DC, and Pennsylvania.[5] In 1998 Reeds Jewelers moved to the American Stock Exchange and traded using the symbol RJI.[6] In February 2004 the company returned to private ownership by the Zimmer family, making it the largest family owned jeweler in America.[7]
As of November 2008, Reeds Jewelers operates 66 retail stores in shopping malls and life-style shopping centers in 18 states: Alabama, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.[8]
Since 2003, Reeds Jewelers has sponsored a "Why I Love My Mom" essay contest for 4th and 5th graders to honor their mom on Mother's Day. Over 100,000 students have participated in the essay contest. The winners are awarded a diamond necklace pendant for their mom.[9][10]