Roset by Reid
Family-owned jewellery retailer, Roset by Reid, based in Medicine Hat, AB is celebrating 40 years in business at their new location, a renovated old firehall on Dunsmore Avenue.
Company president, Chelsea Roset Siggelkow, is very excited about their new location that just opened in March. “We bought this old firehall as we saw so much character and potential in this place; it’s a big old building and had all the bay doors where the fire trucks would pull through. But we converted the garage area into this incredibly spacious jewellery store with a vaulted ceiling. We kept the history, the heritage and the uniqueness of the firehall, while updating and modernizing it into this chic industrial space.”
Roset Siggelkow is the daughter of the founder and CEO, Duane Roset, who purchased their original downtown Medicine Hat location in 1979. Over several decades the downtown city centre evolved, creating an issue for customer parking as the store’s clientele grew.
As Roset Siggelkow explained, “When we heard this firehall was going to be for sale, [buying] it kind of just came up in conversation with my husband Travis and I, and maybe that’s a bit of personal sentiment to us as Travis is a firefighter.” After a bidding process the property was purchased by the Roset Siggelkow’s and renovated with the intent to preserve the building as a piece of local history as well as their new store headquarters.
The new location for Roset gives the owners three times the retail space and an exciting, more glamourous look. They heard some had wondered about their move during the current economy and suggested investing in online sales instead of a larger store. But according to Roset Siggelkow, “I do not think brick-and-mortar is dead. I think the old mentality of business is dead where you do not have to compete or you do not have to be relevant in your pricing. I think people want a relationship with an old school shop and have those relationships that they built and forged over time. We want to be the jeweller with generational clients, where we have been working with their grandparents and the parents and the kids and it’s amazing to be able to watch them come into the store over time.”
It’s obvious Roset Siggelkow is passionate about the business and their client relationships. She asks all staff to focus on each client individually and build a relationship with them. “We are in a smaller city; it’s just under 65,000 people, and really how you differentiate yourself here is how you treat your customer. Our service is authentic, and that sets us apart; we will go the extra mile because we want to maintain long-term relationships.”
Roset offers a wide range of price points and products to suit any client and they customize to individual need. For instance a customer recently shared his personal story of a design he wanted and purchased a Noam Carver engagement ring for $1,600 with a 1-carat moissanite in the centre. Later in the afternoon, another client walked in with his vision about a stone, and bought a 2- carat round GIA certified, with a Veraggio ring, for $23,000. Roset specializes in getting the customer what they want within their particular budget.
Enlarging their retail space in the new store was designed to better serve their customers. Roset has a tradition of serving families, for several generations, and this has become a unique selling point for them. Clients like to see the store and staff, so the owners ensured the new location had space for them, maintaining that personal touch while also embracing technology.
Roset maintains their wholesale business by sourcing stones from all over the world to find the best deals. Customer service is important but they buy stones as competitively as possible to give their margins that extra edge.
Another thing the owners feel positive about is their staff which Roset Siggelkow describes as excellent. “They give 110% every single day and they all feel like family. It is a family-run business and although not all are related, we all feel like family.”
The company has two primary divisions; the retail store and the wholesale business. In addition to Duane Roset as CEO, daughter Chelsea is president of Roset By Reid, and son Tyson Roset is president of Roset Diamonds. “I know what I’m good at, dad knows what he’s good at, Tyson knows what he’s good at. So, we hire for our weaknesses; we hire for parts of the job we enjoy a little bit less so we can do the jobs we’re each really excellent at.”
Roset’s patriarch Duane Roset is in his 40th year in the jewellery industry and according to daughter Chelsea his greatest gift to the business has been his integrity; putting his devotion to making customers’ dreams come true ahead of profit. “Many customers have remarked how dad makes each client feel as if she or he were the most important person in the world.”
When reviewing the company’s success in the jewellery trade thus far, it appears this focus on customer relationships has worked well as a backbone for the family business. They proudly display this message in their website’s About Us section: “It’s nice to be important but more important to be nice.”