Phase I of our secret project and my third quarter goals are both going really well, even though I’m spending an inordinate amount of time on the manuscript for my next book, which is a guide to calculating intrinsic value of stocks, bonds, real estate, and other assets.

Everything Merging Under the Kennon & Company Brand

Remember the $31,000 we spent on the paid search advertising pilot program last September?  Yeah, part of that involved testing various keywords to determine if we were better off running our retail companies as separate domains or under one, parent brand.  I didn’t tell you that at the time because there was no reason to do so.

Following the successful divestment of JustBabyGifts.com and WonderfulWeddingFavors.com, we are bringing in luxury niche-market baby gifts and such to the Kennon & Company store and online boutique.

The results of that test helped us confirm our belief that we can grow even faster by consolidating everything under a single brand name and online store and unleashing all of our advertising dollars, search optimization efforts, and time on that one luxury “superstore”.  The search engines and shopping engines, which serve as a major source of new customers, are now sophisticated enough they don’t require individual domains for various product lines.

Thus, as part of the launch of Cherrywood Capital Group, we successfully divested JustBabyGifts.com and the WonderfulWeddingFavors.com, leaving us with a pile of cash to focus our attention on building a retail holding structure that mirrors our sporting goods businesses all under the Kennon & Company brand.  (My guess is, those two sites will be shut down later this week and absorbed into the new business that owns them.)

Don’t misunderstand me … we will still be in the baby and wedding gift businesses, but they will be departments within the larger Kennon & Company family, giving us access to far more prestigious product lines that require physical retail locations and economies of scale when it comes to purchasing and banking relationships.

We came to this decision after realizing that we had developed a client base of high net worth individuals that are fiercely loyal to specific brand names;  for example, we have professors who call and want several thousand dollars worth of fountain pens shipped to their offices and successful women who come in and drop $1,200 on charm bracelets.  We ship expensive watch cases to the United Arab Emirates and luxury gifts to Italy.  By focusing on these customers and getting into fields most people don’t even know exist (e.g., $300+ bottles of perfume and cologne), we can mint money as a niche market provider to the top 10% of wealth in the United States.  Most start-ups don’t have the money to carry these types of products; they just can’t afford it.  We have a huge advantage here.

The truth is, while I appreciate and care for the big, cash-generating sporting goods investments we own, I love the high-end retail holdings.  We have the resources and intelligence to figure out how to build this into something, even if it is necessary to move heaven and earth.  I’m excited about the decision to increase our commitment to the retail companies.  They are almost – almost – as important to me as the capital markets trading of stocks, bonds, and other assets.  That says a lot.

The Lesson You Can Take Away from This

Six months ago, I was speculating what the holding company may end up looking like and explained that it comes down to the returns that are available; e.g., if tomorrow, I knew we could get 25% compounded on a chain of car washes, I’d be at the bank, borrow a few million dollars, and we’d be in the business overnight.

This is one of those shifts that I didn’t see coming until the growth rates and returns on capital were put in front of me, in black and white.  If you are going to be successful, you must allocate your money to the best performing investments in your portfolio.  We let the free market tell us that Kennon & Company has the potential to deliver substantial earnings and growth to our shareholders.  As a result, it now receives more money, times, and focus than it did a year ago.

What are the highest returning investments in your own life?  How can you get more money out of them?

Related posts:

1. Cherrywood Capital Group Launches
2. What Is Kennon, Green & Company Ultimately Going to Look Like?
3. A Brief Flirtation with a Cinnabon Franchise

The Grafton cologne for men from Truefitt and Hill retails for $75.00 per bottle.

We are expanding our shaving section at Kennon Home Accessories and one of the things I’ve been testing is the Truefitt & Hill line of shaving creams, shaving lotions, aftershave, colognes, and other products. It is toward the higher end of the price point when it comes to luxury shaving sets for men (a bottle of aftershave, shaving cream, cologne, and shaving oil would retail for $202.00) but after using it, I don’t think I could ever go back to the products I used for most of my life.

The Grafton aftershave from Truefitt and Hill retails for $42.00 per bottle.

Truefitt and Hill is the company that has been making shaving creams and personal fragrance products for the British royal family and aristocracy for centuries. In fact, they crafted a $2,000+ sterling silver shaving set that is available via special order and is purportedly used by the House of Windsor. The company history is magnificent and it is clear to see why when you experience the products themselves.

The fragrances of the Trueffitt and Hill shaving set family are unique – you aren’t likely to find anything comparable among the other shaving set companies. You are also going to find that they become personal. Once you find the one that pleases you most (or your spouse, depending upon who has the stronger opinion), you aren’t likely to deviate. We have customers that specifically stop by to refill on their fragrance of shaving cream when they are in need of a new box.

The Luxury Shaving Set Business a Compliment to the Pen Business

The Grafton shaving cream from Truefitt and Hill retails for $30.00 per box.

Aaron and I have been discussing if the shaving set department would be a natural compliment to the fountain pen and writing instrument business we are expanding. They would likely have the same demographic profile, meaning they could be marketed together, along with the Bosca briefcases and other upscale leather products.

The Truefitt and Hill shaving oil retails for $55.00 and softens hairs before the shaving process begins, making it much faster and smoother.

Having gone through my first box of Grafton fragrance shaving cream, I wholeheartedly recommend it to anyone who wants a great shaving experience, especially if you use the entire line together, from start to finish. I had no idea what shaving oil was until I used it and … really, it’s just that good.

Kennon & Company and Kennon Home Accessories

All in all, we’re still transforming the business into what I want it to be. I can’t wait to have a luxury retail company that consists of the brands and products that I use exclusively and give to friends and family for Christmas. By adding shaving set products like Truefitt and Hill, we are getting closer to that objective. It will still take a lot of time (and money) to fully realize the dream, but it’s going to happen. Unlike my other companies, this one won’t be for sale at any price because I want the emotional benefit of owning a store like that.

The Cartlon Barley gold safety razor retails for $190.00.

I’m also convinced that the flagship store will be in a larger community with the prototype location becoming a boutique version.  For example, we could have the store in Missouri but a main store in The Woodlands, Texas, which would support a larger operation and nicer brands (I’d love to someday get into Rolex and Chanel watches, for example).

Still, it is the perfect test ground as we expand into the industries that appeal to us both as investors and as merchants.  This is what I talk about when I say that business should be fun.  In a round about way, I’m being paid to find products I love and share them with the world.

No related posts.

I worked my way through the Cinnabon franchise disclosure document that the Focus brands company sent and the problem I'm having is two-fold: 1. It seems like the investment itself is a craps-shoot in the sense that there appear to be a few highly successful Cinnabon franchise locations but the others may not be (I can't tell, obviously, without speaking to individual Cinnabon franchise owners), and 2. It probably isn't worth the time investment relative to the potential profit payoff.

I mentioned yesterday in the article on Dairy Queen franchise owners that after graduating from college, Aaron and I had looked into putting capital to work by opening several franchises in the town where we grew up.  We thought it would be a good place to invest the money we were earning from our other businesses without having to be involved on a day-to-day basis.  In other cases, we thought it might be a good way to structure companies so that our immediate family members could make an investment alongside us and, in some cases, run the companies as managers / minority-owners.

One of the companies we researched was Cinnabon, the maker of (what I consider) to be the world’s best cinnamon rolls.  The company’s owner, Focus Brands, sent us a franchise disclosure document and I began working my way through it.  I love the Cinnabon brand and the idea of owning a local Cinnabon franchise is appealing because it would mean I could grab a cup of coffee each morning from my own business.  It obviously wouldn’t be a large part of our holdings, but it would have a certain emotional appeal and bring jobs to the local community.

Here are our thoughts …

Cinnabon franchise owners sell Cinnabon cinnamon rolls, cupcakes, coffee, lattes, and bite-sized treats.

I cannot discuss what’s in the document itself, but suffice it to say that a quick Google search shows that the typical investment for a Cinnabon franchise ranges from $71,000 to $370,000 depending upon location and size.  Since virtually all Cinnabons are on leased premises, the lease expense isn’t included in this figure because it counts as an on-going operating cost.

We had one of our companies contact the leasing agent at the local mall, who quoted us a price of roughly $1,500 to $2,200 per month for the premises.  This particular mall is notorious in the community for attempting to charge higher rents than the market will bear (which is why a good portion of it remains vacant), so it’s possible we would have opened it in a neighboring community, instead.

Let’s presume that payroll costs and insurance would run $5,000 per month.  This gets us up to $7,000 in fixed expenses.  That is $84,000 per year.

Working the Cinnabon Franchise Numbers Backward, a la Jacobian Inversion

Here is where our Charlie Munger / Jacobian inversion comes into play …

Cinnabon franchise owners serve a special blend of Seattle's Best coffee, which is made by a subsidiary of Starbucks.

If a Cinnabon franchise can earn gross profit margins of 50% (I’m not exactly sure what they are), break-even would require sales of $168,000 annually.  Furthermore, let’s presume that the average ticket is $5 (again, I don’t have exact figures so I have to estimate using what is available on the Internet).  This means that in any given year, our theoretical Cinnabon franchise would have to complete 33,600 orders.  If we are open 365 days per year, this is a bit more than 92 orders per day.  If we are open from 10 a.m. to 9 p.m., that is 11 hours each day, meaning we must sell 8.36 Cinnabon orders per hour.  That works out to one customer every 7.17 minutes.  (Just to break even.)

That means that if we sell less than $168,000 per year, or $14,000 per month, in Cinnabon cinnamon rolls, we will be running red ink.  I don’t do losses.  They aren’t my style.

The corollary is that anything above this figure is gravy (or, er … cinnamon roll icing, to be appropriate).  That’s where the investor profit originates.

To give you an idea of the way the math works, let’s imagine that I decided I could sell a Cinnabon cinnamon roll every 3 minutes (there is no way in the mall we were examining, but I want to provide you a contrast). Total revenue in this case would be $401,500.  As an investor, I would be left with $116,750 in pre-tax profits.  (The math: If we are open 11 hours a day, 365 days per year equals 240,900 “selling minutes” divided by one $5 ticket every 3 minutes = 80,300 total tickets – 33,600 “break-even” level tickets = 46,700 net tickets * $5 = $233,500 x 50% profit = $116,750 profit for owner / investor on total revenue of $401,500).

Side note: This is why it is so important to have the actual figures that matter – 1.) average ticket price, 2.) average gross profit margin, 3.) average operating profit margin, and 4.) expected conversion rate of customers walking by to Cinnabon customers who make a purchase.  The figures for the profit scenario I gave you are totally unrealistic; I wanted you to see how when you cross a certain threshold, everything falls to the bottom line.  In finance, this is called “operating leverage”.  The higher the company’s operating leverage, the greater the profit when it exceeds its break-even point but the riskier it is because if it falls below it, things get really nasty, really fast.

Now, to be fair, the point here is that the payroll expense that is a “cost” to us as investors is, in many cases, profit to an owner-operator. In other words, if someone were to use their money to open a Cinnabon franchise and served as the full-time manager with their kids working after school with them, that money is flowing into their household so that has to be figured into the equation.  For this type of person, a Cinnabon franchise is far more lucrative and offers better returns on capital.  We, however, are looking at it from the point of view of a pure investor.  It would not be a productive use of my time, for example, relative to the opportunity costs to put on an apron and make Cinnabon cinnamon rolls from customers all day.  I’d enjoy doing it, but the hidden expense would be all of the foregone profits from our investing operations.

It All Comes Down to Opportunity Cost

Cinnabon remains a great brand and if we were to ever open a hotel or shopping center, we would almost certainly want a Cinnabon franchise.

Thus, the problem that we now face is opportunity cost.  Let’s presume that in our market, the total expense of opening a Cinnabon franchise would be $250,000.  Our calculus for determining the appropriateness of this as an investment is different from everyone else on the planet because we own different assets and have different income sources.  (This is one of the reasons I don’t like when people ask me, “What is a good investment?” because so much of it comes down to what you own, the strength and diversity of your income sources, your own passions and interests, etc.)

In our case, if we were to put the $250,000 to work in our retail store, Kennon & Company and the online business, Kennon Home Accessories, we could expand into additional product lines and increase our selling square footage without a lot of additional cost structure.  Even if we only turned our inventory 1x per year, that would be an additional $107,143 pre-tax profit at 30% operating margins on a $250,000 investment.  Cash-on-cash, that is 42.8572%, a staggering figure.

In the end, our decision to reinvest in our own companies and not acquire a Cinnabon franchise had less to to do with the terms of the Cinnabon franchise itself and more to do with the relative returns available to us in our other businesses, which still have a lot of growth left in them before maturing and going into dividend mode.  For a working married couple who hate their job and want to be their own boss, while earning a decent living, a Cinnabon franchise may or may not be more appropriate.

Related posts:

1. The Dairy Queen Franchisee Revolt
2. Cinnamon Apple Baked French Toast with Sweet Potatoes

For the first, I understand what Buffett and Munger mean when they say there is "no master plan". If you follow attractive values, and focus on opportunity cost, you end up in places you never expected. I have no idea what the firm will look like 10 years from now, only that we will focus on generating the highest risk-adjusted real return on capital.

I’ve been thinking a lot about the ultimate form the partnership or the holding company is going to take when I consolidate everything I own – all of my private businesses, stocks, bonds, real estate, and other assets, along with my parents, family, and friends, under a single investment vehicle (I explained this in We’ve Finally Settled on a Course of Action).  This has been occupying and increasingly large percentage of my time, mostly because I think the best thing to do is to simply raise capital, take a percentage of the profits, and then invest the money in the best risk-adjusted opportunities.  Which opportunities present themselves and which time is beyond our control, so there’s really no way to predict, ahead of time, what our holdings will be.

I do know, however, that there are a few areas that interest me.  I’ve been breaking them up in an organizational matrix so I can think about how to put together the various “pieces” when the time comes.  This is probably 5+ years in the future.

Here’s the plan …

The point is, we may or may not be involved in any of these industries.  They are merely areas in which I have an interest and a competitive advantage in understanding.  What the empire ends up looking like will depend almost entirely upon opportunity cost and the prices at which we can acquire control.  The only thing I care about is earning the highest risk-adjusted real return on capital.  If that means that I end up owning a media distribution business in Southern Asia and nothing else, then so be it.  What I’m doing now is drawing “circles of competence” around which I look for opportunities.  This concept was originally created by the legendary CEO of IBM, Watson, but made famous by Warren Buffett because he quotes it all the time.

Kennon Home Accessories is one of our new retail companies, selling everything from cashmere scarves to diamond-tipped fountain pens. Right now, it is in beta mode. After a few years, when I truly understand the industry, what sells, what doesn't, and how to improve inventory turns, I'm going to put a hell of a lot of capital into it and blow the doors off the place, even if it means selling stocks and bonds to fund it.

Retail: I would love to end up owning something like a Borsheim’s, Meirettos, or Hamilton Jewelers, generating substantial sales from a single location.

Right now, most of our online stores are consolidated as part of the Cherrywood Shops family.  This includes retailers selling everything from baby gifts and wedding favors to letterman jackets and murano glass beads.  We also have the prototype retail store, Kennon & Company, in a town just north of Kansas City, where we test our merchandise.

Over the next few years, we will be building the stores, redeploying cash from our other operating businesses into them.  On a long-term basis, once we get the formula down, I’d be willing to invest heavily, perhaps getting into fine watches, diamonds, or other merchandise.  It just comes down to the return earned on capital.  If I can be satisfied that the money is there, I’d seriously consider selling off stocks, bonds, or other assets and expanding the store, and its product offerings, exponentially.  It’s like anything else in my life … I spend years studying it on a small scale and then (what looks like overnight to people on the outside), it’s 10x larger than it appeared a few months earlier.

Maybe I get this from my parents.  When we were kids, they sat us down and explained they were starting a business, saving their money, and that we could really make something of it if we worked hard but it would mean sacrificing for many years.  They asked what we thought, and if we were willing to do that.  We talked about it and basically voted as a family.  Everyone got behind the decision we continued to live in a rather pathetic 900 square foot house for many, many years as the capital built up silently in the background.

Finally, one day, my mom decided it was time to get a new house because the business was self-funding.  Again, they sat us down and took a vote, asking if we wanted to build something in the town where we grew up (Savannah, Missouri), or move somewhere else.  We voted for the latter and started house shopping.  We found what we liked and they dropped a couple hundred grand on the new place.  The business, however, always came first.  (I didn’t realize, at this time, that most people spend everything they can on appearing well-off rather than investing.  I mean, the house purchase was tiny in comparison to the machine purchases my parents were making to buy equipment for the company because the house, although it was nice, couldn’t generate cash whereas the company could.  That is why most people never progress financially, for what it’s worth.)

Anyway, the point is that within a 30 day period, it looked like we went from a tiny house driving a 10-year-old van with no hubcaps to a huge new one, with new cars, and a bigger company.  Apparently, this caused some of our family and friends shock and, in some cases, a bit of passive aggressive anger, which I never understood.  Then again, I’m somewhat dense that way because I still don’t get it.  Our balance sheets were more important than our pride.

There is something about inexpensive businesses that are simple that make me extremely happy. I think it probably goes back to my upbringing. Growing up in towns like Lee's Summit, Savannah, Warrensburg, and El Dorado Springs made me appreciate that a good business that serves people, without a lot of fuss, creates jobs and makes lives better. These are the sorts of things I want to own. I like the idea of my family and my shareholders driving by and saying, "We own that. Look at the customers in there."

Hospitality Group: I love the idea of owning mid-tier hotels (Comfort Inns, Hampton Inns, etc.) that generate steady streams of earnings over five to ten year periods when bought well.  I also love the idea of “cheap” businesses, such as The Waffle House, or car washes, that have an easily determined return on capital.  As our other businesses throw off cash, having a collection of assets that can use that cash almost instantly to fund expansion is going to be important.  The hospitality group is going to have to have some sort of debt component, although I think my conservatism will shine through and we will have far more equity than the bankers and Wall Street say is “standard”.  I love the idea of knowing that my family and my shareholders are making money from customers as they eat at our restaurants and sleep in our hotels, while we’re at home or the office, reading The Wall Street Journal over a cup of black coffee.  This will come later, and most likely start because some hotel goes onto the market for less than I think it’s worth.  It could be 3 years, it could be 25 years, but at some point, this division will be launched.

Sporting Goods: We already own several sporting goods companies, specifically on the manufacturing side.  I grew up in this industry so I like the idea of holding on to these, although if it meant getting my hands on enough capital to launch my other projects, I would consider parting with them.  The only complicating factor here is that some of my companies, and the company my parents own, compete against one another in some ways.

Insurance: Anyone who knows me understands that the first 25 years of my life consisted of me being obsessed with the insurance industry.  One way I made quite a bit of money early on was preparing NAIC statutory accounting vs. GAAP reports to search for companies that were over estimating reserves so I could buy shares of stock when they appeared to be fairly valued (knowing that earnings were purposely being artificially depressed).  Something about adjusting deferred acquisition costs still makes my heart stir.  You don’t have to get it – no one seems to, anyway.  It just makes me happy.

The property and casualty insurance group is going to be a huge part of the overall plan, giving us access to low-cost float and a business that I enjoy.  Through it, we can also offer financial products and services, such as annuities and mutual funds.  That’s why I spent so much time interning at a $5+ billion insurance company on the East Coast and learning from the controller and CEO so much more than the industry (the company’s culture was the secret to its success and that’s what is going to be the hardest part to structure, develop, and maintain in any firm I own).  They also taught me a lot about internal audit.  I had no idea how important that function was but it was definitely driven home.

Publishing: Our publishing business includes digital content, downloads, subscriptions, and other services that have 90% or greater operating margins, drowning us in cash that can be redeployed to other divisions.  The model is to build a network of sites that have content contributed from readers, thus building themselves.

Video Games: The video game company will be close to headquarters, and both Aaron and I will be involved.  In many cases, I will compose the soundtracks for the games (one of the reasons we both spent $140,000 each to attend one of the best music schools in the United States on a voice scholarship for my undergraduate degree, learning music theory, composition, etc.)  We will focus on creating great games.  It is that simple.  I’ll make the money and resources available to create products that build franchises.

The Bottom Line

I can’t wait for my family and friends to spend their paychecks buying shares of the company so that when they drive by businesses, they know they own part of it.  While the shareholder base is still small, we can have an annual dinner at our house, taking questions about operations and investing in general.  The ultimate form we take – hedge fund, publicly traded stock, or privately held business by invitation only – is still a mystery.  As I said before, it will be mostly opportunity cost and the availability of certain assets that determines the answer.  The only strategic plan is to grow our capital.  How that is done isn’t important.

Related posts:

1. We’ve Finally Settled on a Course of Action for Kennon, Green & Company
2. Cherrywood Capital Group Successfully Divested Two of Its Investments
3. The Kennon Retirement Insurance Plan

David Oscarson Consider the Liles Black Pen

Sweet!  David Oscarson released the next installment of his pen series called Consider the Lilies.  They were inspired by Luke 12:27 when Christ said, “Consider the lilies, how they grow. They toil not, neither do they spin; yet I say unto you, Even Solomon in all his glory was not arrayed like one of these.”

Here’s the company’s official statement on the pens:

Marking our Tenth Anniversary, the Lily Collection speaks of our gratitude for all that is virtuous, beautiful and pure. In a world full of clouds and error, the Lily Collection reminds us of all that we hold precious, all that we hope for and all that we aspire to be.

The Lily Collection incorporates three levels of Guilloché engraving and six colors of translucent and opaque Hard Enamel on each Collection piece. The entire body of each pen is first cut down to the level of the background, leaving the outer and inner lines of the lilies, pads and leaves in high relief. The backgrounds are then kiln-fired with opaque Hard Enamel in either Black or White. The Lilies are the first Collection pieces to incorporate three colors of Hard Enamel onto one surface without separating each of them with dividing lines in high relief and the three colors of the daylilies graduate and gradate inconsistently, emulating nature’s unique ability to distinguish one lily from another.

I have got to get my hands on both of these.  The rollerball version lists for $4,700 with the fountain pens coming in at $4,900 each before sales tax.

Consider the Lilies White Version David Oscarson Pen

The great, eternal question is, of course, whether or not to ink a collector’s edition fountain pen.  Personally, I buy them to write.  I say ink away, absolutely, positively.  These are not just financial investments for me.  They are tangible and in that regard, they are different from stocks or bonds.  You can see them.  At some point, they become emotional attachments, as well.  I can still pick up the two Montblanc pens I bought as my first writing instruments when my mom took me to Omaha to visit Warren Buffett’s jewelry store, Borsheim’s.

At the time, I was in college and I spent $500 or $600 on the two pens, which consisted of a black and platinum rollerball Montblanc LeGrand and a black and gold fountain pen Montblanc LeGrand.  They still sit in my office at headquarters today.  In fact, I used them to sign the papers when I bought my first house, to sign my book contract, and a lot of other important documents.  I’ve used them to sign the incorporation papers for some of the businesses we launched this year.

These are not mere excesses or trivialities.  They are probably one of the best emotional and financial investments a man (or woman) can make if he knows what he’s doing.

Related posts:

1. Aurora Talentum Classic Fountain Pen
2. The Postman Just Brought Gifts
3. Michel Perchin Pens Really Turn Me On

Triple Burl Wood 9 Pillow Watch Case

When you own businesses, certain orders just make you happy. Of course, you appreciate every one, no matter how small. From time to time, however, there is something about a particular piece of business that just makes you smile.

We actually do respectable global business through many of our online businesses. Surprisingly, quite a bit comes from The United Arab Emirates, specifically areas such as Abu Dhabi. Apparently, we just sold a $700 watch to a professional soccer star and are shipping the merchandise to his home there.

It’s crazy to think that as I sit here, working on a MacBook Pro, drinking coffee, and reading stock reports, there are people all of the world browsing the pages of companies that I own, buying products that generate cash for me to redeploy into other investments. It was always the goal, but the fact that it’s happening halfway around the globe is just amazing to me, even now.

Related posts:

1. The Success of the iPad Will Come Down to App Development

Lately, I’ve been writing with a black and gold fountain pen from Aurora. It came as part of the inventory expansion we did at Kennon Home Accessories to launch the pen business this winter, and I’ve got to say, I’ve never written with anything like it. Truth be told, despite it being only $325 retail, it feels far more durable and enjoyable than some of the $850 or $1,200 pens I own.

Aurora Talentum Classic Fountain Pen in Black with Gold Trim

Related posts:

1. David Oscarson Releases New Pen Series
2. Classic 1956 Mercedes Benz
3. The Postman Just Brought Gifts

Murano Glass Beads for Chamilia Charm Bracelets

Our Kennon Home Accessories business, which is the online site launched in fiscal 2009 that sells thousands of luxury gifts, just expanded into murano glass beads and charms.  These stunning works of art are worn on charm bracelets and are made using a technique mastered in Italy centuries ago by artisans.

The truth is, until the folks at the Kennon & Company retail store introduced them to me, I had no idea how big of a deal they were.  As a man, my exposure to jewelry is mostly limited to fine pens, watches, and cufflinks.  Make no mistake, though, the women who suggested the product knew their stuff.  These charm bracelets are tremendously popular with some customers routinely dropping between $300 and $700 per visit simply to augment their murano glass bead jewelry charm collection.  We are weighing the brands to bring in now to accent our Chamilia product line.

We have hundreds of murano glass beads available for sale at Kennon Home Accessories.

To date, we have added several hundred sterling silver charms and murano glass beads to our online inventory and hope to have the rest of the merchandise up and available for sale by Christmas of this year.  It’s an ambitious goal, especially with the expansion of our other sites and the launching of the new team business, but I have faith.  By focusing on serving the customer and keeping costs low, we win.  It is a formula that has worked for time eternal and will continue to work in the future.

Related posts:

1. What Is Kennon, Green & Company Ultimately Going to Look Like?
2. Cherrywood Capital Group Successfully Divested Two of Its Investments
3. My Verdict on the Truefitt and Hill Shaving Sets and Shaving Product Line