doris panos

Doris Panos Designs Emerges From Chapter 11 With New Vision

Filed under: Jewelry

Last year we wrote that Doris Panos Designs had filed Chapter 11. Now the couture jeweler has come out of bankruptcy, no easy feat at a time when many jewelers are struggling to keep customers. The brand has traditionally sold luxurious, heavily ornamented designs in rich 18K gold, pieces that are sold at Neiman Marcus and jewelers around the country. But in order to survive in today's changing market the brand did a little adjusting, adding lines to appeal to the jewelry lovers who still want to shop but at a lower price point.

Panos is courting the new, more cautious consumer in two ways. First through the "Precious Silver" collection, a line of sterling silver jewelry that uses a patent-pending gold layering process and retails at $2,500 and below. This line is meant to appeal to the company's Couture customer who still wants beautiful jewelry (and lots of it) but at a slightly lower price point. As Doris Panos tells Luxist, the new pieces are guaranteed for life, they includes six layers of yellow or rose gold over silver along with a protective coating that seals the jewelry and protects the finish. The pieces also include large semi precious gemstones and diamond accents for the look of a couture piece but at a lower price point. The pieces including bangle bracelets and necklaces of varying lengths, are meant to be collectible and worn together. As she puts it, "I don't make dainty things." She was not willing to compromise on style and design and using silver as a base allowed her to make the same style of pieces without the cost prohibitive issue of using just gold. These pieces will be sold through independent jewelers starting later this month and may eventually make their way to one of the larger department stores. Her philosophy is to sell through trusted retailers rather than have her pieces everywhere.

Panos is also courting a new consumer group through her contract with HSN. Her Telio! line debuted this summer. It offers some of the same detailed and powerful look of Doris Panos Designs but at a much lower price point (from around $39 to $250). About this line, Panos says it's the same idea as her other designs but done in costume. She defined the jewelry shopping universe as a pyramid, once she only sold to the top of the pyramid, now circumstances have dictated that she reach out to the other levels.

Panos is sanguine about her adventure through Chapter 11. She says that it helped give her the time to really re-invent herself and her brand. She's a good example, not just to other jewelers facing trouble, but to anyone facing adversity. "Be like Madonna," she said, referring to the singer's legendary ability to change with the times and trends, "don't just give up and wait for things to get better."

Tags: doris panos, hsn, precious silver

Jeweler Doris Panos Files For Bankruptcy

by Deidre Woollard (RSS feed) —

High-end jewelry line Doris Panos Designs has become the latest jeweler to file Chapter 11 bankruptcy protection. Papers filed in New York show that the company estimates that its assets and liabilities each total between $1 million and $10 million. Doris Panos is a jeweler who created her own business in 1993 after years in the field. Her dramatic pieces featuring large gemstones have been worn on the red carpet and appeared in many fashion magazines. Her line is sold at Neiman Marcus and other fine stores. The jewelry industry has been hit by many bankruptcies lately including Whitehall Jewelers, Fortunoff, Robbins Brothers and Ultra Diamonds.

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