Gold Deals

Anthony Ribeiro and his wife, Olivia, know their stuff when it comes to the jewelry business. If they didn’t then they definitely might have struck out by now. The husband and wife team now own four jewelry stores in downtown Port-of-Spain and there are plans for further expansion. The stores — two in Aboutique Mall and the others in Excellent City Center, Frederick Street, Port-of-Spain, is now staffed by 12 employees. The first store was opened up in 1996. The couple has apparently capitalised on the Trini obsession for gold and jewelry. In an interview at the opening of his newest venture last Saturday at the Aboutique Mall, the owner of Anton’s Gold Rush VIP said business was good.

He said he was closer now to realising his objective: to own and operate the biggest and most successful store in the country. He says he is not afraid of the established jewelry players. With the bar set so high,   Ribeiros has set about offering products that he thinks will be considered  unique in a highly competitive market. In fact, while Ribeiro admits that the jewelry market is indeed a competitive one, he is not worried. “I am in  league by myself,” he said. Ribeiro says that the jewelry market in TT is getting bigger, and while there are many stores being opened to meet the demand he maintains that he  has what it takes to beat any competition. Asked about financing for his business ventures, Ribeiro said it is “entirley self-funded.”

He says he uses his own capital and the money generated from sales to keep his businesses going. The difference, he said, is that he aims to  offer a one of a kind and unusual jewelry. This is evident as some of the items on sale at the store include yellow gold souvenir jewelry as well as island slippers pendants and earrings. The butter fly pendants were also eye catching. Most of the smaller pieces were intricate in detail and painstakenly put together. In fact, all of the designs were  done by Ribeiro himself. He was certified in 1996 in diamond cutting, designs and manufacturing in Miami.

To keep up with the volume of sales, Ribeiro has set up a  factory in Maraval. The jewelry, he said, is either locally manufactured or imported from the United States and Italy. While it is no secret that the price of gold is increasing, in fact the world market price is set at $750 per ounce. While the price of sterling silver is climbing because of its popularity, the prices are still being controlled. So what do customers want this Christmas season? White gold and diamonds, he said.