In a business steeped in years of family tradition, Todd Malcolm is proving himself to be very much a man of the future.
It’s been more than two decades since Mr. Malcolm took the family business, Malcolm Jewelers, from its longtime brick-and-mortar location in downtown Moline to an office in the Weir Building at 5030 38th Ave., Moline, where he now meets clients by appointment.
The move to a new business model came when his father, George C. Malcolm, retired in 2002.
To say it marked a big change for Todd Malcolm is an understatement.
He described the transition: “So, if you could imagine, we went from a 3,000-square-foot store with a front and back, we wore a suit and tie, we had four to five employees, we had music going and customers in the store and phones ringing, and I decided I wanted to be a personal jeweler by appointment, and work one on one with my clients and cater to their individual needs.”
While the suit has been replaced by more casual business attire, the attention to detail, quality, and meeting the needs of the customer — traits which encompass “The Malcolm Way” — remain the same as when his grandfather, George D. Malcolm, opened the business on Moline’s 5th Avenue in 1941.
“My father instilled that, and his father instilled that in him before that,” he said. “If it meets your high requirements, it will meet your customers’ requirements. That’s kind of our niche — the quality, a heavier mounting, a higher quality diamond. And reasonable pricing, fair pricing.”
Mr. Malcolm, 63, who has almost 40 years’ experience in the jewelry industry, is a graduate of the Gemological Institute of America (GIA), where he holds the institute’s highest ranking of Graduate Gemologist. What he calls his “book learning” through the prestigious institute was combined with on-the-job training at the family’s retail store.
“I had my dad and the staff, and they took me under their wing,” he recalled. “As I later talked to my instructors about it, they said it’s the best way to go.”
Mr. Malcolm provides personalized services in diamond engagement and wedding rings, jewelry repair and restoration, diamond and colored stone remounts, colored stones, GIA-certified ideal and well-cut diamonds, and pearl and gold jewelry.
While it’s in his office, off John Deere Expressway, where he meets clients to discuss their jewelry needs, he also is as likely to discuss business with them through texts, emails, phone calls, and even FaceTime — and not all of it during traditional business hours. It’s all about meeting a new generation of customers where they are.
“That’s what’s been great about it. The kids are educated, and they know what they want and they have photos,” he said of his new Generation Z customers. “It just expedites the process and makes it a lot of fun because they really, really know what they want.”
One such couple is Kelan Whan and Allison Pennington of Milwaukee, Wisconsin, who are getting married in April. Ms. Pennington’s engagement ring and the couple’s wedding bands were purchased at Malcolm Jewelers.
Mr. Whan, a native of Moline, is a longtime friend of Mr. Malcolm’s sons. “It was always going to be Todd when it came to getting the ring,” the groom-to-be said. “As a younger generation, being able to take our time and do things over the phone is something that appealed to us. He really makes you feel welcome and valued in making sure it’s the ring that you want.”
Ms. Pennington said she came into the discussion with a general idea of what she wanted in an engagement ring and appreciated the opportunity for a back-and-forth discussion when Mr. Malcolm sent her designs.
“I would tell him, ‘I like this; I don’t like that,’” she said. “I told him what my vision was, and he worked with both of us.”
Mr. Malcolm said he is constantly sketching new jewelry designs.
“I draw on napkins, on scrap pieces of paper,” even on the back sides of paper placemats from restaurants, he said with a smile. His son, Shawn, has made digital scans of hundreds of his designs.
After he leaves his office, his work continues “with hours and hours in the studio, with research, drawing, rendering, working with gemologists around the country,” Mr. Malcolm said.
Dozens of his designs are represented in unique pendants he has made through the years — from his first piece in 2000, “In Mother’s Arms,” whose proceeds benefited Gilda’s Club of the Quad Cities, to his current signature collection, “Stories from the Heart.”
Over the years, Mr. Malcolm has designed pendants whose sales have helped other organizations, including Arrowhead Ranch, Sacred Heart Catholic Church in Moline, Living Lands & Waters and WQPT. The lifelong Moline resident said he feels it’s important to support the community.
The “Stories from the Heart” collection, which can be seen at www.malcolmjewelers.com, includes 23 pieces that reflect topics on love, family, faith, peace and tranquility.
Take, for example, one of his newest pieces, Guardian Angel. The design features an interlocked heart, angel and praying hands.
“This heart symbolizes both the angels’ wings as well as hands folded in prayer. The Guardian Angel pendant reminds us to trust and believe in our journey in life, no matter the situation,” the jeweler wrote in a Facebook post.
“What we tried to do is create pieces that told stories,” he said. Each pendant comes in a box with an 18-inch chain, polishing cloth, and its own story, written by Mr. Malcolm. The pendants are available in silver, gold, white gold and gold-filled.
“I like pendants because they’re viewable across a distance,” he said. “They’re closest to the heart and more people can really enjoy them.”
He is working with a long-time mentor to get the “Stories from the Heart” collection licensed with possible distribution to retailers around the country and even internationally in a move, he said, will “keep us relevant and keep us out there.”
Mr. Malcolm encourages other businesses to consider taking a leap of faith to position themselves for the future.
“We went to a virtual inventory,” Mr. Malcolm said of his decision to go to a “by appointment” business model. “We didn’t have to inventory a jewelry store, which saved a lot of money which I could give back to the consumer.”
Malcolm Jewelers still a family affair
Todd Malcolm is the president and the face of Malcolm Jewelers, but the Moline business is very much a family enterprise.
While his wife, Kathy, and sons Kyle, 29, and Shawn, 27, all have professional lives outside of the jewelry business, their involvement in Malcolm Jewelers is critical to the success of the company, Mr. Malcolm says.
Ms. Malcolm, executive director of planning and institutional effectiveness at Black Hawk College, is the company secretary and manages bookkeeping and accounting responsibilities.
“My wife has been very instrumental in the business,” he said. “She always lends an ear, and has always been there supporting me big-time.”
Kyle Malcolm, an account manager with Atlantic Coca-Cola Bottling Co., helps with sales and marketing, his father said. Shawn Malcolm, an architectural design professional with Rinka Architects in Milwaukee, handles social media and public relations for the family business. Mr. Malcolm relies on both sons to keep him informed of what’s trending for 20- to 35-year-olds when it comes to jewelry.
“They have been pivotal in helping me find my niche with this new breed of doing business,” Mr. Malcolm told the QCBJ. “They’ve got their own careers, but they’re still involved and supportive.”
Malcolm Jewelers is on Facebook, Instagram and LinkedIn. The company’s website is www.malcolmjewelers.com. Appointments with Mr. Malcolm can be made by calling (309) 764-1213.
– Jan Touney
