TJS Repositioned as Technology-Based Solutions Provider
Dubai, 08 October 2008- Established in 2005 as The Jewelry Store to explore more efficient gold jewelry financing using Radio Frequency Identification (RFID), TJS evolved into a provider of track-and-trace solutions for high-value items and is introducing its new brand identity under the name “TJS”.
According to Gabriel Nasser, CEO of TJS, the move is a natural progression to the technological aspect of the original TJS business. “Our own experience, as well as the market response, proved that delivering inventory monitoring solutions for jewelry and other high-value sectors is a business in its own right, with huge potential” said Nasser.
In its initial form The Jewelry Store operated a large vaulted showroom for gold jewelry wholesale where it successfully implemented its tracking solution as a part of a novel financing method.
“The original TJS shareholding has been restructured to allow us to concentrate on the development of our true competitive strengths,” Nasser said. “TJS will focus on track and trace solutions including RFID and move away from the wholesale jewelry business and the vault, which will be operated by Damas,” he explained.
TJS’s flagship product Ivory™ is a suite of RFID-based solutions that include software, hardware, and tags specifically designed with a tamper-evident feature. Ivory™ allows organizations to achieve complete inventory visibility of their products and assets with unprecedented ease and accuracy. It enables businesses and security companies to monitor their high-value items at multiple locations.
In 2005, TJS developed a proof-of-concept based on its RFID solution to address the inefficiencies of gold loans in jewelry trade. Early success prompted TJS to patent this model and start commercializing it in partnership with Standard Bank Plc, a leading gold lending institution, Brink’s Global Services, a market leader in risk management and secure logistics, and HID Global, a leading supplier of specialty RFID transponders.
The model, which was a finalist in the 2006 RFID Breakthrough Awards, a high recognition in the industry, is seen as a revolutionary improvement in the jewelry trade.
According to Johnny Hazboun, Chief Business & Marketing Officer of TJS, Ivory™ has been implemented successfully by more than 50 retail and wholesale gold jewelry outlets in the Middle East, North America and Turkey, and there is significant interest from Europe and Asia.
"The market is realizing the benefits and importance of deeper control and monitoring over high-value inventory, which is increasing the demand for our products and services, especially with the current global credit climate”, said Hazboun.
TJS’s experts are recognized speakers at international conferences and forums including the Hong Kong Jewelry and Watch Fair, Fiera di Vicenza, RFID Eurasia, RFID Journal Live, Cartes Paris. Forthcoming speaking engagements include the Arab RFID 2008 Conference in Dubai and Cartes 2008 in Paris, the world leading event on digital security and smart technologies.