Oct 11, 2007

GHTA RAB Member Solves Keystone Challenge

Earlier this year, the Gift and Home Trade Association, the industry’s non-profit professional trade association, issued a challenge to its members: find the origin of the word “keystone” as it’s used in our industry. After the topic came up during a GHTA-sponsored education session, the organization surveyed the Board of Directors, none of whom knew where the word “keystone” originated. It wasn’t until Retailer Advisory Board member Carol Schroeder worked with her local librarian, Jim Eggler, at the Madison Public Library in Wisconsin that the answer was discovered.

The term keystone originates from the jewelry trade and it has come to mean that 50% of the stated price should be considered to be the wholesale price. In 1896, readers of the jewelry trade publication, Keystone, complained that the publication, which customers might find on jewelry counters, printed the dealers’ costs for products. The magazine itself likely took its name from a fancy diamond cut, known as a keystone cut.

In issuing the keystone challenge to its members, GHTA offered a $250 reward for a correct answer, sponsored by Andy Bjork of BrassSmith House and Randy Newcomb of The Newcombs. To thank her local library for its assistance, Schroeder has donated her $250 reward to the Madison Public Library.

About the GIFT AND HOME Trade Association:

GHTA is the gift and home industry’s non-profit professional trade association formed to help vendors, sales agencies, industry affiliates and retailers work together to improve the industry. GHTA’s mission is to lead and transform the gift and home industry to ensure its long-term health and viability. GHTA hosts an annual conference, and distributes monthly newsletters, to inform and educate its members. GHTA also has a nine-member Retailer Advisory Board that advises on how best to support independent gift and home retailers. GHTA can be reached at 138 Garfield Street, Denver, CO 80206, 1-877-600-4872 / 720-748-4872 Fax: 509-479-5254, or by email at info@ghta.net. For more information on the GIFT AND HOME Trade Association visit giftandhome.org.