Shop LC Receives Recognition from Round Rock Chamber of Commerce
Every year, the Round Rock Chamber of Commerce recognizes local businesses in the community. This comes in the form of the annual business awards. This year, Shop LC receives the honor of being the 2019 Global Business of the Year.
“These awards represent the very best of Round Rock and each year the selection process gets more difficult. It is an honor and a privilege to recognize these winners,” explains the Round Rock Chamber of Commerce.
The award recognizes businesses based and operating within the Round Rock area that have a global presence. As a result, the Shop LC nomination is for its vertical integration and ability to supply low cost, high-quality products to its customers. Also, community outreach was recognized. Read on and learn how this happens!
Shop LC works closely with every level of the industry, from sourcing to manufacturing, to retail operations. For example, vertical integration makes possible sourcing efforts for the delivery of affordable jewelry, lifestyle, and home products.
Vertical integration means that a single company handles multiple stages of the supply chain. For instance, Vaibhav Global Limited (VGL), the parent company of Shop LC, controls about 65% of manufacturing for Shop LC.
As a result, this keeps costs down, and the savings are passed along to the consumer, bypassing the traditional high markups associated with jewelry and other products. This is important, as Shop LC can navigate changes to the industry that might severely harm other operations, such as the recent tariffs passed by the Trump administration.
Vertical integration provides Shop LC the privilege of introducing new home-grown gems like Oregon Peach Opal and Dinobone and products like My Magic Mud. Also, deep industry roots make possible the introduction of rare gems like grandidierite. Plus, thanks to these connections, a steady supply of tanzanite is available during mine closures and a volatile market. Few, if any, retailers are able to offer the same steady supply and price on their gemstone jewelry.
In the Community
Shop LC calls Round Rock home for the family-friendly atmosphere it offers our workforce, and the opportunities for growth it provides our business. Shop LC is proud to be a major employer in the area and doing our part to contribute to economic growth. With a strong economy across the country, Round Rock has been experiencing about double the average national rates. This helps with Round Rock being considered one of America’s top ten boomtowns.
For over ten years, Shop LC operations have expanded, and Round Rock has helped us meet these milestones. For example, in September 2019, a third building was added to satisfy growing a workforce and consumer demand. To date, Shop LC has around 500 employees, and many make Round Rock their home.
Shop LC Gives Back
Volunteer efforts and community give back occur at every level of the business. For example, the Shop LC One for One Program provides a nutritious meal to a hungry child for every item sold. Shop LC partners with Akshaya Patra and No Kid Hungry to distribute these meals and provide education resources for families in need. As of November 2019, Shop LC has provided over 15 million meals since the inception of the program in October 2017.
One of the biggest local initiatives is participation through the Round Rock Serving Center. Shop LC also volunteers and donates resources to Round Rock Independent School District, Austin Diaper Bank, and The Central Texas Food Bank, among others. In 2019, Shop LC donated over 2000 handbags to Texas Advocacy Project Handbags for Hope, for a total of over 4000 bags, making it the most successful year for the program, ever.
Employees receive paid time off to participate with these and other company-aligned organizations. These give-back efforts integrate into Shop LC operations as part of employee development plans.
The employee-lead Social Works Committee leads local volunteer efforts. For example, they identify, plan, and execute projects within our local community. Due to this importance, every employee receives paid time off to volunteer with these great organizations and others. For an example, learn about Shop LC sponsoring the Austin VA Clinic Concert for Veterans.
Shop LC and other winners will receive honors at the Annual Awards Banquet on January 29, 2020.