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2 Longtime Arkansas Jewelers Merge

It will enhance opportunities for both stores to grow by sharing talents and resources in non-competitive markets.

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(PRESS RELEASE) HOT SPRINGS, AR — Lauray’s the Diamond Center of Hot Springs, AR, a family-owned since 1924, will be acquired by Murphy-Pitard Jewelers of El Dorado, AR, which has been in business since 1939. This “marriage” of jewelry tradition “is motivated by the strong commitment of both owners to continually improve customer service and to remain an integral part of their respective communities,” according to a press release.

The merger was the idea of Mark Fleischner, owner of Lauray’s, and Toddy Pitard, owner of Murphy Pitard Jewelers. Introduced by a mutual friend, the two owners quickly bonded, realizing that they share a common passion for their businesses, a mutual sense of pride in being part of the history of their hometowns, and a commitment to family-owned business. As Fleischner began to contemplate retirement in the coming years, he knew that Pitard was the man to partner with to continue his legacy. In his own words, Fleischner explains, “We wouldn’t tie our name and share our business with just anyone. Our family has worked for three generations in serving the people of Hot Springs, so we have a lot to protect. With Toddy and Amanda, though, it just feels like family. We are excited for them to be a part of ours and to become a part of theirs.”

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Both stores share similar roots and values. For the owners, Mark and Patti Fleischner of Lauray’s, and Toddy and Amanda Pitard of Murphy-Pitard, the new ownership makes sense. Together, the two businesses provide over 170 years of jewelry experience. With Toddy being a master bench jeweler and Amanda being a graduate gemologist, the Pitards bring significant credentials to the table. In addition, Murphy-Pitard boasts two certified in-house watchmakers who will now be able to service the watches of Lauray’s customers in a local setting. The patrons of both stores will still see their respective owners in-store for daily operations.

“It’s a real blessing to play a part in bringing these two communities together. Many of our customers have vacation residences in Hot Springs or have retired to Hot Springs Village. We are thankful to be able to join them where they are and build new relationships with the Hot Springs locals,” said Toddy Pitard.

The merger will enhance opportunities for both stores to grow by sharing talents and resources in non-competitive markets. According to Toddy Pitard, “By uniting our store managements and leveraging our brand and industry relationships, we will achieve stronger buying power for more brand opportunities with lower ticket prices. There’s certainly strength in numbers, and we couldn’t be more excited about this partnership.”

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Press Releases

Rembrandt Supports Hurricane Michael Recovery with Exclusive Charm

It features the hashtag #850strong.

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(PRESS RELEASE) WILLIAMSVILLE, NY – To support recovery efforts after Hurricane Michael devastated the Florida Panhandle in October, leveling homes and businesses, Rembrandt Charms has created an exclusive engraved charm for Smith and Smith Jewelers.

Smith and Smith Jewelers is a family-owned business serving historic downtown Marianna, FL, for over 20 years.

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Rembrandt’s custom charm features the hashtag #850strong, adopted by the residents to symbolize their determination to overcome the damage caused by Hurricane Michael. Wearing this charm and charm bracelet shows support for recovery efforts and reflects the powerful bond, as well as the courage, the members of this community share as they work together to rebuild their lives.

“We were deeply saddened by the devastation wreaked by Hurricane Michael, and our thoughts and prayers are with all of those affected,” said Eric Lux, vice president, Rembrandt Charms. “The opportunity to help strengthen a community affected by such a tragedy is something we value and will always support.”

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Canadian Jewelers Association Begins Management Transition

He will continue to be involved with the CJA as a freelance writer.

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(PRESS RELEASE) TORONTO – The Canadian Jewellers Association (CJA) announced that it has initiated a transition of its management personnel.

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Following the completion of his scheduled 18-month contract as executive director, Mr. Brian Land recently left that role and the association. He will continue to be involved with the CJA as a freelance writer. Ms. Carla Adams, currently a manager in the association office, will discharge the duties of executive director on an interim basis until a successor to Mr. Land is named, likely by mid-January.

“Brian Land was engaged primarily to assist in managing the amalgamation of the Canadian Jewelers Association with Jewelers Vigilance Canada,” said Mr. Marco Miserendino, chairman of the CJA Board of Directors. “The knowledge and skill he brought to that file was of great assistance. The successful completion of that assignment now enables both Brian and the association to determine and pursue their respective future directions,” Mr. Miserendino added.

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TrueFacet.com and Stephen Silver Fine Jewelry Partner On Boutique

It’s open in time for the holidays.

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(PRESS RELEASE) SILICON VALLEY, CA/NEW YORK – Luxury digital marketplace TrueFacet.com has partnered with independent jeweler Stephen Silver Fine Jewelry to present a collaborative retail boutique in Silicon Valley.

The TrueFacet and Stephen Silver Fine Jewelry boutique is located in the Silvers’ second boutique space at the Rosewood Sand Hill Resort in Menlo Park, CA, which officially opened on Nov. 14. The boutique is stocked with TrueFacet’s selection of pre-owned watches and fine jewelry collections from luxury brands such as Rolex, Cartier, Van Cleef & Arpels, Patek Phillipe, Panerai and Audemars Piguet.

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With this collaboration, TrueFacet will gain access to the Silvers’ network of Silicon Valley clientele and international collectors, while Stephen Silver Fine Jewelry can effectively scale its fine jewelry, estate jewelry and rare collectible timepiece offerings while harnessing TrueFacet’s digital reach and consumer insights.

TrueFacet Co-Founder Tirath Kamdar stated: “Silicon Valley is TrueFacet’s third-largest market, and we saw the potential for even more growth by partnering with the demonstrated leader in offline shopping experiences in the area, Stephen Silver Fine Jewelry. We see our partnership as a merger between the physical and the digital space. It’s something we are very excited about, that has never been attempted in this industry. There is a real synergy between our companies, with Stephen Silver’s expertise in rare estate pieces, and our leadership in the Certified Pre-Owned category, offering thousands of products unavailable anywhere else.”

Since its founding in 2014, TrueFacet.com has crowdsourced much of its pre-owned watch and fine jewelry inventory through customer trade-ins, consignments and customer sales, growing its marketplace inventory to over 140,000 items. Each item is authenticated and refurbished in-house or directly by brands through TrueFacet’s groundbreaking Brand Certified Pre-Owned program, launched in August of 2018.

TrueFacet has relationships with Brand Certified Pre-Owned partners like Zenith, FENDI Timepieces, Faberge and Roberto Coin. The digital marketplace has also recently partnered with Messika to power a branded U.S. e-commerce site for the international jewelry brand.

Stephen and Jared Silver, a father and son team, have earned a reputation among Silicon Valley’s VC community as early adopters of new technology. Where other jewelry and watch retailers have seen e-commerce marketplaces as competition, the Silvers saw an opportunity to invest in TrueFacet, a data-driven, tech-forward digital marketplace, and eventually took on an advisory role with TrueFacet.

Stephen Silver Fine Jewelry President Jared Silver saw an opportunity to expand the relationship with TrueFacet as luxury retail partners.

“TrueFacet makes an ideal digital partner because the company’s high-touch service and impressive global reach complement our own strengths,” he said, “and through this partnership, we will also gain access to TrueFacet’s wide selection of certified pre-owned inventory.”

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