Events & AwardsMar 14, 2025
JVC Reveals Recipient of Stanley Schechter AwardReeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.
IndependentsJun 29, 2016
Calif.’s Readers Fine Jewelers Closes After 72 Years
The family-run store closed its doors after noticing consumers were spending less and wanting more custom jewelry, eliminating the need for a large store and inventory.
Readers Fine Jewelers, established in California more than seven decades ago, closed its doors for the final time last Saturday.
Santa Monica, Calif.--Another longstanding independent jeweler has called it quits.
Santa Monica’s Readers Fine Jewelers ended its long run in California last week, shutting its doors for the final time on Saturday.
Readers was established more than 70 years ago and acquired by Eddie Guerboian in 1983. His son, Avedis, joined the family-operated business to become the sixth generation involved.
Avedis Guerboian told National Jeweler that the decision to close the store was made because they noticed most shoppers were spending less and wanting more custom jewelry, eliminating the need for a large store and inventory.
He added that he has established a custom jewelry business with his Edward Avedis collection, noting that it “makes sense to evolve with the market” as he builds a following online and through social media.
Prior to Readers’ closing, Avedis Guerboian posted a farewell letter on his store’s website.
In the letter, he talks about how today’s millennial shoppers are different, the challenges they bring, and what they should understand about small mom-and-pop shops. As a millennial himself, Guerboian speaks from his experience and perspective.
It reads in part, “Now, we face an evolution in how retail business is being conducted. Especially in the jewelry world, millennials are buying products in a new way. The Internet has changed everything. It has essentially put the consumer in control and there is no way to fight it.”
He also noted in the post the struggles with today’s consumers doing research ahead of time and the obstacles that brings.
“Now, it's all about how fast, cheap and better can I get it for. Feeling like because you Google it or watched a YouTube video, you know better than the business owner. I keep hearing this word, ‘democratize’ the industry, give the power to the consumer. Well, the consumer isn’t always right. The Internet isn’t always right. You didn’t put 10,000 hours in a business to know the craft. You’re not suddenly an expert on diamonds because you saw a certificate online and read about it on Wikipedia.”
The full letter can be found on the Readers website.
The point of the letter, he told National Jeweler, was to bring attention and gratitude to his parents’ generation, who did a lot to build up the industry.
“I myself am taking their generation for granted and have to be patient and find a balance,” Guerboian said.
Editors' Picks
Sponsored by
More on Independents
The Latest
CollectionsMar 14, 2025
Piece of the Week: Sorellina’s Aries Zodiac PendantThe piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.
MajorsMar 13, 2025
Tanishq Opens 2 New Stores in the U.S.The Indian jewelry brand recently opened stores in Atlanta and Seattle.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
FinancialsMar 13, 2025
Brilliant Earth’s 2024 Sales Struggled Amid Engagement RecoveryCEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.
Weekly QuizMar 14, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 13, 2025
Chopard Unveils High Jewelry Collection Created From 6,225-Carat Emerald The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.
MajorsMar 13, 2025
Jewelers Mutual Names New CFO, TreasurerChris Anderson is joining the insurance provider as the new chief financial officer and treasurer.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
Lab-GrownMar 13, 2025
JA Offering Some ‘Counter Intelligence’ on Diamonds Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.
SourcingMar 12, 2025
5 Factors That Will Impact the Diamond Industry in 2025The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.
SourcingMar 12, 2025
Q&A: New GJEPC Chairman Kirit BhansaliBhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.
Lab-GrownMar 12, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
SourcingMar 12, 2025
Indian Leader, Retailer Among 2025 DDG Honorees Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.
AuctionsMar 12, 2025
A Medieval Bishop’s Sapphire Ring Is Going Up for SaleA metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.
Events & AwardsMar 12, 2025
JA New York Announces Education, Live Demo LineupsOrganizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.
Events & AwardsMar 12, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
MajorsMar 10, 2025
Terry Chandler to Retire After 24 Years as Head of DCA Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
MajorsMar 07, 2025
Jane Fonda, Mariska Hargitay Star in Pomellato’s IWD CampaignThe annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ NecklaceThe statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.
