IndependentsOct 19, 2021
Jewelers Riding Out the StormsIndependentsNov 12, 2021
This Jewelry Store Chain Is Now Employee-Owned
The move, effective Nov. 1, has been in development for years, Day’s Jewelers said.
On Nov. 1, Jeff and Kathy Corey transferred ownership of Day’s Jewelers to the store’s employees, including their son Joseph Corey (center), who is president of the company.
Waterville, Maine—The employees of New England retailer Day’s Jewelers are now its owners.
On Nov. 1, the company transferred ownership from Jeff and Kathy Corey, who purchased the jeweler more than three decades ago, to its employees.
The Employee Stock Ownership Plan (ESOP) will benefit all 125 employees, the company confirmed, making it the only employee-owned and -operated jewelry company in Maine and New Hampshire.
Shares are distributed based on both tenure and pay, according to Jeff Corey, vice president of marketing and former co-owner of Day’s Jewelers.
“Since my wife Kathy and I purchased Day’s in 1988, we have always set out to build a company that stands the test of time,” Corey said. “Becoming an ESOP and placing our future in the hands of our tremendous employees will ensure the continued success of the company and culture we’ve built over the past several decades.”
Their son, Joseph Corey, was named president of the company in April, and he will stay in that position.
Jeff will stay in his position as vice president of marketing, as will Kathy in her role as vice president of merchandising, at least until the end of this year, the team confirmed.
With the sale of the store to the employee-owned trust, the two will receive some money up front. The rest will be paid over time.
The Davidson brothers founded Day’s Jewelers in Portland, Maine in 1914. Jeff and Kathy Corey purchased the store from the Davidsons.
Day’s now has eight brick-and-mortar locations across New Hampshire and Maine as well as an e-commerce site.
It received the “Retailer of the Year” award from the Retail Association of Maine in 2016 and the “Corporate Award” from the Women’s Jewelry Association in 2017.
It was also Maine’s Family Business of the Year in 2019 and has been chosen as one of the “Best Places to Work in Maine” for seven years.
Related stories will be right here …
On Nov. 1, the company transferred ownership from Jeff and Kathy Corey, who purchased the jeweler more than three decades ago, to its employees.
The Employee Stock Ownership Plan (ESOP) will benefit all 125 employees, the company confirmed, making it the only employee-owned and -operated jewelry company in Maine and New Hampshire.
Shares are distributed based on both tenure and pay, according to Jeff Corey, vice president of marketing and former co-owner of Day’s Jewelers.
“Since my wife Kathy and I purchased Day’s in 1988, we have always set out to build a company that stands the test of time,” Corey said. “Becoming an ESOP and placing our future in the hands of our tremendous employees will ensure the continued success of the company and culture we’ve built over the past several decades.”
Their son, Joseph Corey, was named president of the company in April, and he will stay in that position.
Jeff will stay in his position as vice president of marketing, as will Kathy in her role as vice president of merchandising, at least until the end of this year, the team confirmed.
With the sale of the store to the employee-owned trust, the two will receive some money up front. The rest will be paid over time.
The Davidson brothers founded Day’s Jewelers in Portland, Maine in 1914. Jeff and Kathy Corey purchased the store from the Davidsons.
Day’s now has eight brick-and-mortar locations across New Hampshire and Maine as well as an e-commerce site.
It received the “Retailer of the Year” award from the Retail Association of Maine in 2016 and the “Corporate Award” from the Women’s Jewelry Association in 2017.
It was also Maine’s Family Business of the Year in 2019 and has been chosen as one of the “Best Places to Work in Maine” for seven years.
More on Independents
The Latest
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-GiftingIn his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
Weekly QuizAug 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
