MajorsOct 04, 2024
Hearts On Fire Names Gabrielle Grazi VP of Sales, North AmericaMajorsOct 30, 2024
Peggy Grosz Leaves Assael After Company Is Sold
Grosz had served as Assael’s senior vice president and creative director since 2017.
Peggy Grosz joined Assael as senior vice president and creative director in 2017. This week, she announced she has left the company and will be taking some time off before pursuing “new design challenges.”
New York—Peggy Grosz, senior vice president and creative director at Assael, announced that she has left the company following its recent sale.
Grosz, who spent seven years with Assael, said she will take a short hiatus but looks forward to new design and product development challenges.
The 78-year-old company, which sources fine pearls and coral for its high-end designs, was started by Salvador Assael, who became known as the “pearl king” after selling the first strand of fine natural color black Tahitian pearls at Harry Winston in 1978.
In 2011, when Salvador died, his wife, Christina Lang Assael, took over the company.
She brought on Grosz in 2017, who helped revive the legacy brand through innovative design, product development, and leadership, the company said.
Christina died in 2022.
No further details about Assael’s sale or its new ownership were available as of press time.
One of the new owners told National Jeweler via WhatsApp that he cannot provide information on the sale until, “all the partners meet and agree on everything internally.”
“It was an honor to modernize such an historic company and work with an unprecedented inventory of ultra-fine pearls and coral,” said Grosz.
“I was privileged to work alongside the late Christina Lang Assael with a wonderful staff and an incredible marketing team to build a brand that founder Salvador Assael would be very proud of. I am also grateful for the support of the finest retailers in the United States and the partnerships that we built together.”
Related stories will be right here …
Grosz, who spent seven years with Assael, said she will take a short hiatus but looks forward to new design and product development challenges.
The 78-year-old company, which sources fine pearls and coral for its high-end designs, was started by Salvador Assael, who became known as the “pearl king” after selling the first strand of fine natural color black Tahitian pearls at Harry Winston in 1978.
In 2011, when Salvador died, his wife, Christina Lang Assael, took over the company.
She brought on Grosz in 2017, who helped revive the legacy brand through innovative design, product development, and leadership, the company said.
Christina died in 2022.
No further details about Assael’s sale or its new ownership were available as of press time.
One of the new owners told National Jeweler via WhatsApp that he cannot provide information on the sale until, “all the partners meet and agree on everything internally.”
“It was an honor to modernize such an historic company and work with an unprecedented inventory of ultra-fine pearls and coral,” said Grosz.
“I was privileged to work alongside the late Christina Lang Assael with a wonderful staff and an incredible marketing team to build a brand that founder Salvador Assael would be very proud of. I am also grateful for the support of the finest retailers in the United States and the partnerships that we built together.”
MajorsOct 03, 2024
JA Appoints New Board Director
MajorsOct 01, 2024
Signet Jewelers CEO Gina Drosos to RetireMore on Majors
The Latest
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyApr 17, 2025
Technology Therapy Group Expands AI Training for Jewelry RetailersThe online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
SourcingApr 15, 2025
Diamond Club West Coast Names 2025 BoardThe organization has reelected Kalpesh Jhaveri as president.
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
WatchesApr 11, 2025
Bulova Documentary Now on Amazon Prime“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.
Policies & IssuesApr 10, 2025
Trump Presses Pause on Higher Tariffs for 90 DaysAn across-the-board tariff of 10 percent remains in place for all U.S. trading partners, except China.
MajorsApr 10, 2025
Pary LeVian, Matriarch of the LeVian Family, Dies at 96LeVian is remembered for her unwavering commitment to her family, community, and helping others.
Events & AwardsApr 10, 2025
Hamptons Jewelry Show to Debut This SummerThe retail show is open to the public and will run July 24-27.
