U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
Penny Ruston Dies at 80
The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

She was 80.
Ruston died peacefully at her home in Pensacola, Florida, surrounded by friends and family, according to an online obituary.
She was born Sept. 15, 1944, in Chicago.
Her decades-long career in the jewelry industry began immediately after she graduated from Austin High School in 1962, when she took a retail position with local store Trabert & Hoeffer.
Later, she went on to work for Lagos, Ebel, and Roberto Coin, where she became one the first female outside sales reps in the industry, according to her obituary.
A “true pioneer in her profession,” she also mentored other women in the industry, forming the WJA Chicago chapter.
Her support of WJA was there from the very start, said WJA co-founder Linda Orlick in a LinkedIn post.
Orlick wrote that she met Ruston, “one of the ultimate professionals,” in the late ‘70s, when she was the jewelry buyer for Lebolt & Co. in Chicago.
“Penny taught me so much about the industry, but most especially when we traveled to trade shows, especially the Dallas or LA jewelry shows, how to get into good trouble,” she wrote.
“Penny's laugh was infectious, she lit up every room she walked into. When she traveled to [New York], she would stay with me and my children, it was non-stop laughing.”
In 1970, Penny married her husband Jim Ruston, and they had a son, Michael, whom they raised in nearby Elmhurst, Illinois.
Their home was filled with laughter, warmth, and unconditional love, her obituary said.
Ruston also loved to entertain, and she hosted an annual celebration for Greek Orthodox Easter, which the obituary described as “the most anticipated party of the year,” filled with Greek dishes including lamb, Jim’s pastitsio, and the always-anticipated red Easter eggs.
However, her greatest joy was becoming a “Yiayia,” or grandmother, when her twin grandchildren were born.
Jimmy and Ella were the light of her life, and she had a special bond with each of them.
They were very close and spent a lot of time together on vacations, at lunches, or sleepovers at hers and Jim’s “Papou” house.
Ruston is survived by her husband of 55 years, Jim; her son Michael; her grandchildren Jimmy and Ella; her brother Peter (Chandra) Kaskas; her sister Sandra (John) Muscolino; her brother Dean (Simi) Grevan; and an abundance of cousins, nieces, and nephews.
She was preceded in death by her parents Helen (Siavelis) Grevan, her father Thomas Kaskas, and her sister Tia Coleman.
Visitation will be held June 29 from 1:30 to 7 p.m. at Conboy-Westchester Funeral Home, located at 10501 W. Cermak Rd. in Westchester, Illinois.
A funeral service will take place at Assumption Greek Orthodox Church, located at 601 S. Central in Chicago on June 30 at 12:30 p.m. Burial will follow at Chapel Hill Gardens West Cemetery.
The family will also hold a celebration of life in Pensacola, Florida, in the weeks to come.
In lieu of flowers, the family requests donations to Gulf Coast Kids House, a children’s advocacy center in Pensacola. Ruston was an avid supporter of the center and was set to be the honorary chair this year for its annual “Bubbles and Brunch” fundraiser.
“We were all blessed to have had Penny in our lives,” the obituary reads.
“She was one of a kind and a true treasure who was loved beyond words and missed beyond measure.”
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