IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago Jeweler
Michael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
Michael Helfer, seen here holding the scissors at a reopening ceremony, is the new owner of Lustig Jewelers. (Image courtesy of Lustig Jewelers’ Facebook page)
Vernon Hills, Ill.—Lustig Jewelers has a new owner, bringing together two historic names in the Chicago jewelry community.
Michael Helfer, the owner of Gregg Helfer Ltd., will now run the family-owned jewelry store.
Ted and Eleanor Lustig first opened a department store in 1949 on Chicago’s Clark St., adding a fine jewelry department four years later, according to its website.
By the mid-1970s, the pair was focused on selling and servicing fine jewelry.
Their son Dan Lustig joined the family business in 1981, and the retailer would later move to its current location in Vernon Hills, Illinois.
Dan retired in December 2024, passing the torch to his fellow Chicago jeweler.
“I am confident that after getting to know Michael Helfer, you will recognize his strong commitment to family, which will resonate in the quality service provided and the relationships established; thus, Michael is a perfect fit to carry on the culture my family created so many years ago,” said Dan in a letter shared to the jeweler’s Facebook page.
“The Lustig Jewelers name will remain, a testament to the trust and tradition we have established with you, our friends.”
Related stories will be right here …
Michael Helfer, the owner of Gregg Helfer Ltd., will now run the family-owned jewelry store.
Ted and Eleanor Lustig first opened a department store in 1949 on Chicago’s Clark St., adding a fine jewelry department four years later, according to its website.
By the mid-1970s, the pair was focused on selling and servicing fine jewelry.
Their son Dan Lustig joined the family business in 1981, and the retailer would later move to its current location in Vernon Hills, Illinois.
Dan retired in December 2024, passing the torch to his fellow Chicago jeweler.
“I am confident that after getting to know Michael Helfer, you will recognize his strong commitment to family, which will resonate in the quality service provided and the relationships established; thus, Michael is a perfect fit to carry on the culture my family created so many years ago,” said Dan in a letter shared to the jeweler’s Facebook page.
“The Lustig Jewelers name will remain, a testament to the trust and tradition we have established with you, our friends.”
The Helfer family has a long history in the jewelry industry.
Michael’s grandfather, David Helfer, opened his first wholesale diamond office in Chicago in 1933.
David would later expand into retail, opening his first store in Kankakee, Illinois, and go on to establish more than 15 locations across the Midwest, according to its website.
The stores operated under the names Erwin's and Edwards Jewelers, closing in the early 1990s.
David’s oldest son and Michael’s brother, Gregg, opened a private office on Chicago’s Jewelers Row in 1999.
Michael, who has a background in sales and marketing, joined the family business in 2003, becoming the owner of Gregg Helfer Ltd. in 2016, following Gregg’s passing.
Michael Helfer is the new owner of Chicago area retailer Lustig Jewelers.
“Our family has long been part of Chicago’s jewelry history,” said Michael.
“As a third-generation jeweler, I’m excited to bring our family legacy to Lustig’s. We will continue serving our customers with the same trusted staff and skilled jewelers you know, while offering an expanded inventory and a renewed commitment to our community.”
In honor of its new ownership, the retailer kicked off with a celebration on Nov. 19, and the festivities will run through Dec. 24.
It began with a Sophia By Design trunk show, followed by a ribbon-cutting ceremony on Nov. 20. where VIP guests were invited in for a first look.
The celebration will continue with special showcases and promotions throughout the holiday season.
Editors' Picks
Sponsored by
More on Independents
The Latest
MajorsApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
