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.”
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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.
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