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.
More on Independents
The Latest
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
