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
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
