PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsDec 18, 2018
Longtime Austin Retailer to Change Ownership
In January, jewelers Larry and Kat Stokes will take over Russell Korman Fine Jewelry.
Kat (left) and Larry Stokes (center) are the new owners of Korman, formerly Russell Korman Fine Jewelry in Austin, Texas. They’re pictured with founder Russell “Rusty” Korman (right).
Austin, Texas—Austin, Texas jewelry store Russell Korman Fine Jewelry is about to embark on a new chapter.
After 45 years in business, founder Russell “Rusty” Korman and his brother and sister-in-law, Hank and Monica Korman, will retire from the family business in January.
And though the business won’t remain in the family, it will continue to serve the Austin community under the ownership of Larry and Kat Stokes, who are renaming the business “Korman.”
“Most independent jewelers have gone by the wayside unless a family member will take it over,” Rusty Korman said. “Korman will be here for the next 30 years. I’m leaving my customers in good hands.”
Introduced to the Kormans by mutual friends, the Stokeses have a solid foundation in the jewelry industry.
Larry Stokes was born into it; his mother is the eponymous founder of Susan Robinson Fine Jewelry, located in Tyler, Texas.
Larry and Kat worked for the family business, deciding to steer what was once a gift and jewelry store exclusively into fine jewelry and Swiss timepieces. Larry has extensive Swiss timepiece training and regularly buys timepieces and jewelry on trips to Switzerland, Israel and Hong Kong.
At Korman, the Stokeses hope to expand the Rolex boutique’s selection of Swiss timepieces and broaden its stock of international fine jewelry designers.
“We love Austin and are excited to be a part of this amazing community,” Kat Stokes said. “We strive to offer classic jewelry pieces but with a bit of Austin flare. Our customers are well traveled, and they want to see and experience something different. The most rewarding part of what we do is getting to help celebrate life milestones with our clients. We hope to cater to all ages and offer the perfect token to commemorate any occasion.”
After deciding to sell the store, the Kormans and Stokeses spent two years getting to know each other and negotiating terms. The former owners are confident the Stokes family is the right fit to continue their legacy.
“As I got to know Larry and Kat, I just felt instinctively that they would continue to operate with the transparency and integrity that are so important to me and our customers,” Korman said.
He began his jewelry career selling beads near the University of Texas at Austin, eventually opening a bead store called Russell’s, which he sold to a friend in 1979. In 1983, he opened Russell Korman Fine Jewelry.
Austin-based
Editors' Picks
Sponsored by
investor G.H. “Kam” Kronenberg III, a mutual friend of the Kormans and Stokeses, is also an owner of the new Korman store.
“We will honor the Korman legacy by continuing to give back to the community,” Larry Stokes said. “We will also bring fresh energy and offer customers a new experience when they walk in the door.”
Korman will retain most of its long-time employees, the company said, and continue to be located at 5011 Burnet Road.
“We will honor the Korman legacy by continuing to give back to the community,” Larry Stokes said. “We will also bring fresh energy and offer customers a new experience when they walk in the door.”
Korman will retain most of its long-time employees, the company said, and continue to be located at 5011 Burnet Road.
More on Independents
The Latest
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
