Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
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
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
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.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
