TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
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
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Weekly QuizFeb 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
CollectionsFeb 05, 2026
Marco Bicego’s Amethyst Collection Travels to a Purple ParadiseThe “Paradise Amethyst” collection focuses on amethyst, pink tourmaline, garnet, and 18-karat yellow gold beads.
FinancialsFeb 05, 2026
Watches of Switzerland Reports Strong Holiday Results in Q3The retailer credited its Roberto Coin campaign, in part, for boosting its North America sales.
ColumnistsFeb 04, 2026
January Jewelry Sales: More Dollars Spent, Fewer Units Sold Sherry Smith unpacks independent retailers’ January performance and gives tips for navigating the slow-growth year ahead.
MajorsFeb 04, 2026
What Designers Should Know About Saks Global’s BankruptcyFrom how to get an invoice paid to getting merchandise returned, JVC’s Sara Yood answers some complex questions.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
