Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Shaftel Diamonds Opens New Showroom
The family-owned jeweler cut the ribbon on a 3,500-square-foot space in Houston, featuring a coffee lounge and outdoor seating.

The family-owned jeweler moved from the ground floor of The Jewelry Building, a communal space in Houston where jewelers set up shop, to its own space on nearby San Felipe Street.
The 3,500-square-foot space, which opened in December, features a private showing room, a cocktail and coffee lounge, and outdoor seating.
The showroom was designed to improve the overall customer experience, the company said in a press release about the opening.
“Customers can create their start-to-finish looks by conceptualizing the design with the Shaftels, from picking the stone to manufacturing the piece—every aspect is done under the same roof,” said Shaftel Diamonds.
The jeweler specializes in engagement rings, diamonds, and colored gemstones.
Founder Keith Shaftel started the business in 1978 as a wholesale supplier of loose diamonds and colored gemstones. Its first showroom opened to the public in 2001.
Over the last 42 years, Shaftel Diamonds evolved into a custom jeweler, priding itself on one-of-a-kind inventory. It also operates as a jewelry wholesaler and watch retailer.
The jeweler has styled local and national celebrities with its pieces appearing on fashion expert Melissa Rivers, actress Yara Shahidi, and model Kourtney Kellar.
The Shaftel family is involved in nearly every aspect of the business.
Danny Shaftel, Keith’s son, serves as general manager and runs the business alongside his father.
Danny’s wife, Iris Shaftel, is the fashion consultant, and his daughter Leah Shaftel is the content manager. Gaby Shaftel, Keith’s daughter, is the bookkeeper and office manager.
For more information about Shaftel Diamonds, visit the company’s website.
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