SourcingNov 27, 2024
Gemfields Reports 'Disappointing' High-Quality Emerald Auction ResultsThe miner said its November sale, which earned $16.1 million, felt the effect of competitive pricing by a rival Zambian producer.
IndependentsApr 10, 2019
San Antonio’s Penaloza and Sons to Close After 61 Years
Paul, Alice and Phillip Penaloza plan to retire this year.
From left to right, Paul, Alice, Phillip and Charles Michael Penaloza outside Penaloza and Sons Inc. in Castle Hills, Texas, an enclave of San Antonio. Charles Penaloza opened the business in 1958 as a trade shop.
San Antonio—Penaloza and Sons Inc., a jewelry store that has been open for six decades, is in the process of shutting down so its owners can move on to the next stage of their lives—retirement.
Charles Penaloza, the son of a Mexican immigrant from Yucatan, opened Penaloza and Sons as a trade shop in 1958, fixing and making jewelry for other jewelers.
His son Phillip Penaloza joined the business in the 1970s, followed by Paul Penaloza in 1981.
Over the years, the store has served generations of local families as well as a few high-profile clients.
Penaloza and Sons Inc. made pieces for San Antonio native Carol Burnett, as well as the late Bob Hope and Debbie Reynolds, who bought a diamond bracelet for daughter Carrie Fisher while in town to perform at the Majestic Theatre, Phillip recalls.
When Charles died in 2002, Phillip and Paul, a certified gemologist, took over.
Phillip became the company’s chief designer, and other family members came on board as well. Paul’s wife, Alice Penaloza, a graduate gemologist, sells and appraises jewelry, while Phillip’s son Charles Michael Penaloza works as a bench jeweler.
(Penaloza and Sons is not to be confused with C. Aaron Penaloza Jewelers, another San Antonio jewelry store. Owner Charles Aaron Penaloza is Paul and Phillip’s brother. He opened his own store in 1990 after working at Penaloza and Sons.)
Now the time for Paul, Alice and Phillip to retire has come, and their to-do list mirrors that of many who are approaching retirement age: travel, spend more time with family and have more time to themselves.
RELATED CONTENT: There Is a Story Behind Every Store Closing“Paul and I have worked together and built a very strong business, and it’s been a pleasure making that happen,” Alice said in a news release about the store’s closing. “It’s just felt like this was the right time to close this chapter in our lives.”
Paul told National Jeweler Tuesday that when they knew it was time to step back, they initially tried to find a buyer for the business but couldn’t, and Charles Michael was not in a position
to acquire it on his own.
So they opted to close the store and sell everything—the jewelry as well as the building, furniture and fixtures.
But this might not be the end of their involvement in the jewelry business. Paul said they could continue as a smaller business, making one-off pieces for clients or creating and fixing jewelry for other jewelers, as the shop originally did when his father opened it in the late 1950s.
“It might evolve back to that,” he said. “We have no definite plans right now.”
The going-out-of-business sale at Penaloza and Sons started Friday, and items are marked down as much as 70 percent.
The store’s inventory consists mainly of 18-karat gold and platinum pieces as well as a selection of “rare and valuable” gemstones including unheated pink sapphire, alexandrite and garnet.
So they opted to close the store and sell everything—the jewelry as well as the building, furniture and fixtures.
But this might not be the end of their involvement in the jewelry business. Paul said they could continue as a smaller business, making one-off pieces for clients or creating and fixing jewelry for other jewelers, as the shop originally did when his father opened it in the late 1950s.
“It might evolve back to that,” he said. “We have no definite plans right now.”
The going-out-of-business sale at Penaloza and Sons started Friday, and items are marked down as much as 70 percent.
The store’s inventory consists mainly of 18-karat gold and platinum pieces as well as a selection of “rare and valuable” gemstones including unheated pink sapphire, alexandrite and garnet.
More on Independents
The Latest
CollectionsNov 27, 2024
Piece of the Week: Mignon Faget’s ‘Crescent Starry Night’ Tassel EarringsMignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
TechnologyNov 27, 2024
Nivoda Secures Additional Funding The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
SourcingNov 26, 2024
De Beers Stays With ‘A Diamond Is Forever’ for 2024 Holiday Campaign“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
Weekly QuizNov 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsNov 26, 2024
Christie’s To Auction Collection of Suzanne Belperron JewelsIt’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
ColumnistsNov 26, 2024
The Smart Lab: 7 Strategies for Refining Your Holiday Email Marketing CampaignsSuccessful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 26, 2024
GIA’s Board of Governors Adds 2 New MembersRetail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
MajorsNov 26, 2024
Ben Bridge Jeweler Unveils This Year’s ‘Benny Bear’ Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
SourcingNov 25, 2024
William Goldberg Celebrates 2 Major Milestones With New Book“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Lab-GrownNov 25, 2024
Lab-Grown Co. Lusix Sold to 2 Companies for $4M Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
Events & AwardsNov 25, 2024
The Original Miami Beach Antique Show Panel to Feature Fred SavageThe actor and watch enthusiast will be part of the show’s education lineup.
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
