Articles and News

Bernie Robbins Jewelers Entrusts Legacy to Dedicated Employees After Six Decades November 23, 2023 (0 comments)

New York, NY--In a remarkable gesture of trust and appreciation, Harvey and Maddy Rovinsky, the owners of Bernie Robbins Jewelers, have decided to forgo selling their esteemed jewelry store chain and instead are transferring ownership to their dedicated employees at no cost. 

[Screenshot image via Bernie Robbins Jewelers/Facebook]

As per a report published in Fox Business, The Rovinskys, who have been at the helm for over six decades, have decided to step down, acknowledging the need for a succession plan.

"My wife and I are not kids anymore," Harvey told Fox News Digital. "We don't have any family in the business, and we kind of need a path for succession. … You know, our runway is getting shorter and if we have a problem with one of us or both of us, then the business goes away."

The couple, who sold one of their prominent stores last year, had initially sought buyers but couldn't find anyone they believed capable of upholding Bernie Robbins' legacy. Bernie Robbins, the founder, and Harvey's father-in-law, left a legacy that the Rovinskys have endeavored to honor. Eventually, they realized the solution was right in front of them – their loyal employees, some of whom have been with the company for up to 30 years.

"We said, ‘You know, this has been right in front of our faces all this time. Instead of trying to find a qualified buyer, why not give it to people that are successfully running it now,’" Rovinsky added in the report. "They understand our culture, they understand what we want. They've been doing it, they've been running it and we've been fortunate that money aspect was not a motivation. So we're going to continue the business with the people that know how to run it."

The Rovinskys' journey with Bernie Robbins Jewelers has been filled with learning experiences, especially during economic downturns. Harvey Rovinsky likened his experience to earning a "recession MBA," having navigated multiple financial crises, including the severe 2008-2010 period, which nearly resulted in the business's downfall.

Looking ahead, the new owners, who have a deep love for the business, are expected to continue its successful legacy. Harvey Rovinsky, who has dedicated 57 years to the company, will remain CEO after the transition, which is set to become official in the first quarter of 2024.

As they prepare for the transition, Bernie Robbins Jewelers is holding a retirement sale at their Somers Point and Villanova locations, offering their exclusive collection at significantly reduced prices.

Learn more in the entire report on Fox Business.