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Greensboro, NC--Schiffman's Jewelers, founded in 1893 in Greensboro, has reached 132 years in business and is now under fifth-generation leadership, according to the Triad Business Journal. The company was honored on August 21 with the publication's Family Business Awards Heritage Award.

[Image via Schiffman's Jewelers/Facebook]

The store began when Simon Schiffman bought a failing downtown jewelry shop. His son Arnold, known as “Mr. A,” took over during the Spanish Flu and led for 46 years, later advising the family for decades. Leadership passed to his son Tony, and then to Tony's sons Arnold III, Vance, and Lane. CEO Lane Schiffman recalled growing up in the store and helping with small tasks, saying he started “when I was old enough to see over the counter.”

The latest generation includes Lane's children Kiley, Layton, and Ren, and cousin Anthony. They were expected to gain outside experience before joining.

"The idea of entitlement is something that we don't really like … they need to achieve results outside the company," Lane said. COO Kiley Schiffman Storrs worked in Boston and later for Wrangler before returning, eventually winning her role through an application process against 40 candidates.

The business now operates with shared leadership between Lane and Kiley, a contrast to earlier generations that favored sole control, per the report.

Learn more in this report by Triad Business Journal.