Bernie Robbins Jewelers owners to retire and pass on business ownership to employees

The jewellery brand owners commented that most of their employees had been with them for about 20 years or more, which meant they could be trusted to keep the brand going and thus, create more employment opportunities

USA: The owners of the jewellery store chain Bernie Robbins Jewelers are retiring and transferring ownership of the business to their employees for free. Harvey and Maddy Rovinsky are passing on the baton, having dedicated more than 60 years to the business. The stores of the business are located in Philadelphia and New Jersey in the United States, where they deal in diamond jewellery and products from celebrated designers.

“My wife and I are not kids anymore. 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,” said Harvey.

“We’ve been looking for a way to keep it going, to keep really great people continually employed. Many of them have been with us for 30 years, 25, 20 years. So these are long-term people, they’re like family,” he added.

Harvey highlighted that they tried to sell the business but couldn’t find any suitable buyer who they could believe about continuing their legacy.

“We thought this had 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? 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 the money aspect was not a motivation. So we’re going to continue the business with the people that know how to run it,” explained Harvey.

After the transition becomes official, Harvey would continue serving as the CEO of the business.

Courtesy: hindustantimes.com