Richard Krementz, Jr., died in November 2012. The
octogenarian left Rick Krementz in charge. Ready to take over as CEO, the heir
is uncertain what will happen to the renowned jewelry house.
The Krementz name is one to be reckoned with in the jewelry
business. The original founder was George Krementz, who set up shop in Newark, New
Jersey, in the 1860s. The original product line
focused on men’s jewelry and fashion accessories. Unlike other jewelry makers,
this artisan produced costume jewelry with gold overlay. This kept the pieces
in style with current fashions but not at the highest prices in the trade.
Since at the time every man of means required collar buttons, the artisan focused on this niche market and became known as the
“giant of collar buttons.” Some were solid gold while others relied on the
overlay process to keep the price low for the buying public. By the 1920s, the
demand for men’s jewelry began to wane. By the 1930s, the detachable collar was
all but gone from men’s fashions.
To keep in step with the time, the jewelry maker began to
introduce women’s jewelry to its inventory. The pieces found favor with the
public and led to international success after a short decade.
For a while, sons Richard and Walter Krementz had competition
from close family. The uncles Tom and Frank Krementz also set up shop. Their
jewelry business became known as Frank Krementz & Co. Yet the Great
Depression caused a large number of jewelry houses to close, which made it
easier for Richard to attract more customer. What saved the Krementz jewelry
business was the use of gold overlays that kept jewelry still affordable.
Capitalizing on the fallout of the late 1930s, the company
purchased a variety of jewelry businesses that could no longer make a go of it.
Jones & Woodland, Abelson & Braun and George O. Street are just a few examples.
A foray into the creation of bridal jewelry and an inclusion of 10-karat and
14-karat gold turned into the Diana by Krementz line.
When Richard Krementz, Jr. took over in 1949, he fell in
love with colored gems. This love affair would soon dictate the styles of the
jewelry that the company produced. His travels took him all over the world,
where he continued to collect choice stones. In many ways, this artisan changed
the way modern jewelers do business. He and his son Rick would demand that the
gem industry disclosed to customers if stones were treated to hide
imperfections or to change coloration.
Somewhat surprisingly, the company sold its non-gem portions
of the business in the late 1990s. With Richard Krementz now gone, it is
uncertain if Rick’s love of gems is as strong a motivator to stay in business
as it was for his father. Since Krementz focused on the creation of durable
pieces, there are still plenty of original Art Nouveau and Art Deco pieces in
circulation. Collectors are sure to keep buying and selling these pieces for
decades to come.
Peter Suchy Jewelers is proud to carry Krementz pieces both
in our showroom and in our eBay store. We invite you to stop by our showroom
located at 1137 High Ridge Road in Stamford, Connecticut.
No comments:
Post a Comment