Bernie Robbins Jewelers Owners Retire, Give Loyal Employees Control of 60-Year-Old Business

The owners of an East Coast luxury jewelry chain are passing up the opportunity to sell their family business and instead give it to their longtime employees for free.

After more than six decades, Harvey and Maddy Rovinsky, the owners of Bernie Robbins Jewelers, are leaving the business, which at one time focused on selling home appliances before transitioning into jewelry.

With stores located in Philadelphia and New Jersey, the company, which first opened its doors in 1962, has been “selling the world’s most prestigious watches, an unparalleled selection of diamonds and universally famous designers” for the past few decades.

“My wife and I are not kids anymore,” Harvey told Fox News Digital about the transition. “We don’t have any family in the business and we 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 is gone.”

“We’ve been looking for a way to continue, to continually keep really great people employed. Many of them have been with us for 30 years, 25, 20 years. So they are long-term people, they are like a family,” he added of those who will take over the business next year.

Rovinsky said he and his wife, who sold one of his signature stores last year, had previously sought buyers for the business.

However, after looking, the couple felt that neither was “qualified to continue the legacy” of original founder Bernie Robbins.

The legacy of Robbins, Rovinsky’s father-in-law, is something the couple has worked to continue over the years and ultimately came to the conclusion that turning the business over to current employees would be best to continue that legacy.

“We said, ‘You know, this has been in front of our faces this whole time.’ Instead of trying to find a qualified buyer, why not give it to people who are now running it successfully?’” Rovinsky recalled of the solution to handing over the family business.

“They understand our culture, they understand what we want. They’ve been doing it, they’ve been executing it, and we’ve been lucky that the financial aspect wasn’t a motivation. So we are going to continue the business with the people who know how to run it.”

Rovinsky said that the future owners of the jewelry chain “love the business” and that “there is no doubt that they will continue with this and do it successfully.”

Rovinsky, 76, has worked at Bernie Robbins for 57 years and said he learned a lot during his management of the business that has made the family business a success, primarily through the financial struggles that arose due to the economy.

“You know, people go to college to get an MBA… I have an MBA in a recession,” Rovinsky said, describing some of the company’s past struggles.

“We have successfully gone through many recessions, without problems, [but] 2008 to 2010 almost left us out of business. It was really close for a while, but we managed to survive it, barely, at that time. Since then, we have prospered and I have a huge amount of lessons from that period.”

“When things are easy, you think you’re the smartest guy in the room. Then all of a sudden a two-by-four hits you and you’re like, ‘Wow, what’s going on?’” she added.

“Fortunately, I think Madalyn, my wife and I have learned from our mistakes. We’ve learned how to budget, you know? I tell my people, ‘Budget is not a car rental company.’”

Rovinsky, who was asked by the future owners to continue working with the company, will serve as CEO once the transition is made official.

“I’m flattered and honored that they asked me to stay, which I’ll be happy to do until I annoy them enough and they fire me,” he joked.

As for what she will do after the new owners take over, Rovinsky noted that she will spend time with family, saying, “I really wanted to be my grandchildren’s nanny, but I applied for that job. [and] “I came in second place, so that’s not going to happen.”

“Making memories is what this experience has been for us. We have been a part of thousands of engagements, weddings, and countless momentous family occasions. It truly has been an honor and joy for us to share the happiness of so many special people,” Maddy said in a statement about the ownership transition.

“We are indebted to our loyal customers for trusting us for so long.”

Harvey did not detail how many employees will receive ownership of the company, but the transition is expected to become official during the first quarter of 2024.