One fascinating aspect of multigenerational jewelry businesses is that the family store’s foundational characteristics and qualities stay intact. The physical store itself, as well as the day-to-day operational practices for sales and market growth, can change dramatically over time.
Malcolm Jewelers opened in the early 1940s as a small jewelry store. In the mid-1970s it transformed into a large, state-of-the-art jewelry store – decades ahead of its time in terms of departments, sales, and services. And, as the new millennium turned, Malcolm’s became a by-appointment jeweler and maker of jewelry.
“The shift to being a by-appointment model allowed for more personalized service and a private jewelry buying experience,” says third-generation jeweler Todd Malcolm, owner of Moline, Illinois-based Malcolm Jewelers. “This shift enabled the business to focus exclusively on fine jewelry and repair services, ensuring that each client receives dedicated time and attention to create pieces that hold emotional significance.”
Change is never easy and comes with a host of challenges. But so does starting a business. George D. Malcolm was serving in the US Navy during World War I when notice of his father’s death reached him in active duty. The eldest and only son of the family, the Navy gave him an honorable discharge so he could take care of his family. Based in Philadelphia, George D. saw career opportunities in the city’s jewelry district and did a deep dive in retail jewelry.
“George D. learned everything from the ground up,” says Todd. “He was fortunate to have an innate, keen eye for beauty and craftsmanship.”
When it was time to open his jewelry store, George D. had mastered all facets of retail jewelry – buying and sales, appraisals, visual merchandising and display designs, along with a solid grasp of marketing. But his greatest joy was mentoring his staff, says Todd.
In the early 1940s a trusted colleague who moved to the Midwest encouraged George D. to do the same. Accompanied by his wife Madeline, the adventurous couple followed the friend’s advice and visited Moline, Illinois.
“They were captivated by the small-town charm and promise of growth,” says Todd. “Moline was the perfect place to raise their family while building a legacy in a close-knit community.”
The first store opened its doors in 1941 at 1526 5th Avenue – the heart of the downtown business district. The modest store specialized in fine jewelry and repair services. Over time, as the community grew and the local economy expanded, Malcolm’s offered fine gifts, china and silverware.
While George D. was building and transforming Malcolm’s, his wife Madeline became the “foundation of both the family and the family business,” says Todd. Early on small tasks around the store helped to instill a strong work ethic in her boys Richard and George C. She was also very active in civic functions and fundraisers which cemented Malcolm’s presence in their community.
For more than three decades George D. expanded the family store four times. Each transformation elevated the customer experience and established a higher standard of craftsmanship, according to Todd. In the early 1970s, George D. was looking at retiring. His son George C. entered the family business after college and would soon make his generational imprint.
Another graduate of on-the-job training, George C. worked tirelessly over summers and took full advantage of his father’s mentoring skills. His chief strength was sales. George C. also continued his mother’s role of being civic minded as vice president of the Moline Jaycees and a member of the Downtown Retail Association.
In 1975, George C. moved the family store across the street to a larger retail space. “The move transformed the store from a modest 1,200-square-foot shop into a state-of-the-art 3,300-square-foot jewelry destination,” says Todd. “His design innovations, including an open showroom, a 12-foot walk-in vault, and a private diamond consultation room, set new standards in the industry. His work earned architectural awards and played a key role in revitalizing downtown Moline.”
Innovation and tracking, not only jewelry fashions but business trends, defined Gen 2.0 for Malcolm’s. When his son Todd took over the family business in 2003, he continued those leading qualities. Todd also thought it was time for a Malcolm to earn some industry credentials.
Early on Todd became a Graduate Gemologist through the GIA (Gemological Institute of America), earned certifications in pearl grading, and became a Registered Jeweler. Another big difference from the current generation to the previous two generations was the need for a retail store font. Todd recognized the shifting business landscape and down scaled to a by-appointment retail sales model.
The move not only enhanced the jewelry buying experience for customers, it loosened up space, time and resources to pursue his jewelry making ambitions with curated collections of jewelry based on themes of family, faith and love.
“I’ve always wanted to design my own line of jewelry to separate myself from the traditional jeweler,” says Todd. “By emphasizing the uniqueness, craftsmanship, and personal stories behind each piece, I’m seeking to establish meaningful partnerships with jewelers, boutiques, and specialty stores that align with the collection’s vision.”
Each piece is carefully curated to create a memorable experience. More than an accessory, every item in the collection serves as a personal keepsake, symbolizing cherished memories and heartfelt connections. And, every purchase includes a pendant, chain, elegant packaging, a polishing cloth, and a personalized story card – fostering a deeply emotional bond between the giver and the recipient, according to Todd.
The “Stories” Collection has 23 pieces. At press time, new designs are in the works and will be available this summer. From Todd’s observation of America’s cultural landscape he firmly believes there’s a shift toward personal expression, love, family and faith that is rooted in every piece of the “Stories” Collection.
“In recent years, I’ve observed a shift in the way my clientele connect with their faith, their families, and the values that ground them,” says Todd. “More than ever, my clientele are seeking deeper meaning in their lives, turning back to traditions that celebrate love, commitment, and the enduring strength of faith. This return to foundational values is not just a trend. It is a heartfelt movement toward creating lasting legacies. The launch of the ‘Stories’ Collection is a reflection of this renewed spirit.”
