Jewelry legend Robert Lee Morris posted an image of a handwritten poster on his Facebook wall earlier this week, revealing some shocking news: His store at 400 W. Broadway in New York City is closing.

Miriam Haskell has owned the Robert Lee Morris company and store since July 2011, offering iconic RLM designs in plated brass, but is shuttering the boutique, according to Morris.

“We now are rethinking the brand again while maintaining the iconic culture of the Robert Lee Morris ‘look,’ and will be searching for a smaller and more unique venue from which to sell a higher-value product and more one-of-a-kind prototypes,” Morris tells JCK. “It’s all part of the great cycles of our industry, coping with the market changes and drastic swings, while maintaining a distinct and visionary brand.”

The move will not directly affect the artist, as his job these days is strictly design. Melancholy, however, is unavoidable considering the shop that bore the Morris name stood in the city for 37 years. “My store was such a fixture in SoHo—the first real designer name in the neighborhood,” he recollects. He also operated his own gallery called Artwear from 1985 to 1994, which featured the works of other artists.

“It is sad that this had to happen at all, but I feel it is a cosmic bit of timing and time for me to make a real change, yet once again!” he says.

JCK