Nathan “Nate” Light (pictured), the affable yet driven executive who helped turn Sterling Jewelers into a retail powerhouse, died on March 12 in Palm Beach, Fla. He was 86.
After serving in the U.S. Navy, Light started his industry career as a salesman at Rose Jewelers in Detroit, working for 65 cents an hour. He later became the company’s vice president of merchandising. After that, he worked as a buyer, general manager, and executive vice president at another Detroit jeweler, Shifrin-Willens.
In 1977, Light became chairman and CEO of Sterling Jewelers, in a move that proved fateful not only for his career but for the entire U.S. jewelry industry. When Light first joined the Akron, Ohio–based company, it was still a small, family-owned, 32-store chain. Under his leadership, Sterling grew to encompass 117 stores. In 1987, it was acquired by Ratners Group (now Signet), a British jeweler seeking a U.S. presence.
Backed by his new owner, Light significantly expanded Sterling’s footprint. In 1987, it snapped up 82-store Westhall Co.; in 1988, it bought 56-store Osterman Jewelers; and in 1989, it purchased 90-store Weisfield Jewelers.
“Whenever I met other owners of jewelry companies,” Light recalled in a Diamond Empowerment Fund tribute video from 2016, “I would talk to them for a while, make friends with them, and then drop in, ‘Well, if you ever want to sell out, give me a call.’ I got more calls than I thought I would ever get.”
In 1990, Sterling made its most auspicious purchase when it bought 494-store Kay Jewelers, turning Signet’s U.S. division into America’s second largest jeweler. (It’s now the first.)
In 1993, the company debuted its “superstore” format, Jared—named after one of Light’s sons. By the time Light left Sterling in 1995, it comprised nearly 1,000 stores and generated $1 billion in annual revenue.
Following his time at Sterling, Light formed the LDC Group, which operated the Only Diamonds retail chain, and became president of N.E.W. Customer Service Companies’ jewelry protection division.
Light struggled with issues with his eyesight later in life, but he remained active. In 2010, he launched a consulting company, Legends Consulting Group, and in 2011, he opened a Pandora concept store in Florida.
Light was known for his generosity. In the early 1990s, he and Clyde Duneier decided to pool industry charity efforts, eventually hosting the Party With a Purpose at the 1994 JCK Show. That event led to the founding of Jewelers for Children.
“Nate’s greatest achievement was being a leader in the industry, and getting the whole industry together to do good,” said Duneier’s son Marc in the tribute video.
In 2007, Light received the American Gem Society’s Lifetime Achievement Award. In 2016, the Diamond Empowerment Fund honored him with its first-ever Lifetime Achievement Award, following a tribute by his son Mark, Signet’s then-CEO.
“He was a visionary when it came to people,” said Tryna Kochanek, Sterling’s former executive vice president of field operations, in the tribute video. “He saw something in individuals, in companies, in giving back, before anybody else saw it.”
Light is survived by his wife, Candace; three daughters, Shelly, Cheryl, and Alyse; two sons, Mark and Jared; fourteen grandchildren; and six great-grandchildren.
In lieu of flowers, the family asks that donations be made to Chabad of Palm Beach Gardens and the Foundation Fighting Blindness.
(Photo courtesy of Legends Consulting Group)
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