Karen Taub considers her daughter, Lexi, her “first” Mother’s Day gift—but she calls Lexi’s decision to join her at the helm of their family’s jewelry business one of the best presents her child could ever give her.
As this mother-daughter duo look to celebrate Mother’s Day, they recall how their bond grew during the pandemic, resulting not only in their business partnership but also in a greater appreciation of each other’s strengths.
Karen and Alexis “Lexi” Taub run Madison 501, a New York-based private-label jewelry manufacturer that works with new and established independent jewelry designers. They say one of the best things about working together is how it’s deepened their understanding of each other.
“As a parent, you hope your children will have something in common with you. To be able to share our interests and our business has been amazing. I’m so appreciative,” Karen says.
When the pandemic hit, Lexi moved home, giving her and her mother more time together. Karen came to realize that she needed someone to help share the responsibilities of running Madison 501 in a specific way—and that Lexi had all of the talent and skills for it.
“Lexi does all of our systems and operations. We’re lucky we can divide it up like that,” Karen says. “She teaches me something new every day.”
“She’s the talker,” Lexi says of her mom with a laugh. “She does the sales, talks to the customers, and communicates with our partners.”
Karen wants her daughter to find a balance between being devoted to work and enjoying life—a lesson Karen says it took her far too long to learn herself.
“Being home, watching Lexi work what seemed like 24 hours a day, was so hard for me as a parent. Her day never really ended,” Karen recalls. “She would go to work, and I’d bring her breakfast lunch, dinner, and snacks. I’d beg her to come eat dinner with us. She’d go until 11 p.m. or later at night, and then do it all again the next day.”
Karen Taub uses her lifelong knowledge of the jewelry industry to help smaller companies grow, expand their collections, and market to their customers. She’s been in the business since she was 18. Madison 501 is named after the address of the building where she worked with her father at Walter Edbril Inc., an independent private-label jewelry manufacturer. She eventually became her father’s partner in the company, which was later sold to Louis Tamis & Sons, a fine jewelry manufacturer with more than 100 years of experience. When her father retired—“so he could play golf,” Karen laughs—she stayed with the business and learned everything she could.
In 2016, Karen split her time between working at Louis Tamis and debuting Madison 501, and she maintains a relationship with the older company. “They’re like family,” Karen says. “I have a desk in their office still.”
Like her mom, Lexi Taub was entrenched in the jewelry business from a young age. But she decided to study finance rather than follow her mother’s path. She worked at J.P. Morgan, a hedge fund, and a private equity fund before joining her mother at Madison 501. She also is the founder of Alexis Jae, a direct-to-consumer jewelry company.
Karen says she is thankful for sharing those moments with her daughter during the pandemic: “It was perfect timing.”
Top: Karen and Lexi Taub work side by side at Madison 501. (Photos courtesy of Lexi Taub)
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