Underwood’s, one of the premier jewelry retailers in Northeast Florida, recently announced the appointment of Michael Richards as president. The company’s former vice president and chief operating officer began his new role on July 1.
Longtime Chairman and now-former President Clayton Bromberg remains active in the chairman role, influencing the business’s strategic direction, merchandising, diamond buying and inventory procurement.
Richards oversees the watch departments, multiple jewelry lines, repair departments, human resources, accounts payable and receivable, compliance and more.
He expressed appreciation for the accomplishments of Bromberg, who was appointed Underwood’s president in 1988.
“Clayton Bromberg is a true giant in our industry,” Richards said, agreeing that Bromberg has left him some big shoes to fill. “Clayton’s been preparing me for this … All I can do is take all the things he’s taught me all these years and be the best version of me that I can be.”
He said he was excited to continue the company’s legacy of excellence.
“Our commitment to quality in materials, craftsmanship, design, presentation, education and service will remain our guiding principles as we move forward,” he said. “Clayton’s dedication to the business and his commitment to customer satisfaction have made him not only a mentor to me and the generations of staff but a respected figure in the industry and a pillar in our community. His vision and leadership have been pivotal in upholding the value and reputation of Underwood’s.”
Bromberg expressed confidence in Richards.
“In the past three decades, Michael’s expertise and passion for the jewelry industry, along with his achievements in leadership outside of the business, make him the ideal leader for Underwood’s,” he said. “In 2020, he took a more active role in operations and executive leadership, and it has been a natural progression to name him as president officially. I am very proud of the leader he has become and look forward to seeing the company continue to thrive under his direction.”
Having forged a solid reputation for quality and service over decades, the business will continue in that vein, even with the events for which it is known.
Still, company officials have an eye on the future.
“As we look ahead to the next 10 years and embark on this new chapter, I am excited about the opportunities ahead for Underwood’s,” said Bromberg. “We will continue to innovate while staying true to the principles that have made us a trusted name in jewelry for nearly a century.”
Underwood Jewelers was founded in 1928 as a diamond and watch store in Palatka by Herbert F. Underwood. He moved his store to Jacksonville in 1940, selling his Palatka shop at the start of World War II. Underwood opened his first branch store in 1953 in the San Marco neighborhood.
In 1974, he sold the business to Bromberg and Company, one of the oldest and most respected family jewelry businesses in the country, having been founded in 1836 in Alabama. At the urging of Frank Bromberg, Underwood stayed on full-time. In 1980, he switched to part-time and became instrumental in training Clayton Bromberg. Underwood passed away in 1999.
Bromberg began his career with the company at its downtown Jacksonville store as a gemologist. Amid various challenges, he rose through the ranks to store manager, vice president and, ultimately, president.
In the meantime, Richards had begun his career while still in high school at Harper’s Jewelry, which was located in a small West Virginia town. At first, he was given a part-time job doing errands, but the jeweler taught him some important, if basic, skills.
“He taught me how to engrave, wrap packages, solder chains,” Richards recalled.
While pursuing a business management degree at Marshall University in Huntington, West Virginia, he worked at T.K. Dodrill Jewelers.
“I truly fell in love with the jewelry industry, gemology and everything about it while I was in college,” he said.
Following graduation, he was hired by Underwood’s as the San Marco store manager in 1990 and earned the title of gemologist a year later. It was a period of transition and growth for Underwood’s with the addition of the Avondale store and, in 1996, the Ponte Vedra store.
Richards, who had been appointed chief operating officer in 2018, increasingly began to take over greater executive responsibilities at the conclusion of the pandemic. Bromberg, meanwhile, delved more deeply into merchandising, as well as development of the diamond portion of the business.
Ultimately, the decision was made to elevate Richards.
“When you hire somebody just out of college, you have a chance to help mold them and make them into the type of retailer you’d like them to be,” explained Bromberg. “I’ve seen his progression, and it’s time for him to step into this role.”
Like Bromberg, Richards is a past president of the American Gem Society and has served on the Jewelers Vigilance Committee, an important industry organization that helps to ensure legal and regulatory compliance. These affiliations — and others — have established both men as leaders beyond the doors of Underwood’s.
“(Richards) has served the jewelry industry at large and is a well-known industry figure all over the United States for the work he’s done,” said Bromberg. “We think that’s important — that we remain in positions of leadership in the United States in the jewelry industry.”
In addition, Bromberg has served on the boards for Jewelers of America, Florida Jewelers Association and The Better Business Bureau. He has served on the American Gem Society Laboratory Board since 1996 and has served as its chairman for two terms.
In addition to his professional affiliations, Richards remains active in his community.
In 2003, Bromberg and Underwood’s were recognized via induction into the National Jewelers Hall of Fame. Bromberg is the recipient of the American Gem Society Robert M. Shipley Award (2004), the American Gem Society Triple Zero Award (2013) and the Women’s Jewelry Association Ben Kaiser Award (2015).
