SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
IndependentsApr 29, 2016
7 questions with Karen Goracke
A chance encounter at a soccer game brought Karen Goracke back to Borsheims in 2004 on what was intended to be a temporary basis. Today, she's preparing to become the company’s next president and CEO.
Fast-forward nine years and Goracke is the new president and CEO of Borsheims, taking the reins from outgoing CEO Susan Jacques.
“I was just going to work the Christmas season. It’s been the longest Christmas season ever,” she laughs.
Goracke, a 47-year-old Omaha native, and Borsheims’ Director of Advertising and Marketing Adrienne Fay took the time to speak with National Jeweler about the changing of the guard at the Midwest retailer, the opening of its second location in the Nebraska Crossing Outlets and what it’s like to work at a Warren Buffett-owned company.
National Jeweler: You’ve worked at Borsheims for a total of 25 years, leaving and then returning to the company after a few years with your family. What made you want to come back?
Karen Goracke: I had actually run into Susan (Jacques) at a (college) soccer game, of all places. We had remained friends during that time … she said, why don’t you think about coming back part-time. My youngest (child) was about four and I said, you know, maybe I should. And that’s how that dialogue started.
It’s such a great place to work. Our best asset is our people. I have many people that I consider friends as well as co-workers.
NJ: When you heard that Susan would be taking over the role of interim president and CEO of the GIA, did you have an idea that the CEO post at Borsheims would be opening up and that you were a candidate?
KG: Absolutely not. I was not thinking about it, to be honest, in any great capacity. We were getting ready to open our second store and our focus was really on the opening. In my role as director of merchandising I have a whole other store to outfit with beautiful jewelry. That has been my focus right now.
NJ: How did you find out who would be the next president and CEO?
Adrienne Fay: Everything happened very much like a domino effect. Susan knew the next president and CEO would come internally and she knew it would be someone from Borsheims. She was very confident in her executive team and that it would be someone from her executive
Editors' Picks
Sponsored by
team. It was a discussion that they (Jacques and Buffett) had, and Karen was brought in as the conversation was finalized.
NJ: I’ve read that Warren Buffett is “bullish” on women in the workforce and has promoted many women into leadership roles at his companies. What is it like working for Buffett?
KG: I haven’t officially started working with him but I think Borsheims is a great model of how women can succeed in business. I think we have just a great culture here. Six out of the seven (people) on the executive team are women. It’s just very family-oriented. I have the luxury of being able to spend a great amount of time at work and at home. It’s a place that actually promotes that kind of balance. I can’t be really great at my job if I am failing at my personal life.
Susan has been really great at promoting that ideal--making your life work. It can’t be all work. As much as I love work I do need to spend time with my family. That’s so important to me. I am very active with my kids as well as things within the community. It’s really close to perfect as you can get in being a working wife and mom.
NJ: Why did Borsheims opt to make its second store an outlet?
KG: It was a conversation we had had for about two years. It was more a type of conversation around the type of development that would happen. We waited to see the type of luxury retailers that were going to open in this outlet.
But it (the new outlet store) is in the same wheelhouse as what we do. We are a luxury discounter. For us, this is something we still knew and are familiar with: to be able to do deep discounts but have a quality product to offer to customers.
NJ: Does Borsheims have plans for a third location?
KG: Not at this time.
NJ: What was the last book you read?
KG: I just read Divergent, which is more of a teen novel my son was reading. Two of my three boys are also avid readers and a lot of times we’ll try to read (books) simultaneously and have our own book club. This is something we enjoy doing.
NJ: I’ve read that Warren Buffett is “bullish” on women in the workforce and has promoted many women into leadership roles at his companies. What is it like working for Buffett?
KG: I haven’t officially started working with him but I think Borsheims is a great model of how women can succeed in business. I think we have just a great culture here. Six out of the seven (people) on the executive team are women. It’s just very family-oriented. I have the luxury of being able to spend a great amount of time at work and at home. It’s a place that actually promotes that kind of balance. I can’t be really great at my job if I am failing at my personal life.
Susan has been really great at promoting that ideal--making your life work. It can’t be all work. As much as I love work I do need to spend time with my family. That’s so important to me. I am very active with my kids as well as things within the community. It’s really close to perfect as you can get in being a working wife and mom.
NJ: Why did Borsheims opt to make its second store an outlet?
KG: It was a conversation we had had for about two years. It was more a type of conversation around the type of development that would happen. We waited to see the type of luxury retailers that were going to open in this outlet.
But it (the new outlet store) is in the same wheelhouse as what we do. We are a luxury discounter. For us, this is something we still knew and are familiar with: to be able to do deep discounts but have a quality product to offer to customers.
NJ: Does Borsheims have plans for a third location?
KG: Not at this time.
NJ: What was the last book you read?
KG: I just read Divergent, which is more of a teen novel my son was reading. Two of my three boys are also avid readers and a lot of times we’ll try to read (books) simultaneously and have our own book club. This is something we enjoy doing.
More on Independents
The Latest
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
Weekly QuizApr 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
MajorsApr 25, 2024
Detroit Lions’ QB Jared Goff Keeps Going to JaredThe three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
