CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
IndependentsApr 10, 2019
San Antonio’s Penaloza and Sons to Close After 61 Years
Paul, Alice and Phillip Penaloza plan to retire this year.
From left to right, Paul, Alice, Phillip and Charles Michael Penaloza outside Penaloza and Sons Inc. in Castle Hills, Texas, an enclave of San Antonio. Charles Penaloza opened the business in 1958 as a trade shop.
San Antonio—Penaloza and Sons Inc., a jewelry store that has been open for six decades, is in the process of shutting down so its owners can move on to the next stage of their lives—retirement.
Charles Penaloza, the son of a Mexican immigrant from Yucatan, opened Penaloza and Sons as a trade shop in 1958, fixing and making jewelry for other jewelers.
His son Phillip Penaloza joined the business in the 1970s, followed by Paul Penaloza in 1981.
Over the years, the store has served generations of local families as well as a few high-profile clients.
Penaloza and Sons Inc. made pieces for San Antonio native Carol Burnett, as well as the late Bob Hope and Debbie Reynolds, who bought a diamond bracelet for daughter Carrie Fisher while in town to perform at the Majestic Theatre, Phillip recalls.
When Charles died in 2002, Phillip and Paul, a certified gemologist, took over.
Phillip became the company’s chief designer, and other family members came on board as well. Paul’s wife, Alice Penaloza, a graduate gemologist, sells and appraises jewelry, while Phillip’s son Charles Michael Penaloza works as a bench jeweler.
(Penaloza and Sons is not to be confused with C. Aaron Penaloza Jewelers, another San Antonio jewelry store. Owner Charles Aaron Penaloza is Paul and Phillip’s brother. He opened his own store in 1990 after working at Penaloza and Sons.)
Now the time for Paul, Alice and Phillip to retire has come, and their to-do list mirrors that of many who are approaching retirement age: travel, spend more time with family and have more time to themselves.
RELATED CONTENT: There Is a Story Behind Every Store Closing“Paul and I have worked together and built a very strong business, and it’s been a pleasure making that happen,” Alice said in a news release about the store’s closing. “It’s just felt like this was the right time to close this chapter in our lives.”
Paul told National Jeweler Tuesday that when they knew it was time to step back, they initially tried to find a buyer for the business but couldn’t, and Charles Michael was not in a position
to acquire it on his own.
So they opted to close the store and sell everything—the jewelry as well as the building, furniture and fixtures.
But this might not be the end of their involvement in the jewelry business. Paul said they could continue as a smaller business, making one-off pieces for clients or creating and fixing jewelry for other jewelers, as the shop originally did when his father opened it in the late 1950s.
“It might evolve back to that,” he said. “We have no definite plans right now.”
The going-out-of-business sale at Penaloza and Sons started Friday, and items are marked down as much as 70 percent.
The store’s inventory consists mainly of 18-karat gold and platinum pieces as well as a selection of “rare and valuable” gemstones including unheated pink sapphire, alexandrite and garnet.
So they opted to close the store and sell everything—the jewelry as well as the building, furniture and fixtures.
But this might not be the end of their involvement in the jewelry business. Paul said they could continue as a smaller business, making one-off pieces for clients or creating and fixing jewelry for other jewelers, as the shop originally did when his father opened it in the late 1950s.
“It might evolve back to that,” he said. “We have no definite plans right now.”
The going-out-of-business sale at Penaloza and Sons started Friday, and items are marked down as much as 70 percent.
The store’s inventory consists mainly of 18-karat gold and platinum pieces as well as a selection of “rare and valuable” gemstones including unheated pink sapphire, alexandrite and garnet.
More on Independents
The Latest
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
