
As the youngest person to serve as president of the Plumb Club, Steven Lerche, 35, is intent on expanding the club’s reach, building on its reputation for sustainability and responsibility, and fostering meaningful ties among members.
Lerche was elected along with a slate of executive committee and board members in June. The newcomers met for the first time in August, and Lerche says they’re already working on the club’s key research project: its industry and market insights report.
Lerche, who serves as president of his family’s business, Goldstar LLC, says he hopes he becomes known among his fellow Plumb Club constituents for moving quickly, finding fresh ways for suppliers and retailers to serve one another, and boosting the Plumb Club’s impact year-around in the realms of politics, education, and innovation.
“I’m honored that people want to hear my point of view and trust me enough to lead the organization,” Lerche says. “I want to enact real change and make the club the best it can be.”
He has served on the Plumb Club’s board for two years—first as treasurer and then as vice president. JCK spoke with Lerche about his presidency, his take on the jewelry industry, and more.
(This conversation has been edited for length and clarity.)
How did you get into the jewelry industry?
I started in financial planning and corporate benefits. But when I was 24, 25, I started looking for a new opportunity. I was at a bit of a career crossroads, and my father said, “Why don’t you come work with me for a year until you figure things out?” And I never looked back. I learned how to do each job within our company: how our shipping works, how orders are placed, how sales are done, how product development is done.
My father was very adamant that you’re not going to have to do every job in your career, but you need to know how to do everything so nobody can tell you it can’t be done. And I think it’s really important as a leader, whether that’s a leader of my company or a leader in the Plumb Club, to rally the troops, so to speak, and bring a positive attitude.
What does it mean to you to be the youngest club president?
I think it’s really cool. I came up in a different industry than my father or my predecessors. I’ve got my own experiences and influences from my colleagues, peers, and friends in the industry that help shape my outlook. Today, the buyers are different, the merchants are different. The next generation that’s coming in wants to know that the organizations, like the Plumb Club, are speaking to them. Whether you’re an independent jeweler that’s taking over for your family, a major retailer, or you’re a new buyer in the industry, you want to know that you can rely on the Plumb Club or one of its members, whether that’s for education, business, or to connect with people.
You’ve talked about three pillars you want to focus the Plumb Club on—what are they?
We want to build a prestigious umbrella brand. I want the club to be a mark of excellence. And I want people to know us for our responsibility both to sourcing and to the industry. We want to attract the best-in-class manufacturers and suppliers to join us. To that end, we’ve identified three strategic goals. Number one is raising awareness and trust of the club. The second would be enhancing our value proposition throughout the industry as a go-to hub of influence and knowledge. And the third would be attracting new membership.
How do you describe your leadership style?
It’s been ingrained into me. My father is the chairman of the club and I definitely have sat in on conversations within the club before I was ever really involved. And if you ask about my rise and how it was done at my age, I always fought to be in the room. I fought really hard to be a sponge in every conversation, every meeting. I strive to always be a good listener as well because I do have strong opinions. I make those known. I’ve learned as a Plumb Club representative and leader that I have to wear two hats. I have to make decisions that are for the betterment of the club and not just the betterment of my company. And I think those that have flourished in the position before me have been able to do that.
I owe a great debt of gratitude to my father and to Roger Forman, our previous president who just finished his term as I take over. Roger set a really good example and helped push me to be involved as vice president in things that normally the vice president wasn’t involved in, allowing me to have that seat at the table.
Now for a few fun questions: What’s your favorite gemstone, last book you read, and hobbies?
That would be the diamond. The last book was Bag Man by Lew Frankfort, the former CEO of Coach. And I am blessed with a house full of women. My wife and I have two daughters, and my hobbies are golf and spending time with my family.
(Photo courtesy of Steven Lerche)
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