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Maui Divers Jewelry honored as 'Best in Business'

11/28/2006 2:00:07 AM

Honolulu��Maui Divers Jewelry, Hawaii's largest jewelry retailer and manufacturer, has been named "Best in Business" in Pacific Business News' Business Leadership Hawaii Awards for 2006.

The company was founded in 1958 as a dive shop and built its name in the jewelry industry by designing, manufacturing and selling Hawaiian black-coral jewelry, becoming known as Maui Divers Jewelry in 1959. Today the company owns and operates 59 stores in Hawaii, Guam and on the U.S. mainland.

Maui Divers Jewelry expects to bring in $73 million in sales and add three additional stores to its roster by the end of the year. Expansion plans call for another six store openings by the end of 2007, including a new Maui Divers Jewelry in San Francisco's Westfield Centre.

In addition to the company's strong growth record, Maui Divers Jewelry was also recognized for the establishment of an employee stock-ownership plan in 1997. Employees today own 35 percent of the company.

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