A Southern Indiana jeweler is crossing the river into Kentucky.
Koerbers Fine Jewelry is planning to open a store at 4288 Summit Plaza Drive inside the Paddock Shops, owner Jacquelyn Koerber told Business First in an interview.
The 4,938-square-foot store will be located in the former Orvis space that closed last year. Koerber said the location will undergo a “major buildout” to reflect the Koerber brand.
A permit filed with Louisville Metro Planning and Design calls for the demolition of existing fixtures and finishes and the addition of new cabinetry, fixtures and finishes.
Koetter Construction Inc. is the general contractor for the project. Leslie McGuire is the designer.
Koerber said the company is investing more than $1 million in the new location, which will employ eight people. The luxury jeweler’s current store in New Albany will remain open.
“We’re using the same designer that we did in our New Albany store, so that it reflects our current store, which is very inviting and feminine,” Koerber said. “I own the store and I pick out the entire collection. So, I want to bring that feminine energy into the store. We will showcase fine jewelry at all different kinds of price points so that it applies to everybody's needs.
“Our primary focus is engagement rings, diamonds and wedding bands. We'll also have men's Swiss watches, and of course we'll have custom design and repair shop as well.”
Koerbers Fine Jewelry was founded in the 1980’s by Koerber’s parents who began buying and selling scrap gold as a way to make extra money. Eventually, the pair opened a few showcases inside Koerber’s aunt’s beauty salon and after nine years they were able to buy their own storefront.
Koerber herself moved to New York City and became a jewelry buyer for Donna Karan New York before moving home and joining the business in 2012. Koerber bought the store from her mother in 2021.
Koerber said expanding to Louisville is the natural next step in the business’ growth. She said the Paddock Shops doesn’t have a jewelry store in its footprint, so she’s filling a gap in the market.
“We've had customers drive [to New Albany] from Louisville for years. They wanted that fine jewelry experience that didn't feel like a mall chain, and I think they loved our curated selection,” Koerber said. “It's a corridor with the right customer profile. The demographics in that area align well with our price point, our brand. We did our homework on the location, and we just felt like it was the right fit for what we represent."
"[The Paddock Shops] have boutiques in there, interesting things, and they didn't have a jeweler in that location, which I felt like was such a good opportunity for us.”
The Paddock Shops have added several high-profile national retailers since it sold in 2023 for $96.8 million to CBRE Strategic Partners U.S. Value 9, through a joint venture with Fairbourne Properties.
That same year, specialty outdoor retailer REI Co-op opened at 4350 Summit Plaza Drive. That was followed by The Fresh Market, a Greensboro, North Carolina-based grocer, which opened at 4100 Summit Plaza Drive
Last year, work wear retailer Carhartt opened a store at 4720 Summit Plaza Drive.
