Steuben, purchased in 1918 by Corning Inc., will cease production on November 29th, 2011, according to the Steuben Courier. At least 60 workers will lose their jobs with the factory closing.
Steuben, luxury lead crystal made by hand in the United States, is prized by collectors worldwide. The factory opened in 1903, where founder and designer Frederick Carder's magnificent creations earned him a reputation within the decorative arts alongside Louis Comfort Tiffany and Rene Lalique.
Luxury goods are doing well, so to this reporter, the initial announcement was confusing, but the history reveals problems. After the business lost nearly $6 million in 2007, it was purchased from Corning Inc. in 2008 by Schottenstein Stores Corp., a Columbus-based private retail holding company with a portfolio of brands that includes upscale handbags, jewelry and Italian fashion.
Schottenstein was unable to reverse the downward slide and never saw a profit, according to company spokesman Ron Sykes.
At the time, Corning officials said the company wanted to move away from the luxury glass business and into the innovative technology and the industrial component industries.
The Corning Museum of Glass will discontinue its Steuben line, and the flagship store on Madison Avenue in New York City will close after the inventory is sold.
Corning has an agreement to repurchase the Steuben brand name from Schottenstein, but the company has no plans to re-enter the luxury glass business, according to Corning Inc. spokesman Joe Dunning. "It didn't fit our business model back in 2008, and it doesn't fit our business model now,"
Dunning said. "We have no plans to use it, but we are preserving the brand for any uses down the road."
