After 3 decades, G. Thrapp to close its doors

Founder Gary Thrapp, who opened G. Thrapp Jewelers in Indianapolis in 1984, is set to retire and will close his store in the coming months.

Michelle Graff michelle.graff@nationaljeweler.com

Indianapolis--G. Thrapp Jewelers, an Indianapolis retailer that opened in the mid-1980s and was the first in the state to carry David Yurman, soon will close up shop.

G. Thrapp, founded in 1984, was the first to introduce David Yurman to the state of Indiana at a time when branded jewelry was much less a part of the industry.Founder Gary Thrapp, who opened his store in 1984, is set to retire soon and will close his store in the coming months. Thrapp is holding a brief going-out-of-business sale today (Nov. 19.) The store’s entire multi-million dollar inventory of fine diamonds and gems will be offered for immediate sale before it closes for good.

Though he’s retiring from retail, Thrapp won’t be completely leaving the industry; he’ll be working with auction houses as a consultant on fine estate and period jewelry and also plans to stay active in the community.

Once a pole vaulter at Indiana University, Thrapp said he always assumed that after college he would be a coach in his hometown, Kendallville. But those plans changed after a three-week post-graduation trip to Santa Barbara, Calif. turned into a months-long adventure, leading him to get a job at a local jeweler to pay the bills.

Intrigued by jewelry-making, Thrapp never turned back. Eight years later he returned to Indianapolis with his family and got a job at a local jewelry store.

When he opened G. Thrapp Jewelers in 1984, the store had three showcases of jewelry in a 1,200-square-foot space, which now is part of the retailer’s current 3,500-square-foot location.

Thrapp became the first jeweler in the state to carry David Yurman at a time when branded jewelry was almost completely unknown. Back then, Yurman was both the designer and the brand’s only salesman.

Now, G. Thrapp has built an extensive lineup of designer collections and also carries fine estate and period jewelry and provides custom design work. The retailer has been recognized with a number of awards in the trade, including making InStore’s list of “Cool” stores in 2008 and 2012, and also regularly is on Indianapolis Monthly’s Best of Indy list.

Thrapp also has been a passionate member of the community from the beginning, first working with his landlord to improve the customer experience at the Shoppes at 56th and Illinois, a property he now owns and works to improve.

As a supporter of local

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nonprofits, G. Thrapp Jewelers donates an average of $237,500 worth of merchandise, gift cards and cash every year to organizations such as the American Cancer Society, American Heart Association, March of Dimes, Indiana Art Museum and many more.

“Although my passion for jewelry is ingrained and I’m hugely proud of our civic contributions, my retirement is timely,” Thrapp said. “I’ve been very fortunate to have had the opportunity to meet and build so many friendships during my 32 years in business, and I am so very grateful for all of my loyal friends and customers.”

G. Thrapp is just one of a number of longtime jewelers who have been closing their doors in recent years, a trend that, according to recent JBT data, is on the rise. The most recent quarterly data released by the JBT at the end of October shows that 612 retailers have closed their stores year-to-date, a 30 percent increase over the same period in 2014.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.