The Krementz Company, founded in 1866, originally manufactured men’s jewelry. Two families, the Krementz and Lester families, shared ownership of the business. In 1936 the families divided the company with the Lester family manufacturing the fine gold jewelry and the Krementz family making the 10 and 14 karat gold jewelry. Krementz developed and used a gold overlay process called Krementz Plate. Costume jewelry production started in the 1950’s. The costume jewelry business was then sold in 1997.