New Ohio owner, seeking elusive profits, ends up sinking lead crystal icon Steuben Glass

In a memorable Hollywood scene from “Risky Business,” the 1983 comedy drama that launched Tom Cruise to stardom, a mother’s prized Steuben glass egg goes missing from the mantelpiece only to reappear — imperceptibly nicked — in the nick of time.

Steuben Glass, an American icon of handcrafted crystal for over a century, looks now as if it’s vanishing for good.

Its lone factory in Corning, a glassmaking company town flanked by Steuben County’s tree-topped mountain ridges in southwestern New York, is shutting down Nov. 29, the week after Thanksgiving. With profitability elusive at the best of times, the prospects of reviving the 108-year-old vanity brand seem every bit as slim.

While the matchlessly transparent glass is still acclaimed as the lodestar of lead crystal, Steuben has struggled to find its footing in old age — never more so than since 2008 when glass pioneer Corning Inc. sold the ailing business to Schottenstein Stores Corp., a retail-chain operator in Columbus, Ohio.

Topping the list of critics’ complaints: Uninspiring new designs, the addition of cheaper engraving methods and, for the first time in its history, a production shift overseas that squeezed the price of simpler ornaments and champagne glasses below an unheard-of $100 each.

Read more on the link below.

600450 New Ohio owner, seeking elusive profits, ends up sinking lead crystal icon Steuben Glass
Date: 26 October 2011

See more news about:

Others also read

Proprietary laminate windows collect, store energy; convert it to electricityRIVIERA BEACH, FL – An innovative new patented technology transforms office building windows into "solar farms" and allows these structures to reuse collected energy and become self-sufficient in the event of a power outage.
DALLAS, Texas, December 22, 2011 /PRNewswire/ --ReportsnReports adds new market research report 'Solar Photovoltaic (PV) Power - Global Market Size, Installation Prices, Module Market Shares, Market Segmentation, Regulations and Key Country Analysis to 2020' to its store.
The University of Minnesota's historic Folwell Hall completed three years of extensive renovation, just time for the 2011 academic year.
Glassman as one of the largest glass processing machine manufactures in the world presented ZAK Glass Technology Exhibition during 8-11 December 2011, in Mumbai, India.
The development of ESG’s privacy glass product, ESG Polyvision™, has quite literally reached new heights.
Michael Gai has been named Vice President of Operations at Glass Doctor, following the recent promotion of Mark Liston to President.

Add new comment