Michael anthony jewelry biography

Michael Anthony Jewelers was founded in 1977 by two young men from New York City: Michael Paolercio, the new company's president and chief executive officer, and his younger brother Anthony Paolercio, Jr., chief operating officer.

In 1978, he branched out from Corbo Jewelers and founded Michael Anthony Jewelers.

The company went public in October 1986, garnering about $10.5 million in proceeds from the sale of more than 30 percent of the outstanding shares of common stock.

Michael Anthony Jewelers was, in 1987, manufacturing and selling its products to more than 1,200 customers throughout the United States.

The company also was importing 14-karat gold chains from Italy, and these imported chains accounted for half of net sales in fiscal 1988.

These measures put the company back into the black, even though net sales dropped to $85.4 million in fiscal 19