Lauray’s the Diamond Center, Murphy-Pitard Jewelers to Merge

Murphy-Pitard Owners Amanda Pitard and James “Toddy” Pitard Jr. with Lauray’s Owners Mark and Patti Fleischner.

Lauray’s the Diamond Center of Hot Springs, family-owned since 1924, will be acquired by Murphy-Pitard Jewelers of El Dorado, which has been in business since 1939.

The merger was Lauray’s co-owner Mark Fleischner’s and Murphy-Pitard co-owner Toddy Pitard’s idea. The two met through a mutual friend. Fleischner is contemplating retirement.

“We wouldn’t tie our name and share our business with just anyone,” Fleischner said. “Our family has worked for three generations in serving the people of Hot Springs, so we have a lot to protect. With Toddy and Amanda, though, it just feels like family. We are excited for them to be a part of ours and to become a part of theirs.”

Pitard is a master bench jeweler and Murphy-Pitard co-owner Amanda Pitard is a graduate gemologist. Murphy-Pitard also has two certified in-house watchmakers who will now be able to service the watches of Lauray’s customers in a local setting.

The merger will enhance opportunities for both stores to grow by sharing talents and resources in non-competitive markets, the companies said.

“By uniting our store managements and leveraging our brand and industry relationships, we will achieve stronger buying power for more brand opportunities with lower ticket prices,” Pitard said. “There’s certainly strength in numbers, and we couldn’t be more excited about this partnership.

“It’s a real blessing to play a part in bringing these two communities together. Many of our customers have vacation residences in Hot Springs or have retired to Hot Springs Village. We are thankful to be able to join them where they are and build new relationships with the Hot Springs locals.”