Material Good distinguishes itself as a retailer through its assortment of fine jewelry, luxury watches, leather goods and accessories by blending heritage brands with contemporary designers in an environment that feels more like a private gallery than a traditional boutique.
When founders Rob Ronen and Michael Herman opened their first store in New York’s SoHo in 2015, they were outliers, choosing a space on a discreet second floor with minimal branding at street level. Inside, they centered their customer’s experience around hospitality and their employees’ passion to deliver a unique retail experience.
“It all started with a question: How do you create a true sense of luxury in the middle of a vast city?” Ronen shared. “We determined that ultimately, people want experience. People want the ability to really explore.”
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Adding that “when clients enter and see a large communal table, seating arranged like a living room, artwork on the walls, natural light, perhaps a game table or a lounge area — those are cues that this is a place to stay awhile, to connect, and to ask questions. That fosters trust, comfort and discovery.”
Sales today are about 45 percent watches, 45 percent jewelry, with the remainder in leather goods, which has been growing, up 56 percent this year. Pre-owned watches represent a large share of their business. The average order is $20,000 for jewelry; $80,000 for watches, and $40,000 for leather goods.
Now, as they mark their decennial with doors in Boston and Dallas slated for early 2026, they continue to refine their retail concept. “We take the heart and soul of Material Good, and we blend it with the city we’re entering,” Ronen said of the new locations.
“All of our learnings have taught us that rarity today isn’t just about owning something hard to find; it’s about experiencing something truly distinctive. For us, rarity resides in the experience, knowledge and guidance we offer,” he said.
The people, he said, are their true secret weapon. “All of our in-house staff are passionate storytellers who have a knack for hospitality.”
The retailer is marking the anniversary in a big way with a 10-year high jewelry capsule collection, “a love letter” to the retailer and “an expression of everything we’ve built,” said Atara Lev, head of design who has been with the company since the beginning. Each piece tells “a story about where we’ve been and where we’re going. I’ve personally born witness to our design aesthetic and client tastes evolving over the years, and was especially concerned that this collection reflect this evolution.”
Made by MG-branded jewelry now accounts for 80 percent of jewelry sales and is the “heartbeat of who we are,” Teresa Panico, director of marketing and fine jewelry, explained. “Whether you’re investing in a piece under $5,000 or a piece north of $100,000, the same level of care, thought, and craftsmanship is consistent. When someone walks into our brick-and-mortar spaces, it immediately evokes a special feeling.”
Here, Ronen takes a deep dive into how Material Good has carved out its niche in the luxury retail landscape.
WWD: You helped pioneer what’s become a major trend in luxury — the second-floor, hospitality-driven retail experience. What did you see that others didn’t and what led you to take the risk?
Rob Ronen: We foresaw that luxury consumers wanted authenticity, a strong curatorial POV, and a sense of belonging more than they wanted mere visibility. So we took a leap — to go “inside” rather than “on display,” to emphasize hospitality, comfort and trust as much as the product. And happily, the trend has followed — luxury retail is embracing these kinds of experiential, behind-the-scenes, second-floor, destination-style environments more broadly. We weren’t chasing maximum foot traffic or the typical street-level facade. Instead, we believed that for our model, which focuses on fine watches, high jewelry and rare pieces, the real value lies in creating an environment where the client doesn’t feel like they’re being sold, but rather invited.
WWD: What’s the strategic thinking behind your expansion to Dallas, Boston, Aspen and Charlotte? How do you translate the retail DNA into each new market?
R.R.: Our location expansion is very intentional. It’s actually very simple — we go where we’re wanted. We have fostered excellent relationships in all these cities because we’ve been fortunate to have incredible brand partnerships that have provided us with valuable insights into the dynamics of each city and its clientele. And then once we really get to know the clientele and they get to know us, they beg us to come take root. Each city represents a market where we see a strong alignment between our clients’ lifestyles and our brand’s perspective. These are also markets with growing concentrations of collectors, luxury consumers, and cultural influence, making them natural extensions of our network.
WWD: How has your relationship with the watch industry evolved as you’ve grown from retailer to trusted partner?
R.R.: We have always said from the beginning that we partner with the brands we believe in the most. From there, we completely immerse ourselves in those brands, which allows us to become the best possible partners for them. Now that we have achieved success with our original partnerships, many other brands are approaching us. We don’t say yes to anybody unless we love and believe in the brand first and foremost. We must believe in the company, the people behind it, and, of course, the products it offers. And if it meets all of our criteria, then we take them on. Once we take on a brand, we don’t just sell them, we fully immerse ourselves. And then, luckily, they realize that our partnership is great from an operational standpoint.
WWD: What does the future of the luxury retail business look like from your vantage point — especially as the lines between new and vintage blur in terms of product?
R.R.: It does what we love the most: forces us to continuously improve our education of clients so they understand independents, vintage, and all the segments of our business. We must understand our clients’ needs so that we can help them discover what they’re looking for. Because often, our clients don’t know what they want. They come to us to ask what’s next, and we love the question. There are numerous points of interest in this category that have evolved, and we have expertise in all of them. Most importantly, you don’t buy a product, you buy an emotion. And our stores are the perfect medium to help you find what emotion you’re looking to purchase or what emotion you’re looking to be touched by. That’s absolute luxury. It’s about finding the product that fits the emotion you’re looking for at that moment, whether with jewelry and watches or leather goods and art.
WWD: Your leather goods business is up 56 percent this year — what’s driving that growth?
R.R.: It comes down to one fundamental thing: exceptional curation. In our leather goods category, we focus on sourcing the kind of pieces people simply can’t find elsewhere. That means we obsess over rarity, unique color, leather, and size combinations. Our access and ability to source any bag within a quick timeframe is something our clients have become accustomed to.
WWD: Over the past decade, have you noticed shifts in who gravitates toward watches, fine jewelry, or even leather goods?
R.R.: From the outset, based on my experience, the entire concept of Material Good was to create spaces that were equally enjoyable and experiential for men and women. I always found that jewelry stores were unapproachable for male clients. And then, with watch stores, women generally felt like they were not being taken seriously. We wanted to create an experience and a place where men and women would feel equally comfortable and equally intrigued. An environment where they could both get lost in the product and the space, and enjoy it in the same way. Therefore, whether it’s our people, the products we carry, or most importantly, the space, our staff knows how to make everyone feel as invited and comfortable as possible, which has ultimately resulted in a relatively even split between men and women in our sales.
WWD: What role do you see digital and virtual sales playing in Material Good’s next phase, given that some clients are spending up to $100,000 online with you?
R.R.: Our website and digital channels are incredible tools for connection and education. But the next evolution for us is not just about web sales. It’s about using that digital introduction to bring people into our stores. That is why we are expanding into new cities. The real magic happens in person. Our success comes from the experience — meeting our people, seeing our spaces, understanding the products up close. That is where clients truly connect emotionally with what we do. The product matters, of course, but it is the people, the setting, and the education that create desire. I always say sales are secondary. If the experience is right, the purchase follows naturally.
WWD: Looking ahead to the next 10 years, what’s the biggest opportunity?
R.R.: Our most significant opportunity is to continue to find the best people for Material Good. Not our clients, our people. What we spend the most time on and where we find the most incredible opportunities is identifying the people in every city who will become part of our family and understanding how to convey everything we love about our business, luxury, and our product, as well as our clients. That is our greatest opportunity. And that’s also the greatest thing that we have. We don’t find people who are exclusively from the luxury world or the retail world. We go out and we seek people from all sectors. It doesn’t matter what they do if they have pure passion. Then that’s someone who could be perfect for Material Good.
