A reputation for stunning workmanship, breathtaking custom design, and a philanthropic mission has turned Underwoods Fine Jewelers into an Arkansas institution.
It all began with a dream—and a mere $1,000—in 1957. Legendary fine jewelry retailer William “Bill” Underwood, who passed away earlier this year, opened his first store on Dickson Street in downtown Fayetteville on Dec. 27, just days after the Christmas rush. As in all post-holiday seasons, people had abruptly stopped spending, and it was touch-and-go in terms of staying afloat those first few months.
The shop persevered and has become a brightly polished jewel in its community, which it’s been serving for 66 years. Both the store and the Underwood family, now on its second generation of ownership, are respected and well liked within the fine jewelry industry.
Craig Underwood, Bill’s son and the current president of Underwoods, ably stepped into his father’s shoes and with his wife, Laura Underwood, has grown the shop into a formidable destination for custom-made pieces. And the third generation is already in place: The couple’s middle son, Troy Underwood, is the firm’s vice president.
While most fine jewelry stores deal in designer or mass-produced product, the Underwoods prefer to do business under their own shingle—there are no name-brand watches or jewels in the store. Why? “The only name you can protect is your own,” Craig says. “So, if you come in our store, you won’t see any other name but Underwoods.” And every item is a beauty—a “forever” piece made with considerable care. The store’s tight-knit team has won design competitions from New York to Tokyo and has seen its creations sparkling on the Emmy and Oscar awards red carpets.
The store’s staff includes four board-certified gemologists (accredited gem experts) who help customers select loose gemstones, along with experts able to digitally render designs, cast jewelry from molds, and create design facsimiles using 3D printing. The entire process, from concept to completion, is done in-house, which allows the store to easily prioritize quality control.
And at Underwoods, quality is everything. It’s the kind of store that emphasizes a diamond’s cut quality over its size. “It’s all about how a diamond refracts light, and that depends entirely on the cut,” Craig says. Of all the diamonds in the world, only 2% are cut to ideal proportions, typically 58 facets. And out of every 20 diamonds that cross Craig’s desk, just one, on average, will meet his team’s high standards. “The sparkle and the brilliance and the beauty, that’s what you really want in a diamond—something that talks to you. And I love being able to share that with customers.”
Underwoods is also known for remaking vintage pieces for the modern jewelry lover. Popular ring revamp requests these days include solitaire diamond styles flanked by baguette diamonds and kite-shape or bullet-cut diamonds set in platinum or 18k white gold.
“A customer will come in with a piece that is precious to them, and the memories and the emotion that is tied to that piece is so important,” notes Craig. “Jewelry is one of the few items that has that attachment.”
Fayetteville is a college town (the University of Arkansas, among others), and the area is home to big companies like Tyson Foods Inc. and Walmart Inc. But it also has needs, and since 2000, the Underwoods have supported Northwest Arkansas by donating more than $500,000 to local nonprofits. Laura is involved with the Fayetteville Chamber of Commerce as well as charities Arkansas Advocates for Children and Families and the Yvonne Richardson Community Center. Craig and Laura bought an abandoned golf course in 2017 and in 2020 gifted 65 acres of it to the city for a park. “This community has been so good to us, to our business, and to our family—there’s a joy to giving back,” Laura says.
And Fayetteville certainly wouldn’t be the same without the Underwoods. Even the store’s modern building has a pedigree, and ties to Arkansas royalty.
Back in the 1960s, when Bill was just starting out, he was approached by a Frank Lloyd Wright apprentice named E. Fay Jones, who proposed a two-story building at 611 W. Dickson St. with the street level dedicated to fine jewelry. E. Fay Jones would go on to become arguably the most famous architect in Arkansas. Bill Clinton wrote about living in an E. Fay Jones home in Fayetteville in his 2004 autobiography My Life. And Jones’ stunning Thorncrown Chapel in Eureka Springs, Ark., is listed on the National Register of Historic Places.
Eventually, the family took over the second floor of the building and also bought the space next door. The 5,000-square-foot store is now a mid-century modern landmark: a large square-shape building with oversize windows accented with wood and brick and a classic roof overhang. Late last year, new carpeting and display cases and a redesign of the gift-wrap and hospitality areas (all in Underwoods’ signature gold and beige color palette) amounted to an elegant spruce-up.
But gorgeous jewelry and elegant interiors aside, it’s the Underwood family’s high standards and deep connections with their clients that make the store so successful. “I’m aware our business helps mark significant milestones in a customer’s life,” Craig says, “and we don’t take that lightly.”
