tom shane graduated from the university of colorado in 1970 with a degree in business administration. in 1971, he founded modern-day shane company, although his family has been in the jewelry business since the great depression. his grandfather, charles shane, launched the family into the jewelry business in 1929 when he purchased his first jewelry store in cleveland, ohio. richard shane, tom shane's father, joined his father and brother, claude shane, in the business after world war ii. several years afterward, richard and claude split their business interests into two large jewelry chains in the midwest, opening the first stores with the name shane company. throughout the following decades, tom shane grew shane co. from a one-store operation into a jewelry store chain with 20 locations in 13 states.