Verace is owned by Luigi Costello. His business was selected for the list by a group of editors, designers and other retailers as part of the JCK Show in Las Vegas, a convention for jewelry designers and sellers. At the show, it was recognized as the Best Designer Retailer of 2007.
Besides the award, the 10-year-old store is also getting publicity. A feature by the St. John Source described Verace’s upscale business. "It’s not just backpackers and Cinnamon Bay anymore" as customers, Costello said. Now visitors to the island also want designers’ offerings. Costello said the recent winter season, business-wise, was good, but "not phenomenal."