tv Studio 1.0 Bloomberg March 26, 2016 4:30am-5:01am EDT
they have been creating masterpieces for more than 120 years. it started with a boy who went to america to make history. he continues that tradition. it's time now for these highfliers to join us and tell us how the heritage lives on it. haslinda: welcome to "high flyers." in 1890.ed you are the fourth generation. you knew you were going to be in the business. but start with you.
you took the trip. you looked at the mines. you explored the diamonds from an early age. being fascinated with stones was in my teenage years has been improved tremendously. the day i started working with opportunityhad the being part of the family and partly because of the financial situation at that time. oil and the availability of funds in the purchasing powers of royal families. me to be able to travel and learn about gems and be able to procure the best of the best that are available, to
be able to go back because there was tremendous need for such stones. haslinda: you've been in the family. you are not necessarily in love with the whole business. you were working for the family business, but moved out because you did not want to be in your dad's shadow. fred: i watched my dad buy gemstones. we traveled the world. i liked what he did. up inhen we were growing the early days, we used to have diamonds in our factory. we watched our father buy gemstones and manage his business. we grew up in the factories. a higher studying appreciation for gemstones. i understood the science behind them and understood how rare they were. as a result, my appreciation for
gemstones increased trade -- increased. haslinda: it took your dad to convention to come back. my father retired in 2010 and handed over the business to his sons. i built my own portfolio for 17 years. i wanted my own organizations. working in a family business can be difficult. my father is a genius at what he does. he understood gemstones. he was managing his business in a very centralized manner. entrepreneur,oung i was ready to make my mark. the best way to do that was to start building my own ventures. i got into the food service business. i've built a food chain with three brands. we had 120 stores.
i've built an i.t. company. i have a startup. it helps collaborating in more efficient ways. i've built seven different companies. when my father said it was time to hand over the business from the third-generation to the fourth generation, i am grateful for having the experience outside the family business and building my own ventures. i learned a lot of lessons i could not have learned being in the family business. haslinda: it was always your first love. by was an exciting business for you? yearsit takes millions of to have a diamond. to have in your hand those special colors of diamonds , it's a very special feeling. i feel the vibration of stones.
i am fascinated by them. it's something that grew in may because of the passion of my uncle. you understand the beauty of stones. haslinda: how much inspiration did you get? it was your great-grandfather who started the business back in beirut. they were specializing in jewelry and watches as well. passed notes have been down that lived with you today? your biggest asset is not necessarily your inventory, the diamonds that you have. it is your reputation. your reputation allows you to source diamonds and cultivate your relationship with suppliers. , you can reputation service your clients and take
care of them. unless you have a great reputation in the business, your inventory is illiquid. integrity is at the core of what we stand for. that's why we are the three brothers, we consider ourselves guardians. values oure forefathers have built. we have transferred that over to us. it is our job to consider that heritage on the principles that we were taught. haslinda: is it important that it stays a family business? your daughter is in the business as well. is it important to stay in the family? it should continue. we do have the responsibility to ensure that it goes from one generation to the other. todoing that, by continuing nurture that belief that what we
have is very unusual, i don't know many international companies in the business that have been in business for 125 years and are still expanding and going strong. haslinda: we all love diamonds. diamond,rchasing a what is the one thing people should know? what they need to find out is it that is the thing for them? what shapes? what color? size orople are into quality. there is a demand for higher quality stones. states, they may go for the larger size rather than the quality. has the better i
were diamonds between the two of you? i like to think that we learn from each other. it's a learning process. we never stop learning. group andelief of the the --cation has donating and contribution to the expansion of education worldwide and making people better understand and better judge diamonds. the g.i. certificate is the most renowned certificate. prices of diamonds are based on these certificates and evaluations. that is the firm belief of education. even when we talked in asia or
worldwide, it's much easier to be able. we offer these services. we sit with customers. we explained to them about diamonds. explain what makes this diamond more expensive than another. you could have two stones that are the same weight and same shape. all it takes is for one of them did the price could be up 50%. education is very important. customers need to be able to ask questions. >> coming up. ♪
is one more important than the other? jean: they are all equally important. we have something that is important that we refer to as the x factor. i'm sure you have heard that this diamond is triple x. , therefers to quality grade, the polish. all of these components affect the price tremendously. that affects the way the diamond shines and looks. haslinda: there is a new trend? they may not be the stone that women are after now. they are open to other colored stones. the needhave witnessed for different colored diamonds. stones besidesf the ruby, emerald, and sapphire.
there is a beautiful blue color. there is an orange color. now, are very popular especially in asia. we have a tremendous demand for these stones. haslinda: when we talk about your clients, it's a who's who all over the world. when it comes to requests, what is the one requested has been difficult to fulfill? the most challenging requests so far? fred: the ones that i recall that happened just a few years back was a very important royal wedding. it was two different countries. it was a marriage of royals. offer a custom design. we made a lot of different designs. design withicked a
over 200 carats. and -- 200.at's 200 fred: we had been going back-and-forth for several weeks. the only thing we need is to deliver in seven days. as you can imagine, it would take three or four months. we had to do the impossible. we had 15 of our top craftsmen work on the set. they worked for seven. in the end, we were able to deliver. haslinda: what set you apart? it's important that when you have your own factory you have the skills and the facilities to produce his pieces. from the time you designed the pieces and put them into production in two different
segments, you can produce and monitor the quality and ensure that quality control is in place. you can deliver the best piece of possible. haslinda: you are responsible for the diamond studded bras worn by victoria's secret models ranging from $2 million to $12 million each. jean: we are trying our best to expand our reputation in the market and trying to come up with things that are unusual, challenging, manufacturing you can maket studded with diamonds and colored stones. it's not as easy as people would think. we wanted to create something in collaboration with victoria's secret that was special. fred: it's about innovation and
creativity. my brother nurtured that relationship. we have done the broth for about eight years. we have become adept at understanding the requirements and pulling unique pieces that requires a particular skill. we like it. it's different. haslinda: talk to us about what people are after. jean: the latest that we have made will be show cast in singapore -- showcased in singapore. it has been flown in for the event. this is something we have been doing for the last seven or eight years. we are doing something special. this year, we will have some very exceptional pieces. bringing that in. to 15 carats.ng
that is something we are very looking forward to showcasing in october. when it comes to exceptional pieces and places to show around , we are constantly trying to come up with new things and produced some special pieces. haslinda: is that why you're showcasing your best pieces? that's a lot of money. report theappy to emerald necklace we have showcased in singapore before doing the jewelry show is called the esmeralda. it sold. there are people who are looking for very special items. i don't know if i should have said this or not. we are very happy.
there are constant requirements for very special pieces. it's not about money. haslinda: our diamonds in investment? fred: you may buy slightly higher. it depends where you buy it from. it might be a bit more challenging. if you buy an exceptional diamond and you buy from a reputable jeweler, it's likely fee over the long-term value is going to appreciate. we have seen that in colored diamonds. over time, prices have gone up. it is a scarce resource. there is a limited supply. there will be a demand for these exceptional diamonds. >> coming up. fred: we presented it he got interested. ♪
haslinda: i would like to talk about the historic collection. 200ave the jubilee which is carats. you have your own favorites. fred: my favorite is the 218 caret. haslinda: more than 200. diamond is 219 carats. the largest diamond in the world. haslinda: is this something that was presented to him? fred: we presented it and he got interested. the diamond spoke to him. haslinda: how about you? jean: there are many.
if i wanted to name one, it would be the splendor. it's because of the shape. it it's an 11 cited pear-shaped. a kite mixture between shape and a pear-shaped. it's 100 one carats. i've remember the first time i had the stone in my hand, i did not want to let go. it is so beautiful. importantwhy is it for the family to have a private collection? what is significant of that. fred: we buy in manufacture diamonds and cell phone. it's important for us to have a collection handy for our customers. it can happen at any point in time. when royalty calls us and says show me what you have in your inventory, we have to be ready. we have exceptional gemstones in our inventory.
one of them is a rupee that i am very fond of. it's magnificent and exceptional. it is 25 carats. enough.have i look at that whatever i have chance. it speaks to me. it's a beautiful gemstone. jean: it's exceptional. 125 years, where'd you go from here? jean: it's only the beginning. we should consider striving and getting to higher horizons. we can reach more countries worldwide. we are continuing with our perseverance to produce fine quality and to be able to bring affordable prices. that's an important shift in our strategy.
we used to carry a lot of swiss watches. we offered them to our clients. after my father handed over the organization, we wanted to become the brand. we wanted to offer our products. we have our own watches. we are investing in our own movement. we're manufacturing in-house and switzerland. we're launching the watches in in they are months all under our brand. you compete with the companies that are already established? fred: of course we can. we have a loyal customer base. our customers trust are in. they are open to getting different products it is that of coming to our store to buy other watch brands, they come and trust our own outline.
haslinda: you are both committed to the business. you outside the dimon world? what don't we know? jean: that's a good question. i would like to think that i am a civil person. friends.eing with i like being outdoors. i like to travel a lot. i like to experience new people. that's one of the things i really enjoy. i do jogging once in a while. it's the best time to think. there are a number of ideas you only get while you are jogging. haslinda: i'm guessing you're thinking about your next venture? fred: it's all about impact.
i really want to make an impact. i want to make the world around me a better place in i look at my sphere of influence and i try to improve around me. that includes me. i am very keen on education and self-development and i like to see continuous progress. it's about how we can move ahead and become better. how can we make a better impact on the world. that's what drives me. haslinda: gentlemen, it's been such a pleasure having you on "high flyers." .hank you ♪
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