Co-founders and managing directors talk engagement rings and diamonds.
The past year has been a case of game, set and match for 77 Diamonds’ co-founders and managing directors Tobias Kormind and Vadim Weinig.
Their game is that of selling diamond jewellery online, the set relates to the boom in pieces they are creating in their Central London atelier. And the match? The number of engagement and wedding rings they are asked to create for happy couples.
Recalling the past 12 months, Tobias says: “Our biggest achievement has been our ability to continue to improve our jewellery manufacturing, upholding the highest standards of craftsmanship. We have done this despite the significant margin pressure from selling at wholesale pricing.”
The offer of diamond jewellery presented by 77 Diamonds varies from classic solitaires to vintage-style engagement rings. In recent months, the business has expanded into ready-to-wear diamond lines, including dainty diamond-set safety pin, peace sign and daisy pendants.
“We have boosted our workshop team and invested further in microsetting technology,” Tobias adds. “I believe we now have the largest and most experienced workshop team of any European competitor.”
The company also offers loose diamonds, and is able to source very special stones for its customers’ needs. And some of those needs are out-of-this-world.
“We had an order to create a 150ct set of matching and calibrated cushion-cut diamonds for a necklace, earrings and bracelet in less than three weeks, with stones ranging in size from 0.50ct to 10ct,” Vadim recalls. “This was a near-impossible task but we managed to pull it off and the client was over the moon.”
Looking ahead, the duo will continue to focus on building the 77 Diamonds brand, stating that high-quality product and service will always be at the top of their agenda. “We are also looking to expand internationally, as well as consolidating our position in the UK and potentially increasing our product range slowly but surely,” Vadim reveals.
Both men agree that, when it comes to launching a business, you must find your niche in the sector. “Find an angle that you are passionate about and proud to be working on,” says Vadim, as Tobias adds: “Don’t just do it for the money. Make sure it is something you are truly passionate about and persevere until you succeed. Never stand still and never get complacent.”
Tobias Kormind and Vadim Weinig were named IJL Retail Stars in the Professional Jeweller Hot 100 2014, in association with headline sponsor Pandora and principle partner The Company of Master Jewellers.
To read a digital version of the Hot 100 2014 book in full online, click here.