Moti Ferder from Lugano Diamonds on How to Build a Successful Diamond Business

Moti Ferder, Design Director at Lugano Diamonds, is one of the world’s most well-recognized names among savvy diamond and jewelry connoisseurs – growing his family diamond business in Antwerp to expand in Southern California and beyond.

Lugano Diamonds is best known for its unique custom designs, private salons and a strong commitment to social responsibility. The company controls all facets of jewelry production from origin to design and sales which allow Lugano Diamonds to provide the very best quality at a great value. In 2013, Robb Report honored Lugano Diamonds with a Best of the Best award for its use of zirconium in jewelry. Robb Report again recognized Lugano’s remarkable designs in 2014, featuring a trio of colorful necklaces comprised of rare gemstones in the publication’s coveted Ultimate Gift Guide.

Morti Ferder began his career with advanced gemological training and became an expert diamond cutter. The cut is important in fine-crafted diamond jewelry, and Ferder has elevated this skill to a fine art. He says that his ability to become a master at the diamond cutting skill has been one of the deciding factors in his success. “It all starts with the stone, then finding a pretty design—something that enhances the stone—and envisioning who the end-customer is going to be,” says Ferder, [a]t the end of the day, you have to translate the design to a customer who is going to like it.”

One of a Kind

Lugano Diamonds is best known for its search for the world’s most exotic and rarest gems. It may take years before a piece is completed, as collecting the correct color, size and shape take time, but for the company’s discerning collectors and clientele, the wait is always worth it. “Our customers take pride in wearing beautiful jewelry that is truly one-of-a-kind,” says Ferder. While many diamond buyers have heard of the 4 C’s when it comes to diamond buying, Cut, Color, Clarity, Carat (weight), it is easy to add the word “Complicated” – few people have the knowledge or expertise for what is one of the biggest purchases they will ever make. It is why going to a trusted and experienced jeweler is the best way to procure a masterpiece.

Tips and Takeaways from Moti Ferder’s Success

If we look at the factors that made Mori Ferder a success in the diamond industry, here are some takeaways that should be considered if you want to start your own successful diamond business.

1. Start with a specific skill – Ferder began as a diamond cutter. Diamond cutting is a highly specific skill that takes a lot of practice and relies on precision and a keen eye. He polished this skill (no pun intended) and over time, became an expert at this skill. This offers a unique insight to the process and the product.

2. Love of design – Ferder has an inherent love of design. The jewelry business is a business that relies on superior design and artistry to produce valuable pieces, as well as a commitment to outstanding customer service. If you study design and experiment with different new design ideas, it will help you always to have an innovative mind when you start designing your pieces for your valuable customers.

3. Determination and persistenceMoti Ferder credits his success to determination and persistence. He says that having a spirit of never giving up will help you through the rough times as you are refining and fine tuning your jewelry business.

4. Perfectionism – Moti Ferder states that he is a perfectionist. While this quality is not applicable (or even desirable) in every business, it is important in the diamond business where the artist aims for eternity and the individual purchasing the jewelry is not only buying for the present but for generations to follow. People want their diamonds to be something that is as close to perfection as possible. The finest diamonds are often described as flawless.

Finding Success

According to Moti Ferder, “we have been the diamond jeweler of choice for some of the most successful celebrities, athletes and executives. But I am always looking forward to my next sale. I am a perfectionist. It is probably why I love the business of diamonds were flawless is an attainable goal. We are most excited about perfecting our way of doing business.” You can experience this type of success in whatever industry you are in, providing you follow a path that focuses on quality, expertise, and service. Diamond sales can be extremely lucrative, but it is a highly competitive business. When it comes to diamonds and fine jewelry, discerning customers want the best.

The Future

A new generation of consumers from Asia, especially India and China, along with the United States are going to be a very important part of the growth story for the diamond industry over the next several years. Millennials are also able to access more information online than any previous generation, which means purchasers will be even more educated and informed than ever before. For jewelers like Moti Ferder, this is more of an opportunity than a challenge and the future looks very bright and shiny!