RAPAPORT... It’s an open secret: The Kwiat family has been conducting a love affair with diamonds for 102 years — and it’s showing no signs of cooling down.
Now in its fourth generation in the jewelry business, the Kwiat family took a major step in establishing the Kwiat brand with the public when it opened a 1,000-square-foot retail flagship on tony Madison Avenue in New York City in August 2008. Neighbors include fashion houses Hermès, Roberto Cavalli and J. Mendel, as well as jewelers David Yurman, Chopard, Leviev and Mauboussin.
Overseeing the store as chief financial officer (CFO) and representing the fourth generation is Greg Kwiat, who is well steeped in the history and romance of his family’s business. As he tells it, in the early part of the twentieth century, great-grandfather Sam Kwiat, a diamond trader by profession, immigrated to New York from his native Poland. In 1907, Sam opened a small shop on Canal Street, then the center of the diamond district in New York City. In addition to his loose diamond business, Sam became interested in vintage jewelry and began to reset diamonds for his clients.
In 1933, Sam’s son David joined the company and led the business in a different direction: manufacturing diamond jewelry, wedding bands in particular. He started with basic styles, eventually moving on to important pieces with bigger diamonds. During the 1950s, the company relocated to New York’s new uptown diamond district on 47th Street.
Creating a BrandFor decades, Kwiat was the jewelry industry’s best-kept secret, a manufacturer and wholesaler who was well known by the insiders in the industry for its expertise in cutting large diamonds, including a 126-carat piece of rough that yielded the 50-carat “Teardrop of Africa” for Harry Winston in 1965. The Kwiat name also was well known by dealers and retailers who sold Kwiat diamonds as their private-label brand. But it was not a familiar name to consumers and the general public.
That all began to change in the mid-1990s, when the company embarked on an ambitious branding initiative. It was a carefully orchestrated move, says Kwiat, and involved every aspect of the family’s business. Branding is an all-encompassing commitment, he says, that involves more than just putting a name on a plaque or throwing a lot of money around. To create its brand, the company concentrated on its core business, its history and its reputation for superior-quality diamond jewelry. Its slogan was “Simply Brilliant” and the identifying image was a diamond tiara.
The name of the company is the brand, and while there is, in fact, a Kwiat diamond, it is not a special cut with a specific number of facets. Instead, Kwiat diamonds are cut — many within the company’s own workshops — according to very strict parameters, based on Gemological Institute of America (GIA) standards. The goal always is to achieve maximum brilliance yet, at the same time, showcase the diamond’s size.
Generally speaking, Kwiat diamonds range in color from D to I with clarity of F to SI2. The brand uses all shapes and sizes, but is especially known for marquise and pear shapes, many of which are used in its high-fashion jewelry collection.
The retailer offers a wide range of styles and price levels, beginning with basics such as solitaires, pendants, line bracelets and pavé bangles; a Vintage Collection, with elements from Victorian and Edwardian periods; a modern bridal collection of diamond engagement, wedding and anniversary rings and finally, some notable one-of-a-kind creations. Prices begin around $1,500 to $2,000 for basics and climb into six or seven figures for black-tie or occasion pieces.
As part of its fashion-forward focus, Kwiat introduces themed collections of new jewelry designs every year. And the branding initiative also includes accessorizing many red-carpet celebrities in headline-grabbing diamond jewelry for award shows.
Notable JewelsOf special note is Kwiat’s Decades Collection, created in honor of the company’s 2007 centennial. It consists of ten one-of-a-kind designs, inspired by the jeweler’s archives, each representing a different decade in jewelry design, from a graceful Art Nouveau tiara in diamonds and platinum, sleek Art Deco designs and bold 1940s Retro shapes to oversized 1980s and 1990s designs in diamonds and yellow gold. There’s even a bold crystal and diamond necklace made of large, specially cut diamond baguettes inspired by the soaring peak of the Chrysler Building in New York City.
Owing to its illustrious history, one might assume that high-fashion jewelry is the order of the day at Kwiat’s coveted Madison Avenue address, but that is not necessarily the case. Bridal rings are an important part of the business, says Kwiat. Most diamond engagement rings begin around 1 carat in size with 2 carats being the most popular size. Despite the company’s history as a diamond dealer, Kwiat says he makes it a point to show finished rings, rather than loose diamonds. “Customers must appreciate they are buying a ring for emotional and romantic reasons,” he says. Every ring is custom-made for every stone, he explains, and all rings are made in platinum only. Diamonds come with GIA certificates.
The selling space, designed by Barteluce Architects and Associates, was created to complement the timeless elegance of Kwiat’s jewelry. Ceilings are 18 feet high and display cases are detailed with wood in the firm’s signature smoky blue color. A similarly colored blue awning protects shoppers from the elements at the front show windows, which are filled with selected pieces from the Decades Collection and other limited-edition designs.
Upon entering the store, one sees glittering showcases lining the two side walls. On the right are moderate-priced basics, such as solitaire earrings and pendants, line bracelets, diamond bangles and smaller necklaces. On the left are important diamond pieces, including some one-of-a-kind designs featuring rainbows of natural colored diamonds.
The back section of the store has a small seating area at the bridal counter, where couples can choose their wedding sets in a more intimate setting. Opposite the bridal area are selections from Kwiat’s themed collections, including its popular Vintage group. A private viewing room is located upstairs.
The goal was to make the store accessible and unintimidating, says Kwiat. “We have full windows so people can look inside. We created a browsable environment where people are encouraged to come in and look” with the idea that they might return later to buy.
Article from the Rapaport Magazine - March 2009. To subscribe click here.