When Nicole Black would show friends and colleagues the jewelry her husband Kenyatta had custom-designed, they would ask if he could create a piece for them as well. That turned out to be the catalyst for Philadelphia Diamond Company — the store the couple started in the Pennsylvania city in 2002 after several successful design events in their home.
By the time they opened a second location this year — in Atlanta, Georgia, under the name Atlanta Diamond Company — they had perfected the custom-design business model.
“We started out one block from Philadelphia’s Jeweler’s Row as a typical jewelry store, but with a different approach,” explains Kenyatta, a second-generation jeweler.
Location was critical, according to Nicole, a former marketer with an MBA: “We wanted to be close to ‘The Row’ but not on it, because we sought to distinguish ourselves as more of an appointment-only private jeweler rather than a storefront.”
They followed a similar formula in Atlanta; the studio is located in the suburb of Buckhead, close to an affluent shopping area. As an airport transit hub, Atlanta also offered the opportunity to expand their concierge-style service to people traveling in and out of the city.
Ahead of the trend
“From the beginning, our business was 50% customized work. It was our focus — even before the millennials wanted something unique,” says Nicole. But it was after the recession in 2008 that the Blacks adopted the appointment-only studio model and eliminated cases filled with bracelets, earrings and watches.
“You have to concentrate on your core,” points out Kenyatta, citing their emphasis on diamond and bridal jewelry.
The Blacks pride themselves on intensely personalized service, a critical element of the custom design process. “It begins with the appointment, where we discuss customer preferences and budget. When the customer comes to the studio, she doesn’t have to leave her seat; everything is brought to her,” says Kenyatta. Being the only customer in the store enhances the luxury experience as well.
Prices within reach
But luxury does not always mean expensive. With their tagline, “Stunningly affordable,” the Blacks counter any perception that custom designs are too high-priced.
“People are really surprised that we offer quality diamonds at prices that are not out of reach,” says Nicole. Custom bridal designs feature a center stone of 1.50 to 2 carats on average, but Kenyatta has seen the trend shift more toward 2 carats over the last two years. All the diamonds have certificates from the Gemological Institute of America (GIA), and Kenyatta owns a synthetics tester to ensure that the stones are natural, given all the lab-grown diamonds that he says are “flooding the market.”
Making their (trade)mark
In the continuing effort to expand their brand value, Kenyatta has introduced a trademarked cut, the Queen, which reflects more light than the traditional princess cut for maximum brilliance. He points out that the Queen, which is a little larger than the princess, fulfills the customer’s desire for a “bigger look” at the same price.
Technology has impacted both what the Blacks sell and how they sell it.
“If we were discussing our business in 2002, a lot of what we do now wouldn’t be possible without the internet or social media,” says Nicole. “Technology has enabled us to expand beyond the physical location of our stores and offer a concierge service to customers throughout the country.”
Her advice to independent retailers: “The secret and key to success is staying in the customer’s mind through stylish designs, an exceptional overall customer experience, and a dynamic marketing campaign that incorporates technology to touch as many people as possible.”
Image: Nicole & Kenyatta BlackArticle from the Rapaport Magazine - August 2018. To subscribe click here.