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Profile: Leibish Polnauer

May 31, 2013 2:26 AM   By Rapaport News
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RAPAPORT... Leibish & Co. is the leading source for natural colored diamonds and jewelry. The world’s finest jewelry designers and manufacturers rely on Leibish & Co. for diamonds that fire their imagination and inspire their creations.

Name:Leibish Polnauer
From: Israel
Company: Leibish & Co., President

1. What prompted you to pursue career in the diamond and jewelry industry?

I worked as a television director in Germany and upon moving to Israel, I was trying to find a way to earn a living and wanted to learn the diamond trade. At first I wanted to learn how to be a diamond cleaver. After that I went on to work as a polisher, then as a manager of a factory and in a few other positions in the industry.

2. Do you have a business philosophy that guides you in your work?

“Under promise and over deliver.” Because we are a very virtual brand, customers only see the product after they’ve purchased it and it is delivered. We under promise the value and beauty of a product because we want our customers to feel that the product exceeded their expectations once they receive it.

3. What has been the most notable change in the diamond and jewelry industry over the course of your career?

The establishment of a much shorter chain- the consolidation of the industry and the elimination of the entire middle level of brokers.

4. If you could make any change to the industry, what would it be?

I would ensure that there are more relations and connection between the diamond industry and the fashion industry. Additionally, I would make sure that only final products are sold because a final product is more appealing for the customer.

5. What is the toughest professional challenge that you have faced?

In 1980, it became clear to me that India will eventually dominate the manufacturing aspect of the industry. Another was the recession that began in 2008. It teaches us that we have to be prepared for the unexpected.

6. What do you consider to be your greatest professional accomplishment?

The fact that we are known as a leading global player on the internet. Back in 1990 I realized that the internet would dominate the market in terms of sales and I started our website in the same year.

7. What role does innovation play in ensuring that your company remains relevant?

Innovation is the only way to remain a relevant player in your field. You have to constantly come up with new strategies so that you don’t fall behind and end up copying others.

8. What differentiates your company from others?

We are very focused on fancy color diamonds and are known globally as a leader in a very specific product range.

9. What advice would you give to someone starting out in the diamond and jewelry sector?

It is not a business for the faint of heart.

10. How do you envision your business 10 years from now?

I hope that we are virtually reachable and available from every corner of the world for anyone looking for something related to our products. Also, I see our virtual brand extending to other products, mainly in jewelry and luxury and incorporating precious stones as well.
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