K for class

Daniel Koren is one of New York's hottest diamond designers,  a third-generation jeweller whose designs are worn by the likes of Sigourney Weaver and Halle Berry. The founder of Daniel K jewellery tells Lorraine Chandler how he created a stunning necklace for his bride - then sold it!  

Daniel Koren tells me he watched  The Godfather on the plane from New York to Dubai. He says he identifies with the title role. 

I feel vaguely uneasy at the admission, wondering which aspect of Don Vito Corleone he likes. I'm particularly worried that if he doesn't like my article, I might wake up with a dead horse in my bed. 

He assuages my apprehension when he says that he identifies with the whole family business aspect of the legendary movie. Although he was brought up in  New York, Koren's parents are originally from Iran.

The eldest of six children, he's very aware of his responsibilities. While he began working for his father, his father now works with him and he has roped in all of his siblings too  at one stage or another. 

The founder of Daniel K (his diamond jewellery line), Koren  is tall and suave and seems capable of charming his way out of any situation. At 31, his well-dressed elegance is almost too perfect, while his ready smiles border on the suggestive. 

A tall physique and neatly tailored suit don't hide the evidence that he has enjoyed too much of the good life.

"I can speak 40 languages when it comes to food," he laughs, listing the myriad cuisines he loves, including Iranian, Italian and Indian. 

If he were a godfather, he wouldn't be too convincing, with his baby-faced complexion and pleasant, laid-back manner. He's more of a Matthew McConaughey than a Marlon Brando. Yet you have to wonder how such a nice guy can build up a diamond empire. 

And Daniel Koren truly is a success story. His Iranian parents met in Milan, where they both lived until they were married. His father was a designer and calligrapher while his mother, Judith, whose father worked in diamonds and trading, was a clothing designer and artist. 

Arriving in New York, Koren's father, Joseph, went to work with Judith's brothers Sam, Gabriel and Eli in the jewellery business. Two years later he and some partners started a new company, Nissko Jewellery. 

Just like a protagonist in a Hollywood blockbuster, the young Koren started working in the office at 8, sweeping the floor, shredding paper and operating the - apparently exciting - pedal-powered steam cleaner. 

But whereas his father's business sold 100,000 pieces of jewellery a month, his dream was to sell 100 pieces a month, each being a masterpiece of design with high quality diamonds.

When he finished high school, he decided to work for his uncles at Nili Gems for a year. Aged 17, he went on business trips to Hong Kong, Taipei and around the US. He used his youthfulness to his advantage by asking buyers to give him a break. 

"My uncle Sam was shocked at one of my first sales," he says. "He had  been trying to sell to one buyer without success for nearly 10 years,  but I somehow managed to gain (his) sympathy."

At 18, he started working for his father, who really put him through boot camp. His dad treated him so strictly the two didn't speak at home for six months and Koren was tempted to quit. But after five years on the job, he was managing about 180 people in production and had even set up a plant in the Dominican Republic.

The turning point came in 1996 when Koren got engaged. He decided to design a unique piece of jewellery for his wife - a necklace composed of 1,000 diamond and platinum elements. He paid a model-maker to work after-hours on the piece and he supervised the process every day.

When employees in his father's company realised the extent he was going to for the piece, there were rumours he was "off his rocker", says Koren.

"But when I pulled out the piece a week before the wedding, everyone's jaw dropped. It contained 700 diamonds, making up 30 carats. It was absolutely beautiful." 

When he saw everyone's reaction, Koren knew he had found his calling. His wife wore the magical piece on their wedding day, but they sold it straight afterwards - he insists she didn't mind. 

He went on to make and sell a second piece, now convinced that he could be successful. In 1998, he set up Daniel K diamond jewellery, which took the city by storm because it combined elegant craftsmanship with hot new designs. 

Set mostly in platinum, his work features a range of bridal and classic collections, with combinations of necklaces, bracelets, rings and earrings.

Predominantly using Asscher cut diamonds (which are squarish with cropped corners) or cushion cut (rounded squares or rectangles),  each of his pieces take six months on average to produce.

Koren designs everything himself and oversees the entire process with an almost fanatical attention to detail. He has also cleverly tapped into the right-hand  ring market, dreaming up with some avant-garde designs for women who  no longer want a traditional engagement ring. 

Koren is an artist, but before that he's a very shrewd businessman. His designs are available in 55 retail outlets in the US and about 15 in other countries around the world, including Australia, the UK and the Netherlands. He was recently in Dubai to launch Daniel K in Damas Les Exclusives stores. 

Given the price tag and stunning quality of the brand, there's no doubt  it's a good fit for the Dubai market. 

I
I respect everyone's culture and traditions. New York is a big melting pot. Recently, I even put on my green suit for the St Patrick's Day parade. 

I am very Middle Eastern. (There's  a strong sense of) tradition and  respect in my family. My family  is very close-knit and even though Daniel K is my company, I share an office with my father.  

I'm a big shopper, and I'm very excited about being in Dubai. 

I knew two things from a young age. I knew I would end up in the jewellery business and I knew I would get married early (I got married at 22). 

I was always an old soul. From the age  of about 13, I was hanging around with my 20-year-old cousins. I was tall and looked older. By the time I met my wife, I was tired of all the partying and was ready to settle down.  

I love being the eldest brother; it's part  of my identity to make sure everyone  is OK. Like in The Godfather, it's something that's passed on from generation to generation. It's great having that responsibility.  

I paid my own way from the age of about 13 or 14. I was entrepreneurial from  a young age. At one stage I used to miss a lot of days at school because I was busy ?wheeling and dealing' in watches.

Then I used to ticket tout. I would queue overnight to buy concert tickets and then sell them at a profit.  Certain things just make sense. 

One of the biggest problems now is that young people spend four years in university and come out not knowing what to do with their lives. 

I don't know anything (other than) the jewellery business. It's all I know and there's no turning back for me. 
 
I think I'm a good boss. I look at everyone as a peer and I introduce everyone as an associate. I really believe in focusing attention on details. I never say, "Oh, that's not important" and I don't let any piece go on sale unless I know all the details are perfect. 

I'm humble, even though  it seems a contradiction to say it. I think it's important to be discreet. I like to have nice things but for myself, not for show. I like nice clothes, watches and cars but I'm very (discerning in) my choices.  

Me 

Me and my wife:
Without my wife, Sepideh, Daniel K wouldn't exist because she's been patient enough to stand by my side. We first met at a party when I was  15 and she was 16. We were just friends for years and didn't date until I was 20, but I knew she was the type of person  I wanted to marry.

At 20, I had to sell myself to her though she wasn't convinced I was serious. But I convinced her and we got engaged when I was 21. When we got married in 1997, we had 1,000 guests - although we're from the same community, we have no relatives in common. I'm very relaxed and easy going; I don't get stressed.

Despite the tremendous work that went into the wedding, I said to my wife on the day, "I don't care if no one turns up. We're going to enjoy our wedding day."

We have three children now and she raises them, although she recently started working part-time in cardiac rehabilitation in Mt Sinai (Hospital).

She's an extremely grounded, wise person who sees things very clearly and has helped me mature a lot. I talk to her about every major decision I have to make and I've learned to trust her intuition. 

Me and my family's support:
As a child, I used to go into my father's office during the summer and do all sorts of odd jobs. My favourite job was putting my foot on the pedal of the steaming machine to clean jewellery. 

When I joined my father at 18, he was really tough on me. If I was even five minutes late, he would say, "If you're late one more time, you needn't bother coming back." Later he told me that if 30 people are five minutes late then you've lost 150 minutes of time and I realised the importance of punctuality.

Those first months were tough, and I was embarrassed by my dad's criticisms, but I learnt a lot from him. When I decided I wanted to start my own (business) my uncle Sam let me set up a small office in his (company's premises) to save operating costs. 

My father used to look in on me every day to check how I was doing. Six months later, he sold his shares in his own business, after more than  20 years, to come (and work) with me.

He's a firm believer in marketing and investment, so we put a lot of money into marketing and advertising. Because of that - and my family's name in the industry - I gained 10 years' worth of recognition in my first year of operation. 

(My father) came up with Daniel K as the name. We had thought of lots of ideas and then he just said, "Use your own name." It took longer deciding how to write the name. 

About six months after we started, my sister, Dalia, came to work for me. She was then 17. I talked her out of going to college.

Now she's 24 and a brand ambassador for Daniel K. She's the voice of the company as the head of customer service. Something always goes wrong in this world and Dalia can iron it out because she's so cheery.

We spent the first four years planting the seeds (of growth) so that we had between 15 and 20 major customers at the end of that period. In 2002, we entered into a supply agreement with DD Manufacturing (an Antwerp-based diamond business).

We were looking for a (high quality) manufacturer ? 
so it was a good match, and ensured consistency in (the quality of) our diamonds. It was the best move for our company and brought added value to our products.

In the last three or four years, we've seen the fruits of our work with some major expansion. We now have 20 people working in the office and 50 in production in New York. 

Me and the Daniel K brand:
In my first year of business, I travelled around the States a lot. (I focused on identifying retailers that sold other high quality products.) I love Patek Philippe watches: they are the ultimate watch, they have a great history and mechanism and are passed from generation to generation.

They're sold by a limited number of dealers and I decided that wherever they were, that's where I wanted my jewellery to be. I also looked up brands like Cartier and made a list of jewellers I wanted to work with.  

Myself 

What's the secret behind your success?
We have great marketing and PR in-house and we've created a great  buzz about our brand through strong relationships with (the press in the US). We deliver on time (to the press) and that's a reflection of what I believe in. My reputation is built on that reliability and honesty. 
 
Dubai is a long way from New York. What's the difference between New York women and Dubai women?
We met the Damas people at a jewellery show in Basel, Switzerland. I'm now realising that our target customer in Dubai is different (to those) in the US.  At home, a woman who wears my jewellery is probably aged between 35 and 50.

But here, because of the wealth available, she's probably younger. She's sophisticated, wealthy and able to make her own decisions - or else influence her husband. She's very discerning and appreciates quality.  

Your pieces are popular with some of the A-list women in Hollywood. Do you spend a lot of time schmoozing with the right people?
I don't do much schmoozing but we hold a lot of parties and special events with the media. So I do things to promote the Daniel K brand but I don't look for the limelight. I think if you're doing things right, people will come and look for you.  

What are your favourite parts of the world?
I've been to most states in the US and every continent in the world. I've just been to Alaska for business and loved it. The wilderness was so beautiful;  I'd love to take my kids there one day. 

I also love Shanghai, it's an exciting mix of the old and new, and Dubai reminds me of it somewhat. Other favourite spots are Hong Kong and Monaco. When I travel, I don't really go to see the sights. Instead, I like to take a walk on the streets and just interact with the people. 

Has the industry changed since you've been involved?
I don't think the art of jewellery making is what it used to be. A handcrafted jewellery piece once represented a man's life's work, or at least the fruits of some years (of) work.

But now it has become a product of price and delivery.  I want to go back to the original premises, without compromise. I think Dubai is a good market for my work because it uses top quality materials and because (here) it's not just the facade of a building that is beautiful ? the internal structure (is also magnificent).  

Is there any jewellery piece you dream of designing?
Not one particular piece, but I love to build complicated items. We just sold one in Monaco for $2 million (about Dh7.35 million). It had 109 painstakingly chosen, perfectly matched diamonds, making up 120 carats.

You need a lot of guts to make those types of pieces. They are so beautiful to look at that it almost hurts to sell them, but business is business.