The HRD, or Antwerp diamond council, is the largest diamond certification laboratory in Europe, and Pinchasi is a large client of this laboratory. Pinchasi’s Belgium office serves as a clearing-house for all the rough diamonds that they buy and trade. The company always carries a large, centralised stock of cut, polished and certified diamonds which are immediately available in Antwerp, and can be shipped within 24 hours to any destination in the world. This swift response time is vitally important in the fast-moving diamond market. It’s all done with a small and flexible team of just 12 people in the Antwerp office, who deal with sales and operations, including the sorting, preparation and certification of the stones.

The company was named after its founder, Mr Pinchasi, and his two sons took over the leadership after his death. The Pinchasi sons have introduced new innovations and developments, including a massive new diamond cutting operation in India, which was opened seven years ago and is ten times as big as the Antwerp factory. The large quantities of medium sized stones are cut and polished in India, while the bigger, more complex stones are handled in Antwerp.

Since the opening of the Indian factory, turnover has doubled. Pinchasi also does business online - orders can be taken, certification can be consulted, and stones can be assessed online via their certification. The company’s market is mainly in Europe and Asia, although sales are also made in Australia and the Americas. 70% of clients are jewellery manufacturers, and the others are wholesalers.

The company has enjoyed a 30 year relationship with many of its customers. Quality is the benchmark when dealing with a high value commodity like diamonds. Diamond cutting is a specialised profession that requires years of experience, and mistakes simply cannot be made. If quality is not upheld in all processes, then a poor cut can ruin a promising stone, or certification can become difficult to obtain.

At Pinchasi, standards are adhered to rigidly, both in Antwerp and in the operation in India. The company’s service excellence also gives it a valuable edge in the industry. Finally, maximum efficiency is the key to Pinchasi’s success, giving it a 2-3% price differential in this fiercely competitive market. It is surprising that, in an industry where valuable stones worth millions of dollars are traded every day, most business is done on a simple handshake, without any contracts or insurance. For this reason, trust is key, and only companies who nurture relationships with their clients and operate with the highest standards of integrity, quality, service, advice and deal making, will survive.

Pinchasi is an outstanding example of such a company. Although the salespeople do regular business with their long-established clientele, they will usually meet them only once a year, either in Antwerp or at the trade fair which takes place annually in Basel, Switzerland - the largest expo in the world for the diamond and jewellery industry. Pinchasi believes that Antwerp will remain the diamond centre of the world, despite competition from low-cost operations in other countries. Antwerp is a city well adapted to the multicultural world of diamond dealing where many different nationalities rub shoulders with each other. The diamond area is centralised and accessible, and security is excellent. Most significantly, Antwerp has a history of diamond cutting and dealing that stretches back hundreds of years. When all is said and done, diamonds are a people business, and this diamond culture cannot be easily replicated elsewhere.