Four Generations. One Passion.


1952

Leo Schachter, a second generation diamond polisher, opened the Beck & Schachter Company on 47th Street in New York City. The company developed a reputation for fine finish and by the 1960s they attracted the attention of quality seeking Japanese customers. As the Japanese market grew, the company’s business grew along with it.


1966

On November 7, 1966 Leo Schachter received an invitation from DeBeers to become a Sightholder. This entrée into the upper levels of the industry gave Leo Schachter consistent access to massive quantities of rough – allowing him to meet the growing needs of international retailers. A year later the company opened a sales office in Japan, which would be a very profitable market for the next 30 years.


1973

Leo Schachter brought two sons-in-law into the business – Eric Austein and Elliot Tannenbaum. They were joined a decade later by David Greenberg. Austein and Tannenbaum built strong ties with growing American retail chains who were also passing into a new generation. Introducing modern marketing techniques to an old-world business, they brought the company into a new era, operating on a scale that was rare until then in the diamond industry.


1981

The company expanded into the international arena by teaming up with the Namdar family of Milan. The combined company, Schachter & Namdar became a DTC sightholder in 1982.


1984

Schachter & Namdar received Israel’s Exporter of the Year Award, recognizing its undisputed position as Israel’s leading exporter of diamonds. By 1988 the company broke the $100 million mark, and reached the $500 million mark by 1998. The company was active in Europe, the Far East and Japan – adding to its massive operations in the US. The factory in Tel Aviv provided competitively priced smaller goods that complimented the larger sizes being polished in New York.


The 1990s

Manufacturing operations shifted away from New York and were concentrated in Israel, China, South Africa and Botswana. Manufacturing operations in China began in 1995. The Botswana factory was purchased in 1997 and grew to become the group’s second largest manufacturing center. The New York office focused on servicing the expanding US market – including mounted jewelry, sold by subsidiary Schachter Diamonds Complete.


1999

The Leo Diamond – a modified round brilliant designed at Leo Schachter – was launched as the company’s flagship brand. Distributed through the Sterling Group, the Leo Diamond became the world’s fastest growing diamond brand. This began at a time when DeBeers announced the Supplier of Choice Initiative, a reorganization of the industry that stimulated sightholders to look downstream at the retail market. When many other sightholders first began exploring marketing strategies, Leo Schachter was already bringing branded diamonds to the retail consumer.


2002

The company’s brand portfolio expanded with the development of store brands for several regional retail chains and the introduction of the Elexese Diamond, a brand focusing on superior make and precise proportions distributed through high-end independent jewelers. In 2005, custom designed diamond jewelry was added to the Elexese collection.


2004

The Schachter Namdar Group reorganized into three separate operations: Leo Schachter Diamonds , Moshe Namdar & Co and SN Asia. This move allowed each branch of the company to better serve its markets and to fulfill its long-range aspirations more effectively.


2005

A joint venture formed with William Goldberg, creators of the Ashoka Diamond, brought Leo Schachter into the top level of the couture diamond jewelry category.


2006

Leo Schachter opened sales offices in Dubai, in keeping with the company’s strategy of establishing a local presence in every important market.


2007

Leo Schachter formed a joint venture in Mumbai with Kama Jewellery, one of Asia’s leading manufacturers of diamond jewelry. This alliance solidified Leo Schachter’s role in the jewelry industry while providing an expanded market for Kama.


2008

Leo Schachter opened a loose diamond sales office in Mumbai’s growing diamond center.