Nestled within a charming shopping village in Cranston, RI, Providence Diamond Co. is everything you want in a hometown jeweler—a family-run business that caters to a longstanding clientele, yet has a grasp on broader industry trends and the know-how to work with the next generation of jewelry consumers. For our interview, we chatted with Brandon Solomon, son-in-law to owners Peter and Marcia Pritsker, whose expertise in business operations and retail has served the family business well.
LL: Tell us how you came to be involved in jewelry? Did you always know you’d be a jeweler?
BS: No I did not always know I’d be a jeweler. I became involved about 4 years ago to assist my wife (Suzanne) and her brother with the generational shift from their parents. Originally I came on in a consultation role but it became evident that there was a more permanent need for this position. I have a background in business operations and retail so it was a perfect fit for the business and our family. The business was started in 1985 by my in-laws, Peter and Marcia Pritsker. Marcia and Peter currently reside in Palm Beach Gardens Florida. Previous to opening the store, Peter was a diamond merchant and worked with Fabricant as a sales representative. His Daughter Suzanne is in charge of marketing and buying. His son Daniel oversees all estate business and diamond buying.
LL: Tell us about your customer? What are their shopping patterns if any?
BS: Our customer is a more traditional base with an older demographic. Rhode Island is a blue collar state, and while the landscape is changing (and getting younger), it is still a conservative marketplace. Shopping patterns are primarily in line with key holidays for us (Christmas, Mother’s Day, Bridal Season). We notice a younger set trending who are buying brands and gold.
LL: What is your store’s experience with millennials? Are you working with many and, if so, how do their shopping styles/patterns differ from your more mature customers?
BS: Excellent. We cater to them and have a very strong digital presence. We make our local brand real and connected to the community which makes the millennial feel confident with us. In addition, they are willing to pay more for service. We have a full lounge in the store with drinks and espresso. Every client is greeted twice and offered refreshments. Every one. We also cater to the millennial bridal customer. We have them send their engagement photos and they do it. We then utilize those photos in local advertisements on billboards and magazines. It demonstrates a direct connection with the community and a personal connection with the client and our business. This brands us properly with millennials. You can see some of these at #PDBrides.
LL: What are you most excited about seeing/shopping for at LUXURY Privé?
BS: Non branded items that we can attach to our local brand.
LL: What are you most excited about seeing/shopping for in New York, time permitting?
LL: What are some of your favorite spots to hangout, eat, get a cocktail, un-wind, etc, in The Big Apple?
BS: Anywhere in the Lower West Side but my two favorites are the Baccarat Hotel and the Grand Havana Room.