Forbes placed him on its list of the richest men in India. He is president and CEO of Firestar Diamond, a jewelry brand that, since 2009, has been expanding across the planet. We are talking about the 45-year-old billionaire Nirav Modi, who in September of 2015 celebrated the opening of his first boutique in the United States, “Gold Coast”, located at 727 Madison Ave. in New York City.
The boutique houses some of the most coveted jewels in the world, finely crafted with unique gemstones, and each costing around US $2 million.
Nirav Modi stands out for his attention to quality, design, innovation and craftsmanship. Each piece is envisioned as an enduring treasure that will stand the test of time.
Modi’s expansion campaign started with the opening of the first store in 2014 in New Delhi. In 2015, he opened boutiques in Mumbai and Hong Kong. His goal is to have 100 stores in the main cities around the world by 2025.
Born into a family of jewelers, Modi grew up surrounded by precious stones. His family legacy is crucial to his reputation as one of the best producers of handmade jewelry using only the brightest gems. His grandfather owned a diamond company in the 1930s and 40s and left his capital to Modi’s father, Deepak Modi. Modi remembers—from his youth—that, at dinner time, the family often centered their conversation on the cut, color, clarity and carat of diamonds.
He started working in the business when he was 19 years old and studied with craftsmen jewelers who inspired him to create unique and different jewels. His creative journey began with the design of a pendant for his friend Mavji Bhai Patel, who later became the largest exporter of diamonds from India.
Modi is always in search of the world’s best and rarest diamonds. With the help of his younger brother, Neeshal, he began buying yellow diamonds from Sierra Leone, white stones from Russia and Armenia, and pink diamonds from Argyle in Australia. His masterful creations come up regularly at major auctions. During a 2010 Christie’s auction, the exquisite Golconda Lotus necklace commanded a price of $3,560,000.
In September of 2016, Modi stunned with a new collection at the Biennale des Antiquaires art and antiques fair in Paris.
This successful entrepreneur also funds a foundation that bears his name, awarding scholarships to socially and economically disadvantaged students. ■
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