Headlines

Family Feud: Two Cousins Run an Iconic Jewelry Business While Competing Against Each Other

Published

8 years ago

February 12, 2016

INSTORE Staff

It’s a complicated relationship.

Cousins Sid and Samir Kasliwal are the heirs to the Gem Palace, “India’s most glamorous jewelry business” that was started by their fathers and today has boutiques around the world, as New York Magazine writes. But despite being blood-related business partners, their working relationship is a complicated one that a longtime friend of the Kasliwal family described to NYM as “a movie, a soap opera, Bollywood.”

The article says each cousin has his own ideas about how to run the Gem Palace and “seem barely on speaking terms,” but that’s just one layer of their complex working dynamic. They also run competing jewelry shops in New York that were opened outside of the Gem Palace business. This prompts industry observers to wonder: Can the two co-owners successfully carry on their fathers’ legacies in spite of their dysfunctional relationship?

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”