Headlines

Founder of Prominent Diamond Company Dies at Age 95

He was known for a ‘rare combination of dignity, modesty and generosity.’

Published

5 years ago

May 13, 2019

INSTORE Staff

Yitzhak Arie (Leo) Schachter, founder of Leo Schachter Diamonds, has died at age 95.

He opened his company in New York in 1952, and it became “a diamond empire, engaged in all stages of the supply pipeline, from diamond manufacturing to jewelry setting,” according to a report posted by the Israel Diamond Institute.

Jimmy Degroot

Smith and DeGroot Release ‘A Vendor Perspective’ Podcast Episode

Jimmy Degroot

Video: Split Sales Require Effort

Jimmy Degroot

The Business of Jewelry Podcast Special Edition (Part 2)

Leo Schachter’s corporate website notes that the company operates in eight locations on five continents and employs over 1,000 people. The firm “became Israel’s leading diamond exporter for over three decades.”

The company has been a De Beers for 50 years. Today it is also an Alrosa sightholder.

“His rare combination of dignity, modesty and generosity serves as an inspiration for his family and friends and as a guiding light for the company that he founded and built,” Leo Schachter Diamonds said in a statement, according to Rapaport News.

Schachter passed away on May 9 and his funeral was held May 12.

Read more from the Israel Diamond Institute

Related Topics: Latest News Top obituary

INSTORE Staff

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

click to Comment(Comment)

Up Next

Actress Hilary Duff Shows Off Engagement Ring — Here’s What We Know

Don't Miss

5 Jewelry Distributors Hit With Penalties for Toxic Metals

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.”