Founder of Prominent Diamond Company Dies at Age 95

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

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.