Introducing Jamie Patel, founder of The Diamond Lab
meet JAMIE PATEL, FOUNDER OF THE DIAMOND LAB, London-based The Diamond Lab, the first Lab Diamond brand to open on Bond Street. The Diamond Lab is shaking up the traditional norms of the luxury industry by deeply understanding the demands of upcoming luxury consumers. THEY aim to cultivate a space that encourages significant dialogues on earth kind diamonds and the future of eco-luxury.
Can you tell us a bit about your background, and what led you to the jewellery industry?
Whilst I was studying design communication, I started working for Christian Dior Fine Jewellery and fell in love with Victoire De Castellane’s designs, and realised there was a whole world of fine jewellery I was yet to discover.
What are you enjoying most about this exciting business journey you’ve embarked on?
Seeing the store go from something I imagined into a tangible place has been really exciting. It took a lot of work, but it was all worth it for the final product.
Is The Diamond Lab aimed at a particular type of consumer? If so, who are they?
Our brand is for everyone and it is wonderful to see such a varied client base in all aspects. Our focus is to offer exceptional service to whoever walks through our doors, no matter the reason. We believe everyone deserves the luxury experience that for a long time has been unattainable for many.
The walls of your new store are adorned with Maddox Gallery artworks. How important are collaborations and partnerships to you, and why?
Very important, especially as we only collaborate with friends of the brand that understand our vision, morals and the value of working collectively to reach combined goals. Art has a way of conveying stories and our brand is all about storytelling so this was a natural collaboration, which our clients have loved seeing evolve.
You’ve just achieved a huge moment in your career, launching a physical space. Can you give us an idea of any other future plans or dreams?
We can’t give everything away, but we have some very exciting growth plans globally.
Which The Diamond Lab piece or collection do you resonate with most and why?
The Lab 100 collection, as it signifies the invisible threads that connect us all.
What advice might you give to someone looking to launch their own business?
Keep going through the hard times, if you really believe in what you are doing, it is worth all of the challenges you are facing. Don’t ever feel like you are going crazy, it is normal to feel that you are alone, but I believe everyone feels this. Be prepared to lose the life you had previously to your business, but be ready to embrace the beautiful new life that waits.
Who has been the biggest support throughout your career up to date?
My wonderful sister and co-founder, Ruby. She has been with me through life and business.
What would you say is the secret to success?
Being able to take a step back, change plans if you needed, and knowing its not going to be an easy ride. Also understanding things rarely go exactly to plan, so being adaptable to these changes without losing momentum is key.
WEALTH
Describe your relationship with money and personal finance in three words?
C’est la vie
How do you define wealth?
Wealth whispers - living a life that genuinely brings you joy no matter what that may be.
What money lessons did you learn when growing up? What would you have done differently?
Not to spend so much money on materialistic things, I wish I spent less on clothes. I guess I learnt the value of money. I wish I invested money from a young age, in stocks, property, things like that, I wasn’t around a mentor anyone to teach me this.
What has been the most helpful tool for you to learn about money?
I think having successful clients around me and seeing their relationships with money and their businesses has taught me a lot.
How do you organise and manage your own finances?
Honest answer: there is no organising right now, all my attention and focus is on the business finances and growing in that realm.
What is the best money decision you have made?
Investing into very rare watches, that gave me the opportunity to buy a property in Barcelona, which is rapidly growing in value.
What is your number one financial priority?
To look after my mother and the team around me.
How often do you talk about money with your friends?
Very rarely, money has never been a subject that has been the focus of our conversations. Also a lot of people don’t understand the financial fluctuations of being in a start up, so it can be hard to explain/seek advice.
Which area of finance do you wish you knew more about, and why?
I wish I knew more about investment funds, as it probably would have helped me raising funds for the business.
WELLNESS
Being a founder tends to be all consuming. How do you switch off?
This is very hard to do, however, I make time for myself most days, whether this be swimming, reading, taking a walk. It is very important to take that time for yourself.
Is there a particular place or person you turn to for inspiration?
A wonder through the royal academy of arts always inspires me as does the brilliant Tony Fadell.
Do you have a morning routine to set you up for a productive day?
I say a little affirmation for the day and pray it comes to me with ease and joy.
You’re surrounded by a brilliant team who must be a huge support. What do you look for when it comes to hiring, or working with others?
Common sense, and people who can work under pressure, most importantly people who can always find solutions even when they are up against the wall. It is so important to be surrounded by a team that are kind and have humility.
What are you currently reading and listening to?
I love a good word search and country music always brings me joy! I have also been reading “Phosphorescence” for inspiration for new jewellery design.
You’re probably in need of a holiday! Where is currently top of your list to visit?
Currently answering these from the sun in Ibiza, however my assistant Cameron has had to join so we can work and he can also make sure I take a break!
