The Australian jewellery and diamond market is a highly competitive one. That is the reason it has been on the decline for the past couple of years. The average industry growth from 2014–2019 was -2.5% (don’t miss out the negative sign). (Source: IBIS World).
However, despite these challenging times, Ron Bensimon managed to climb up the ladder of success in the online diamond business.
Who is Ron Bensimon?
Ron Bensimon, from Bensimon Online, is a gemologist and second-generation diamantaire who has seen trends evolve over his decades in the industry.
Collectively he has more than 30 years’ experience in the jewellery and diamond industry. His extensive networks in the global industry combined with his bold and unique approach have made him one of the most renowned personalities known till date in the trade.
He has pioneered a slew of new concepts (i.e. the world’s first diamond box) and today, he continues to push convention through his diamond atelier, Bensimon Diamonds.
Ron isn’t the first person in his family to be in this business. In fact, he developed the interest after seeing his parents work with diamond dealers and suppliers from around the world and visiting trade shows in all corners of the globe.
Ron was intrigued to see that even though his parents did not have a huge business, the diamonds produced by them fascinated people from all around the globe.
Taking inspiration from his parents, Ron went on to complete the esteemed Diamond Grading Course from Gemological Institute of America (GIA) Here, he gained his comprehensive understanding about diamonds and today, is highly regarded for his expert eye for not only selecting a stone and understanding its technical grading, but also its monetary value.
His creative eye for design, combined with his understanding of jewellery craftsmanship, has enabled him to produce some of the world’s most coveted pieces in the world. His masterpieces are a hot product not only among the general public but have grabbed the eyeball of famous celebrities all around the world.
The journey towards Bensimon Diamonds
Ron grew up in the jewellery trade working in the family retail business In Melbourne, Australia. This continued until he later launched his own brand, Bensimon Diamonds, the first online diamond business in Australia in 2011.
Ron Bensimon craves for diamonds didn’t stop here. He went on to open a jewellery boutique in 2015 in the luxury retail complex of Crown Resorts in Melbourne. The jewellery boutique grew exponentially and became the top-performing store in its first year (ahead of Cartier, Bulgari and Graff).
The boutique featured unique handcrafted diamond necklaces, bracelets, collars, bracelets, and rings Ron had designed and produced with jewellers from all over the world. Ron returned to the online space with Bensimon Online, after the closure of the store, which was a result of a business partnership failure.
However, the failure did not stop Ron Bensimon from taking the diamond business to new heights.
Due to his extensive experience in the industry, Ron had an eye for detail and was very quick in analyzing the environment and figuring out the loopholes. He figured out that despite there being a slew of diamond sellers, far too many women did not like their engagement ring.
Even though the spouse was highly familiar with each other’s sense of taste, men mostly failed to impress their fiancee with their engagement ring choice. This came as a surprise to Ron as there were unlimited ring options. The problem was the aha moment.
Ron realised that the problem was not the lack of options in the market, it was the lack of having a customised ring.
“Women and men today, are seeking something different from traditional engagement ring styles, there’s a strong sense of individuality and personal style developing and as a jeweller, it presents a new and interesting era in what is an industry steeped in tradition,” Ron said
This is where the rise of Bensimon just began.
The growth of Bensimon Diamonds
Discovering this loophole in the market, Ron Bensimon went on to create a solution, which would allow a person to just buy the diamond and after proposing, his partner could have input into the design process. Not only would she have a ring she actually wants, but the ring has more sentimental meaning to the couple when they co-create it together.
This act of co-creating the ring from scratch with the customers was what lead to booming sales. Bensimon Diamonds soon became the talk of the town.
Today, the company proves to be a popular online diamond and engagement ring e-tailer, servicing clients all around the world with its popular designs created by Ron Bensimon.
The business operates like a private engagement ring concierge service, where clients have an opportunity to speak to a Diamond Specialist who can provide guidance and advice in the often-overwhelming process of buying a diamond.
This one to one interaction leads to the creation of a perfect ring.
The Bensimon Online Team
Running a successful business is not a one-man game. Even though the role of Ron Bensimon has been pivotal in building Bensimon Diamond as an authority in the diamond industry, the efforts of his team cannot be undermined.
The Bensimon Online Team is a group of highly experienced diamond specialist. Their job is to provide top diamond recommendations to clients within their budget. That is possible because of the 100,000s of suppliers they can access from around the world and that too online.
This means their clients are getting the best possible stone within their budget at any one particular time. Whatever is the requirement, the team will always have something to put the clients in awe.
Even though he is the owner of the business and as such has a lot of other responsibilities on his shoulder, Ron Bensimon never fails to take out time to personally interact with clients to meet their specific diamond brief.
He does so by using their knowledge and understanding of diamonds to, in some cases forgo certain elements of the stone to help increase the desired ones such as colour and carat size.
Remember, it is a co-creation process.
How Ron makes Bensimon Diamond different from others?
We have already discussed how customisation of rings is what people love about the company. On top of that, the decades of experience of Ron and his experienced team allows the company to provide unparalleled customer support. However, there is more to what makes Bensimon Diamond a go-to place for all kinds of jewellery shopping.
Bensimon engagement rings have grown to become some of the most desired rings in the online space, in part due to the use of social media, which allows the business to go viral. The Bensimon Online team have had the pleasure of working with a number of celebrities in Australia and around the world, which created a positive word of mouth and made the rings viral.
Additionally, being online meant Bensimon Diamonds had minimal overheads. This allowed Ron to offer highly competitive pricing of the diamonds, which would far surpass what any bricks and mortar retailer could offer, making it an attractive offer locally in Australia and overseas.
With the online business, Bensimon Diamonds did extremely well by leveraging the proposition of proposing with ‘just the diamond’. It encouraged couples to design and make the ring together after the proposal to ensure the recipient would absolutely love the ring.
Not to forget the fact that Bensimon Diamond works with hundreds of suppliers from all around the world. That means whatever requirements the customers had, the company always had something to amaze them.
The architecturally designed store featured a premium aesthetic and attracted clients locally and from around the world. Here, Ron was able to extend his knowledge of engagement rings into beautiful, high-quality jewellery pieces.
This success story of Ron Bensimon inspires the world to collect natural diamonds from his collections which are world-class natural diamonds.