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Jacob & Co becomes a competitor of luxury watchmaking and jewelry, led by Jacob and Benjamin Arabo
Parked in the heart of the Big Apple and towing the bustling crowd of 57th street and avenue du Parc, the headquarters of iconic jewelry retailer, Jacob & Co, is seeing a change of direction. Jacob Arabo – better known as “Jacob the Jeweler” – ends his legendary reign as CEO of the company and passes it on to his son, Benjamin arabov. Jacob & Co is renowned the world over for its constant inventory of innovative luxury watches. From marketing to travelers with the 2006 “Five-Time Watch” to the most recent releases of its macabre astronomy skull, Jacob & Co is positioned as a pioneer in watchmaking.
The pressure is on the shoulders of the 28-year-old former consultant as he takes on the responsibilities of overseeing his father’s empire. However, Arabov is confident that the expertise that brought him to his post will keep him afloat.
“I’ve learned my dad’s entrepreneurial mentality all my life,” he told Forbes, “now I can keep doing it every day, working alongside him in the business. . “
As his post started immediately after his announcement, Arabov says his main goal is to take the company further into the digital world. He tells Forbes that an engaging presence on social media platforms like Instagram and TikTok translates to “20-30% annual sales growth over the past four years.”
“We want the world to find out about my father’s creative genius,” he told Forbes, “there’s no better way in today’s world to show that creativity than on networks. social. “
Before dominating the jewelry game, her father paid his membership fee like a true self-made man. At the age of 14, the now millionaire left his country of Uzbekistan to come to America. There, he dropped out of high school and began an apprenticeship with an already established jeweler. Shortly after learning the ropes, Arabo founded Jacob & Co in 1986.
His presence as the premier jeweler for some of the biggest names in hip hop has earned him the highest honor and the title of “Jacob the Jeweler”. As if Slick Rick’s diamond-studded eye patch weren’t iconic enough, Arabo has been the sole force behind some of the sickest pieces adorned by rap legends. Of Jay-Z at 50 Cent, the countless number of celebrities who rock Jacob & Co have put them at the forefront of the bling game.
With Arabo living the lavish life in lush surroundings Apartment 432 Park Avenue (worth $ 16.68 million) and Arabov starting a $ 6 million education company, this father / son duo is on top of the world.
Sources: Forbes, Vanity Show, Business intern, The observer
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