Masina Diamonds has been in business for 40 years. Under the leadership of Rustin Yasavolian, the chief executive officer, the store has witnessed immense popularity with its products. Masina Diamonds aims to create unique fine jewelry pieces while educating clients so they can appreciate their jewelry collections for a lifetime. The largest part of its business is creating engagement rings for future grooms and brides. The fine jewelry store also specializes in custom-designed pieces that are created in-house and luxury watches.
Knowing the business inside and out
Rustin was born into the fine jewelry industry; his family has been in this business for more than four decades. He worked for the family firm during his free time while attending college, which helped him gain a solid understanding of the fine jewelry sector. Most of his values, including how they handle customers and the quality of their work, were instilled in him by his parents. “I’ve also learned a plethora from some of the jewelry giants like Cartier. The biography on their story highlights the importance of creating quality work,” he mentions. “My parents have shown me that if you do honest work with the best intentions, you can create a successful business that can be passed on for generations.“
Rustin originally joined the family business because he understood his desire to work for himself. At the time, he thought he wasn’t extremely passionate about jewelry, but as he grew with the company, his love for the industry grew. He has realized that to be a titan in any industry, a person has to have in-depth knowledge of the industry itself. This builds trust and reputation among clients and industry leaders. “Because of this, I spent most of my early 20s learning from some of the best bench jewelers and designers in Atlanta. I also received multiple certifications from the Gemmological Institute of America,” he continues. By keeping clients happy and providing exceptional customer service, the company has been named the best jewelry store by Jezebel Magazine for 2023, has received the Wedding Wire Couple Choice Award three years in a row, and has been featured in Brides Magazine.
The purpose behind Masina Diamonds is to create unique jewelry with the highest quality materials. “Much of our growth has been because of reviews and being voted one of the best jewelry stores in Atlanta,” says Rustin. He shares that the biggest problem in the jewelry industry is that it is such a lucrative industry and most people don’t know much about it. Hence, he aims to help educate clients on what they are buying and what to look out for. The company welcomes all couples, regardless of their sexual orientation, and helps them start the next chapter of their lives. Additionally, the business is making every effort to move the process online in order to minimize its carbon footprint. Additionally, it works closely with the Atlanta Fire Department to aid and sponsor their efforts to keep the neighborhood safe.
He further explains that the company’s business model has become more heavily reliant on e-commerce and internet visibility. Even though physical location is always vital, he now understands that online real estate is equally crucial. The majority of consumers “Google” a product or service before buying it and read reviews of the manufacturer and the item itself. “User content like reviews goes a very long way,” he adds. This is especially important when one is looking at higher-ticket items like diamonds. “Again, I think most of our growth is due to providing a great product with exceptional customer service,” he continues.
In addition to that, Rustin has always been an outdoor person, which has helped him develop traits that are advantageous to business. “My passion for exercising actually drew me into bodybuilding for a while, which I am very thankful for,” he adds. It taught him discipline and taught him that anything can be achieved if you work hard, love what you do, and focus on your goal. He also enjoys playing chess, which has helped him develop his decision-making skills and ability to accept defeat gracefully and see it as a teaching moment.
Beating competition
There is a pretty high level of competition in the jewelry space in Atlanta. One of the biggest competitors are some of the giant jewelry chains like Signet, which owns Bluenile, Zales, and Kays. They are fantastic marketers and spend a lot of money on marketing. Rustin thinks one of their biggest weaknesses is in client relations, customer service, and retail staff with in-depth knowledge of the fine jewelry industry. “This comes with the territory of larger retail corporations,” he adds. His strategy is to continue providing an intimate family experience with his services. The company’s clients have Rustin and his team’s phone numbers and can text them any time of day. “I feel like that is something a person wants when dealing with luxury items,” he says. His goal is not to have 200 stores across the country but to have 4–5 boutiques to be able to keep the same quality of service. “We as a company are paying more attention to inventory and what our clients are asking for,” adds Rustin.
Moreover, he mentions that “social media is a very large part of the fine jewelry industry.” Jewelry is all about aesthetics, and these social platforms highlight details with pictures and videos. They help provide clients and future clients with ideas and inspiration for what they want. Masina Diamonds leverages social media by posting educational videos and pictures. “We want clients to be educated about what they are purchasing. The more they know, the easier our jobs are,” Rustin adds.
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"We want clients to be educated about what they are purchasing. The more they know, the easier our jobs are."
Staying on top of trends
Rustin highlights that one of the most interesting things that have come into play in the fine jewelry industry recently has been lab-grown diamonds. These are diamonds that are manufactured in a laboratory rather than mined out of the ground. Lab-grown diamonds are a fraction of the price of natural diamonds, but they do not hold the same value as natural diamonds. This is because there are a finite number of natural diamonds in the earth. Further, he states that a lot of brides are now opting for lab-grown diamonds because they are more environmentally friendly. “Not to mention they can get much larger stones for a fraction of the price,” he adds.
On the other hand, with luxury watches, the market has come down from its astronomical peak in the year 2022. Luxury watches are still hard to come by from authorized dealers, so the price of certain model watches on the secondary market is still selling for a premium over MSRP. He emphasizes, “I don’t see the desire or hype around luxury watches coming down anytime soon, but as the economic conditions begin to slow, certain models may slowly become more readily available and the price may begin to stabilize.”
Giving an intimate client experience
According to Rustin, his customers are the reason the business is successful and is regarded as one of the top jewelry stores in the area; therefore, he and his staff owe them nothing but the best. He is excited to start looking for new retail locations in the future and possibly expand outside of Atlanta. He is also investing heavily in social media and websites to boost e-commerce traffic and digitally create a name in the market. Rustin believes that social media and trade shows are great ways to keep up with new trends in the industry. Tradeshows also give him the opportunity to network with other businesspeople from across the world in the industry. There aren’t any particular resources he harnesses over others, but in this industry, it is always good to keep up with celebrities. Their engagement rings can sometimes dictate trends for what the general public may ask for. “In regards to luxury watches, there are some great YouTube personalities that a person can watch to get more knowledge on the industry and specific watches,” says Rustin.
Currently, Rustin’s company is working on the most recent projects of one of his close friends and clients, Ozzie Albies. He is the second baseman for the Braves and recently hit his 100th homerun in the league. He is creating something beautiful to commemorate that huge accomplishment.
Leading with compassion
Rustin hopes that his legacy will be remembered as one who strived to achieve his objectives while showing compassion and love for others. Because he thinks everyone can learn something from others and because he likes sharing his knowledge, he continually tries to develop a truly personal and unique relationship with every customer he has met. He wants to be remembered for his efforts to improve the lives of others in all facets of life. His legacy should include being a great employer and leader as well as a brilliant jeweler in order to create jobs and teach others what he has learned. The success of his company allows him to become a pillar of the community by opening up opportunities for others.
