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Tacori is making fine jewelry for the everyday millennial. The 50 year old, California bred company has been most known for its unique engagement and wedding ring collections as seen on the first eight seasons of The Bachelor franchise. Although Tacori had expanded their selection beyond diamond rings with high-end fashion jewelry, they most recently collaborated with Who What Wear to create an affordable line of fine jewelry. Tacori was named one of the top ten most favored jewelry brands by
affluent millennials alongside Tiffany & Co., Cartier, Bulgari, David Yurman and others, but Nadine Tacori, Design Director and COO of Tacori, wanted to give the average millennial the luxury of enjoying the brand beyond special occasions.
Tacori shares how she has modernized her family business to attract a younger generation of jewelry lovers.
Yola Robert: How have you taken your families long standing traditions with Tacori and implemented them into the business today?
Nadine Tacori: Family is the most important thing to us. We value the trust, respect, support and honesty that we build within our immediate family and extend those same values to all our team members. It is really important to us that our team feels like they are part of our family.
Robert: What are the most important aspects on entrepreneurship that your parents taught you?
Tacori: Always stay involved, always take calculated risks, and always make sure your team members feel like they are part of the family. Also, long term success doesn’t come easy, everything takes a tremendous amount of work.
Robert: For other entrepreneurs that are taking in a family business what advice do you have for them?
Tacori: Make sure to identify each family members strengths, weaknesses, interests and desires and position them in the current role for success. Also, don’t ever take any business issues you have outside of the office. Family should always trump work issues.
Robert: Tacori gained notoriety after appearing as the ring sponsor on The Bachelor for eight years. What benefits did the brand see after that boost?
Tacori: It elevated the brand in the eyes of the consumer. We went from being seen as a jewelry company to a jewelry brand.
Robert: The diamond market is highly competitive. What are the key differentiators that make Tacori stand out?
Tacori: What differentiates our product is our Tacori Crescent and that we are handcrafted in California. The iconic Tacori Crescent set with diamonds on the inner face of our rings are unique to Tacori and cannot be duplicated by anyone else.
Robert: You recently partnered with Who What Wear to target a new demographic of trendy millennials who want to wear fine jewelry at an affordable price. How has influencer marketing made an impact to the brand?
Tacori: For us, it’s always been about influencers, but certainly the platform and scale have changed. We’re always looking to partner with amazing women who are doing incredible things, and help them add just the right amount of sparkle to their day.
Robert: For the first time in over 40 years, Tacori has opened a store front pop-up at The Grove in Los Angeles. What have you learned during your first store front experience?
Tacori: It’s all about the voice of our clients. What is important to them, how they want to express themselves, etc. So the pop-up was an incredible experience for us to interact with our Tacori Girls IRL and learn from them.
Robert: What advice would you give your 21-year-old self?
Tacori: Trust your instincts more! You got this girl! Everyone else out there is just trying to figure it out, too.
Robert: What is one failure you have been able to turn into a success?
Tacori: For many years I thought I could be the only one to do my job the best and with no one else to help. I had such a problem delegating work out. Once I became a mother, it pretty much forced me to look outside for help and found out that with the right people on your team, they could actually do it well and in most cases better than me.
December 31, 2018 at 03:59PM
Forbes – Entrepreneurs