Stationed in the heart of the Big Apple and towing over the bustling crowds of 57th St and Park Avenue, the headquarters of the iconic jewelry retailer, Jacob & Co, sees a shift in management. 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 around the globe for its consistent inventory of innovative luxurious watches. From marketing towards the travelers with the 2006 "Five-Time Watch" to the most recent releases of its macabre Astronomia Skull, Jacob & Co stands as a pioneer in watchmaking.
Pressure weighs heavy on the 28-year old former consultant's shoulders as he dons the responsibilities of overseeing his father's empire. Though, Arabov is sure the expertise that brought him to his position will keep him afloat.
"I’ve been learning from my father’s entrepreneurial mentality my whole life," he tells Forbes, "now I get to continue doing that every day, working side by side with him in the business."
As his position began immediately after its announcement, Arabov states that his primary goal is to bring the company further into the digital world. He explains to Forbes that an engaging presence on social media platforms like Instagram and TikTok allocates to, "annual year-on-year growth in sales of 20% to 30% for the past four years."
"We want the world to discover the creative genius of my father," he tells Forbes, "there is no better way in today’s world to showcase that creativity than on social media.”
Before dominating the jewelry game, his father paid his dues as a truly self-made man. At the young age of 14, the now millionaire left his home of Uzbekistan to come to America. There, he dropped out of high school and begin an apprenticeship with an already established jeweler. Soon after learning the ropes of the business, Arabo founded Jacob & Co in 1986.
His presence as the premier jeweler for some of hip hop's biggest names granted him the highest of acclaim and the title, "Jacob the Jeweler". As if Slick Rick's diamond-studded eye patch wasn't iconic enough, Arabo has been the sole force behind some of the sickest pieces adorned by rap legends. From Jay-Z to 50 Cent, the countless number of celebrities rocking Jacob & Co has put them in the forefront of the bling game.
With Arabo living the lavish life in a lush 432 Park Avenue apartment (worth a whopping $16.68 million) and Arabov starting up a $6 million education firm, this father/son duo is on top of the world.
Sources: Forbes, Vanity Fair, Business Insider, The Observer