San Fernando Valley Business Journal

NEWSMAKERS
Ryan C. DeSales

Cohen: Diamond purchaser

With 33 years of experience in the diamond business, you might say Rick Cohen knows a thing or two when it comes to precious stones. The New York native has just assumed new duties as Director of Diamonds for Glendale-based Robbins Bros. and will oversee all direct diamond purchasing for the company.

"My responsibilities will include acting as senior diamond buyer. I will be traveling overseas with associate buyers to source the finest diamonds in the world for Robbins Bros.," Cohen said.

As a third generation diamantaire, Cohen feels right at home at the family-owned Robbins Bros., which operates seven freestanding store locations in Southern California alone "I was very impressed with the culture of the company and the people here," said Cohen. "(I've) never seen a more enthusiastic group."

Starting his career at M. Fabrikant & Sons, Inc. in New York - where he would go on to spend 27 years - Cohen came to Robbins Bros. in late August and currently splits his time between the Empire and the Golden states, "I was very impressed with Robbins Bros. growth plan for the future. . . (It) was very important in my decision to join the firm. I wanted to be associated with a company that was forward thinking," remarked Cohen of his decision.

In addition to his responsibilities with Robbins Bros., Cohen is also the vice president of the Diamond Manufacturers and Importers Association and holds the honor of acting on the gemological committee of the DMIA-GIA - which is the interface between the American diamond industry and the Gemological Institute of America.

But Cohen's new role at Robbins Bros. goes far beyond the procurement of gemstones. Robbins Bros. has been at the forefront of the industry in combating the proliferation of diamonds that come from conflict zones. Part of Cohen's role through his position with the DMIA and in his new post with Robbins Bros., is ensuring that all his company's diamonds - from the ground to the display case - never pass through, come from or are handled in anyway in a conflict zone. In other words, these diamonds are not used to fund wars.

"None of our stones have ever been involved in conflict zones. . it's critical to us (Robbins Bros.). Every country that's involved in the trading of diamonds must sign a certificate of warranty." Cohen said that in the year 2000, approximately 4 percent of diamonds on the market were from conflict zones. But through efforts of companies such as Robbins Bros. and the DMIA - which works closely with the UN - that number today is less than one percent, "Any percent is unacceptable. . .Robbins Bros. has been at the forefront of combating the flow of conflict diamonds."

Looking to the future, Cohen plans to settle permanently on the West Coast after his daughter goes off to college - although he will definitely remain both a Yankees and Giants fan.

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