At the age of 15, Matthew Gordie Stoller, from the small town of Lafayette, Louisiana, USA, began charting his way to success by convincing a jeweler to sell him a ring to win over a “girlfriend” in installments of $5 a week. However, the wealth of more than $1,000 million, which he would later achieve, did not come from his romantic side, but from a strategic vision.
Stoller began his career helping out at the store where he bought the ring, and soon got a part-time job where he learned how to polish jewelry, set rings, and set gemstones. This initial contact with the industry revealed his passion, and after a short period at university, he decided to abandon his studies to devote himself to the wholesale jewelry business, says Forbes.
Founded half a century ago, Stoller is now one of the largest jewelry suppliers in the United States, with 1,500 employees at its headquarters in Lafayette and factories in Mexico, Thailand and India. Its annual sales are about $800 million, and the company melts more than 90 kg of gold daily to meet the demands of more than 6,000 customers.
With an efficiency-focused approach, Stuller has revolutionized the way jewelry stores source their products, offering express delivery in partnership with FedEx and UPS. This model allows retailers to reduce their inventory and receive ordered items the next day.
Stuller also excels at customization, using 3D printing technology to create custom-made pieces, often for high-end clients, such as celebrities and athletes. In addition, the company has adapted to the growing popularity of synthetic diamonds, which currently represent 80% of its diamond sales.
The businessman remains true to his father's advice: “Never share your work with a partner, because you will always work harder than him.”
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