Were from Israel and were the top in our field. Its hugely satisfying

“We’re from Israel, and we’re the top in our field. It’s hugely satisfying”

We visited Ori Fluk at YDI, a company that specializes in small diamonds.

YDI is a pioneer in the Israeli diamond industry. It was established in 1946 by Zorach Fluk, who immigrated to Israel from Lithuania as part of a Zionist immigration wave. He specialized in diamonds and established a polishing factory that became one of the top in the industry.

 

Since its establishment, YDI has been a family-run company. Over the years, its name and professionalism have made it an industry leader. Today, it is considered one of the world’s leading manufacturers and suppliers of small, fine-make diamonds to top global brands. YDI is a De Beers Sightholder and purchases its diamonds from other suppliers while adhering to ethical and responsible sourcing practices. YDI employs about 50 employees.

 

YDI is managed by CEO Ori Fluk, the third generation in the company and the grandson of the company’s founder. “We’re a family company with a history of over 75 years,” says CEO Ori Fluk. “YDI was formally established in 2009. Until then, my father Abraham Fluk had another partner. I’m the third generation in the industry, and now my daughter Sarah also works with us – the fourth generation in the business.”

 

What sets your company apart?

 

“We work with small diamonds, which makes us unique in Israel. Our main specialty is diamonds up to 1 carat in weight for the jewelry industry, which is pretty rare in the Israeli diamond landscape. While there were many small diamond companies in the past, most have switched to working with large diamonds. Today, we are one of a handful of companies specializing in small diamonds.”

 

As a large supplier to jewelry retail chains, YDI knows how to cater to jewelers. YDI staff package the sorted merchandise and diamond sets according to the jewelry piece they are designed to be set in. As Fluk explains, “There is a substantial number of jewelers that buy from us.”

 

YDI diamonds israel company
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How does technology factor into your work?

 

“In diamond manufacturing, new technologies are introduced all the time. It can be expensive, but without investing in technology, we’ll be going backward. We have to stay cutting edge to remain competitive. As we work with small diamonds and maintain a large stock, this requires complex logistics which we have to digitize to handle effectively.”

 

As a computer science graduate from Tel Aviv University, Fluk finds his knowledge helpful on the job: “I can easily work with software companies to explain our needs, and I also helped to develop the software we work with today, Barak, which is well-known in the industry.”

 

Does YDI take part in trade shows and exhibitions?

 

“Of course. Our clients are professionals in the field, and exhibitions give us the opportunity to create and nurture connections face-to-face. Unlike most diamond companies, we don’t measure success in sales during industry events since no one buys small diamonds there. People don’t examine each stone when they need to buy 100 carats of small diamonds. They examine samples and look into the company. For me, that is a ‘sale.’ Industry events also give us the chance to meet our existing clients.”

 

What do you expect for the industry in 2023?

 

“The year began with the removal of COVID restrictions in China, which has been closed for diamond business for the last three years. It’s a dramatic change. I hope that the opening of the gates and the fact that Chinese can now travel to Hong Kong and the rest of the world will offset the less than stellar year expected in the American market.”

 

What do you like about your job? What makes you happy?

 

“First and foremost, I am happy that we have 40 families who make their livelihood working in a field that everybody has written off in Israel. The diamond industry reinvents itself all the time, in Israel and abroad. Manufacturing is pretty much over, and we are predominantly traders. But new opportunities arise constantly. So I am proud that we are based in Israel and that we are one of the top small-diamond companies. There are only ten to 20 such companies, and we are one of them. It is hugely satisfying, and I hope it stays this way. The market is constantly growing, and we hope to grow with it.”

 

YDI diamonds israel company
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