Veteran US diamantaire Leo Schachter passes

Leo Schachter (1924), a prominent diamantaire and founder and owner of Leo Schachter Diamonds, passed away on May 11, 2019. He established Leo Schachter Diamonds in New York in 1952. The company became a global leader in the midstream, from diamond manufacturing to jewelry setting. The Israeli branch of the firm belonged to the country's top exporters since the early 1980s.

As second generation diamantaire, Leo Schachter entered the diamond polishing business when he was 18. After establishing his own company in 1952, Schachter received his first Sight from De Beers and in the 1970s, Leo Schachter Diamonds became the biggest diamond manufacturer in New York. Today, his company in New York employs 1,000 employees around the world. It has been a De Beers Sightholder for over 50 years, and an Alrosa Sightholder from 2016.

In 1981, the company entered into partnership with the Namdar family. Schachter & Namdar was awarded the Israeli Outstanding Exporter Award in 1984 and 1990. In 2004, both families dissolved the partnership. In 2007, Leo Schachter Diamonds entered into partnership with Kama Jewellery, and expanded into the jewellery business. 

Leo Schachter's funeral was held yesterday (May 12). The family is sitting Shiva at the home of the Tennenbaum family, 57 Ahi Dakar St., Ra'anana.

(Source: IDE)