The Gems Of Success – Jeremy Millul's Journey In The Jewelry Industry
Jeremy Millul is the Founder & President of Jeremy Millul, Inc., a multi-million-dollar jewelry business catering to high-end clients. In 2008, Mr. Jeremy Millul graduated with his B.S. in finance from Yeshiva University Sy Syms School of Business. He minored in real estate. He has traveled the world to build his vast network of high-net-worth clients and forge partnerships among the leaders of the jewelry industry. He connects his elite clientele with the best retailers at trade shows across the globe.
Jeremy Millul, President & Founder, Jeremy Millul, Inc.
How did you find yourself in the business of high-end jewelry?
In 2008, as I was finishing college with a major in finance, a family connection brought me into the periphery of the business. A close family friend was marrying a high-end jeweler, and I was exposed to the true art of well-crafted jewelry and the lucrative, promising career opportunities within the jewelry industry. I was so impressed by the trade and saw this as a better stepping stone into entrepreneurship than my original plan to pursue finance. The jewelry business is very niche, which appealed to me. I started by learning from this connection. We worked together for quite some time before I went out on my own. In 2015, I founded Jeremy Millul, Inc.
Why did you decide to start your own business?
After 7 years working with my original contact in the business, our working relationship came to an impasse, and I knew it was time to strike out on my own. I had my family to think of and this wealth of knowledge to pull from. To say it was challenging is an understatement, but it got me to really put my head in the game and focus on my goals and career trajectory. I went from working in jewelry and becoming a partner to being an entrepreneur with my own business in the jewelry industry, and that’s a big leap. I am thankful for those seven years of industry experience before striking out on my own.
What has been the biggest highlight of your career over the last five years?
Since opening my own business in 2015, I’ve sold some very important pieces, and I count that as a huge highlight in my overall career. Any time you pass the threshold of a previous sale price in the high-end gem space, it’s a huge accomplishment and a feeling that you’ve just advanced your career by leaps. I think I celebrated most when I sold the most expensive emerald piece of my career and then again, the most expensive ruby of my career. Meeting these new sales benchmarks truly advances my business and legitimizes all of the hard work I’ve put into building my own jewelry empire in a competitive market.
When have you faced failure in your career, and what did you learn from it?
The biggest lessons in my career stem from partnerships and managing the dynamics that come with different expectations and willingness to sell. Partnering in any endeavor is certainly a challenge, and in the jewelry space, the game is high stakes, but the players are traditional. A lot of the leaders in the industry are from an older generation and are very set in their ways. Change is hard and they are often unwilling to consider what is new or partner with younger, newer players. Understanding their point of view and empathizing with their experiences helped me maintain my composure, and I always try to never become upset at someone for holding an opposing view. Instead, I work hard to find common ground, to resonate with the key players and figure out a mutual path forward. Sometimes it’s a struggle, and sometimes it leads to something other than the result I want, but it’s a starting point, and it has served me well so far.
What motivates you to continue doing what you do?
Every time I have the satisfaction of seeing a piece through to completion, I can truly appreciate all of the hard work that has finally come together. In this industry, a good eye for design and color is key, and that skill set, paired with the right materials and craftsman, results in some stunning pieces that are truly works of art.
What is a strategy that helped you expand your business?
My philosophy is to take care of my clients—period. Working with integrity and relationship in mind, I always give clients the right price, not an overinflated figure. I leave room for everyone to make money and come back for more. I never let myself forget that my clients are the ones who have made me who I am today, and relationships with them are my biggest strength in growing my business.
Key Takeaways from Jeremy Millul
Where we begin is not always where we end up, and embracing opportunities as they come along can change the future in really positive, impactful ways.
There is value in even the hardest relationships and challenges as they help us move forward and make decisions we might not otherwise have made.
The client experience should always remain top of mind as it’s the driving force behind creating repeat clients, referrals, and a sustainable business that will meet its full potential.
About Jeremy Millul
Jeremy Millul graduated from New York’s Sy Syms School of Business at Yeshiva University with his B.S. in finance. He minored in real estate. In 2015, he founded Jeremy Millul Inc. and he remains the President. His innate knowledge of product development, negotiating with suppliers, and marketing for product-based businesses has helped him build businesses with multi-million-dollar annual revenues.
