The Canadian jewellery industry has been shaped by stories of resilience, creativity, and a relentless pursuit of excellence. Few exemplify this better than Sako Krikorian, whose career has spanned three decades, evolving from humble beginnings into the upper echelons of the luxury diamond jewellery market. As we celebrate his 30th anniversary in the business, it’s time to reflect on his journey from a young fashion enthusiast to an award-winning grand master in the Canadian jewellery community. His career arc also highlights the shifts in the global jewellery market, which has experienced explosive growth, new challenges, and constant evolution.
The Early Years
Sako Krikorian’s journey into the jewellery world didn’t start where one might expect. Before entering the jewellery business, Krikorian was deeply immersed in the fashion world, where he sold garments and honed his sense of style. This early experience in fashion played a pivotal role in shaping his eye for detail, trends, and the creative process. However, his first entrance into the jewellery industry was not glamorous—it was as a diamond polisher at Frank Craft, a well-established jewellery company. This role was a far cry from the artistic and design-driven career he would eventually build.
In the polishing room, Krikorian’s meticulous work stood out, but his inherent sense of style made an even stronger impression. The owner of Finecraft, Roger Gossland, quickly saw that Krikorian didn’t fit the typical mould of a polisher. “You do not look like a polisher,” Gossland famously told him. “You should go into sales. You are way too fashionable to be behind the bench.”
This simple, yet life-changing observation redirected Krikorian’s career path. He transitioned from polishing diamonds behind the scenes to the sales floor, where his background in fashion and his natural charisma allowed him to shine. This was the turning point that set the stage for his long and successful journey in our community, where he would eventually become a renowned figure in the world of luxury jewellery.
Hustling and Learning
Following Gossland’s advice, Sako Krikorian spent the next 15 years hustling at flea markets, selling cubic zirconia jewellery. It was during these formative years that Krikorian learned the ins and outs of the business, from sales tactics to customer preferences. Flea markets were crowded, fast-paced, and highly competitive, making them the perfect training ground for a future entrepreneur.
Krikorian quickly adapted, learning to stand out in an oversaturated market. His creativity, combined with a natural ability to connect with customers, helped him build a loyal following. However, as the market for cubic zirconia became increasingly competitive, Krikorian realized he needed to evolve if he wanted to remain relevant in the growing jewellery community.
The Rise of Coloured Stones
Krikorian’s turning point came when he shifted his focus from cubic zirconia to coloured stones. The market was seeing increased interest in gemstones like sapphires, rubies, and emeralds, which offered customers a more personalized and vibrant alternative to traditional jewellery. Recognizing this trend, Krikorian expanded his offerings to include coloured gems, which allowed him to stand out in an increasingly competitive landscape.
This strategic move not only differentiated him from other vendors, but it also helped Krikorian establish himself as a designer with a unique eye for combining colour and style. As consumer demand for bespoke and high-end jewellery continued to rise, Krikorian’s brand flourished, marking the first significant evolution in his career.
Entering the Trade Show Circuit
Krikorian’s success with coloured stones soon led him to a bigger stage—the international jewellery trade show circuit. Realizing that this platform could introduce him to a more sophisticated clientele, Krikorian decided to take the next bold step: transitioning into the real market with the big boy, selling diamond and diamond jewellery.
The decision to work with diamonds was a pivotal moment in Krikorian’s career. Diamonds had long been the epitome of luxury in our world, but entering this market required an entirely new set of skills, including precise craftsmanship, careful sourcing, and navigating the high expectations of affluent clients most importantly Krikirian started focusing on retail clients.
For Krikorian, the move into diamonds wasn’t just about stepping up his offerings; it was about redefining his brand as a luxury jeweller who could combine both creativity and craftsmanship to produce high-quality, bespoke pieces. This decision firmly placed Krikorian on the path to becoming a major player in the luxury jewellery market.
A Booming Industry
As Krikorian’s brand grew, the global jewellery market also began to experience significant changes. According to industry reports, the global jewellery market is expected to grow at a compound annual growth rate (CAGR) of 8.5%, reaching over $500 billion USD by 2030. Several factors contribute to this expansion, including the increasing demand for luxury goods in emerging markets, advancements in e-commerce, and a growing interest in personalized and sustainable jewellery.
In Canada, the jewellery market mirrors this global growth. The Canadian jewellery market was valued at approximately CAD 4.4 billion in 2022, and it continues to expand as consumer spending rises and demand for bespoke pieces grows.
For Krikorian, this period of industry growth offered significant opportunities—but also new challenges. As the Canadian market attracted more global luxury brands, independent jewellers like Krikorian had to find ways to stand out. His commitment to creativity and craftsmanship became his greatest asset, helping him stay ahead of the competition.
The Meeting That Changed Everything
Just as Sako Krikorian was beginning to establish himself in the diamond market, he encountered Michael Sapir, a dominant figure in the Canadian luxury jewellery sector. Sapir had an iron grip on the world of extreme luxury jewellery, a highly exclusive market that only a handful of individuals in Canada had access to. His influence was vast, and his clientele consisted of the country’s most elite and affluent individuals in both spectrums from retail to end-users, for whom jewellery wasn’t just a commodity—it was a statement of artistry, status, and unparalleled luxury. For those who wished to thrive in this high-end space, aligning with someone like Sapir was essential.
Sapir introduced Krikorian to this tightly controlled world, where every piece of jewellery was more than just a product—it was an experience, crafted to perfection with the rarest gems and materials. In this elite market, even the slightest flaw could damage a jeweller’s reputation, and Sapir’s clients expected nothing short of perfection. The stakes were incredibly high, with every piece demanded to be custom-made, intricate, and one-of-a-kind. The pressure to deliver not only stunning but technically impeccable designs was immense.
For Krikorian, this introduction was a turning point. The extreme luxury market was vastly different from his world of traditional jewellery wholesalers; it was driven by exclusivity, rarity, and the need to continually outdo the competition. More importantly, the pace of this market was relentless—one’s reputation was only as strong as their last creation. Success here meant constantly pushing the limits of both creativity and craftsmanship while balancing the logistical and financial risks of working with such high-value materials.
Krikorian realized that to not just stay relevant but to set himself apart in this elite circle, he needed to elevate his game. With Sapir’s mentorship, he gained insights into what it took to cater to the ultra-wealthy, understanding that excellence in creation was only part of the equation. It also involved mastering marketing, customer service, and branding at a level where no detail could be overlooked. Sapir’s expertise in the extreme luxury market pushed Krikorian to refine every aspect of his business, from sourcing the rarest gems to delivering an unmatched retail client experience.
This partnership didn’t just keep Krikorian relevant—it allowed him to tremendously set himself apart from his competitors. By mastering the art of extreme luxury, Sako Krikorian entered an exclusive echelon of jewellers whose work symbolized the pinnacle of craftsmanship and luxury in Canada, ensuring his legacy in the national and international jewellery world.
Challenges in the Luxury Jewellery Market
The world of extreme luxury jewellery offers immense opportunities, but it also comes with significant challenges. For Krikorian, adapting to the demands of this market required both artistic brilliance and sharp business acumen. Some of the key challenges that needed to be overcome:
Clients on both sides retail and end users demand the highest level of craftsmanship and service. Custom pieces often involve rare materials, intricate designs, and tight deadlines. Meeting these expectations requires a jeweller to blend technical expertise with creativity, and Krikorian excelled in balancing these demands. While dealing with high-value items like diamonds and coloured gemstones, Krikorian became keenly aware of the risks associated with transporting and displaying such valuable merchandise. Theft and fraud are constant threats in the industry and most in that segment, requiring robust security measures at every step of the process.
Of course, operating in the luxury sector involves significant financial risk. Sourcing rare gems and crafting intricate designs can be expensive, and jewellers must carefully manage these costs to maintain profitability. For Krikorian, this meant mastering both the creative and business sides of the industry.
Pushing the Limits
Despite these challenges, Krikorian embraced the world of luxury jewellery with vigour. His work became more elaborate, featuring rare diamonds, bold colour combinations, and one-of-a-kind settings that captured the attention of elite clientele. Krikorian also focused on innovation, consistently seeking new materials, techniques, and design concepts to keep his brand fresh and exciting combined with his willingness to push boundaries, helped him expand his influence in the global jewellery market. He began showcasing his work at prestigious international events, attracting attention from high-profile clients, including celebrities and royalty.
Award of Excellence: Sako Krikorian – The Grand Master
Krikorian’s hard work and dedication to his craft culminated in his recognition at the Jewellery Award Night, the most prestigious event in the Canadian jewellery industry, held during Canada International Jewellery Week. This gala event brought together key players from across the industry to celebrate Canada’s brightest talents.
Sako Krikorian didn’t just win one award—he swept the competition. He took home Entrepreneur of the Year, Diamond Jeweller of the Year, and the crowning honour: the Grand Master Award. The Grand Master Award is the highest recognition in the Canadian jewellery community, symbolizing excellence across all facets of the business, from design and technical expertise to marketing, sales, customer service, and branding. The Grand Master Award is particularly significant because it recognizes jewellers who have mastered not just one aspect of the business, but all of them. While many jewellers excel in specific areas, such as craftsmanship, sales or design, Krikorian has demonstrated a rare ability to combine all elements—creation, technicality, marketing, and customer service—into a cohesive and successful brand. His ability to do so has made him a true leader in the industry.
The Legacy of Sako Krikorian in Canadian Jewellery
Sako Krikorian’s 30-year journey in the jewellery industry is nothing short of remarkable. From his humble beginnings selling cubic zirconia at flea markets to becoming an award-winning grand master of luxury jewellery, Krikorian’s story is one of perseverance, creativity, and constant evolution. His ability to adapt to changing market trends, embrace new challenges, and continually innovate has set him apart as one of Canada’s leading jewellers.
Silvernika’s designs continue to amaze with their perfect blend of modern chic and timeless elegance. Each piece is a true work of art, meticulously crafted to capture both innovative spirit and classic allure. Whether you’re looking for a bold statement piece or a subtle accent, their collection elevates every look with undeniable sophistication.