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 Carat Czar
Rosy Blue is one of the largest sight-holders of De Beers, and that in itself makes this company a very powerful entity. It's a grand rise and shine story scripted by its CEO Dilip Mehta
By Sayantan Chakravarty in Antwerp
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PASSIONATE ABOUT DIAMONDS:
Mehta at his Antwerp office works very hard to remain at the top of his trade
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| Dilip Mehta is an extraordinary man, and not just because he makes a lot of money selling exquisitely cut and polished diamonds. Of course he is one of the biggest diamantaires in the world, the combined worldwide sales of Rosy Blue Group that he heads is U.S. $ 1.7 billion. But what makes him a cut above is perhaps his ability to look at the future without any trace of false bravado. On a Saturday in November, when his normally bustling 12th floor office at 53 Hovenierstraat in Antwerp is very quiet, when the streets below are empty, Mehta tells you that no longer can the Super Rich of the world, especially in India, expect to close their eyes to the blinding reality before them—that in five years a lot of those who are poor will continue to remain in abysmal levels of misery, and that might spell anarchy, and raise serious security concerns. And all the investments flowing in today to India might be jeopardized if the poor were continuously ignored by the Gated Community. “At their own peril can you continue to ignore them,” Mehta tells you, breaking off to read some emails at a couple of giant computer screens before him. Like the poor, the emails too require urgent attention. |
| "I’m really humbled by the honour of Baron that the Belgian monarchy and Government bestowed on me" |
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When you’ve gone to interview the man who’s now Baron, the man whose firm Rosy Blue draws whispers of astonishment and appreciation at the same time, you expect to hear more about the success story of the company. Instead, Dilip Mehta will spend a lot of time talking about the concerns of the world, and philosophize on issues that lesser men with less busy schedules will not even deign to touch. For instance, he’s genuinely concerned about India’s young population that could be burgeoning to levels of 1 billion by 2020. He’s concerned about the disconnect that confronts India’s young, the disconnect between what they do not have, and what they want to have.
But more of that later. He usually works on Saturdays, when he’s in this elegant port town, catching up with things he wouldn’t otherwise be able to on a regular weekday, when he’s traveling or meeting people from across the world. On Saturdays, the streets below are very quiet, but even the slightest movement will be picked up by overhead cameras and a few strongly-built policemen that are present. After all, this famous street has offices of several of the richest diamantaires in the world, and that’s saying a lot.
In between the interview, he’s on hotline with his son Vishal, discussing a possible trendy line for a show in South Africa. He’s searching for the right word to make his diamonds hit home, and jumps up at “passion”. “Yes, that’s the one that I’ve been looking for, keep that,” he exults. He also takes time out to conclude with astonishing clarity a deal on the phone—the business of diamond moves more on trust, than anything else—that runs into a few million dollars. As you watch him, you realize he’s a lot on his hands. Offices in 15 countries to keep track off, nearly 15,000 employees that include 1,500 white collared workers and 50 key managers. He finds time to speak at various fora, opinionating his world views at global conferences. There is plenty of charity work to be done. Not surprising, considering that he has a bent of mind that wants to connect with things beyond the immediate.
But get him talking on his success, and he prefers a down-to-earth approach. “I’m really humbled by the honour of Baron that the Belgian monarchy and Government bestowed on me,” he says. But it sends out a strong clear signal too, his recognition is a message from the authorities in Belgium that the diamantaires from India matter. Dilip Bhai as his many diamantaire friends would like to call him is happy at the effort made by the community. Diamond business among Indians is still largely run by families, and on trust. “For the better part of two decades we kept mostly to ourselves,” he says, adding “it did lead to a negative feeling. It took a lot of doing to change all that, sometime towards the late 1990s we started opening out as a community, now the efforts are paying off…”
Yes Baron Mehta, they are. |
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more...
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January 2007
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