Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
Legendary Diamantaire Leo Schachter Dies at 95
He is remembered for his dignity, modesty and generosity.

Lawrence, N.Y.—Leo Schachter, a longtime leader in the diamond industry who was known for his modesty and generosity, died Thursday at his home in Lawrence, New York.
He was 95.
Born March 19, 1924 in New York City, Schachter was a second-generation diamantaire. His father, Max Schachter, started working in the diamond business in Antwerp after moving there from Poland and continued his business on 47th Street when he came to the United States.
Leo Schachter started the company that would eventually bear his name in 1952 in New York’s Diamond District and worked in some capacity for his entire life, with his company noting that he “enjoyed his engagement with diamonds until the end.”
He grew the business from a small, New York-based operation into one of the biggest diamond companies in the world, notching numerous partnerships and opening offices in Israel, India, Hong Kong, Botswana and Japan along the way.
Leo Schachter Diamonds became a De Beers sightholder in 1966—a status it still holds today—and a designated client of Russian diamond company Alrosa in 2016.
The company partnered with brothers Avraham and Moshe Namdar in 1981 to form Schachter & Namdar, which also was one of the largest diamond companies in the world, and that partnership lasted until 2005.
Leo Schachter Diamonds entered into a joint venture with William Goldberg Diamond Corp. in 2004 under which Goldberg cut the larger diamonds Leo Schachter sourced from De Beers, and it formed a partnership with Indian firm Kama Jewels to create Kama Schachter, a finished jewelry company, in 2007.
The company also was one of the first to venture into branded diamonds, launching “The Leo Diamond” in 1999. The stone is still sold at Kay Jewelers stores today.
Several other branded diamonds followed, including the “Lve” line, an accessibly priced bridal brand created in partnership with Forevermark.
In a statement issued Monday, Leo Schachter Diamonds said its founder’s combination of dignity, modesty and generosity “serves as an inspiration for his family and friends and as a guiding light for the company that he founded and built.”
The website for the Israeli Diamond Industry also posted a notice about Schachter’s death, with Israel Diamond Institute Chairman Boaz Moldawsky writing, “For years, Leo Schachter Diamonds has employed hundreds of workers in Israel and contributed to the prosperity of the Israel diamond industry and the Israeli economy.”
“Despite its global scope, the
Outside of work, Schachter—who divided his time between his home on New York’s Long Island and Jerusalem—was an ardent supporter of Zionist causes, Jewish education and charitable organizations.
A father of five, he also loved spending time with his family and would often say “Not enough!” when asked how many grandchildren and great-grandchildren he had.
Schachter is survived by his wife, Shirley; four daughters (the couple lost one daughter, Mindy) and sons-in-law; and numerous grandchildren and great-grandchildren.
A funeral took place Monday in Ra’anana, Israel, and the family will be sitting Shiva in Ra’anana and at the Schachter home in Lawrence.
The Latest

The new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.

The holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

The brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.


Corey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.

Charles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.

The upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Timepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.

The auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.

As chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.

Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.

The parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.

The trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.

Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.

Jewelry industry veteran Alisa Bunger has taken on the role.

“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.

The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.

The line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.

The rough on offer was recovered from a newer area at the Montepuez mine.

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

The champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.

Kosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.

Carlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.

The brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.

Proceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.