With Tiffany floundering and other high-end jewelers resorting to sales, the recent unveiling of high-end diamond boutique Dalyah on Madison Avenue raised a few eyebrows — including those of the company's own board of directors, apparently. After a much-hyped launch party on March 26, we stopped in a couple of weeks later and were told by designer Dalyah Duek-Flaks that the store would be closing at the end of the month. The board of directors — a group of four international partners that includes Duek-Flak's father, Protea Diamonds head Moshe Duek — were spooked, she said, citing the exorbitant rent (stores on Madison Avenue pay between $1,200 and $1,500 per square foot on average, she says) and lagging sales. "When we signed the lease in August, everything was looking positive," she said, "but within a few weeks, the demons started popping up. The directors were debating whether we should open at all or if it would be better to cut our losses." Dalyah's large diamond and colored-gemstone pieces range from $2,000 to over $100,000. "People were scared to walk in because it's expensive," she sighs.
But when we checked back this week, Duek-Flaks reported that the board has since reconsidered and will allow the store to remain open, a decision partly due to a spate of high-profile press, as well as newly launched discounts on Dalyah's spring cocktail rings. "At this point we just want to get our name out there," says Duek-Flaks. "We've decided to give it shot. They haven't killed me off yet."
Dalyah, 625 Madison Ave., at 58th St.; 212-575-5511.
Most Viewed Stories
Mary-Kate Olsen Strains Every Muscle in Her Face in an Attempt to Smile
The Fashion Executive Who Doesn’t Wear Underwear on Dates
25 Famous Women on Being Alone
22 Intimate Lost Photos of Marilyn Monroe
Prince George Has No Time for Justin Trudeau’s High Fives
How Angelina Jolie Won the First Big Battle in Her Divorce
It’s Time to Get Over Your White Feelings and Start Taking Action for Black Lives
2009 Called — It Wants Its Vogue-Versus-Bloggers Fight Back.
Former Miss Universe Becomes U.S. Citizen So She Can Vote Against Trump
Madame Clairevoyant: Horoscopes for the Week of September 26
From Our Partners
Who What Wear
powered by PubExchange
The Cut’s Latest Shopping FeaturesHow to Wear a Pink Suit
That millennial-friendly color strikes again.Cheap Thrill: A Frilled Tomato-Red Jumpsuit
Saucy.14 Things on Sale You’ll Actually Want to Buy: From a Backpack to a Bralette
This week, we dug through the darkest, deepest depths of the internet and found a back-to-school-worthy backpack and a $30 mint-green lamp.Treat Yourself: This Ring Will Make You Feel Like a Boss
A defense against impostor syndrome.Back-to-School Shopping Guide: The College Years
From fuzzy pillows to flatware.The 11 Best Pieces to Buy at Avenue 32’s Sale
Deep discounts, up to 80 percent off.Could These Be the Best Workout Leggings?
Meet the high-waisted version of ADAY's perpetually sold-out Throw and Roll leggings.The Perfect Summer Blanket Is Here
Never wake up in another night sweat again.Cheap Thrill: a Summer Dress You’ll Want to Wear Every Day
For work and weekend.How to Wear Two Bright Colors Together
Marigold and acid-green actually go together really well.
Grunge and glam had a baby together, and it's this clutch.Drake’s Is Now Collaborating With J.Crew
The British menswear brand, not the rapper.13 Basics on Sale, From a T-Shirt to a Tea Kettle
Here, some simple things on super-sale.Here’s Another Way to Get That Vetements Look
Champion's Reverse Weave collection is now sold on SSENSE.10 Bodysuits to Tuck Into Pretty Much Everything
Wear them with mom jeans, high-waisted skirts, work pants ...How to Make Your Work Clothes Less Boring
Take some liberties with this cool Tory Burch skirt.You Can Now Wear Your Succulents on Your Fingers
With the 13-piece Cactus de Cartier collection.Vivienne Westwood’s New York Debut, Unexpected Pool Floats, and a ’70s-Inspired Record Store
What's new in New York stores.Treat Yourself: A Bubblegum-Pink Varsity Jacket
Get one for everyone in your girl gang.9 Ways to Make Your Summer Wardrobe Less Boring
Don't freak out. Buy one of these nine things instead.