Jacob Arabo, known to the world as “Jacob the Jeweler,” has a reputation that precedes him. Over the years, this talented businessman has not only charmed celebrities ranging from 50 Cent to Elton John but has also successfully built a multinational, multimillion-dollar watch and jewelry business. Today, he continues to push the creative boundaries of watchmaking with some of the most innovative watch designs.
In his role as CEO of Jacob&Co., Benjamin Arabov, Jacob’s son and trusted confidant, shoulders the monumental responsibility of steering the business toward becoming a worldwide powerhouse in luxury lifestyle. We recently had the opportunity to meet Benjamin in person at Dubai Watch Week.
Economy Middle East: What are your primary drivers of growth and the strategy behind it?
Benjamin Arabov: When I joined the business, Jacob (the founder) was handling every aspect of the business. One of my immediate goals was to relieve him of certain responsibilities, allowing him to concentrate on his strengths – negotiating deals, designing and overseeing the bigger picture. Over the past three years, we have successfully established 10 Jacob&Co. stand-alone boutiques. In addition, we have also expanded our distribution by partnering with retailers in India, Washington, and Switzerland. Currently, we have five boutiques in the pipeline. And, as a result, we’ve experienced three consecutive years of impressive expansion.
We also significantly increased our marketing budget to speed up growth. In terms of marketing, we do billboards, magazines and with a significant emphasis on digital platforms. In fact, we are one of the most followed luxury watch and jewelry brands in the world. By curating content that resonates with our consumers, we’ve mastered the art of gaining maximum impressions and engagements, thereby nurturing our organic channels. Jacob&Co. now holds the top position on TikTok and YouTube. The brand also ranks among the top five on Instagram within our industry. I’m happy to say we have huge support from celebrities. We feel truly blessed and grateful that this support has evolved organically.
Read: Dubai Watch Week 2023: Top brands showcase innovative timepieces
Economy Middle East: What does the global expansion strategy of Jacob&Co. look like?
Benjamin Arabov: We currently operate in 34 countries with a total of 94 stores, comprising mono-brand shops and boutiques. We look at the top markets that have high demand for luxury timepieces. For example, we have recently expanded to Paris, inaugurated a new store in Hong Kong, and are on the verge of opening in South Korea. We literally have a world map in our office, where my father, my brother – who is the commercial director – and I strategize on which market we should penetrate next.
Economy Middle East: For you, what does it mean to have a Jacob&Co. watch?
Benjamin Arabov: For me, it represents a distinct level of prestige that sets us apart from other brands. Our clients share an appreciation for the extraordinary and the unconventional, and this mindset is deeply ingrained in our ethos and product design. It is important for us to be completely different than anything else. A typical Rolex collector, or even a Patek collector, would not be our client, because we’re a little bit too out there, too extreme. I’m proud to say that has become our DNA, and I feel we’ve pushed independents and other brands to be more creative with their boundaries.
Economy Middle East: How involved are you in the design part of things?
Benjamin Arabov: Jacob and I work hand in hand on the designs. We go back and forth. At any moment, we’re probably working on three or four designs, whether it’s slight modifications to existing collections or bigger projects. I am certainly a resource for Jacob, but also, he is training me; he’s been in the game for a long time and wants to make sure his DNA carries on for generations.
When it comes to design, I feel it’s partly genetic, but also part muscle. The more you exercise it, the more you develop it. One thing he has taught us is to look for inspiration in architecture, and what elements we could gain inspiration from and integrate into our designs by reimagining them.
Economy Middle East: What story does the “The World is Yours, Dual Time Zone Collection” have?
Benjamin Arabov: I like to call it the inception of it all. It’s my favorite timepiece. When Jacob was 13 years old, before they migrated from the USSR to America, his father, Nison Arabov, gifted him a Wakmann watch. It had this world map and was a dual time zone. He told me when he first saw the watch, he knew in his mind and his heart that one day he would be a watchmaker. The inspiration is from this timepiece, recreated in the Jacob&Co. style. I’ve actually ordered one myself and cannot wait to get my hands on it.
Economy Middle East: What does Jacob&Co. look like 20 years down the line?
Benjamin Arabov: The goal is to develop Jacob&Co. into a full lifestyle brand, to have our own stores in every major city in the world, and to be one of the top five watch brands in the world.
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