Royal Asscher Diamond Company recently announced that “industry patriarch” Edward Asscher, the firm’s President and fifth generation family member would be retiring as of March 2, 2020.

“This day is an anniversary that celebrates exactly 50 years working within the legendary family diamond dynasty,” a statement from the Company said. 

His daughter Lita Asscher and son Mike Asscher will now be taking the business forward as Co-Presidents.

Sketching in the background, the Company stated that Edward Asscher joined the family business in 1970 after completing his academic studies. He apprenticed with his father and uncle, working alongside some of the finest diamond craftsmen in the industry. Ten years later, he stepped into his father’s shoes as the company’s President.

For the next 36 years, he worked in harmony with his brother Joop, who passed away in 2006. “Upon taking the company’s helm, Edward expanded Royal Asscher’s reach in the international market, creating a presence and developing strategic partnerships, on all of the globe’s continents,” Royal Asscher said.

With son Mike and daughter Lita, the family’s sixth generation joining the business, Royal Asscher began to focus on the manufacturing of fancy cut diamonds; and invested in innovative technology, which has led to the patenting of four proprietary diamond cuts. The Royal Asscher Cut has achieved world-wide fame.

“Edward also enjoyed an illustrious career outside of the family business,” the Company emphasised. “As a passionate campaigner for an ethical responsible diamond industry that respects human and environmental rights, he has held board positions across numerous charities and industry bodies.  He served as president of the World Diamond Council (WDC) from 2014 to 2016 and will begin another two-year term in June of this year. As an NGO, the WDC represents the complete diamond supply pipeline, from mining to retail, in the Kimberley Process (KP). With Asscher’s focus on human rights, he will promote further changes in the global diamond supply chain.”

Edward Asscher was the Past President of the International Diamond Manufacturers Association (IDMA); Past President of the International Diamond Council.  

He was also the Past President of the Liberal Party in Amsterdam; and has served as a Senator for the Liberal Party in the Dutch parliament from 2007 to 2011.

He received a knighthood for his social and ethical work and was consequently named an Officer in the Order of Oranje-Nassau.

Edward commented: “Fifty years in the family business made it an extraordinary journey. It was a pleasure and an honour to work with three generations of Asschers: my father, my late brother Joop and two of my three children. Our industry has had its challenges in many aspects, but ethical standards, transparency, innovation, and professionalism have become the norm and will keep the industry as beautiful as the product itself. I now leave, with full confidence that the future of Royal Asscher is in the able hands of the next generation!”0

Daughter Lita said: “It’s an extraordinary moment because my father has contributed 50 years of dedication to our family business. He is an amazing example, and he has instilled us with a drive and passion for the diamond business. Edward’s work ethics, his command of complexities, his devotion and focus have been exemplary at the company. His achievements and energy will always resonate throughout Royal Asscher. Everything he taught us means the world to us. Mike and I will uphold his legacy and pass it on”.

Son Mike remarked: “Working alongside my father has been an incredible experience. He has been a mentor, friend, and business partner for over 21 years. Together we have created some of the world’s most beautiful patented diamond cuts, which are now part of our family tradition. I want to thank Edward for all he has done for Royal Asscher. I look forward to continuing to work closely with Lita in leading our company, serving our expanding client base and delivering strong growth for our retailers across the globe.”