Gaba Diamonds, the Msida-based investment jewellery specialist, is to move to seven-storey custom-designed premises in Iklin in the first half of 2010, gemmologist Lee Satariano told The Sunday Times.
The state-of-the-art Gaba premises will serve to centralise and enhance Gaba Diamonds' operations and will combine its Gaba Gioielli retail outlet which will be moving next door to its current location.
Mr Satariano was reticent about the ambitious project's value but it is obvious, judging from the plans, that the investment is considerable.
Designed by world-renowned Swiss retail architecture consultants, the premises will boast over 600 square metres of display space.
There will be floors each dedicated to silver, gold, pearls and watches, a wedding list service and gifts. A full floor will host Gaba Diamonds' operations.
Staff on each floor will be led by a Gaba director who, as is the current practice, will be present to see to customers' personal requirements.
The design incorporates an eight-person glass lift, and glass panels in the façade which, Mr Satariano explained, will serve to expose the movement on the premises' interior. Retail floors will feature boutiques, consultation areas and luxury seating. On one floor, clients will be able to watch some of Gaba's experts at work behind a glass wall.
The spacious ground floor has been designed to welcome visitors with varied requirements, leading them first to Gaba's silver and fashion jewellery displays. Jewellery lighting specialists have been appointed to design cost-efficient systems best suited to the items on display on particular floors.
Other areas have been designed to allow Gaba's 30-strong team to enhance the range of services offered to the company's loyal clientele, including upgrades, valuations, inspections, cleaning and repairs, besides some new services to be revealed at a later stage.
Gaba Diamonds, established in the early 1970s by Mr Satariano's father Arthur, has decided to move from its current head office in Valley Road, which it has occupied for over 22 years, to continue to offer customers rare-to-find quality products and services.
Gaba is not, however, seeking to transform itself into a high street staple. The company has studied customer flows within the area through Gaba Gioielli, which opened in the fledgling commercial district in 2002, and the response has been more than satisfactory.
"The location suits our purposes perfectly," Mr Satariano said. "Gaba Diamonds has always sought to offer its clients value for money. The new premises will allow us to consolidate our business under one roof and to underline our leading stand in the market."
Gaba Diamonds is a veritable pioneer in the local diamond industry.
In the 1960s, Arthur Satariano landed a job in a diamond cutting factory in Canada. He returned to Malta after five years, eyeing the opportunity presented by the Maltese's growing preference for investing in gold and diamonds at the time. Applying the expertise acquired during his stint in Canada, Mr Satariano established Malta's first diamond cutting facility with his brother Albert, who then raised capital through two other shareholders, Samuel and Anthony Cremona.
At the height of the operation, the staff included over 45 cutters. The company's gold bullion trade also flourished and it became the preferred supplier to many local manufacturers. Between 1972 and 1995, Gaba wholesaled gold, diamond jewellery and pearls to over 70 per cent of the local retail market.
In the mid-1990s, Gaba also obtained direct access to De Beers' Diamond Trading Company through a key sight holder, giving it access to a vast inventory of diamonds.
In 1995, Gaba Diamonds staged Malta's first ever jewellery exhibition at the Mediterranean Conference Centre. Over a tonne of gold was flown to Malta by private jet for the event. As Malta embraced an increasingly open market economy, the company's wholesaling business began to be scaled back, the diamond cutting factory ceased operations, and Gaba redirected its focus on investment diamonds.
Arthur Satariano passed away in 2000, but the firm remains a family business and is now run by second generation Satarianos.
It was almost inevitable that Lee Satariano would try his hand at diamond cutting in 1990 after being raised in the business. In 1994, he pursued his studies in gemmology and diamond, grading at Belgium's HRD, the Antwerp World Diamond Centre. A colleague obtaining a manager's post at Christie's in London provided Mr Satariano with a unique opportunity to obtain valuation experience, handling some of the world's most spectacular stones.
The expertise gained by Mr Satariano and the firm's directors are a guarantee of continuity of professionalism within Gaba's ranks that has earned the trust of some of Malta's most important clients.
Gaba's market reach was widened as the firm ventured into the gold and silver jewellery sector, pearls, gifts and timepieces with Gaba Gioielli. The new arm sought to offer one of the widest selections on the island, featuring brands which boasted high quality finish.
It was also an opportunity for Gaba to introduce new concepts and products to its existing clientele.
The company's portfolio of international brands, which currently includes Korloff, Crivelli, Lenti and Villasco, and By Dario, silver brands such as Amore e Baci, Padovani, Lotus and Festina watches, has recently grown to incorporate Wedgewood and Royal Doulton in time for the opening of the new establishment. Some more additions are also in the pipeline.
Mr Satariano is undaunted by current negative economic sentiment. Gaba's new premises, he said, will be open as the upturn begins to make an appearance. Next year, consumers will have a more positive outlook, rekindling demand for luxury goods further, he added.
Meanwhile, Gaba will revamp both its company portals and is also examining the feasibility of launching an online shopping facility for its younger brands.