Jacob & Co. CEO Benjamin Arabov Talks Triple-Digit Growth, Global Expansion 

A relatively young watch brand, Jacob & Co. – also a high-jewelry brand – was founded just 37 years ago in 1986 by Jacob Arabo, whose mission was to do the unthinkable with jewelry and watches. Thanks to now-iconic watches like his Five-Time-Zone piece that attracted hip hoppers, rappers,  athletes, and watch lovers alike, the brand fast became one of the most talked-about watch companies in the 1990’s. Add to that its superlative high-jeweled watches and seductive bespoke jewelry and Jacob & Co. was on a roll – staying true to the idea of creating what didn’t exist before.

Now, for the first time, the brand releases some impressive numbers about its expansion – particularly the fact that the growth of the brand over the past two years (from 2020 to 2022) is up by a significant 132 percent. Disclosing their revenues, Jacob & Co. showed a 2020 income of $81,000,000, a 2021 revenue stream of  $137, 000, 000 and a 2022 revenue total of $188,000,000. The majority of that growth comes from the watch side of the business.

One of Forbes’ recent “30 Under 30” listers, Benjamin Arabov, CEO of the brand (and Jacob’s son), says the strong growth was beyond their projections and beyond market expectations. He also noted that this was the third year in a row the brand is outperforming its forecasts. He noted that the brand’s split of jewelry and watches is 25/75 percent respectively, that of the 132 percent growth in revenues, 106 percent was in the sale of watches, and the remainder was in jewelry.

He further noted that some of the brand’s most popular watch sales included the $280,000 Bugatti Chiron —of which the brand sold more than 200 in the past couple of years, and the $350,000 Opera Godfather, of which it sold more than 100 pieces in the same time period.

While Jacob & Co.  sells a strong number of its high complications, such as the aforementioned Opera Godfather and Bugatti Chiron, as well as the beloved Astronomia in all of its iterations, Arabov says the focus in the past year or two has also been on the brand’s less expensive watches, such as the Epic X and the Epic X Chronograph, the sales of which have increased nicely over the past two years. Similarly, its Palatial watch, that sells for $7,000, has experienced enormous growth, with $200,000 of that collection sold in 2020 and more than $2 million worth of that collection sold in 2022.

Arabov noted that doubling the company’s business has been both challenging and rewarding, adding that the growth is due to a myriad of factors, including a strong demand for luxury watches in general, and consumer interest in certain product families the brand offers. Also, an aggressive expansion of boutiques around the world and a highly focused social media plan helps.

“When I joined the business two years ago, this was the vision. To reduce the workload from Jacob so he can focus on the global expansion and the creative design,” says Arabov. “The global expansion we are doing has been beautiful to see unfold with ribbon cuttings, new stores around the world, it’s all  exciting.”

As to that expansion, the most recent boutique opening was just last week in Dubai, one of the most important markets for the brand. It was actually a re-opening of the brand’s store in the Dubai Mall – one of the most successful Jacob & Co. boutiques – with an updated look offering a new consumer experience. That opening celebration came just days after the brand opened its first store in Istanbul in the Four Seasons Hotel. Prior to that, in 2022,  was the opening of a dedicated Jacob & Co. shop-within-shop in upscale Sincere Fine Watches in Singapore. In fact, in 2022, mono-brand boutiques and shop in shops were opened in Tokyo, Mumbai, New Delhi, London and other cities around the world.

According to Arabov, 2023 will witness the opening of at least another dozen stores in countries such as Saudi Arabia (planned for an April 2023 opening), Thailand, Hong Kong, Egypt and more. Arabov also says that in America, where the brand has its own boutiques in New York and Bal Harbour,  the brand  expanded with Watches of Switzerland with a presence in Minnesota and Atlanta in late 2022. “I see a big opportunity in America as we further develop our lower end/daily wear timepieces. I see a big growth happening in 2024 and 2025 in America for us.”

As to watches moving forward this year, Arabov says plans have been in the works and there are some new additions.  “Based on the feedback from our clients and retail partners, a key point of resistance when people see our watches is the size of the watch. One of my biggest initiatives since I started two years ago was to create watches that were 44mm or less, and this year we are coming out with several models that represent that goal. Additionally, of course, to stay true to our DNA we are developing revolutionary, never-before complications to continue pushing innovation and keeping the industry on its toes.”

According to Arabov, five remarkable new complicated watches, including one “World’s First”  will make their debut in Geneva at the Four Seasons Hotel Les Bergues from March 27 – April 2, 2023 – concurrent to the timing of Watches & Wonders Geneva.

This article by Roberta Naas first appeared on Forbes.com.