Entrepreneur
In an era where most shopping happens with the click of a button, and retail has become increasingly impersonal, Polacheck’s Jewelers stands apart. The Calabasas luxury store is more than a store—it’s a weekend destination. Wealthy customers browse brands such as Rolex, Patek Philippe, and Cartier while enjoying food and refreshments and chatting with an expert staff.
“I’ve turned all my clients into friends,” says owner Brent Polacheck. “It’s important for me to know who’s spending money with me because we’re gonna spend hopefully 10, 20, 30 years together.”
The business began 101 years ago when Ben Tipp opened a small diamond store in Seattle. After relocating to Los Angeles in 1949, it became one of America’s premier luxury retailers. Polacheck is the fourth generation to run his family business.
With a bridal case displaying ten-carat diamonds and watches that can cost upwards of $2 million, Polacheck’s isn’t for everyone. But it understands the value of what matters most: building multi-generational relationships and providing a memorable experience. His approach offers valuable lessons for entrepreneurs in any industry.
In a recent appearance on the One Day with Jon Bier podcast, Polacheck shared insights on building a lasting luxury retail business in the age of Amazon.
Create an experience worth returning to
While many luxury retail chains feel identical and impersonal, Polacheck’s has become a community hub. Saturdays transform the store into a social destination, complete with drinks and sushi.
“If you’re gonna go spend your money somewhere, wouldn’t it be in a great environment?” Polacheck asks.
The key is making service personal and memorable – from ensuring staff are experts in their field to creating an atmosphere where customers and their families feel genuinely welcome, not just tolerated.
Build lasting relationships, not transactions
For Polacheck, business means taking lunch with clients, hosting watch collectors’ dinners, and even organizing trips to Geneva for auctions with his most dedicated customers. When a client calls about a gift, his team will text photos and handle gift wrapping, saving them a trip to the store. This personal approach extends beyond single purchases – he actively vets potential customers, focusing on those within a 15-20 mile radius who can become part of the store’s community rather than one-time buyers from out of state. The lesson? In luxury retail, building deep connections with the right customers matters more than maximizing individual sales.
Stay alert to changing markets
Success in luxury retail requires staying vigilant and seizing opportunities before competitors can act. When Polacheck learned another dealer was considering opening in the Topanga area, he moved quickly to secure the location himself. Now he’s building a 3,500-square-foot Rolex boutique there, one of only about 20 in the United States. At the same time, he’s renovating his flagship store and planning a new Patek Philippe location.
Choose your customers wisely
With thousands of orders and limited inventory, Polacheck carefully vets who gets each watch.
“Selling a unit just to sell a unit makes no sense nowadays,” he says.
His team focuses on customers within a 15-20 mile radius who will become long-term clients, rather than out-of-area buyers who might flip watches for quick profits. The approach means turning away some easy sales, particularly from resellers. But finding the right customer, not the right-now customer, is worth its weight in gold.
Today, Polacheck’s is expanding with new locations, including a standalone Rolex boutique opening soon in Topanga. As Polacheck prepares his own children to eventually take over the business – including his daughter who’s gaining experience at another jewelry store in Vermont – he’s seeing his customers’ children becoming the next generation of clients.
“A lot of my customers are having their kids come in—that means we’re doing something right.”
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