Take risks, but calculated ones. Risk is necessary for growth, but not without careful thought.
As part of my series about “individuals and organizations making an important social impact”, I had the pleasure of interviewing Katy Nguyen.
Katy Nguyen is a visionary entrepreneur passionate about revolutionizing the fine jewelry industry by making luxury accessible through her latest venture Diameco. Beyond jewelry, Katy has a diverse investment portfolio spanning real estate and the beauty industry, embodying her adventurous spirit and keen business acumen.
Thank you so much for joining us in this interview series! Can you tell us a story about what brought you to this specific career path?
My journey began in 2018 with traditional retail stores, but my desire to democratize luxury jewelry for a broader audience drove me to develop Diameco.com, a fine jewelry rental and subscription service launched in September 2024. With a deep passion for fine jewelry and several years of experience, I transformed my vision into a groundbreaking platform that merges fine jewelry with modern technology. I’m a committed philanthropist, who actively supports community initiatives and mentors budding entrepreneurs, believing that giving back is essential to building a lasting legacy. My work with Diameco reflects my dedication to social responsibility.
Can you share the most interesting story that happened to you since you began leading your company or organization?
We received a note from a college student who rented one of our high-end pieces for her graduation day. She shared how the jewelry made her feel special and celebrated during such an important milestone. It was a humbling reminder of how meaningful our service can be for people in key moments.
It has been said that our mistakes can be our greatest teachers. Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
When I first started, we were sending out samples of our new jewelry collection to potential influencers. I carefully packed each box with the most beautiful pieces. Unfortunately, I accidentally mixed up the boxes, and one of our celebrity influencers received a package of blank sample tags instead of the jewelry! It was an embarrassing mistake, but she found it funny and was incredibly understanding. The lesson? Always double-check the contents before sending anything out, no matter how confident you feel.
Can you describe how you or your organization is making a significant social impact?
We’re addressing the exclusivity of the fine jewelry industry by allowing customers to rent luxury items. This not only makes high-end jewelry more accessible but also promotes a sustainable model of consumption where reuse is prioritized over constant production. We’re building a community around shared luxury and environmental responsibility.
Can you tell us a story about a particular individual who was impacted or helped by your cause?
A customer reached out to us after her engagement photoshoot. She rented an engagement ring and a set of diamond earrings that made the moment unforgettable. She told us how she would have never been able to afford such beautiful pieces otherwise, and how our service made a dream moment possible.
Are there three things the community/society/politicians can do to help you address the root of the problem you are trying to solve?
Encourage circular economies through policy incentives for businesses adopting rental models.
Raise awareness about the environmental impact of fast fashion and disposable luxury.
Support initiatives that promote inclusivity in traditionally exclusive industries like fine jewelry.
How do you define “Leadership”? Can you explain what you mean or give an example?
Leadership is about empowering others. At Diameco, I’ve made it a priority to involve every team member in decision-making processes. When your team feels ownership over their contributions, they’re more committed and creative. This collaborative approach has been key to our success.
How do you define “Leadership”? Can you explain what you mean or give an example?
What are your “5 things I wish someone told me when I first started” and why. Please share a story or example for each.
- You can’t do it all alone. Building a strong team is essential for scaling your vision.
- Take risks, but calculated ones. Risk is necessary for growth, but not without careful thought.
- Trust your instincts. At the end of the day, your intuition is often your best guide.
- Ask for help when needed. Trying to handle everything solo will burn you out.
- Success takes time. Patience is just as important as hard work.
You are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
I would advocate for the democratization of luxury. Imagine a world where luxury goods are accessible to all, not just the elite. This movement would challenge outdated notions of exclusivity, transforming the way we consume and enjoy high-quality items.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Do not go where the path may lead, go instead where there is no path and leave a trail.” This quote speaks to my entrepreneurial journey, where taking risks and forging new ways of thinking have been central to our success.
Is there a person in the world, or in the US with whom you would like to have a private breakfast or lunch with, and why? He or she might just see this, especially if we tag them. 🙂
It would be Oprah Winfrey. Her influence in media, her philanthropic efforts, and her ability to inspire millions of people worldwide are unmatched. I’d love to talk to her about how she built her brand, her struggles and how she has managed to stay true to her values while growing her amazing multi faceted empire.
How can our readers further follow your work online?
You can find my work on https://www.diameco.com/ on IG https://www.instagram.com/diameco_/
And you can find me on LinkedIn https://www.linkedin.com/in/katy-nguyen-6bab041a/.
This was very meaningful, thank you so much. We wish you only continued success in your great work!
Social Impact Heroes: Why & How Katy Nguyen Of Diameco Is Helping To Change Our World was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.