Podcast Summary: "Diamonds are Forever...And Then Some"

Podcast: Fashion People
Host: Lauren Sherman
Guest: Mark Bridge, CEO of At Present
Date: December 26, 2025

Overview

In this episode, Lauren Sherman, fashion correspondent for Puck, dives deep with Mark Bridge—fifth-generation jeweler and CEO of discovery platform At Present—into the evolution of the jewelry business, the myth and marketing of diamonds, the branding divide between watches and jewelry, and how contemporary consumer habits are shifting. The conversation is packed with industry history, sharp observations on retail, branding, and generational change, and ends with fresh insights into where jewelry is headed next.

Key Discussion Points & Insights

1. Mark Bridge’s Background and Family Business Legacy

[08:19–10:46]

• Mark is a fifth-generation jeweler whose family business, Ben Bridge, started as a watch shop in Seattle (1912) after his great-great-grandfather emigrated from Europe.
• The business grew post-Klondike gold rush, eventually expanding to 100 stores before being sold to Warren Buffett’s Berkshire Hathaway in 2000.
• Mark apprenticed at Ben Bridge until founding At Present, a platform connecting independent jewelry designers and customers.

Quote:
"My background in jewelry and watches go back over five generations...I spent the first 35 years of my life in apprenticeship in that business."
— Mark Bridge [08:19]

2. The Origins of Jewelry Retail in America

[12:06–14:49]

• Most jewelry was historically unbranded, sold in thousands of local shops where trust and personal relationships were central.
• De Beers created the consumer imperative for diamond engagement rings—local jewelers provided the connection and guidance.
• The industry: “everyone had their guy,” whether on NYC’s 47th Street or on Main Street.

3. The Jewish Influence in Jewelry & the Importance of Trust

[14:49–17:04]

• Many jewelers were Jewish, stemming from historical restrictions on other professions and the insular, reputation-based trust systems in communities—exemplified by million-dollar diamond trades on a handshake.

Quote:
"Millions of dollars were exchanged on a handshake...there was never a contract on this."
— Mark Bridge [15:55]

4. Disruption: From Main Street to Malls to the Internet

[17:04–18:21]

• Ben Bridge and other jewelers expanded with malls; later, digital disruptors like Blue Nile sought to commoditize diamonds.
• Online players (e.g., Blue Nile) outlined diamonds with standardized grading—the "sea of sameness" emerged in retail, narrowing consumer experience.

5. Watches vs. Jewelry: Why Branding Took Different Paths

[20:06–23:49]

• Watches swiftly became branded luxury items, while jewelry remained mostly unbranded.
• Strong design and differentiation drove watches’ desirability; jewelry, led by the De Beers campaign, relied on uniformity and commodification (e.g., the 4 Cs for diamonds).
• The industry failed to build storytelling and uniqueness into jewelry as effectively as watches did.

Quote:
"The watch brands did that...the jewelry side of the house never managed to figure out. They were racing down the path of: can we commodify this?"
— Mark Bridge [22:14]

6. The De Beers Diamond Myth & Cultural Value

[25:51–30:26]

• Diamonds’ value is culturally constructed, not based on their true rarity; De Beers’ campaign was "the best of the 20th century," associating diamonds with love and permanence.
• As De Beers’ monopoly faded and lab-grown diamonds became common, the myth endures but is increasingly challenged by new supply and attitudes.
• Diamonds remain powerful symbols; people continue to value their engagement rings above many other possessions.

Quote:
"Symbols are powerful...the value of anything is ultimately a cultural construct...De Beers associated diamonds with the best way to say I love you and mean it."
— Mark Bridge [25:51, 27:06]

7. Building At Present: Discovery, Curation, and Modern Consumers

[32:37–39:57]

• Mark saw physical retail’s "sea of sameness" as a missed opportunity for discovery and individuality in jewelry.
• At Present showcases emerging designers and values unique creative vision over just precious materials.
• The consumer shift: jewelry is increasingly self-purchased rather than gifted, breaking away from the tradition of waiting for a partner to buy significant pieces.

Quote:
"I like to joke we are not precious about being precious...we’re showcasing creativity and storytelling rather than just ounces or carats."
— Mark Bridge [37:43]

8. The Long Road to Success for Consumer Brands

[41:31–44:16]

• The five years since launching (2020) showed that genuine, lasting consumer brands take time, patience, and community—unlike fast-scaling beauty brands.
• Cites the success of the Acquired podcast as an example of passionate, audience-driven brand building rather than growth-for-growth’s-sake.

9. Capital Structure, Longevity, and Brand Building

[44:16–49:28]

• Discusses the pitfalls of institutional money, IPOs, and short-term thinking, contrasting it with the multi-generational, slow-burn approach to business Mark prefers.
• Many IPO’d consumer brands have suffered post-listing, while long-term, family-owned approaches can foster deeper, more sustainable companies.

Quote:
"I am just trying to build a long term sustainable jewelry platform...this is the adventure and it's really fun."
— Mark Bridge [48:35]

10. Jewelry vs. Soft Luxury: Recent Trends and Future Outlook

[51:21–55:21]

• Jewelry sales have proven more resilient than handbags/apparel… possibly due to “catch up”—jewelry’s relative share-of-wallet is rising as storytelling, product, and collection-making improve.
• The emotional, lasting satisfaction from jewelry (and watches) stands in contrast to “stuffed closets” and “bag fatigue” in soft luxury.

Quote:
"Jewelry has a smaller share of wallet than it deserves based on the emotional import of what it does."
— Mark Bridge [54:17]

11. The Watch Market, Apple Watch, and Consumer Behavior

[58:19–67:12]

• The Swiss watch market is increasingly niche, raising prices but serving fewer consumers.
• The Apple Watch brought new generations into watch-wearing habits, even if many ultimately seek out heritage luxury watches for their emotional and design appeal.
• Tech devices serve function, but identity objects (jewelry/watches) are about self-expression—“do people all want the same thing? I don’t think so.”
• Attempts by luxury watchmakers to go “smart” (e.g., Tag Heuer Connected) haven’t captured either market well.

Quote:
"I think the question for the high end is: do they want to be a niche purveyor...maybe that makes sense in a world where Ferrari is the most valuable carmaker selling 12,000 cars a year."
— Mark Bridge [64:38]

12. What’s Next for At Present?

[68:22–69:28]

• Excited about partnerships for New York Fashion Week and continuing to discover and showcase unexpected, creative jewelry—like high-end crocheted and needlepoint pieces.
• Commitment to being a platform for creativity and discovery rather than commodity sales.

Memorable Quotes & Moments (with Timestamps)

• “I have the great privilege of being able to choose my own adventure and this is the adventure and it's really fun.” — Mark Bridge [48:38]

• “The only value of the [glass jewelry] product is that that I put into it...Actually what we are showcasing here is the creativity and the artistry and the storytelling behind it.” — Mark Bridge [38:14–38:28]

• “Everyone had their guy...those kinds of personal connections was the organizing force of the industry.” — Mark Bridge [13:27]

• “The traditional jewelry business just missed that nobody is waiting for their partner to buy them a pair of shoes or a handbag...that just didn’t make any sense.” — Mark Bridge [34:03]

• “Symbols are powerful and I don't know...the value of anything is ultimately a cultural construct.” — Mark Bridge [25:56]

• “I am a big believer that capital structure in a lot of ways dictates destiny.” — Mark Bridge [45:32]

Timestamps for Important Segments

| Segment | Description | Timestamp | |---|---|---| | Mark’s Family Legacy | How Ben Bridge started, growth, & sale to Berkshire | 08:19–10:46 | | Local Jeweler’s Role | Pre-mall, personal trust-based sales | 12:06–14:49 | | Ben Bridge & Retail Shifts | From Main Street to Malls to Blue Nile | 17:04–18:21 | | Watches vs. Jewelry Branding | Why watches became branded; jewelry lagged | 20:06–23:49 | | De Beers' Diamond Myth | Cultural construction and marketing mastery | 25:51–30:26 | | Building At Present | Curation, discovery, changes in buying behavior | 32:37–39:57 | | Brand Longevity & Capital | Why slow, steady growth beats hype | 44:16–49:28 | | Jewelry Outperforming Apparel | Why jewelry’s moment is now | 51:21–55:21 | | Watches & Apple Watch | Consumer cycles, identity, and market futures | 58:19–67:12 | | What’s Next for At Present | Growth and creative direction | 68:22–69:28 |

Tone & Language

The conversation is both warm and deeply informed, mixing business analysis with personal anecdotes, historical context, and a throughline of curiosity and optimism for jewelry’s future. Both Lauren and Mark are witty, candid, and occasionally self-deprecating, with industry-insider banter and an appetite for storytelling.

For New Listeners

This episode is a must-listen for anyone interested in why diamonds are more myth than mineral, how retail changes reshape entire industries, and how consumer values are making jewelry (and watches) relevant—and thrilling—again.