The New Generation is a WDC newsletter series that tells the stories of up-and-coming diamond industry leaders, examining the role that they see for themselves, in the business and the diamond itself. Each article in the series is delivered in the person’s own voice.
The ninth article in the series features Rehaan Shah, Founder and Managing Director of Avalon Worldwide FZCO, a diamond trading company headquartered in Dubai.
DEGREES BY DAWN, DEALS BY NIGHT
The author, Rehaan Shah, examining diamonds in his company’s offices in Dubai. Born in Belgium into a family of Indian diamantaires, at the age of 20 and while still a student, he struck out on his own, establishing Avalon Worldwide FZCO.
JULY 23, 2025
I was born into the diamond trade, but I chose to carve my own path through it. My name is Rehaan Shah. I’m 20 years old, and I was born in Antwerp, Belgium, one of the world’s historic centers for diamonds. While my family’s roots in this industry run deep, I’ve taken my own route – building my own Dubai-headquartered company, Avalon Worldwide FZCO, from the ground up.
My grandfather moved from Palanpur to Mumbai in search of opportunity, building a diamond trading business from scratch at a time when India was still finding its footing in the global trade. Years later, my father moved from Mumbai to Belgium at the age of 18, just as Antwerp was emerging as the newly dominant hub for rough diamonds. Both started their journeys young, driven by instinct, grit, and a belief they could create something from nothing. I’ve taken that same spirit into my own hands.
Working with my father was always an option, but I wanted to test myself. I believed the only way to truly learn this business was to build it, brick by brick, with no safety net. His belief, and mine, is that true growth happens when you learn through doing, when you establish your own name rather than inheriting one. Starting Avalon was about earning my place in the industry on my own merit, learning from mistakes, and developing the skills I’d need to carry this legacy forward.
So why the urgency at age 20? Because I’ve seen firsthand that the earlier you start, the more you learn, and the more you can achieve. That drive was instilled in me by watching my father and grandfather. I thrive on the responsibility, the independence and the challenge. Traveling to new places, navigating deals, building trust with suppliers and clients, this isn’t just work. It’s what excites me. Every day I wake up motivated by the idea that I’m laying the foundation for something meaningful, just like the generations before me.
Rehaan Shah, Founder and Managing Director of Avalon Worldwide FZCO.
Rooted in rough and family
My father’s office in Antwerp was my playground. The table he worked at was covered by paper‑wrapped diamond parcels, stacked like building blocks, each one a lesson in patience and possibility.
But the evenings we spent around the dining table were less about spreadsheets and more about stories. We learned about the great crash of the 1980s and the boom years that followed, and the moral that every cycle rewards honesty, hard work, and karma. I absorbed those principles the way other kids memorized multiplication tables, not realizing they would one day become the pillars of my own company.
When I moved to London at age 18 to study Business Management at the University of Westminster, most of my classmates were figuring out how to balance lectures with their social lives. I was trying to balance a university degree with launching my own diamond trading company.
Avalon Worldwide FZCO was born out of a clear vision I had from the start: to build a modern, independent trading business rooted in trust, relationships and transparency. From the beginning, I knew I wanted to do it on my own terms. The idea wasn’t just to sell diamonds; it was to create a company that reflected the values I’d grown up with and the future I saw for the trade.
Studying and setting up in Dubai
I registered Avalon at the Dubai Multi Commodities Centre (DMCC), because it’s widely recognised as one of the world’s most efficient and secure platforms for diamond trading. It was a fortuous choice, for DMCC has supported me exceptionally well, from the company registration process to networking opportunities. Despite my youth, I have been treated with the same seriousness and respect as any seasoned trader.
Dubai, in particular, made perfect sense to me. The UAE is rapidly becoming a global hub for business, offering an ecosystem that supports growth, innovation and cross-border trade. Being in the city places Avalon at a geographic and commercial crossroads between Africa, India and Europe, giving me access to international markets and a forward-looking business environment. To give it the best possible springboard, I wanted Avalon to be positioned at the center of where the diamond trade is heading.
The author at the Dubai Diamond Conference in 2024, held at the DMCC, where his company is headquartered.
I was still a university student, but I handled the setup process myself – navigating paperwork, licensing and logistics, all while attending lectures and preparing assignments. I still remember jumping between supplier calls and group study projects, often submitting papers from airport lounges or between business meetings. One week I was writing an essay on a strategic finance module, the next I was closing a parcel deal from a supplier in Africa.
While others were planning spring break trips, I was mapping out trade flows, researching tenders and calculating margins. The contrast wasn’t just lifestyle, it was a mindset. I had responsibilities, suppliers to answer to, deals to protect and a brand to build. There was no “safety net,” just me, my vision, and the belief that it was better to start early and struggle with purpose, rather than wait for a perfect moment that may never come.
I graduated on time, but the real education came from building Avalon alongside my studies. That experience taught me one of the most important lessons I carry today – discipline scales opportunity. If I could juggle coursework and cross-border deals at 18, I knew I could handle the pressure and unpredictability that define the diamond industry.
From cold calls to kindred clients
Avalon’s growth was never fuelled by deep pockets, it was powered by persistence, relationships, and relentless follow-up. I didn’t have the luxury of stepping into a ready-made client list or an inherited supplier network. What I had was a phone, a laptop, and the willingness to reach out to anyone who might give me five minutes of their time.
I started with cold calls and cold messages, to cutters in Surat who remembered my grandfather from his early trading days, and to young executives at mining houses who had only ever seen my name pop up on LinkedIn. Sometimes I’d follow up six or seven times before hearing back. In most cases, I wouldn’t hear back at all. But I kept showing up, on emails, on calls, on flights. I knew that in this industry, you build credibility one conversation at a time.
Instead of waiting for the one big break, I focused on nurturing a hundred small ones. I listened more than I spoke. I asked suppliers what they were looking for, how I could add value, what challenges they were facing, and then I offered solutions. Whether it meant sourcing a hard-to-find size mix, or offering market insights that helped them position their goods, I made it a point to show I wasn’t just another trader – I was a long-term partner.
In Surat, I spent hours visiting factories, often just to sit with the teams, drink chai, and understand the nuances of their manufacturing processes. Even when there wasn’t a deal on the table, I stayed in touch. In Africa, I caught last-minute flights just to meet people face-to-face, knowing that trust in this business isn’t built over Zoom, it’s built across the table, eye to eye.
This wasn’t about a quick sale. It was about showing consistency, transparency and following through, even on the smallest promises. I learned quickly that people don’t just buy diamonds, they buy trust. And trust is built not through what you say, but what you do when no one’s watching.
Over time, those cold calls became real conversations. Those cautious introductions turned into trusted partnerships. And slowly, I started to build a client base. It’s not the loudest nor the flashiest, but it’s loyal and quietly growing. These are clients who came back not just for the goods, but for how they were treated. They are customers who appreciated that I am young but serious, and new but reliable. It’s this that has made all the difference.
A long night in Africa, and then a pivotal moment
My first solo sourcing trip to Africa was meant to be textbook simple – from Dubai to Johannesburg, and then on to Gaborone in Botswana for the Okavango Diamond Company tender. But that week, heavy flooding in Dubai brought the airport to a complete standstill, grounding flights, overflowing terminals, and creating hours of confusion. When my plane finally took off, the delay meant I missed my connection from Johannesburg to Gaborone.
New to Africa, I suddenly found myself stranded in South Africa, It was a country I had never visited, where I has no friends, no contacts, and no idea what to do next.
I spent five long hours at the airport in Johannesburg waiting for the airline to arrange accommodation. Eventually, they booked me into nearby hotel, and I stepped into the shuttle, nervous and alert.
But it wasn’t just about the missed flight anymore. It was about navigating uncertainty in real time, alone. I remember sitting on the edge of the hotel bed that night with my phone charging beside me, and hearing my father’s voice in my head. “Adversity is a mirror,” he told me, “it shows you who you are when no one is watching.”
The next morning, I boarded a shuttle to the airport again, still tired, still unsure, but determined.
Gaborone made it all worth it. There, I met a local woman who runs an independent diamond trading company. She welcomed me with genuine warmth and professionalism.
The author visiting the Okavango Diamond Company, the rough diamond supplier, in Gaborone, Botswana
Through her, I was able to begin sourcing rough diamonds from Botswana, gaining an opportunity that has since become an integral part of Avalon’s supply chain. It’s connection that was not formed through a tender or high-level introduction. It was built by showing up, being present, and earning trust the old-fashioned way.
What started with a cancelled flight and an unfamiliar city became one of the most pivotal moments in Avalon’s journey, and in my own.
Learning to fly unaided in Angola
My journey into Angola wasn’t accidental; it was the natural next step in a network I had worked hard to build. After developing trusted relationships in Botswana and South Africa through consistency and follow-through on a few key deals, doors began to open. The people I had painstakingly built relationships with began vouching for me. One day, a call came: “You’ve handled things well here. Let’s introduce you to someone in Luanda.”
For me, that invitation was more than a business opportunity, it was validation. Angola is one of the world’s most important sources of rough diamonds, but access isn’t given lightly. It’s a market built on relationships, and reputation. I knew I was stepping into a space where had to be earned. I was determined to prove I belonged.
I flew into the Angolan capital alone. There were no family contacts to lean on — just a phonebook of introductions, a pocketful of lessons learned in Botswana, and the principles on which my my father had raised me.
At meeting after meeting, I introduced myself not as someone’s son, but as the managing director of a young and hungry company that had already earned trust in neighboring markets. To my surprise, I was received with openness. People appreciated that I wasn’t overpromising, that I listened more than I spoke, and that I had done my homework.
By the time I left Angola, I had secured new relationships. But what stayed with me most was the pride I felt walking into those rooms alone and walking out having built something new.
That trip reminded me that trust doesn’t come from legacy, it comes from showing up, again and again, ready to do the work. Angola gave me a chance, and I made sure not to waste it.
From trader to diamantaire
At just 20 years of age, I’m fully aware that I’ve entered a market built on legacy, not youth. The diamond industry is a space where reputation is earned over decades, not months, Most rooms I walk into are filled with people twice my age.
But I’ve never seen my youth as a disadvantage. If anything, it has pushed me to prove myself through action, not assumption.
Recently joining the Young Diamantaires group gave me a platform to connect with like-minded peers carving their own paths. Becoming a member of the Originalluxury collective and the World Diamond Council also marked major milestones, not just for me personally, but for Avalon as a company.
I was also grateful for the opportunity to share my journey and views on the current rough diamond market as a guest on the Jewellery Pod.
Looking ahead, everything I’ve done so far has been about sourcing, building relationships, connecting people, and laying the foundation for something bigger. But now it’s time to go deeper.
My next chapter takes me to Surat again, the beating heart of the diamond manufacturing world, where I’ll begin hands-on training in valuation, pricing, and the art of assorting rough diamonds. Understanding the technical side of the business is essential, not just to grow Avalon, but to earn true respect in this industry.
Sourcing is one part of the equation but learning how to see the full value and potential of a stone is what transforms a trader into a diamantaire.
On April 9, 2025, the author was hosted on The Jewellery Pod, a popular podcast produced in Dubai, which is presented by Krishna Raj. To view the video of the interview, click the image above.