In 1947 Antonio Busatti established himself as the first dealer of Japanese pearls in Italy. Nearly three decades later, his three children Luigi, Carlo, and Margherita joined him in expanding the business into fine jewellery and precious stones. With the 21st century came the third Busatti generation, now a consortium of cousins, which has dealt in delving furthermore into the many realms of high-end jewellery.
“When we joined, we took the jewellery business to a new level,” says Davide Busatti, a younger member of the clan and third generation representative of the Busatti family business. “All the Busatti pieces are one of a kind,” he explains proudly. “We are one of the only companies that is able to mix carbon fibre and gold in our designs.” The family’s specialty is combining modern and traditional materials to create an inimitable look for its jewellery. “We’re combining the best of the antique [sphere] with the best of new age technology,” Davide adds whilst enthusiastically handling an astounding Busatti bracelet.
Today, the Busatti family business is run by five cousins, each one of them thriving in a particular area of the firm. “My sister and my cousin are taking care of design,” Davide explains. While none of the family members is an active craftsman, they are working around the clock to run their business and come up with innovative approaches.
Family business trends dictate however, that it is the third generation, which is usually the last in a legacy. So what makes the five Busatti cousins perform together so efficiently while working to overstep this commonly held pitfall? “I work with my sister and my three cousins. We are trying to separate our areas of responsibility in order not to interfere with each other and to allow each one of us to pour our skills into the business. Each one of us is taking care of one particular area but everyone has access to all the information, just to be transparent.”
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This clear separation seems to cater to an efficient business environment and a warm working atmosphere, which each Busatti family member clearly cherishes.
“In our business trust is really important. Many transactions in the jewellery business are still based on the hand-shake principle,” opines Davide. “Once you lose your reputation, you lose it forever.” Due to the considerable sums often involved in a Busatti transaction, it is not surprising to hear that the level of confidentiality is paramount. Being a family business is helpful in this respect says Davide. “In a family business you know that people will not run away. I personally got into this business because I was driven and because it was great to take over fifty years of heritage.”
The Busatti family’s secret to success seems to be certain closeness within the family and the clear separation between the areas of responsibility in the business. The Busatti family business is a clear example of an effective collective of cousins who possess a future as bright as one of their signature baubles.
Concludes Davide, “Even though my father is not active in the business anymore, I see him almost every day because he lives right next to me. This is so great because I can still benefit from his wisdom while retaining a free hand in the business.”
Tharawat Magazine, Issue 19, 2013
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