Introducing Nika Diamond-Krendel, Founder of Paradise Row
meet nika diamond-krendel, founder of paradise row. known for their high quality, contemporary leather goods designed to elevate and add luxury to everyday living. Paradise Row only uses sustainable materials including recyclable packaging and the finest vegetable tanned leather from ISO certified tanneries in Belgium and Italy.
“Thanks for interviewing me Lottie! I am the founder of luxury brand Paradise Row which specialises in leather goods. We recently launched with GOOP as part of our US expansion last Christmas. We also have a B2B department, supplying leather goods to hotels, restaurants, offices and interior designers as well as working on bespoke collaborations and corporate gifting. I am a mother to a four year old boy, I am of Persian descent and I am incredibly passionate about women in business.”
Can you share the inspiration and ethos behind your collection?
The brand was inspired by the history of manufacturing, textiles and leatherwork in London and the emerging creative scene we see in the city today - the brand reflects the tie between the two. The collections are inspired by my personal interests; culture, psychology and the arts.
Your background is in management consultancy, how did this help you in building your business?
I think it has helped my professionalism. How to present, how to pitch and how to communicate to teams, clients and partners. I knew one day writing all those decks would come in handy!
What do you enjoy most about your work?
I enjoy bringing people together to produce the best work. I love coming up with ideas to push the brand further. I also love working with big ticket clients in the hospitality and creative industries.
Have you encountered any challenges as a brand, and how were they overcome?
So many! I have been threatened with legal action by a world-renowned brand and won, I’ve had a bigger brand imitate a product. I’ve had issues with employees. I have pulled the business through a pandemic whilst raising a new born at the same time and I have felt burnt out. I don’t know how I’m still here to be honest, like the Pheonix rising out of the ashes! Many of these challenges test your mindset and ultimately you become more and more self-aware; it also forces you to focus on your own self-development. The challenges are always overcome by stepping out of your tunnel vision and looking at it from a different perspective.
What are some of the most exciting partnerships and projects you‘ve worked on to date?
Recently it has been with Taylor Howes, a renowned interior design company on their Knightsbridge Gardens project, a 30-apartment development in Knightsbridge supplying leather tableware. Additionally, I’ve loved launching the leather tennis set of a leather racquet cover and ball holder with GOOP. We’ve done B2B projects with Edminston, a yacht chartering company and Bryan O’Sullivan, who has recently designed the interiors of The Connaught Red Room and The Claridges Painter’s Bar. And we have lots more partnerships planned for 2024, we’re currently producing menu folders for star chef Claude Bosi’s new restaurant in Chelsea and have 3 new hotel clients we’re currently developing products for.
You are a strong women’s rights advocate, can you tell us more about the importance of the Women Life Freedom movement?
I think being of Iranian/Persian descent, I always felt a deep shame and I didn’t understand it until I realised that our mothers' generation has been oppressed for 45 years and that it has trickled down to how my generation was raised. The Woman Life Freedom movement is our generation saying enough and demanding equality for Iranian women. There are currently 100s of laws which class women as second class citizens from losing custody of your child when you divorce to asking permission from your father or husband to get a job. The impact of this is felt by Iranian women across the diaspora, creating issues with self-esteem, self-worth, confidence and mental health.
Art and culture are strong influences in your life, what are some of your favourite artists in your art collection?
I have two pieces from Oh De Laval. I just love her work. She is incredibly smart at showing the darker side of society brushed with a comical viewpoint. I also love Juno Calypso who shows the inner conflicts of womanhood. Venetia Berry's work also reflects on womanhood, inverting the male gaze. I also love Jessalyn Brooks, an artist from LA who also happens to be a jazz singer, something you can see references to in her work.
WEALTH
Describe your relationship with money and personal finance?
Personal finance whilst building a business from the ground up is a contradiction! However what I’ve realised is the more I spend, the more I want to earn and win business. The more I restrict spending on myself, the less I succeed in acquiring more money. Make of that what you will.
What does Wealth mean to you?
Ultimately it means freedom and no limits for me. No demands on time or place.
How do you manage your day-to-day money?
Just banking apps at the moment I’m afraid. However, I hear the Money Box app is good! Rounds up your spending and invests for you. 2024 is the year of abundance for me so I’ll update you at the end of the year!
What have been your main resources for developing your confidence with money?
Being in business has taught me to appreciate my personal worth which has, in turn, given me confidence with money. Even if you don't want to run a business, having a side hustle is a great way to develop confidence with money and in yourself! Also from an unbiased point of view here, of course, I believe The Dura Society is a great resource.
What was your first investment, and where is it now?
First investment was in the property that I still own today. But I am ready to expand my portfolio.
What is your number one financial priority?
As incredibly unglamorous as it sounds, a pension fund. Can we make this feel more glamorous? Also the buzz phrase of the moment, passive income.
Which area of finance do you wish you knew more about?
Investing in small businesses, angel investing, stock market, FTSE, crypto, the list goes on.
WELLNESS
How do you start your days?
5.30am wake up, no, just kidding. I’m not here to bullshit anybody. The balance between running a business and parenthood is hard. Although, I must make my bed, the usual ablutions, get my son ready and take him to nursery, then replying to emails whilst on the treadmill to get my 10k steps in (most days!) at my new favourite place @thirdspace
What was your first job?
Working behind a bar. That first £100 made in tips over the weekend was glorious. Never felt prouder of myself.
What is the most important life lesson you have learnt?
Don’t compromise your own life for the satisfaction and convenience of others.
What is your most treasured possession?
I don’t have one I don’t think? Even with the sentimental things, the memory of it means so much more. I am a minimalist at heart. I value freedom to do what you want and when you want, over material things. It doesn’t mean I don’t enjoy them, I just don’t attach myself to them!
Which element of your life do you feel most secure in?
That I love to be kind.
What’s next for you?
I want to help women. On a podcast, On TikTok? But before doing that I’ve got to figure it out myself. Watch this space…
What are you currently reading and listening to?
In this exact moment - Listening to the The Jay Shetty Podcast with guest Emma Grede and reading The Cypress Tree by Kamin Mohammadi, part novel, part memoir of a girl who emigrated to the UK during the Iranian revolution and then her journey back home to rediscover her Iranian self. Sounds familiar.