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Shloka Mehta's father, diamond tycoon Russell Mehta, on layoffs: 'Gave generous severance pay'
Diamond tycoon Russell Mehta, father of Shloka Mehta, heads Rosy Blue India.
Russell Mehta is best known to the Indian internet as the father-in-law of Akash Ambani. Mehta is a successful businessman who owns Rosy Blue India, one of the top diamond manufacturers in India. His daughter Shloka Mehta is the elder daughter-in-law of billionaire power couple Mukesh and Nita Ambani.
In a rare interview earlier this year, Mehta, 63, opened up about how the next generation has helped ensure that the family business is moving in the right direction. The diamond tycoon said that while he is emotionally attached to his work, his son Viraj helped him look at it more objectively, and cited an instance when the company had to lay off employees.
"While I am emotionally attached to my business and the people who work for me, Viraj, who is more practical and objective than I am, made me realise that there was excess baggage in the company that we needed to right size," Russell Mehta said in an interview with the Gem and Jewellery Export Promotion Council (GJEPC) in April.
Dinner table conversations on diamond business
"This posed a huge challenge for me as it was a sensitive topic. I reluctantly agreed, albeit with a heavy heart. However, I compensated by giving them a generous severance package. We also set up a help desk for career counselling sessions and funded courses for those interested in enhancing their skills for future opportunities."
It was Mehta's father, B Arunkumar Mehta who co-founded Rosy Blue over 50 years ago. In the interview, Mehta also recalled visiting his father's office in Mumbai's Zaveri Bazaar when he was a student.
“…there was no pressure from my father to join the business but to focus on studies as I was quite good at it. I did pass my BCom with flying colours in first class!” he said.
"But the dinner table conversations were always revolving around the business of diamonds, and that made it inevitable that I would one day join my father’s business. Those days, it was expected for the son to follow in the father’s footsteps.”
(Also Read: Shloka Mehta gives rare interview inside Antilia, recalls phone call that inspired her)
More about Russell Mehta's family
Russell Mehta is married to Mona Mehta. The Mumbai-based couple has three children: Viraj, Shloka and Diya. Shloka Mehta is married to Akash Ambani, the elder son of Mukesh and Nita Ambani.
The Mehtas are regularly seen at Ambani celebrations, with Shloka Mehta's sister Diya styling the Ambani bahu for many of the pre-wedding celebrations ahead of Anant Ambani and Radhika Merchant's wedding this year.
(Also Read: Anjali Merchant opens up about childhood for the first time: 'Grandfather in Oman, parents flew back...')
