Go Beyond the Vault for exclusive access to the jewelry industry like never before. Hosted by Colleen Rooney, Chief Corporate Affairs & Sustainability Officer at Signet Jewelers, this podcast shines a light on every facet of the industry – from ethical sourcing and sustainability to cutting-edge design and leadership. Join us every month for rare, unfiltered conversations with industry insiders, key decision makers and top jewelry experts. From the mine to the boardroom, we’ll take you across the globe, revealing the people, passion, and purpose shaping the future of jewelry.
Welcome to Beyond The Vault. I'm Colleen Rooney, Chief Corporate Affairs Executive at Signet Jewelers. You're in for a treat today. A godsend has appeared and her name is Feriel Zerouki. She's one of the first people I met, one of my most informative teachers.
Colleen Rooney:And you're going to get to know a little bit about Feriel. She just left De Beers after almost two decades, Chief Trade and Industry Officer. But she's done so much more for the industry. She's built community. She's been on the board of the Responsible Jewelry Council, which is where I met and got to know Feriel.
Colleen Rooney:She was the first female president of the World Diamond Council, shattering the glass ceiling ladies for all of us. She gets to give you some insight into why this industry is her passion and her purpose, thankfully. We get to hear some lovely stories about her beautiful family. Take a listen.
Voiceover:This is Beyond The Vault, the podcast where the jewelry industry takes center stage. We talk with the leaders shaping what jewelry means today. From craft to culture, to the moments that matter most, these are the voices shaping the future of the industry.
Colleen Rooney:Feriel, we're so glad you're here. We're in New York together, you know, in advance of of jewelry weekend. But tell us a little bit about how did you end up in this beautiful industry?
Feriel Zerouki:Well, thanks for having me. Look at where we are in beautiful New York with this amazing, backdrop. It's so incredible. So thanks for this wonderful experience. Yes.
Feriel Zerouki:How did I end up here? By total accident. I mean, I can't believe it sometimes. I have to pinch myself. I get that question so many times from people that are studying in the GIA, that are looking for a career in this industry.
Feriel Zerouki:But my truth is by total accident. You know, I studied mathematics and business management, and De Beers actually needed someone to be looking at mathematic modeling at the time. And so I started, believe it or not, as a supply chain analyst. I really enjoyed it. And, you know, I didn't know that I was coming in to work for a diamond business, which was the weirdest thing because the the the agency had called me and said, know, we're looking for an analyst, etcetera.
Feriel Zerouki:And I did all these different exams and I I and the company was called DTC, you know, and I I was looking into it and I'll that's when I figured out that d stood for diamonds. And I said, where'd you sign me up? This is this is for me, you know? And so that was number one. And it was a very it was very interesting because at that time, I was walking into a job.
Feriel Zerouki:But what I didn't realize now looking back, Colleen, is like I walked into a family, a community in this industry. I've met wonderful people, built really strong networks, and we are one big family.
Colleen Rooney:100%. 100%. And you know what? You, I think it it's a vocation for you. So for those that don't know Feriel, she's the first female president of the World Diamond Council.
Colleen Rooney:Feriel and I just met at the, when I first joined, and I was looking for help, a mentor, a teacher at the Responsible Jewelry Council. For you, this is really a purpose, isn't it? Like, how does this industry fuel your heart? And and tell us a little bit about that.
Feriel Zerouki:It is a purpose. I fell in love with the product first, and then I kept falling in love with this industry, with the people, with what we stand for, with the values that we represent. And one thing I knew when I started was I didn't wanna be stuck behind a computer looking at numbers and creating math modeling. So I I wanted to speak to people, the department that I was in was pretty secretive because I was also working on the Price Book, the most important IP of De Beers Group at the time. And I told my boss, I said to him, you know, I really wanna do something different.
Feriel Zerouki:I wanna speak to people. I wanna get to know the trade. I wanna work with a product. And that's when the opportunity arose where I moved into a completely different department. I knew nothing about ethics and sustainability.
Feriel Zerouki:And I started my journey there. So there was nothing in existence. There was no existing standard to say this is what good looks like or what bad looks like. We had the Kimberley process that had been operational for about, I think, six years at the time. And those were that was fantastic, actually.
Feriel Zerouki:The the more I learned about it, the more I thought this is an amazing, phenomenal achievement of the industry. Can you imagine a crisis of, Blood Diamond bringing everyone together across all the different countries, all governments into a church hall in Kimberley in South Africa, hence the name, the Kimberley process, and having them all agree on a set of rules that they as government have to comply with. I have four sisters. Having us agree on what we're gonna enjoy for dinner while we're out on holiday is mission impossible. So this was done in in in three years, and and we thought, okay.
Feriel Zerouki:This is great. Great for government. Now what do we as industry stand for? Yeah. And so how lucky was I to be able to hold Penn on the story of what good looks like for this industry?
Colleen Rooney:Well, how lucky are we, though, too? Because I wish you guys could see Feriel in action. Having that many people agree to agree or disagree on any given year is quite a feat, and you do it masterfully. What probably other folks don't know is you literally built what De Beers, corporate affairs function is today. So you you had close to twenty years at De Beers.
Colleen Rooney:Right? And so speak a little bit about your most interesting times at De Beers and what things that you're proud of that that that you've built.
Feriel Zerouki:There's so many things that I look back on, and I think, wow. We did that.
Colleen Rooney:Yes.
Feriel Zerouki:You know? We really did it. I think the one that the story that I'd like to share is one where throughout my career Yeah. As I working as I was working on sustainability, the NGOs would say to me, oh, but you can't tell me where your diamonds come from. And I would look at them and say, yes, I can.
Feriel Zerouki:I am the source. It's no big surprise. It comes from either South Africa, Namibia, Canada, or Botswana. Yeah. So I can tell you because I'm the source.
Feriel Zerouki:Yes. And they would say, no. No. We wanna know from which mine this diamond comes from. And I would ask them why, and they could never answer that question.
Feriel Zerouki:But unfortunately, this was always a critique that I was facing no matter what we did. And so one year, it was about 2014.
Colleen Rooney:Okay.
Feriel Zerouki:I started hearing about blockchain. Okay. And and it was very difficult to understand. So I started asking people about it externally, looking into it, reading every single piece of academia that was coming out or anything on digital magazines. And it was still very difficult to comprehend.
Feriel Zerouki:Yes. But I wrote a paper on blockchain and submitted it to the Board of De Beers saying, I believe that we will be able to use blockchain technology to trace a diamond through to country of origin and in future, maybe mine of origin whilst protecting the need to aggregate.
Colleen Rooney:Yes. I love this.
Feriel Zerouki:And aggregation is so important for our industry. You know, it's done at the mines. It's done at the manufacturers. You can't have a oh, I'm not wearing my tennis bracelet, but you can't be wearing a tennis bracelet with all these diamonds coming, you know, exactly from, you know, one mine. You need to mix it in.
Feriel Zerouki:And that was 2014. And then they said, great. What's this blockchain thing? And I said, well, think about the internet. Imagine me presenting the opportunity of the internet to you.
Feriel Zerouki:I would say, it's everywhere and nowhere. You can use it to book a trip, order your food, make a phone call. But you wouldn't be able to understand me because very hard to explain. Here, what we have with blockchain is a ledger, and it has one version of the truth. But we need to get the right people in the room.
Feriel Zerouki:I know the supply chain. We need the data analysts and the blockchain experts to tell us if this is possible. It's a hunch. And so that's exactly what we did. And in 2016, they let a couple of us out of the business where we just focused on blockchain and what we could do to provide this answer to where does your diamond come from.
Feriel Zerouki:And we created Tracer.
Colleen Rooney:But the earth of Tracer.
Feriel Zerouki:Tracer is the leading technology now for diamond traceability. So I'm very, very proud of that. But what most people don't know is while we were creating Tracer, my heart was actually concerned about who are we leaving behind with this technology. And artisanal miners in the diamond industry is a you know, it's about 15% of they represent 15% of global production.
Colleen Rooney:It's more than I thought, actually.
Feriel Zerouki:Yeah. And the problem is because it's artisanal, there's not much data out there. So my big concern was if we go down this digital route and every diamond is supposed to be on this blockchain technology, what are we doing to the production of those that are most in need of our support and our help if we call ourselves a leader?
Colleen Rooney:And? Yes.
Feriel Zerouki:And so at the time, that's when we created Gemfare. Yeah. And the the name Gemfare is a play. It's, you know, about being fair in this world, in this difficult world. And it's about gems.
Feriel Zerouki:And it's also about trading. It's like a fair trade. And so we I love that. Really, you know, told the board, if we do blockchain, tracer, traceability, we must do Genfare to bring people along, to leave no one behind. And how lucky were we that they said yes because, you know, our board had the same shared values.
Colleen Rooney:Well, and how lucky for the folks that benefit around the world. And I think you just launched a beautiful Jem Ferre product, didn't you recently?
Feriel Zerouki:We did, we did. I mean, when we launched the idea, we didn't know how we were gonna do it. People said, well, many have tried before and they couldn't achieve it. And what makes you so different? Yeah.
Feriel Zerouki:What made us different is we co created it with the artisanal miners. And we didn't launch a full product behind closed doors and say, oh, it's ready. No. We created it phase by phase with the artisanal miners. And, we now have this amazing mining community in Sierra Leone that are our friends, our family.
Colleen Rooney:Tell the story of what it's like going there. I remember you WhatsApp me from there. And, of course, I can't even imagine it, but give a little color to your trip there, how meaningful it was to you.
Feriel Zerouki:Sierra Leone is so beautiful. So before I'd ever set foot in Sierra Leone, I knew of Sierra Leone because of the Blood Diamond movie with Leonardo DiCaprio. Yep. That was my education. Yep.
Feriel Zerouki:And so I had these I had this idea to pick Sierra Leone because of that, because we could have started anywhere else.
Colleen Rooney:That makes sense.
Feriel Zerouki:We picked Sierra Leone, and we said, right. Let's go and visit it. And the first trip, I couldn't believe how beautiful this country Rural? Very rural? Or Very green.
Feriel Zerouki:Very green. And people were so friendly because they had been through the, I think, deadliest war in Africa for the longest of times. Oh my. And, you know, people want peace. Yeah.
Feriel Zerouki:And they were rebuilding. And so when we came in and we saw what the opportunity was and how peaceful people were, and I did the analysis on safety, there was no armed opposition. People just wanted peace. And and so we said this is great. This means that our team will be safe here.
Feriel Zerouki:And yes, they have been. We were working with the communities. We would meet with paramount chiefs first, and there would be a priest and an imam because a lot of it is Muslim and Christian and mixed. Wow. So you'd have the paramount chief, the imam, the priest, and you would come to an agreement.
Feriel Zerouki:And the first conversation was, what are you planning to do and when are you gonna build schools and hospitals? And I said, no, no, we're not here to be the mining company. We are here to be your partners. So if we're gonna build schools and hospitals, we're gonna build them together. Amazing.
Feriel Zerouki:You are my supplier. And, know, artisanal mining employs way more than large scale mining. And so from a sustainability perspective, job creation, connecting with society, it's it's a great opportunity for in countries where there aren't that many opportunities. And one thing that I learned was, you know, after the war, then there was Ebola. So every time they start building, there's something that holds them back.
Feriel Zerouki:And then after Ebola, as we started building, COVID hit. And while we were all in the safety of our homes, able to get food in, our guys were saying to us that they were calling it the hunger virus. Oh god. Oh god. Yeah.
Feriel Zerouki:Because the borders had been shut, so the price of rice went up by 400%. And I mean, it was it was painful. So we stopped the business, repurposed it, and turned it into supporting the whole communities with food security.
Colleen Rooney:Amazing, Feriel. I never knew that story before.
Feriel Zerouki:Yeah. It's it was it was it was It's
Colleen Rooney:a whole new dimension on responsible sourcing, doesn't it? Make it more responsible than that.
Feriel Zerouki:Absolutely. And then we went one step further. So we looked at all these areas where mining had happened in the past and they hadn't reclaimed it.
Colleen Rooney:Okay.
Feriel Zerouki:And because the soil was so rich and, I mean, it was so green, I said to the team, what can we do here? Yeah. Because we need to do good, but we need to make it make sense. And for it to be sustainable, it's not us that need to keep it up. And so we got a agriculture expert who looked at the soil and said, actually, this is quite fertile.
Feriel Zerouki:So what we can do is reclaim all these lands. Amazing. And then you can get crop. You can get rice, watermelon, carrot, tomato, of all types of vegetables. And we taught the women in the village how to create compost and how to cultivate those lands.
Feriel Zerouki:And therefore, now it's run by all the women. They feed there is no more any food security risk. They feed the villagers, and they sell the extra, and they protect the lands because that's their livelihood. That's fantastic. And they feed us now, so it's great.
Colleen Rooney:I really wanna buy some Gemfroir products now because I know the backstory, right? Let's talk about mentorship a little bit. You've mentored many. Purvi is also the new executive director of Responsible Jewelry Council. She's told me that you have been an incredible mentor.
Colleen Rooney:Talk about the importance of mentorship.
Feriel Zerouki:It's so important. When I joined the business, there wasn't that many women in leadership positions.
Colleen Rooney:I can only imagine. There really were not,
Feriel Zerouki:right? There wasn't. I had to find men to help guide me. But there are certain situations that of course it's not their lived experience, they're not going to understand. And they gave me advice where certain things would really frustrate me, they didn't sit well with me and so I didn't listen to the advice.
Feriel Zerouki:And I found that I would tell myself when I find someone to help, I will help because I will always remember that moment. And some moments marked me. And as I got more senior, I created a platform for other women to enter the business. And I helped, of course, and they helped me. They helped me.
Feriel Zerouki:It it was it was a it wasn't even mentoring. Sometimes it was just sponsorship.
Colleen Rooney:You built a community.
Feriel Zerouki:It was. It is. Because mentoring, I think, as women and men, if we need it, we'll ask for it. But what we really need is sponsorship. Yeah.
Feriel Zerouki:100%. Love that. Potential. Support us and have our backs, you know.
Colleen Rooney:So let's talk about your beautiful family just a little bit so folks can get to know a little bit more about you, Feriel. You met your husband in the industry. Do you wanna tell that story a little
Feriel Zerouki:bit? Did. I my lovely husband, Mahir, in De Beers. We had a meeting and we did not get along at all. That's hysterical.
Feriel Zerouki:We had a fight and I walked out of that meeting going,
Colleen Rooney:god, I
Feriel Zerouki:can't stand that man. He's one of his I can't stand him. He is. He's so nice, but he really rubbed me off the wrong way, you know. And he was in sales and I was in ethics and so we clashed.
Feriel Zerouki:And and, you know, he was persistent. He asked me out, and I didn't want to date someone in the office even though it was it predates the code of conduct. Yes. You know? Yes.
Feriel Zerouki:It was allowed. So you're covered. Yes. And and then one day, we were all in India, and I actually he did something there where I I looked at him differently, and I I I it was a mixture of him wearing me down and me actually, you know, looking at him in a way where he's just not a colleague. And I fell in love with him.
Feriel Zerouki:I believe when you know, you know. Yeah. I'm very direct like that. So I knew and the second I decided he was the one for me, he had no choice. So, yeah, so that's how we met.
Colleen Rooney:Do you mind sharing the inspiration behind your daughter Nora's name?
Feriel Zerouki:Yeah. So we named her Nora, and she's named after the Kohay Nor diamond.
Colleen Rooney:Amazing.
Feriel Zerouki:Nor also means light in so many different languages.
Colleen Rooney:I like that.
Feriel Zerouki:And she is the light of our lives. But I have to say to you that when she was little, grandmas would stop her on the street, go, oh, you're so cute. What's your name? And she'd look at them with her English accent and she'd, no. And they would say they would say, no.
Feriel Zerouki:What's your name? And she'd say, no.
Colleen Rooney:Oh my god. I love it. Oh my god. That's so funny. But now she loves it.
Colleen Rooney:I love it.
Feriel Zerouki:She loves it. It's just a beautiful name. And one day, I noticed they changed the name of the they changed the spelling of the Kohir Noor diamond. I got so upset, I wrote straight to them and said, that is the wrong spelling.
Colleen Rooney:Did they change it?
Feriel Zerouki:Yes, they changed it back at the Tower Of London. Of course, I'm not gonna let that one go.
Colleen Rooney:Oh my god. I wonder if Nore will end up in the industry one day.
Feriel Zerouki:You know, she knows she's grown up in diamonds, rough and polished diamonds. She's come to the office to understand where mommy and daddy go for most of the day. And one day she said to me, what do you do? And and I tried to explain at the dinner table and daddy tried to explain. In the end, we settled on something that she could easily explain, which is daddy makes a diamond dream and mommy protects it.
Colleen Rooney:Love that. That's fantastic. Fantastic. All right. One of our favorite questions on Beyond The Vault is, do you have a favorite piece of jewelry?
Colleen Rooney:Yes. And can you tell us why? Tell us what it is and tell us why.
Feriel Zerouki:I love all my jewelry, but this is this is definitely my favorite piece, my engagement ring. Oh my god. So I'll tell you why. It's the only prongless ring in the world.
Colleen Rooney:Are you kidding me?
Voiceover:Wow. It's an That means
Feriel Zerouki:that my diamond can That's see
Colleen Rooney:fantastic, Feriel. My ear really knows how to make a beautiful diamond, and you make the diamond dream.
Feriel Zerouki:There you go. So he designed this he designed this ring. It's a it's a it's got two hearts
Colleen Rooney:Okay.
Feriel Zerouki:That are the setting. You see one heart on that side Oh my and then another heart there. It's too romantic. Exactly. Wow.
Feriel Zerouki:And the and the heart sort of hold the diamond in. That's fantastic. But it dances inside, and I love it because I literally just sit there playing. Yeah. And he when he explained it to me, he said, you know, the the diamond's always moving.
Feriel Zerouki:One heart and and the the whole setting is one big loop, and it represents us. It represents the fact that love is always changing. I love that. It's ever changing, you know. And for me, I look at this and it's it's the beginning of my my my forever story with the love of my life.
Feriel Zerouki:So he has his story about the diamond. I have mine and the setting. And really, I am so in love with it because I thought I was going to hate it, Colleen. I don't know if I ever shared this with you, but we sort of I knew that he was gonna propose and I found a drawing.
Colleen Rooney:Oh, no.
Feriel Zerouki:And it had two hearts on it. Oh, no. And and I freaked out. I was like, no. I'm not a heart person.
Feriel Zerouki:I'm very classical. I do not want later on when I I I cut all these different rings, you know, images and left them lying around the house to make sure he understands I wanted a simple round diamond with a simple back.
Colleen Rooney:You weren't subtle at all,
Feriel Zerouki:were you? No. I did not want a heart shaped diamond. It and not to say it's not beautiful on other people. It's just not my style.
Feriel Zerouki:So I need a round brilliant. And that's so funny. So when he proposed and I saw that Yeah. You know, it was a round, I was very thankful and I screamed, yes. And later on, I realized that the heart had a Very subtle.
Feriel Zerouki:Yeah. Beautiful. I love it. Thanks, Mahihar.
Colleen Rooney:Okay. A big topic for you is sustainability. When I first joined Signet, we talked about sustainability as just responsible sourcing. But as you said, my ER makes the diamonds, and you make the Diamond Dream. What does sustainability mean in the industry today, and how has it shifted?
Feriel Zerouki:That is such a great question. You know, I would sit in all these panels, and I have witnessed the journey of responsible sourcing and then CSR, corporate social response, and then the keyword is sustainability. Right. And I've sat in panels where I'm listening to sustainability experts, but they all have such different definitions of sustainability. And so what does it actually mean?
Colleen Rooney:Exactly. You know? What does it mean to you?
Feriel Zerouki:So to me, I use my maths background to come up with my definition because there is no definition. Isn't that crazy? There was no definition. And so I looked at the way the world was going to measure sustainability was through the sustainable development goals. And then I looked at the way the policy around that was developing, and they were creating frameworks where you would need to measure your impact.
Feriel Zerouki:And they put that under what they called ESG, so your environmental, social, and governance. And so I worked with people from across jewelry. Yeah. So colored gemstones, diamonds, gold, silver, etcetera, in a room and said, okay, what does it mean for you? And so what we landed on, which makes sense to me, is if you can visualise a triangle.
Colleen Rooney:At
Feriel Zerouki:the bottom of the triangle is what we would call responsible sourcing. Makes sense. Okay. So more people can claim that. And what does it mean?
Feriel Zerouki:It means that you are meeting international standards, international law. You're not breaking the law. You're not doing anything that would be deemed not following the spirit of the law. Okay. And that's your g, your governance.
Feriel Zerouki:Okay. Right? And then if you think about the middle layer of that triangle, we said, okay, well, that's ethical sourcing. Why? Because we bring in the s of the ESG, the social.
Colleen Rooney:And
Feriel Zerouki:so you are, as a business, maybe you're meeting the law, you're going over and above the legal requirements when you're treating your employees to paternal leave, for example. I don't know what the law is here in The US, but let's say you give them six months because you're deciding that from a social perspective, you're gonna do that bit more, and that's what your company is gonna represent. And so that's ethics. Because in the dictionary, ethics is about morality. How do you define morality?
Feriel Zerouki:I have different morals to you. You might have different morals to me. But when you focus on the s of the ESG, the social aspect can be linked to that. And then sustainable is that top of the triangle. Less people can claim that.
Feriel Zerouki:Right. Real sustainability. Because what you have to do is take care of the governance, the g, the e, the ethic oh, sorry. The s, the the ethics, And then the e, the environmental. Yeah.
Feriel Zerouki:And so environmental longevity, meaning any type of impact that your business creates, you're gonna minimize that impact. And you're gonna do your best to make sure that whatever you've impacted is gonna be returned back to its state before your business starts.
Colleen Rooney:The carbon net neutral Yes,
Feriel Zerouki:to the best of your ability, right? So sustainability is not just about the environmental impact. Because you can't just be great with the environment and be awful with your employees. So sustainability is about us, the social, the governance, and the environmental.
Colleen Rooney:Yes. I love that, Feriel. It's all about inspiring love at the end of the day,
Feriel Zerouki:isn't it? Exactly. Yes. It's all heart.
Colleen Rooney:In the communities that we serve with our team and for all those that will follow us, hopefully, we're leaving a lasting legacy. I know you will your legacy is not being, is not finished. You have already made such an incredible impact. I know I cannot wait to see what you do next. You know I'll be calling you up every other day.
Colleen Rooney:But we're so grateful for you. We're so grateful for your leadership, for your values, for your passion. Thank you for being here, Feriel.
Feriel Zerouki:And thank you for being such a friend and a mentor to me.
Colleen Rooney:Thanks, Carly. I gotcha. Community. Community. Our community.
Colleen Rooney:That's neat to hear.