A FAMILY BRAND

Francesco De Simone & figlio was founded in 1855, based on business experience and a passion for coral and shells displayed initially by Francesco and later on by Michele De Simone. It was a ideal match between father and son, aided by the acumen of Michele who, before setting up a craft workshop at Torre del Greco, devoted himself to buying and selling coral and cameos. Michele was eclectic and extremely bright, leaving nothing to chance. He travelled the length and breadth of Italy, keeping on good terms with foreign wholesalers and searching constantly for raw materials to be worked by the master engravers and craftsmen of Torre del Greco. 

His wealth of knowledge and professional expertise helped him to build up a commercial network, initially with American firms, then later with firms from Japan and finally from England. Michele’s wife Raffaella Palomba had an instinctive business sense and would prove to be the strategist in the success of his business. The daughter of a leading coral merchant of the period, donna Raffaelina was beautiful, determined, stubborn and endowed with excellent managerial qualities; she immediately became the sharp-witted coordinator of the De Simone firm. Raffaella and Michele were married in a chapel in Torre del Greco on 14th August 1911, ten months after the death of Francesco. He died in October 1910 at the young age of 55 after going on a crash diet. Shortly after getting married, the De Simone husband and wife team decided to move to New York to strengthen their relationship with American firms. While the Torre del Greco office was run by Vincenzo Palomba, Raffaelina’s father, the married couple moved to America and set up a new office at 59-61 Maiden Lane.

ANOTHER SCOURGE

Ten years later, yet another catastrophe befell the family. With the risk of war between Italy and England now imminent, Michele was forced to leave London and return home. He had to leave his belongings in his Chancery Lane office in Hatton Garden. But it was a small price to pay to save his life and avoid falling into the clutches of the English who had now become the enemy. Don Michele was forced to flee empty handed.

‘BLACK THURSDAY’ ON WALL STREET AND THE DIAMOND BROOCH

In October 1929, with their house still under construction and the instalment payments due, the stock markets crashed. Black Thursday on Wall Street marked the beginning of the Great Depression of the 1930s. Commerce virtually ground to a halt. Unemployment rose, and the threat of poverty loomed over the world’s population. In this tense, poverty-stricken climate, the De Simone family also risked losing everything. The firm, the unfinished apartments and the fortune they had accumulated over a lifetime of sacrifice were all at risk. Raffaella rose to the occasion and once again proved to be an able leader. To save her husband from ruin, she had no hesitation in selling her jewellery and, in particular, a diamond brooch that Michele had given her on the eve of their wedding. This precious jewel – the symbol of their love - had a priceless significance for the couple; the diamonds had been selected from the most beautiful available, and set aside for Michele’s future wife during all the foreign business trips he had made when he was a young man. But at least this sacrifice was enough to save their house and the firm.

WAR REPARATIONS

Don Michele did not manage to return to London until 1946. But Hatton Garden, the prestigious jewellers’ district where the Michele De Simone & Company had had its base, had been reduced to a heap of rubble. Nothing had escaped the German bombardments. It was a bitter pill for Don Michele to swallow but he accepted the damage in silence and tried to start from scratch once again. A few weeks later Don Michele, who meanwhile had returned to Italy, met a young lawyer by the name of Raffaele Torrese in his native city. He confided in him and told him about Hatton Garden, the rubble that had deprived him of his fortune and his despair at the sight of seeing the fruit of his labour in ruins. The young man suggested applying for compensation from the government. It would involve a long and complex procedure which Don Michele was initially reluctant to contemplate. In the end, however, he was convinced by the bright newly-qualified lawyer and left the matter with him, promising him half of the money if he managed to win the case. Due recognition for the young lawyer’s determination was to arrive many years later, partly thanks to the help of Mr. Friedline, a Jewish jeweller who had no hesitation in giving evidence on behalf of his Italian colleague. For Don Michele and his wife, this symbolic reimbursement represented a symbol of continuity: from its origins as a craft workshop, the Michele De Simone & Company had developed into an international import/export company specialising in coral, cameos and tortoiseshell.