Just watch me… beating the odds in a downturn

Al Rysko

“There’s a lot of quiet money in this town,” says Al Rysko. He should know. He’s waiting for a client to pick up his special order $300,000 Rolex.
Al Rysko has been surrounded by watches and beautiful jewels since the age of four. He’s now the owner of Swedish Jewellers, which is currently celebrating its sixtieth year of operation. For three generations, it has been part of his family. His dedication to perfection is reflected in countless precisely cut and set precious stones that grace the store’s expansive downtown location in the historic Moser Ryder Block. Swedish Jewellers is known for bringing the Rolex brand to Edmonton in the early 1950s. In the late ’70s, Rysko’s uncle, Ted, who had worked as a watchmaker, took over the business. And since that time, Rysko has been fascinated with the inner workings of watches; he started fixing clocks when he was 11 under the tutelage of both his uncle and father, Anatoli. As a teenager, he worked with smaller time pieces and enjoyed “turning a dirty old watch into a new masterpiece and seeing the joy on a customer’s face.” After years of learning from his mentors, Rysko became Swedish Jewellers’ owner in 1992 and expanded it three times in three different locations, culminating in the current 10,000 square foot space. He’s gone from working with small timepieces with 50 to 75 parts to complicated Rolex watches with upwards of 200 components. Over the years, Rysko has seen many repeat customers whose children eventually became patrons as well. Some were just a few years old when they first accompanied their parents to the store and now, this second generation also enjoys marking special occasions with a purchase from Swedish Jewellers. “I am a third generation businessman and I’ve seen the generational transition with my customers. The service we provide is more than just monetary. It’s amazing to serve these customers and know that someday their children may become customers of my children.” Rysko’s eldest daughter, 17-year old Carissa, is showing serious interest in becoming part of the family business upon completing an international business degree from the University of Alberta. He’s is proud and excited by his daughter’s involvement. With five other daughters ranging in age from three to 14, he muses: “Perhaps, we’ll have six locations of Swedish Jewellers eventually.” From her father, Carissa is learning the importance of dedication and persistence through both the good and the bad times. As with any business, Rysko says, Swedish Jewellers has experienced both economic highs and lows through the course of its 60 years in operation. However, throughout it all, the business stayed strong, something he credits to consumer attitude. “Edmontonians have resilience.” Rysko recalls the early 1980s when Albertans were still reeling from the NEP-induced recession. “I was working with my dad and started a new retail store in a mall in 1983. I didn’t even feel the recession… those were our best years. By 1989, the store was debt-free, my house was paid off, and I treated myself to a very expensive car.” Recognizing that the Alberta retail sales figures are flat, Rysko points to his August fiscal year-end figures. “We’re down one percent from last year… that’s pretty good. Our clients remain the force of power… they are extremely loyal. There’s a lot of quiet money in this town.” Overall, he attributes Swedish Jewellers’ success and longevity to being dedicated to fine workmanship and personalized service. “Because I am a trained watchmaker, I appreciate the quality of craftsmanship we produce here. The sense of pride that’s attached to the work is valued by our customers.” It takes a full year of exacting materials and production to complete one Rolex timepiece and to perfect the oscillator movement, the heartbeat of every Rolex. The store carries a stunning selection of Rolex watches, ranging in price from $5,000 to $60,000. Since its inception, the business has added nearly 50 renowned brands, with pieces reminiscent of the jewels that bedeck Hollywood celebrities and adorn models on the runways of New York and Paris. Along with carrying internationally recognized, prestigious brands like Hearts on Fire, Chopard and A-Link, known for their precisely-cut diamonds, the store creates custom designed pieces limited only by the customer’s imagination. Rysko recalls a particularly stunning necklace, containing over 200 diamonds and a ruby centrepiece. The necklace was a gift from a husband to his wife in celebration of their fortieth anniversary. He says it was an honour to be part of such a milestone in their lives. “They are a great couple and, since I’ve known them for several years, it was amazing to create something to celebrate such an important occasion.” A business, according to Rysko, “needs to have balance; business owners should be dedicated to their craft and also dedicated to customers and the community.” The company is involved in numerous charities throughout the year. And, in honour of Swedish Jewellers’ milestone anniversary, he donated a portion of November sales to children in need. “As a father, I have a kind heart towards children, especially since there are those in the world that are ignored or abused. So, it’s our endeavour to keep doing what we can.” √