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Michael Pollak and Steven Rosdal joined forces over 30 years ago as Indian jewelry traders. This entrée into the jewelry business parlayed into the successful venture called Hyde Park, which opened in 1976. Their story is a true "local boys make good" tale.
Both partners had plans of pursuing careers in science-Michael as a doctor and Steven as a veterinarian. Michael decided he liked "stuff" better than science and after meeting Steven, abandoned his original plans and completed his degree in retail merchandising. Steven, who graduated from Cornell, was trading turquoise and silver jewelry on the Navajo, Zuni and Hopi Indian Reservations.
The two met through a mutual acquaintance and after graduation, Michael joined Steven in business. They started the Turquoise Trading Company in 1972. Three years later they opened a manufacturing company in Albuquerque called the Silver Creek Company, which employed 60 people making silver jewelry. They had also become National distributors of the Alaska Silver and Ivory Company, which specialized in scrimshaw and Northwest art.
In 1976, recognizing the fading popularity of the already over-supplied silver and turquoise market, they decided to approach the market differently and selected a more contemporary approach to business. They opened Hyde Park with two employees. At that time, the most expensive piece of jewelry sold their first year cost $300.
Today, Hyde Park has locations in Denver, Phoenix and Las Vegas and carries items ranging from $50 to $500,000. Such an extensive range explains Michael and Steven's merchandising philosophy.
"We cater more to a lifestyle; a taste level, than to a price level," Michael notes. |
