Leveraging the current so called ‘awareness’ spreading across the country for online buying, the next generation of entrepreneurs coming from an established retail & manufacturing family background are definitely the thought leaders willing to pioneer the new channel of sales for their business over Internet and with all that time, money, skill, and knowledge it can really be a good move. Well none the less its business.
On this recent trend Varun Godha, family member of Shantivijay Jewels (a multi-million dollar organization in diamond jewelry manufacturing, listed in BSE since 1995) has started a diamond & gemstones jewelry etailing business Diamondére.com, to sell the products directly over the net with ‘Shantivijay Jewels’ as Manufacturing partner. He says, “It will save the cost for the buyer as the markup is only 20-50% as compared to 200-500% markup in otherwise route.”
The website provides ‘Mass personalization’, which means one can choose the design, the Stone (12 Options), Metal (7 Option) and engraving, and can actually see how the product permutation will look like with real time imaging and pricing, virtually making the catalogue big enough. Though personalization may not be a new feature as similar is offered by many others too, but the difference can be cataloging and use of technology.
“We just take the order as per the customization produced by the buyer and manufacture it thereafter. Normally it takes 2-3 days to manufacture it but maximum it will take 7-10 days to get shipped” says Varun, CEO & Co-Founder, Diamondére.com. “With online shopping ever expanding in the country and jewellery segment going strong, we decided that it was the best time to merge the two and provide our customers an exceptional shopping experience. Diamondére.com is a unique platform where the buyers can experiment from a plethora of options to get the latest in fashion jewellery with a touch of their own thereby addressing the basic human desire to customize”, adds Varun.
Diamondere has also invested considerable in the backend and technology and had setup a complete factory to manufacture the units on large scale for online demand. Well online retailing of diamond is something which will follow its own mechanics, but what may seem interesting is the idea of customization which can be applied to offline stores too where a customer has to just walk in and design a product on an ‘ipad’ and order it and then why not they will do online?