LONDON, June 15, 2018 /PRNewswire/ --
London Diamonds, a new diamond dealer based in Covent Garden, has announced that it will supply the same diamonds as the world's best known boutiques - at very different prices.
In an industry notoriously sensitive about discussing margins, this will give customers the opportunity to invest in diamonds or create bespoke jewellery more efficiently than previously possible.
The business was born when one of the founders, Andrew Reynolds, discovered the true trade value of his wife's engagement ring and made it his mission to change the diamond business for the better.
The first hurdle was being able to work with the same Belgium and Mumbai based suppliers as the world famous brands they were competing with.
"These suppliers are very choosy about who they work with," says Reynolds. "They know they have the best cutters and polishers, so it was vital that we were able to work with them. It took two years of planning, but it was worth it."
According to Reynolds, "The value of any diamond is derived from its grading and certification, not the brand that sold it. The idea that diamonds sold in plush boutiques are different or 'special' has been used for decades to justify higher prices. It's a myth we are very happy to dispel."
Research from leading management consultancy Bain & Co showed that online diamond sales are climbing as consumers accept that buying certificated diamonds online can be done safely. Conversely, major jewellery retailers have seen sales fall.
London Diamonds' aim is to fill the void between the two. Every piece is handmade in London and every customer receives hand drawn pencil sketches, CAD drawings, and animations for their approval before committing to the final build. Customers are also able to visit the workshop to collect their finished pieces if they wish.
Alternatively, those wishing to buy loose diamonds for investment purposes can have them delivered to their home via fully insured courier. To date, London Diamonds have served investors and customers from 14 different countries.
Follow their journey on Instagram here.
"Supplying the world's finest diamonds at margins low enough for investment."
SOURCE London Diamonds