Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
De Beers Invests in Online ‘Try-and-Buy’ Jewelry Company
De Beers executive Stephen Lussier will be joining the board of Gemist as part of the deal.
Los Angeles—De Beers Group Ventures has invested an undisclosed amount in online jewelry retailer Gemist, which aims to carve out a niche in the market with its “try-and-buy” technology.
On Gemist, customers can dream up a custom design online and then receive a free replica of the piece, letting them give it a spin before completing the purchase.
The site sells both fine and fashion jewelry; there are silver, gold-filled, or 14-karat gold pieces with gemstones including diamonds, emeralds, and blue or champagne-colored sapphires, or Swarovski crystals.
Offerings include engagement rings, stackable bands, hoops, and huggies.
Entrepreneur Madeline Fraser, a one-time contestant on CNBC’s “Shark Tank,” started the Los Angeles-based company.
As per her LinkedIn profile, Fraser was also a co-founder of interior design platform Zoom Interiors and the Hutch app, a mobile app that lets you see furniture in your house virtually before buying it.
“We are honored to partner with De Beers Group Ventures and look forward to working together to develop and grow the Gemist business,” Fraser said in a press release announcing the partnership.
As part of the deal, De Beers Executive Vice President Consumer and Brands Stephen Lussier will join the Gemist board.
The company will also collaborate with Gemist on consumer engagement, with a special focus on the responsible sourcing of natural diamonds.
“Gemist is a first-mover in offering Gen Z and millennial consumers a unique shopping experience with fully customizable designs through a simple, engaging and fun platform—key features we know these consumers are looking for,” said Neil Ventura, De Beers executive vice president of strategy and innovation.
Other investors in Gemist include venture capital firms Legendary Ventures, Lightspeed Scout, and Luma Launch.
The Latest
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Despite the rising prices, consumers continue to seek out the precious metal.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.