JWA 2021 Jewellery Industry Best Practices

VN Diamonds continued to excite the market by creating different shapes and cuts that appealed to its target customers. “Potential buyers flocked to social media where they expressed a growing demand for designer diamonds that are bigger in size, unique in shape and lower in prices,” he says. In response to this trend, the brand introduced the “pie- cut” or “combination cut” diamonds that are priced up to 80-90 percent lower than their conventional counterparts. The company collaborated with designers from some of the world’s largest retailers to transform these stones into customised, marketable and well-designed jewellery items. Moving forward, this JWA Honouree is developing a website and mobile app that will use artificial intelligence and virtual reality for the benefit of online consumers. AGILE ORGANISATION Powered by the team’s deft skills in bargaining for good prices, offering financial advice to clients and designing custom- made pieces, the company now thrives in the new normal. Revenues for 2021 jumped by 25 percent, driven in part by the addition of new customers from Cambodia, Israel, Belgium, Australia and the United Kingdom. It also ended the year withexcellent satisfaction ratings, more repeat transactions, a larger social media following and the inclusion of new products in its portfolio. It is not all about business, either. Aside from retaining the services of all its employees at the height of COVID-19, the company donated masks and sanitisers when there was a shortage of medical supplies in Hong Kong. It also continues to distribute food to homes for the blind, various orphanages and animal shelters. In recognition of its sterling achievements and practices, the International Colored Gemstone Association accredited VN Diamonds as an ethical buyer and seller of precious stones. It was also given an award of excellence by the GemResearch Swisslab AG. Of all these accolades though, there is one that VN Diamonds holds closest to its heart. “The best recognition comes from customers who value our efforts and trust us with their requirements. They inspire us to pursue innovative ideas that helped us adapt to this new business environment,” says Maheshwari. 1. Fancy yellow diamond rings embellished with fancy-cut white diamonds 2. VN Diamonds CEO Vipul Maheshwari 3. Ring with a fancy blue diamond centre stone surrounded with fancy-shaped white diamonds 4. A buyer examines a jewellery piece at VN Diamonds 3 2 4