GemCloud has announced the launch of a new traceability section dedicated to traceable colored gemstones on their platform, Gemolith, the first B2B curated colored gemstones marketplace.
In the current global context where consumers focus on a growing demand for transparency of the product’s journey, Gemolith is responding by being the first digital marketplace to pioneer traceable colored gemstones.
Gemolith will have a specific section filtered through an “advanced search” and dedicated to traceable gemstones, starting with an exclusive selection from Greenland Ruby, only available on Gemolith.com.
Image credit: GemCloud
“Gemolith aims to become the digital showcase of best practices in the colored gemstones industry” declares Veronica Favoroso, GemCloud’s CEO. “We want to enable our vendors to be recognized for their efforts in procuring traceable gemstones, give visibility to companies who are implementing traceable solutions and help to give back to the local communities. All the jewelry designers that we have already onboarded are very excited as this is responding to their current need. They can have access to the world’s gemstones only with one click and get live information about them”.
The first traceable gemstones to be available on Gemolith.com are rubies and pink sapphires from Greenland. The gemstones come from the Greenland Ruby mine in Aappaluttoq. They are unique and their inclusions tell a story of a 3-billion-year journey through time and temperature. The colors range from deep red to lighter shades of pink.
“Greenland Ruby and Gemolith are a perfect partnership, with both companies having responsibility and sustainability as their core values. Together we promise to bring authenticity and provenance to the gemstone marketplace, while offering an innovative and creative customer experience in addition to our rare and beautiful gems.” says Magnus Kibsgaard, Greenland Ruby’s CEO.
Greenland Ruby officially opened their mine in 2017 in an icy landscape in the southwest of Greenland. These gems are believed to be the oldest on Earth, while the mine and processing plant is the newest and most sophisticated in the colored gemstone industry. Each gemstone is traced from the mine to the marketplace, thanks to the GemCloud business management solution.
All gems are mined, cut and polished adhering to responsible environmental, social and governance practices, and come with a Certificate of Origin, approved by the Government of Greenland which validates the claim of provenance.
The Government of Greenland has been deployed with a GemCloud software which enables them to have visibility over Greenland Ruby’s global inventory and digitally tag gemstones as having been audited once physically checked.
GemCloud’s commitment to responsible sourcing and traceability drive the company into full engagement with the Pink Polar Bear Foundation, an initiative by Greenland Ruby to support international polar research in all disciplines, especially supporting the inhabitants of Greenland (humans, animals, and vegetation) affected by climate change and accompanying cultural changes.
As a contribution to the Pink Polar Bear Foundation, and by becoming a partner of the Foundation, GemCloud will offer a percentage of the sales of cut and polished Greenlandic rubies on Gemolith.com
With Gemolith, jewelers just started a trip back to the mine.
“Today 3 out of 5 jewelry brands we speak with are asking to know the provenance of gemstones and to learn more about the story behind them. This is helping us to persuade the upstream supply chain about the importance of disclosing information and implementing good practices. “continues Veronica Favoroso. “It is our goal to support the colored gemstone industry with more responsible sourcing, and to enable consumers to learn about the whole journey of the gemstones they purchase.”
GemCloud is working to add more and more traceable gemstones over the next few months, as part of a wider program to promote transparency and traceability, developed together with TDI Sustainability.
“Coloured gemstones are the result of complex geological processes, which make each of them unique and the perfect luxury product. However, their origin often makes for a rather different story. Aware of the challenges of gemstones mining, consumers today demand stones that are not only beautiful, but also responsibly sourced. This project is a first but important step in this direction, and we look forward to unveiling more of our partnership with GemCloud for a transparent gemstones supply chain.” says Assheton Carter, CEO of TDI Sustainability.
Gemolith is the first B2B curated colored gemstones marketplace powered by GemCloud, showcasing over 10,000 gemstones of 28 different types. Gemolith is servicing international jewelry brands and manufacturers, jewelry designers and retailers.
GemCloud is a tech company based in Hong Kong, with subsidiaries in Bangkok, Thailand, London, United Kingdom and New York, USA, developing software tailored for the stakeholders of the gemstone industry. Amongst the signature products, GemCloud offers business management software for mining companies and gemstone traders.
Greenland Ruby is a new and responsible source of rubies and pink sapphires in Greenland. Located at the oldest corundum deposit on earth, the mine operates a highly sophisticated processing plant, and gems are produced under the strictest of Northern European regulations with human rights, labor, environmental, mining and product disclosure held to best practices. Greenland Ruby is a member of the Responsible Jewellery Council and is undergoing its first independent audit. Each Greenland Ruby gem is traceable from mine-to-market and comes with a Certificate of Origin. Learn more at https://www.greenlandruby.gl
TDI Sustainability is an international consulting firm working with companies in the luxury, electronics, automotive and energy industries along the entire value chain, from mine to market, to build responsible supply chains that work for people, business and the planet. TDI services range from strategic consulting in the boardroom to impact projects on the ground. Through its sister organization The Impact Facility, TDI works to catalyze positive change within gold and colored gemstones artisanal and small-scale mining (ASM) communities around the world. www.tdi-sustainability.com
Image credit: GemCloud