Just Diamonds reports record results driven by new customers
March 3, 2020
Just Diamonds, a Birmingham-based CMJ supplier of certified diamonds with unique buying software, has reported record results in its fourth year of trading driven by new customers, with turnover up 9.5 percent year-on-year in 2018/19.
“With an increase in both headline sales and profitability, Just Diamonds Ltd smashed through its previous four years’ results with all-time high figures,” said managing director Dinesh Parekh.
“The last 12 months have seen the business acquire a good flow of new customers — the majority of whom have the possibility to really develop their businesses with us.
“In the first 6 months of 2019/2020 we exceeded the turnover of the whole of 2016/2017.”
Just Diamonds, which is a member of the NAJ and is based in Birmingham’s Jewellery Quarter, has developed a unique business model centred on its web-based diamond selector platform.
“The platform makes the selection of diamonds incredibly simple for the jeweller, and software can be ‘white labelled’ to suit the needs of the company. Our motto is ‘keep it simple, keep it smart’ (KISS),” Dinesh said.
Just Diamonds’ software allows customers visiting a brick-and-mortar jewellery shop to choose from a huge variety of certified white polished diamonds for extraordinary value.
Most of the certified diamonds offered by Just Diamonds, have GIA reports. Some stones are certified by IGI, or HRD, and the range includes some EGL-certified diamonds.
A decision by the company to supply small diamonds and melee to manufacturing jewellers and workshops has boosted the company’s results, Dinesh said.
Just Diamonds has started to supply UK and EU-based companies, targeting small businesses such as manufacturers and workshops.
Dinesh has travelled to India and Hong Kong, established a network of supplier contacts, and increased the company’s range of diamonds on offer, all at highly competitive prices.
“We purchase all of our stones directly from the major diamond dealers/polishers and manufacturers around the world rather than from local merchants, but we realise we need to hold stock. We have over 300 certificated diamonds currently in our inventory,” Dinesh said.
“By doing this, we have managed to garner the purchasing power of much larger companies.”
Just Diamonds has added laboratory-grown diamonds to its portfolio in response to growing customer demand.
“We understand that the consumer demands variety, choice and price,” Dinesh said.
“With that in mind, we have added laboratory-grown diamonds to our portfolio, and soon they will be available on our platform.”
Just Diamonds also supplies high-quality ring mounts and finished jewellery, mainly bespoke items requested by existing customers.
“We are happy to work with all UK-based mount suppliers where we offer a free collection/delivery and setting service if the diamond has been purchased from us,” Dinesh said.
“This gives our customer the biggest choice with unlimited restrictions.”