Just Diamonds, a Birmingham-based supplier of diamonds, jewellery and gemstones with unique buying software, posted an 8% year-on-year rise in turnover in the second half of 2020, driven by both core and new product categories.
A decision by the company to supply small diamonds and melee, a recent addition to its product range, to manufacturing jewellers and workshops, boosted the company’s results, and sales of non-certified diamonds were also up.
“With an increase in headline sales and expectations of a rise in margins, Just Diamonds Ltd smashed through its previous four years’ results,” managing director Dinesh Parekh said.
“20% of total sales for July-December 2020 were attributed to sales of finished diamond jewellery, mainly bespoke but also our core range, such as our diamond solitaire earrings.”
Just Diamonds supplies high-quality ring mounts and finished jewellery, mainly bespoke items requested by customers.
“Despite the pandemic we have seen a good flow of new customers, many of whom could really develop their businesses with us,” Dinesh said.
Just Diamonds, which is a member of the NAJ, a supplier to the CMJ and is based in Birmingham’s Jewellery Quarter, has developed a 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. The platform can be easily integrated into the retailer’s own website or used in-store,” Dinesh said.
Just Diamonds’ software allows customers to choose from a wide variety of certified white polished diamonds, as well as certified coloured gemstones and lab-grown diamonds, for extraordinary value.
Sales of certified natural diamonds were down in the second half of 2020, as the pandemic had led to the postponement of some weddings, Just Diamonds said.
The company has seen a gradual increase in demand for laboratory-grown diamonds since adding them to its portfolio in response to growing customer interest.