Sightholder partners with lab to boost retail business

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Sightholder partners with lab to boost retail business

July 01, 2008

Las Vegas—An Indian Diamond Trading Co. (DTC) sightholder is integrating American Gem Society (AGS) grading software into its Web site in an effort to draw more retail customers and shorten the supply chain.
Venus Jewel currently uses its own diamond grading system, but adding AGS' Performance Grading Software (PGS) to its Web site will allow the Mumbai, India-based company to sell diamonds online in a language retailers can understand, says Benjamin King, U.S.-based business developer for Venus.
In addition to the Four Cs, the PGS will show light performance and proportion factors for the selected stones.
Images from the Angular Spectrum Evaluation Tool (ASET), which depicts light performance, are available for round brilliants, with other shapes to follow. Only AGS retailers can use the services.
King says sales to manufacturers comprise 95 percent of Venus' business, and only 5 percent of its diamonds are sold to retailers. Venus Jewel is looking to change that through this new partnership, shortening the supply chain in the process, something the DTC is urging sightholders to do worldwide.
"The diamond supply chain needs to be more transparent," King says.
Venus Jewel, an AGS supplier member that was established in 1969 and launched VenusJewel.com in 1997, deals in 50-point and larger ideal-cut princess, emerald and round diamonds, all shapes that the AGS has the ability to grade.
King says Internet sales grew to 40 percent of sales in 2007, up from about 37 percent in 2006. He says he sees online sales continuing to accelerate, "especially in light of the current economy," with the cost of fuel continually climbing. Venus Jewel is also looking into teaming up with other labs as well.

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