Connect with us

Headlines

De Beers Invests in Gemist ‘Try-and-Buy’ Jewelry Brand

Gemist is backed by several well-known venture capital firms.

mm

Published

on

LOS ANGELES — Gemist, a U.S. based digital jewelry brand, has received an investment from De Beers Group Ventures. Gemist uses a “try-and-buy” technology that lets consumers customize jewelry and accessories online and then receive no-cost replicas of the pieces offline before completing the purchase.

“We are honored to partner with De Beers Group Ventures and look forward to working together to develop and grow the Gemist business,” says Madeline Fraser, founder and CEO of Gemist. “De Beers Group has an extraordinary legacy of authenticity, quality and sustainability, which are also key features of the Gemist brand.”

Conquering Inflation Part 4: Losing Customers
Slow Growth Business

Conquering Inflation Part 4: Losing Customers

Conquering Inflation Part 3: Cutting Costs
Slow Growth Business

Conquering Inflation Part 3: Cutting Costs

Retail Predictions for 2025: Opportunities and Challenges Ahead
Slow Growth Business

Retail Predictions for 2025: Opportunities and Challenges Ahead

The amount of the investment was not disclosed.

As part of the investment, Stephen Lussier, De Beers Group executive vice president, consumer and brands, will join the Gemist Board. De Beers Group will also work with Gemist on consumer engagement approaches, particularly with regard to responsible sourcing of natural diamonds.

“Gemist is a first-mover in offering Gen Z and Millennial consumers a unique shopping experience with fully customizable designs through a simple, engaging and fun platform – key features we know these consumers are looking for,” says Neil Ventura, executive vice president, strategy and innovation, De Beers Group. “We look forward to working with Gemist to share mutual insights as the business continues to grow.”

Advertisement

Gemist is backed by some of the most well recognized venture capital firms in the consumer space, including Legendary Ventures, Lightspeed Scout and Luma Launch.

“All of us are excited to work with the De Beers Group Ventures team to help grow the Gemist business and expand its innovative retail experience for jewelry shoppers around the world,” says Jayson Kim, general partner of Legendary Ventures and board member of Gemist.

Advertisement

SPONSORED VIDEO

Retiring? Let Wilkerson Do the Heavy Lifting

Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift. To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular