(PRESS RELEASE) NEW YORK – While Liquid Diamonds, a business-to-business diamond sourcing platform for jewelry and diamond industries, relies upon patented technology to achieve the best results for both their buyers and sellers, it is the incorporation of customization that sets them apart from their competitors. The tech start up is determined to bring price transparency and liquidity to diamonds, upending the decades-long archaic system that is both secretive and convoluted, benefitting neither diamond buyers nor sellers. Liquid Diamonds works with individual clients to solve challenges faced by many companies, yielding overarching solutions which drive business on a greater level.
CASE STUDY: Jewelex
Challenge: Jewelex was looking to streamline the buying process to fulfill orders for a big box retailer which included a large quantity of diamonds with specific requirements. While they had access to a myriad of diamond manufacturers, Jewelex rarely purchased from the broader diamond market due to the cumbersome and tedious process of dealing with multiple smaller suppliers.
Solution: Utilizing Liquid Diamond’s patented reverse auction technology, the company was able to put hundreds of smaller and medium-sized diamond suppliers into competition with each other, ensuring that Jewelex was able to access the long tail of supply and get the best prices in one cohesive space. With Liquid Diamonds constantly monitoring the diamonds available from suppliers’ inventory, Jewelex had first access to the stones they needed, allowing them the opportunity to eliminate their need to keep a large, general inventory, and source the specific diamonds they needed to fulfill their orders.
Result: “Liquid Diamonds’ platform blends the old and new world of buying, so we get the right goods at the right prices,” shared Nirav Doshi, of Jewelex. “We are seeing the freshest goods the fastest because of the platform, making the buying process for certified diamonds a lot more efficient.”
CASE STUDY: Belgium Diamonds
Challenge: Small to medium-sized diamond businesses often do not have the same buying power as large corporations, making it challenging to access volume discounts offered by diamond manufacturers.
Solution: To help diamond wholesalers access volume discounts and reduce their costs, Liquid Diamonds initiated a group deal with a diamond manufacturer in India, allowing multiple diamond wholesalers to pool their purchases, thereby accessing volume discounts that they would not have been able to access by themselves.
Advertisement
Result: “Even when we are not able to buy enough quantity for a volume discount, we are able to get the benefit of a group discount when buying in small quantities through Liquid Diamonds,” shared Sonu Kothari of Belgium Diamonds.
“As the needs of each of our clients are unique, so are the solutions Liquid Diamonds is able to develop for both diamond buyers and sellers,” explained Kashyap Mehta, CEO of Liquid Diamonds. “The commonality lies in creating a future of ultimate price transparency, which will not only benefit individual companies, but the industry as whole.”
About Liquid Diamonds
Liquid Diamonds is a NYC-based technology startup in the diamond industry that offers a B2B sourcing platform for diamond and jewelry businesses. Our mission is to bring price transparency and liquidity to diamonds to enable diamond buyers to buy quickly and easily at fair market value and suppliers to liquidate their inventory instantly. For more information, visit www.liquid.diamonds.
