(PRESS RELEASE) SILICON VALLEY, CA/NEW YORK – Luxury digital marketplace TrueFacet.com has partnered with independent jeweler Stephen Silver Fine Jewelry to present a collaborative retail boutique in Silicon Valley.
The TrueFacet and Stephen Silver Fine Jewelry boutique is located in the Silvers’ second boutique space at the Rosewood Sand Hill Resort in Menlo Park, CA, which officially opened on Nov. 14. The boutique is stocked with TrueFacet’s selection of pre-owned watches and fine jewelry collections from luxury brands such as Rolex, Cartier, Van Cleef & Arpels, Patek Phillipe, Panerai and Audemars Piguet.
With this collaboration, TrueFacet will gain access to the Silvers’ network of Silicon Valley clientele and international collectors, while Stephen Silver Fine Jewelry can effectively scale its fine jewelry, estate jewelry and rare collectible timepiece offerings while harnessing TrueFacet’s digital reach and consumer insights.
TrueFacet Co-Founder Tirath Kamdar stated: “Silicon Valley is TrueFacet’s third-largest market, and we saw the potential for even more growth by partnering with the demonstrated leader in offline shopping experiences in the area, Stephen Silver Fine Jewelry. We see our partnership as a merger between the physical and the digital space. It’s something we are very excited about, that has never been attempted in this industry. There is a real synergy between our companies, with Stephen Silver’s expertise in rare estate pieces, and our leadership in the Certified Pre-Owned category, offering thousands of products unavailable anywhere else.”
Since its founding in 2014, TrueFacet.com has crowdsourced much of its pre-owned watch and fine jewelry inventory through customer trade-ins, consignments and customer sales, growing its marketplace inventory to over 140,000 items. Each item is authenticated and refurbished in-house or directly by brands through TrueFacet’s groundbreaking Brand Certified Pre-Owned program, launched in August of 2018.
TrueFacet has relationships with Brand Certified Pre-Owned partners like Zenith, FENDI Timepieces, Faberge and Roberto Coin. The digital marketplace has also recently partnered with Messika to power a branded U.S. e-commerce site for the international jewelry brand.
Stephen and Jared Silver, a father and son team, have earned a reputation among Silicon Valley’s VC community as early adopters of new technology. Where other jewelry and watch retailers have seen e-commerce marketplaces as competition, the Silvers saw an opportunity to invest in TrueFacet, a data-driven, tech-forward digital marketplace, and eventually took on an advisory role with TrueFacet.
Stephen Silver Fine Jewelry President Jared Silver saw an opportunity to expand the relationship with TrueFacet as luxury retail partners.
“TrueFacet makes an ideal digital partner because the company’s high-touch service and impressive global reach complement our own strengths,” he said, “and through this partnership, we will also gain access to TrueFacet’s wide selection of certified pre-owned inventory.”