Retailers

Just Diamonds sees 8% year-on-year rise in turnover

The company supplies high-quality ring mounts, finished jewellery and mainly bespoke items to customers upon request

Just Diamonds has announced an 8% year-on-year rise in turnover in the second half of 2020 compared with the same period last year.

The company supplies high-quality ring mounts, finished jewellery and mainly bespoke items to customers upon request.

The Birmingham-based jewellery supplier said it made the decision to supply small diamonds and melee to its product range as well as manufacturing jewellers and workshops, which boosted the company’s sales.

The company revealed it has seen a gradual increase in demand for laboratory-grown diamonds since adding them to its portfolio in response to growing customer interests.

However, sales of certified natural diamonds decreased in the second half of 2020, which was attributed to the pandemic and the effect it had on the wedding industry.

Dinesh Parekh, MD for Just Diamonds, said: “With an increase in headline sales and expectations of a rise in margins, Just Diamonds Ltd smashed through its previous four years’ results.

“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.”

He added: “Despite the pandemic we have seen a good flow of new customers, many of whom could really develop their businesses with us. 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.”

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