Success Story : Program Order Sourcing

Leading jewelry manufacturer sources large quantities of diamonds without disrupting the market

$20M+

Diamonds sourced for Bridal Program

5000+

Certified Natural Diamonds

60+

Suppliers
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$400K+

Saved
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Introduction

Liquid Diamonds is proud to share the success story of our partnership with a leading US-based jewelry manufacturer. The manufacturer is a supplier to several large retailers. As part of a bridal program order for a big-box retailer, they needed to source a large quantity of diamonds that fit specific requirements.
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The Challenges

Avoid Disrupting the Market: One of the challenges in buying large quantities of a specific category of diamonds is that it can end up moving the market and affecting margins.

Access the Long Tail of Supply: Through their buying offices in major diamond trading centers including India, they usually purchase from a handful of diamond manufacturers. However, they rarely purchased from the broader diamond market due to the cumbersome and tedious process of dealing with multiple smaller suppliers.
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sourcing diamonds from multiple vendors around the world

The Solution

With our patented reverse auction technology, we were able to put hundreds of smaller and medium-sized diamond suppliers into competition with each other, ensuring that our client was able to access the long tail of supply and get the best prices. Our team constantly monitored the diamonds available from suppliers' inventory, giving our client first dibs on the stones they needed. This meant that our client could reduce their need to keep a large inventory ready for the retailer, as they were able to source diamonds just-in-time for the order.
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What the client had to say

Made our lives a lot easier

We run goods for program orders, we run goods for stock orders and having to access to multitude of suppliers and having the Liquid Diamonds platform negotiate on behalf of us - all done systematically and digitally - has made our lives a lot easier

Not just buying papers

The fact that Liquid Diamonds still have humans do the QC it gives us assurance that we're still getting the right diamonds and we're not just buying papers. So it's good - kind of blends the old world and the new world of buying

Available the second they hit

We're seeing the freshest goods because rather than waiting for a broker to tell us that these goods are available or whether our buying team is looking on suppliers' individual websites or RapNet, we now know that these SKUs are available the second they hit the market

$20M+ of certified natural diamonds bought for program order

Our partnership has been a huge success. Liquid Diamonds has delivered over $20M worth of certified natural diamonds to this jewelry manufacturer for this big-box retailers’ program order. We have become the de-facto buyer for this program in India – where diamond manufacturers rely on our QC team to know market prices for this order, enabling our client to control the market on diamonds that fit this program order.
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Protecting Margins: Using our reverse auction platform and by sourcing for a multitude of suppliers, we are able to buy a large quantity of diamonds without moving the market and therefore protecting the jewelry manufacturer's margins. Also, by spreading the purchase over a period of time, we ensure that we are not overheating the category.
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QC and Delivery Process: Our QC team physically inspected each diamond based on the specific requirements of the order and gave a third-party approval. We also consolidated the stones from multiple suppliers into a single shipment, and provided a single window for payment, delivery, and returns. Our partnership has enabled the jewelry manufacturer to streamline their diamond sourcing process and reduce their overhead costs.
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Conclusion

We are proud to have played a pivotal role in helping our client succeed in this program order as we continue to support them in their diamond sourcing needs. If you are a diamond wholesaler looking to streamline your sourcing process and access the long tail of supply, get in touch with Liquid Diamonds today!

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Reverse Auction

Your Suppliers Compete to give you the Best Prices

Our patented reverse auction system (US Patent 7792723), enables wholesale diamond buyers to purchase diamonds to fulfil their orders while protecting their margins. Diamond buyers get the best possible prices from multiple suppliers as they compete for your business.
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Discover More

White Glove Service

One-stop shop for sourcing

Let our team take care of all your vendor compliances and quality control via physical inspection. We aggregate purchases from multiple suppliers and become your single window for delivery and returns.