Palmieri Finalizes GCAL Acquisition
By JCK Online Staff -- JCK Online, 4/8/2009 11:45:00 AM
The Palmieri Group, led by Donald A. Palmieri, said it has concluded the acquisition of Gem Certification & Assurance Lab, Inc. and other assets.
The Palmieri Group sold GCAL to Collectors Universe, Inc. in 2005. However, Collectors Universe, in early March announced that it would exit the diamond grading business due to unfavorable conditions in the jewelry market. Don and Pam Palmieri, who originally founded GCAL in 2001, said in a statement Wednesday that they are “happy to be back in total control.”
“We are very fortunate to have a virtual ‘Dream Team’ of experienced and professional gemologists, customer service, fulfillment, and IT professionals, as well as good old, home-grown management that always protects the integrity and high ethics of the company,” said Don Palmieri, GCAL president.
During the Collectors Universe tenure, GCAL gained international recognition and developed numerous certification services, most notably the “GCAL Zero Tolerance 4C’s Guarantee,” which means that GCAL stands behind each and every diamond they grade. In 2008, GCAL became the first North American gem lab to become certified “ISO 17025 Laboratory Accredited” through the Geneva, Switzerland, international certifying body.
In 2007 GCAL launched CDEDiamonds.com, a B2B diamond exchange offering GCAL Guaranteed Certified Diamonds for wholesale and retail dealers. Angelo Palmieri, GCAL’s ISO management representative, served as director of CDEDiamonds.com
This site expanded its offerings since its launch, with the additions of Certified Jewelry, Matched Pairs, Botswana & Canadian diamonds, and enhanced member services.
More recently, GCAL and IDS (Ideal Diamond Solutions) have initiated a working alliance to offer turn-key e-commerce Web sites and fulfillment services for retail jewelers.
