CanadaMark has launched a new B-to-B trading platform to help jewelers locate its origin-certified gems.
“It is something the retail side has been asking for for some time,” says Jim Pounds, president, Dominion Diamond Corp., the miner that owns the brand. “Smaller jewelers have found it difficult to find CanadaMark goods.”
In the last year, Dominion has reintroduced the CanadaMark brand. Miner BHP Billiton first debuted it in 2003, but saw sales fall off when it switched to the auction system for its goods. “You couldn’t really base a marketing program on that,” Pounds says.
Dominion gained custody of the brand when it purchased the Ekati mine in 2013.
For the reboot, the company has created a consumer campaign using digital marketing to target millennial consumers.
“Our millennial audience really values the story behind the product,” says marketing manager Frederik Degryse. “It is ethically sourced, it is done with respect for the environment, and has a chain of custody. It is moving beyond just conscious consumerism and getting a connection with the product.”
Pounds estimates the CanadaMark fetches a 3–5 percent premium in the United States, a 4–5 percent premium in the United Kingdom, and 10– 12 percent premium in Canada.
CanadaMark diamonds include certificates with the stone’s original rough weight and mine of origin. The suppliers are subject to regular third-party audits to make sure the diamond’s origin is properly tracked.
The trading platform can be seen here.