David Berdugo, the former chief operating officer of Blue Nile and James Allen, has been appointed CEO of Caratwise, a custom platform for independent jewelers.
Owned by Indian diamond giant Hari Krishna, Caratwise is now working with a select group of jewelers, and plans to expand later this year.
Berdugo tells JCK that “85% of customers want personalization for bridal, and all things being equal, they prefer to buy at independent jewelers. But the challenge for independents is they don’t have the money to install sophisticated custom-design technology on their site. The big e-tailers have the technology, but they’re not local, so they don’t have the same trust.”
Caratwise bridges that gap by making the design process “frictionless” for independents. It includes “white label” software that can be embedded on a retailer’s website and allows them to control production and pricing, with metal costs and diamond selection adjusted in real time.
“Many independent jewelers are familiar with customers coming with a screenshot from Brilliant Earth or Grown Brilliance and saying, ‘Can you design this?’” Berdugo says. “This lets customers do it from the jeweler’s website, and gives jewelers access to size and choice like never before.”
Caratwise is currently focused on bridal design but intends to eventually expand its offerings.
(Photo courtesy of Caratwise)
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