Gemist, the US-based digital jewellery brand, announced it has received an investment from De Beers Group Ventures, the diamond giant’s innovation division. The investment amount was not disclosed. Gemist’s “try-and-buy” technology empowers consumers to customise jewellery and accessories online then receive no-cost replicas of the pieces offline for all occasions before completing the purchase.
“We are honored to partner with De Beers Group Ventures and look forward to working together to develop and grow the Gemist business,” said Madeline Fraser, Founder and CEO of Gemist. “De Beers Group has an extraordinary legacy of authenticity, quality and sustainability, which are also key features of the Gemist brand.”
As part of the investment, De Beers Group Executive Vice-President, Consumer and Brands, Stephen Lussier will join the Gemist Board. De Beers will also work with Gemist on consumer engagement approaches, particularly with regard to responsible sourcing of natural diamonds.
“Gemist is a first-mover in offering Gen Z and Millennial consumers a unique shopping experience with fully customisable designs through a simple, engaging and fun platform – key features we know these consumers are looking for,” said Neil Ventura, Executive Vice-President, Strategy and Innovation, De Beers Group. “We look forward to working with Gemist to share mutual insights as the business continues to grow.”
Gemist is backed by some of the most well-recognized venture capital firms in the consumer space, including Legendary Ventures, Lightspeed Scout and Luma Launch. “All of us are excited to work with the De Beers Group Ventures team to help grow the Gemist business and expand its innovative retail experience for jewellery shoppers around the world,” added Jayson Kim, General Partner of Legendary Ventures and Board Member of Gemist.
Caption: A screenshot of the Gemist website, gemist.co