As the diamond industry adapts to the disruption of the COVID-19 pandemic, Everledger is to launch of a new version of the Everledger Platform, with additional features that match supply and demand of stones based on criteria set by potential buyers.
Everledger brings additional transparency to the industry by highlighting key characteristics of the stones on the platform including diamond quality, sustainability footprint and compliance standards.
Due to the lockdown in major cities across the world, many jewellery retailers and diamond manufacturers shuttered their windows or closed factory doors.
Before markets begin opening up, and in time for the peak season of Christmas and Chinese New Year, Everledger is aiming to provide a secure application that will help to improve recovery.
Commenting at the launch, Everledger CEO Leanne Kemp said: “For most crises, there’s a life cycle. We are now beginning to see green shoots especially in eastern countries, with cautious signs of recovery. Consumption is on a steady rise in China, and sales programmes in Australia, Japan and South Korea are up and running.
”For global brands and retailers, it’s crucial to be prepared for every stage of a crisis. Consumer behaviour fluctuates according to the cycle, and more importantly, windows of opportunity will emerge across all segments.
“This enriched release of the Everledger Platform is open for the diamond industry, as we work hard over the next couple of months to provide the same level of transparency across the other industries we work with, such as Wine and Spirits, Luxury and Apparel, and Circular Economy, especially managing the life cycle of batteries in Electric Vehicles and Portable Electronics.”
A key improvement in the platform is the increased support for demand generation. The Search function provides a match-making tool, allowing participants to search criteria across three main categories: Diamond Quality, Sustainability Efforts and Compliance Standards.
With Automated Data Sharing, suppliers can create diamond data sharing rules to ensure new and updated diamond data is shared with retailers automatically.
Louise Mercer, Chief Experience Officer at Everledger, added: “In the process of developing the new features of the Everledger Platform, we have listened deeply to stakeholders from all over the industry, from mining companies, to manufacturers, industry associations, brands, and retailers, encouraging their input and generating insights that we wouldn’t be able to achieve without them.”
Today’s launch focuses predominantly on the diamond industry and its key stakeholders, but the platform will soon carry transferable features through to all verticals, including fine wines, gemstones, e-waste, apparel and luxury goods.