77 Diamonds

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company

77 Diamonds is an online retailer of diamonds and diamond jewellery based in the United Kingdom, but operating throughout the world. The company claims to have the largest selection of certified natural diamonds in the world. They have been called "one of the most innovative online diamond companies to sell loose and set diamond jewellery in the UK." [1][2]

History

77 Diamonds was founded by Tobias Kormind, a former investment banker at Morgan Stanley,[3] with Vadim Weinig, a third generation diamond manufacturer and dealer in 2005. Kormind believes precious metal hallmarking could be privatized, just like diamond certification, and says it needs to be quicker, cheaper and offer more outlets.[4]

The company takes its name from the date that the first diamond engagement ring was given, when Archduke Maximilian I of Austria presented one to Mary of Burgundy in the year 1477.[5]

In 2010, 77 Diamonds featured in Vogue's inaugural 'Fashion's Night In' feature, devoted to offering discounts from a selection of the most fashionable online retailers.[6][7]

In 2014, the company completed a world first by putting a £12,000 diamond into space to promote the launch of their online universe "Diamonds in the Sky," where visitors are encouraged to create a star and name it after a loved one before then sharing it on social media. The stunt was structured so that whoever found the diamond when it landed back on earth, they were able to keep it.[8] The diamond was launched from a remote spot in Derbyshire, England before its tour to the atmosphere and back. In collaboration with the Civil Aviation Authority, the carefully planned stunned saw the diamond reach the atmosphere, where pressure then popped the weather balloon that carried the diamond to the edge of space before a parachute deployed to see its journey back to Earth. Lack of signal saw the GPS trackers fail and the company were unable to track the exact location of the landing, however the last co-ordinates provided an approximate landing location of Lea in Gainsborough, England. A national media storm followed with many people on a treasure hunt to find the diamond. After 4 months, the diamond was finally found by a man walking his dog in Lincolnshire in December 2014 and the owner was allowed to keep the stone.[9]

Operations

77 Diamonds customers either build their own diamond ring, buy rings off the shelf, or even buy loose diamonds.[2] Each diamond comes with a certificate of authenticity, which the company’s founders, Kormind and Weinig, say is key when it comes to customer confidence. They also believe diamonds will rise above the inflation index.[10] 77 Diamonds has access to over 80% of the world's polished diamonds and has the largest selection of certified natural diamonds in the world.[1] All of their diamonds are conflict-free and comply with the industry’s strict Kimberley process regulations.[11]

References

External links