eClarity Pte Ltd is an online specialty retailer of jewelry. eClarity was registered in year 2000 and today owns an online diamonds database with more than 20,000 pieces of diamonds, 400 designs of wedding bands, and other jewelry. eClarity is based in Singapore, and competes with traditional jewelry retail chain stores, and global online retailer stores such as ringsberry and Blue Nile Inc.. The key feature of eClarity is customization of engagement ring, wedding jewelry, and wide range of online database of diamonds.
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History
The company was set up by Amanda Koo. The company was registered in 2000, and the first website and first shop were both set up in year 2004. That was 4 years after Amanda's graduation from National University of Singapore. She has the title of GIA Graduate Gemologist and Accredited Jewelry Professional. She has 3 generations of jewelry heritage.
The company that spurs into eClarity began in 1955, when Mr Koh Kui Wah, a gold smith, started a shop in Pahang, Malaysia. His second son expanded the business of Wah Chan Consolidated Sdn Bhd, into a chain of 39 outlets, comprising a mix of gold, diamond jewelry manufacturers, exporters, wholesalers, and retailers. Wah Chan is registered with MFA (Malaysian Franchise Association) since 2000.
In year 2005, the first eClarity was launched in Singapore with a diamond warehouse at Shaw Centre and an online e-commerce website. eClarity quickly took the segmentation of young PMEBs in customizing solitaire engagement ring, wedding bands, and wedding jewelry.
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Operations
eClarity specializes in educating shoppers in a face-to-face consultation with a GIA (Gemological Institute of America) Gemologist, about diamond quality and prioritizing in the 4Cs selection, making it easy for them to sell engagement rings.
The customers appointments came mainly through word-of-mouth by customers, recommendation from forums, chatrooms, church pre-marital counseling, bridal magazine, Facebook, SEO, Google advertisement.
Diamond rings account for 70 percent of eClarity's sales, wedding bands accounts for 20 percent, and other diamond jewelry accounts for an additional 10 percent.
eClarity offers more than 20,000 diamonds, 400 wedding bands designs, and several hundred settings. eClarity owns a part of the diamond inventory. An average eClarity ring has carat weight of 0.90 carat, with an average spending of $7500 Singapore dollars, including ring setting and tax. In year 2008, the company sold a 23.21 carat diamond at $190,000.
eClarity has plans to broaden the company's base to include more global representatives to sell diamonds internationally.
References
Source of the article : Wikipedia
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