Diamonds Direct
One of the nation’s largest selections of fine jewelry and diamonds at the lowest prices guaranteed anywhere in the United States.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$490m Valuation: $490m | Acquisition | ||
| Total Funding | 000k | ||
Established in 1995 in Charlotte, North Carolina, Diamonds Direct operates as a direct-to-consumer fine jewelry retailer. The company was founded by Alon Arab, a former wholesale diamond dealer who sought to bring transparency and value to the retail diamond market by eliminating the middlemen. This direct sourcing model, purchasing diamonds directly from cutting facilities in Israel, allows the company to offer a broad selection of jewelry at competitive price points.
The business model centers on large-format, standalone showrooms that provide a hands-on, educational experience for customers. This approach demystifies the diamond-buying process, with staff guiding clients through the intricacies of cut, color, clarity, and carat weight. The company's revenue is generated through the sale of loose diamonds, engagement rings, wedding bands, and a wide array of other fine jewelry. By sourcing directly and maintaining a low-cost, high-volume operation, Diamonds Direct aims to deliver significant value compared to traditional jewelry retailers.
In a significant strategic move, Diamonds Direct was acquired by Platinum Equity, a global investment firm, in October 2021. This acquisition has provided the resources to support the company's continued growth and expansion into new markets, building upon its established presence across the United States. Under the leadership of CEO Itay Berger, the company maintains its commitment to its founding principles of direct sourcing and customer education while expanding its footprint. The company also emphasizes community involvement through the Diamonds Direct Foundation, which supports local nonprofits in the communities where it operates.
Keywords: fine jewelry, direct-to-consumer, diamond retail, engagement rings, jewelry showrooms, direct sourcing, luxury goods, bridal jewelry, precious gemstones, retail jewelry