Describing it as the Amazon of gemstones would be wrong. But, of course, GemCloud wants to use technology to create a large online gem market. The goal, however, is not just that. The technological platform (https://www.gemolith.com) is not limited to being a large supermarket of precious natural gems extracted from all over the world, but also introduces a kind of standard. Because, as Veronica Favoroso, CEO of GemCloud, explains, today transactions in the gemstone sector are mainly made with personal meetings and are based on trust. While the diamond industry has long codified the criteria of judgment (the famous four Cs), there is no commonly adopted language to describe colored gemstones. And this creates confusion.
That’s why we’ve also integrated our color and clarity grading to allow shoppers to filter their search based on the specific quality they’re looking for. For special requests, we have built a dedicated section where buyers can send us the specifications of the gem they need. A Gemolith expert then comes back to them with several options.
Philippe Ressigeac, Coo of GemCloud
Among other things, as if that weren’t enough, now there is also the covid, which hinders the possibility of traveling. GemCloud, therefore, decided to introduce a standardized system, which includes the classification by colored gemstones, and digital tools that connect different players in the sector. This solution can enable a guaranteed online gemstone trade. After a run-in period, today the company has built a network of suppliers and buyers all connected by the company’s business management solutions and GemCloud’s enhanced markets. Since then, GemCloud has worked with leading global retailers, major mining companies and gem dealers around the world – all of which adopt the management system that enables control of the supply chain. The digital system adopted also has a name: Gemolith.
GemCloud has offices in several key markets: London, Bangkok, New York and Hong Kong. And those who log on to the website find, in fact, a large selection of gems that come from all over the world. One of the strengths is the user experience: the gems are presented in a clear way, with interactive images that allow you to see the gem in 3D and with all the data available to make a purchase choice. At the moment there are over 10,000 gems in the catalog, with the most common cuts or unique pieces: over 28 different types of gems from over 20 origins, including rubies, sapphires, emeralds, spinels, tourmalines, garnets and other precious stones. Each gem comes with its own lab report, high quality images and video. In addition, the site also offers an educational path for those who want to deepen their knowledge of gems.
Our priority has been to create solutions that encourage responsible sourcing. Today, more than ever, we are all aware of the importance of having sustainable practices and feel very privileged to be in a position to lead our community to do better.
Veronica Favoroso, CEO of GemCloud
GemCloud has formalized a working relationship with the Colored Gemstones Working Group (CGWG) to collaborate on the joint development of resources and tools for responsible sourcing and manufacturing for the colored gemstone industry, available through the Gemstones and Jewelery Community Platform , an initiative to provide all members of the gemstone and jewelry industry with free resources and capacity building tools to learn more about key areas of sustainability and how to implement best practices within their business.