Dominion Diamond Inks Deal with James Allen to Market CanadaMark

Jewelry
07/06/2017 12:27

As part of a mine-to-consumer deal, R2Net, which owns JamesAllen.com, and Dominion Diamond Corporation have signed an agreement to market and brand CanadaMark® certified diamonds. JamesAllen.com will be the exclusive online retailer of CanadaMark certified diamonds; brick-and-mortar retailers will be able to sell the diamonds, but will not be allowed sell them online, giving James Allen "a significant advantage", according to JCK's Rob Bates. All CanadaMark certified diamonds listed on JamesAllen.com include unique serial numbers and are tracked at every stage from the mine to the polished stone through independent, audited processes. They are all sourced from the Ekati and Diavik diamond mines in the Northwest Territories, Canada, and are laser-inscribed with a unique identifier and have an official certificate of origin. 

Dominion's statement reads, "The CanadaMark® program is the most recognized hallmark to guarantee Canadian origin, and works with clients to assure end consumers that their diamond is responsibly mined in Canada and tracked through an independent auditing process at every stage from mine to polished gem. CanadaMark® certified diamonds are produced with integrity, through engagement and partnership with indigenous communities, support for local businesses, and a commitment to protect the environment ... [Our] decision to partner with JamesAllen.com on this exclusive online retail deal underscores their success in tapping into the growing online diamond jewelry market, and demonstrates confidence in the company's ability to continue to modernize the traditionally brick and mortar industry by offering better transparency, selection and value." 

In his article, "James Allen, CanadaMark, and the Growing Trend Towards Origin Tracking", Rob Bates explains that BHP first introduced the CanadaMark brand in 2003, "but it languished after that. In 2014, Dominion, the Canadian miner that acquired the brand when it bought the Ekati mine, vowed to resurrect it." Bates highlights the significance of the deal, noting, "James Allen is known as an aggressive marketer, and it hopes to significantly raise the profile of the CanadaMark brand." The brand's CEO Oded Edelman told him they would be tossing a good amount of money into the project. Bates remarks that the deal also, "shows the growing importance of origin-tracked diamonds, as shown by the new offerings from GIA and Rio Tinto, and the continued guarantees offered by Forevermark. But more than that," Bates adds, "it shows that skeptical consumers aren’t always taking company claims for granted; especially in the wake of recent negative publicity, they may want additional assurances for any assurances." This leads Bates to ask: How many consumers really want assurances about a diamond’s origin? “Most consumers don’t want it,” Edelman says. “Some do. That doesn’t mean we don’t want to have it.”

JamesAllen.com is the fastest growing online retailer of engagement rings and loose diamonds, and Dominion is Canada’s largest independent diamond producer. Jim Pounds, Dominion’s Executive Vice President, added, “We are thrilled to partner with JamesAllen.com to offer increased transparency for diamond buyers, with a complete view into their diamond's source from mine all the way through to the gift box."