FURA Gems has exciting ideas about how to transform the precious gemstone market. In this article, we read how they do it!
FURA Gems is the only company in the world to mine all three precious colored gemstones; sapphires, emeralds, and rubies. The company recently announced the launch of the FURA Marketing Council, a groundbreaking coordinated effort to increase the size of the gemstone market.
Connecting the dots from Rough to Retail
FURA Marketing Council (FMC) will transform the precious colored gemstone market by connecting the supply chain from rough to retail, harnessing a major mining company's combined power with cutters, dealers, jewelry manufacturers, and retailers to promote responsibly mined gems.
This effort is in response to a significant North American consumer and trade research survey on colored gemstones conducted in the fall of 2020. The research found that 93% of jewelry shoppers love jewelry that includes emerald, ruby, and sapphire, With 46% saying they are likely to purchase precious colored gems in the next two years. Yet even though dealers, jewelry manufactures, and retailers said they all make more margin from colored gemstones than diamonds, they were not investing in training, promotion, and inventory to grow this category.
If you like to read more on this exciting topic: Colored Gemstones Capture More Consumer and Trade Attention.
"The entire jewelry wholesale and retail industry has a billion-dollar opportunity right in front of them, and they need help to tap it," explains Dev Shetty, FURA CEO.
FURA mines exquisite emeralds from an ancient mine hidden in the lush green mountains of Colombia and stunning sapphires sourced from Australia's rugged Outback. They also mine richly-colored rubies unearthed in Mozambique's northern highlands. With its global sublimity comes the opportunity to support gemstone sales from rough to retail and provide consumers with gems sourced responsibly and transparently.
Rightfully so, FURA is proud to be a responsible supplier and an industry leader in benefiting both its employees and the communities it is located in. The company is transforming the role of a mining company by championing transparency and principled operations for all its projects while bringing sustainable mining and sophisticated marketing to the global gemstone market.
Sustainability and giving back to nature
FURA not only protects the environment surrounding its mines with enlightened water management and waste recycling, but the company also reforests and reclaims the land after mining. With a chain of custody tracking, consumers can know exactly where their emeralds, rubies, and sapphires come from and are sure they have been responsibly sourced.
Dev Shetty, CEO of Fura Gems, added: "We're creating the future of gemstones, opening the closed world of precious gems for the first time. We are funding trade support to the tune of over 2 million dollars in just the first year to launch FMC. If you are a precious gemstone professional, we welcome you to join the FURA Marketing Council and start benefiting right away."
FMC members will be leading precious colored gemstone companies worldwide: the best gem cutters and dealers, the most talented jewelry manufacturers and designers, and the most inspiring retail destinations.
"It is an unusual step for a colored gemstone mining company to support their rough to retail, but helping the market growth in a healthy and sustainable has always been our goal," stated Rupak Sen, Chief Marketing Officer of FURA Gems.
Benefits and how to apply:
Retailers, manufacturers, and dealers can apply to become members of FMC at www.FMCgems.com. FMC will launch its marketing programs at the upcoming JCK Las Vegas trade show in August. Visitors to the show can meet with the FMC team at booth number 15039 to find out more about the benefits of FMC membership.
Membership support includes advertising funds, extensive sales training, and layers of promotion assets for all levels of the industry. Also included in the membership is consulting support from the FMC managing group, VMI Marketing, who brought the Indo Argyle Diamond Council and consumer brand Champagne Diamonds.
When we reviewed the research data, it became evident that there is a tremendous underserved consumer market for colored gemstone jewelry," says VMI president Liz Chatelain. "We were very excited that FURA is standing up to support the industry and help grow the market for precious color."
There are many remarkable initiatives right now of the industry leaders showing a better, more sustainable way.
It's evident that not embracing the rapidly moving train towards a more open, transparent business world is not an option anymore. For those who can't lead, it might be a great idea to join those who do. FURA is offering such an opportunity right now. Don't miss out!
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Gina Bernard
Thank you so much for summarizing this great news and highlighting how to become a member. I'm looking forward to learning more about their initiatives.
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