Gemfields keen to call for Sightholders

Is undergoing a process to firm supplies and promote emeralds
Gemfields keen to call for Sightholders

Gemfields, the world’s largest supplier of emeralds to the trade, is thinking of adopting the Sightholder format for its future supplies. To initiate this, the company has announced to first firm up its supplies and acquire third party certification on the stones.

Gemfields owns the world’s largest emerald mine in Zambia, which is spread across 43 sq. km. Presently, the company generates production from only 1 sq.km., which delivered 150 million tones of emeralds in July. The company said that the need to firm supplies arises out of the natural hindrance in sourcing emeralds. The stones are sourced heterogeneously, not homogenously, in various pockets of the world. To put its supplies in place, Gemfields plans to achieve an average production rate in three-to-six months. A Gemfields manufacturing unit is presently located in Jaipur, Rajasthan, which is engaged in cutting and polishing activities. The company is ambitious to make this the largest such unit in the world soon.

To promote emeralds and their characteristics amongst trade, Gemfields is adopting major advertising and marketing promotions. It has also decided to enter into a supply contract with Faberge to deliver branded emeralds, one of the first brands to use colored stones for their precious products. In the next two to three years, the company plans to enter into the consumer segment after its products are retailed through the Faberge brand by April 2008.


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