Singapore-based Jumbo Gold and Diamonds is to switch from its current wholesale model to retail as it aims to provide consumers with affordable customisable jewellery.
The company has marked its entry into the retail market with the Mark Gabriel Fine Jewellers store, which allows customers to customise their jewellery according to their preferred colour and gemstone type.
The shift is in response to the rising trend of customers looking for alternatives to off-the-shelf products, which are expensive and non-customisable, the company said.
The retail model also removes the middleman, which enables Jumbo to price its products more competitively than other retailers.
The firm added its ethical sourcing – ensuring that proceeds go directly to the local mining communities – and sustainability efforts will help it appeal to more consumers.
Founded in 2008 by Francis Tan, Jumbo Gold and Diamonds buys and sells all types of precious metals, including platinum, silver, and gold bullion.
