Industry News by Nemesis

Lucara Wants $1.5 Billion Transacted Through Clara

May 8, 2019

Lucara Diamond is targeting to get $1.5 billion transacted through its wholly-owned digital sales platform, Clara Diamond Solutions, according to a report. 


It launched the platform after a series of trials that saw sales achieving over 8% of its market price, according to a report. 


“If we can get to $1.5 billion transacted through the platform, the cash flow we generate from Clara will be as important as the cash flow we generate from the mine," Lucara chief executive Eira Thomas was quoted as saying.  


“We’re taking baby steps right now, but each quarter we’ll report, we expect the volume to increase.” 


The annual global diamond trade was valued at $18-billion. 


The new platform saves buyers the trouble of traveling to Botswana and it also brings to an end the practice of buying stones by the bucket.  


“For the first time ever, manufacturers buy only what they want, they don’t have to carry all this extra inventory,” said Thomas. 


“The large integrated jewelry companies don’t want to be in the business of secondary trading. They’re just trying to source diamonds for their own products.” 


Clara uses proprietary analytics, with the latest cloud and blockchain technologies, to sell rough diamonds individually, based on polished characteristics and demand.  

 

Source: Rough&Polished

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