A year ago this week, an online jewelry store announced it business was ending not at the end of the month or week but that day. Gemvara, an online jewelry store started in Boston, was a hot new company in the early 2010s due to proprietary technology that created your custom piece through CAD design in real time. Imagine following them and seeing this posted:
This was dated February 13,2023. Jewelry stores closing is nothing new, but this story is interesting in that it tried to have no inventory of jewelry and started entirely online. With my experience of going to school and living in Boston for a time I got a chance to see this company from about the beginning to the end.
Hearing the founder speak at conferences and talking with employees, I was not surprised to see it struggle. Gemvara missed key opportunities to connect with their clients and communicate their purpose in a meaningful way. Having technology that gets you noticed is nice, but it has shortcomings. Gemvara lets customers be the designers and that is not always something that anyone can do well.
In the coming year I will be reflecting on this company’s past, looking at ways they could have improved and what the industry looks like now for those entrepreneurs looking toward a future in jewelry.
If you were a customer or employee, I would love to hear your thoughts. If you sell online and have suggestions about topics to look at, please leave a comment. Thank you for visiting Data in the Rough!