| Business Basics |
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| Company Name |
Diamond Technology Solutions |
| Founded in |
2006 |
| Headquartered in |
Mumbai |
| Company website/URL |
www.dtspoint.com |
| Industry |
Gems and Jewellery |
| Stage of the company |
Have first customer |
| Source of idea |
Systematic search for business opportunity |
| Awards & honors |
(Tata NeN Hottest Startup)
- We hope this will be a first of many |
| Partnerships & Tie-ups |
We have partnered with several some of the largest Diamond companies in India as well as Global B2B Diamond listing companies. With the family busines...> Read more.. |
| Partnerships & Tie-ups |
We have partnered with several some of the largest Diamond companies in India as well as Global B2B Diamond listing companies. With the family business being in the Diamond manufacturing field and located in the heart of the Opera house Diamond District in Bombay, allows us to source and deliver Solitaire Diamonds in the most efficient manner.
Our strong tie-ups in the industry allow us to offer a large selection of Diamonds at the most competitive prices.
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| Business description |
Diamond Technology Solutions started with Technology and E-Business Consulting for the Diamonds and Jewelry Industry.
It is currently setting up its own Online and Phone-Based Service to sell Diamonds and Jewelry. It is focused on educating buyers about the 4Cs (and more) of Diamonds and helping them make an informed decisions in an industry that...> Read more.. |
Diamond Technology Solutions started with Technology and E-Business Consulting for the Diamonds and Jewelry Industry.
It is currently setting up its own Online and Phone-Based Service to sell Diamonds and Jewelry. It is focused on educating buyers about the 4Cs (and more) of Diamonds and helping them make an informed decisions in an industry that currently sells solely based on an overused term called "trust".
Diamond Technology Solutions? launched the Service under a temporary brand name - DiaTree.com (Phone service at 022 2387 6838). DiaTree offers 20,000 Large Solitaire Diamonds that are certified by Globally recognized labs that are sourced directly from manufacturers.
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| How does the business make money? |
DiaTree made its first sale in August 08, that of a 1.51ct Round Brilliant Cut Diamond mounted on a Classic Engagement Setting to a customer based in NY for a price of $13300.
Since we would like to focus on the global market in the long run, our typical buyer (and thus target audience) will be a 25-year-old male buying an Engagement Ring for his girlfriend. However, we are currently focusing on the Indian market, where the target audience would be focusing on occasion specific (weddings) buys as well as investment related buys from the luxury consuming audience.
DiaTree finds its strengths from being close the Diamond Manufacturers and follows the of zero-inventory model with low operational cost. This enables us to be committed to offering our customers the best service and products at the best price available in the global market.
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| Team information |
The founder of the company, Kashyap Mehta, is a Computer Science major from the University of Virginia. He worked at Electronic Arts in the high-quality Computer Graphics industry before moving back to India to start Diamond Technology Solutions.
His father, Kaushik Mehta, is in the Diamond Cutting and Polishing Industry since the last 30 years and has been the chairman of the Gem and Jewelry Export Promotion Council in 1991-92 and Vice President of the Bharat Diamond Bourse 2003-2008.
The combination of an IT background with a long track record in Diamonds and Jewelry has helped the team develop new visions for the Diamond and Jewelry Industry.
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| Competition |
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| Competitors |
bluenile.com, jamesallen.com, suratdiamond.com, mondera.com
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| How different is your product or service? It has... |
Identical or close substitutes available abroad |
| In what way is your product or service different? |
Bluenile.com is the largest Online Retailer of Diamonds and Jewelry in the world with annual sales $300 million. Other competitors are largely far ...> Read more.. |
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| By The Numbers |
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2006 |
2007 |
| No. of employees |
0-5 |
6-15 |
| No. of locations |
0-1 |
0-1 |
| No. of customers |
Did not exist |
2-5 |
| Turnover |
Did not exist |
11-50 lacs |
| Profits |
Did not exist |
Did not exist |
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| Primary source of initial funding |
Personal savings |
| Primary source of additional funding |
Family & friends |
| Raised institutional capital? |
No |
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| Why is this startup hot? |
Because it helps an end-consumer to make an educated-buy from the Diamond and Jewelry industry that has brain-washed the customer to believe that Diamonds are too complicated to understand.
Because it strives to remove the overused and highly misused notion of "trust" involved in buying Diamonds and Jewelry. More often than not this results in pe...> Read more.. |
Because it helps an end-consumer to make an educated-buy from the Diamond and Jewelry industry that has brain-washed the customer to believe that Diamonds are too complicated to understand.
Because it strives to remove the overused and highly misused notion of "trust" involved in buying Diamonds and Jewelry. More often than not this results in people buying from family jewelers (that they HOPE are giving them what has been promised).
In a world where Diamonds are Certified by recognized labs (like GIA, AGSL, IGI, HRD, GII), the simple answer to buying diamonds, is to educate himself and make an informed decision where he knows exactly what he is buying and the prevailing market rate for the stones.
Simply put, we combine innovative ideas with traditional values to bring Diamonds and Jewelry with the largest selection at the best possible prices.
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| What keeps the team awake at night? |
1) How do we reach the not so tech-savvy 45-55 year-olds?
2) Do people actually want to make an informed purchase or do they really just choose to trust their family jeweler when buying diamonds?
3) How do we distribute high-value goods and collect payment of large amounts of money (possibly in cash) from small towns in India - and ofcourse - When is this going to blow out of proportions?
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