Despite living in the world where making a purchase is as easy as tapping a finger on a screen, the online high-end jewelry market has not seen the rewards of our e-commerce frenzy. Approximately only 10 percent of jewelry sales are completed online, which isn’t high considering e-commerce has been around for 20 years. The biggest hesitation people have when purchasing expensive jewelry online is that the transaction lacks the emotional component that one would get when buying jewelry in a store. Because e-commerce traditionally lacks the touch and feel the element of brick and mortar, it becomes difficult for consumers to confidently make this kind of purchase online. New start-up Antandre aims to break the barrier and set a new standard for fine jewelry e-commerce.
Antandre’s founder, Monil Kothari, saw what he coins as e-commerce 2.0 when companies were building themselves as brand masters for their respective categories. Instead of trying to compete with Amazon on price, companies such as Warby-Parker, Trunkclub, Harrys, Bonobos, etc., were focused on carving out a brand name based on enhanced product offerings and superior customer service. His favorite company was Warby-Parker as he was inspired to replicate their model for fine jewelry. Instead of trying to compete on price, like most jewelers online, Monil decided to launch Antandre on four principles: story, service, value, and “goodness.”
Antandre offers a unique home try-on service where customers can order four pieces to their home to try on before buying, thus bridging the gap between online and offline commerce, resulting in happy consumers. Antandre offers high-end jewelry at a reasonable price because they are a vertically integrated jewelry company. The company cuts out the middleman and handles almost every aspect of design, merchandising, procurement, and retail. Typical fine jewelry mark ups are high, around three to five times cost. Antandre is able to offer high-quality product at affordable pricing because the company does not believe in making our jewelry inaccessible to satisfy an unreal bottom line expectation. The company offers exquisite yet attainable jewelry for women.
Ethicality is a strong component of the Antandre brand and lifestyle. The diamond industry has a stigma associated with it due to the irresponsible and cruel business decisions from the early 90s. Antandre eases the consumer’s apprehension by donating five percent of its revenue to the Diamond Development Initiative (DDI). The DDI has been at the forefront of bringing transparency to the diamond mining industry, whilst also working to empower artisanal miners.