DJOL Becomes Enjewel; Rapaport Debuts E-Tailing Site

June 2, 2000

DJOL Becomes Enjewel;
Rapaport Debuts E-Tailing Site

E-commerce dominated the JCK Show in Las Vegas yesterday, as a coalition of designers, manufacturers and retail jewelers announced a new name for its online venture and a well-known name in the diamond community rolled out a site where consumers can directly purchase diamonds and diamond jewelry.

Designer Jewelry Online's new name is Enjewel. The change comes after intensive study and research by well-known brand consultants. The "bricks-and-clicks" site, www.enjewel.com, will be up by the end of summer – just in time for the fall selling season.

Consumers can buy jewelry from the Enjewel network by entering a participating retailer's site, a participating manufacturer's site, or the Enjewel site. Each sale of designer jewelry will be linked to a local affiliated retailer authorized to carry the line, with an as-yet-undisclosed profit sharing and service arrangement for the retailer. The profit split will depend on the merchandise purchased and how the customer accessed the site.

Since only authorized retailers will be listed for a selected piece of jewelry, the Enjewel site allows manufacturers to control distribution. If consumers enter the site through a retailer's site, for example, they'll only see the lines that retailer is authorized to carry.

The original Enjewel investor group consisted of such well known retailers as Tivol, Diamond Cellar, Lee Michaels and Lux Bond & Green. Founding manufacturers included Lagos, Honora, Lazare Kaplan and M. Fabrikant & Sons. These core members have been joined by other equity and non-equity participants in manufacturing and retailing. Other retailers and suppliers are encouraged to join the network. For more information, contact Enjewel at (212) 771-5630.

Martin Rapaport of the The Rapaport Report introduced a consumer e-tailing site run by his company. The site, www.diamonds.com, went live yesterday with a limited selection of loose diamonds and basic diamond jewelry. While the site encourages buyers to contact diamonds.com for the name of a local retailer, it does not automatically assign a local affiliated retailer to buyers when they make a purchase.

- by Peggy Jo Donahue