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Rocket Internet To Shut Down Jewelry Store 21Diamonds.in: Report

21DiamondsRocket Internet backed jewelry eStore 21Diamonds.in has shut down its Indian operations, reports iamwire. Rocket Internet has refused to comment on this when contacted by MediaNama. However, we noticed that one cannot place orders on the site at the time of writing this article.

Rocket Internet, the German Startup incubator that entered India in 2011, had launched 21Diamonds.in, an online jewelry store that lets users design and order their own jewelry in June 2012. The website lets users select the type of jewelry they want to customize, add a gemstone of their choice, and select the type of metal.

21Diamonds is currently available in 13 other countries including Germany, UK, France, Holland, Brasil, among others and offers gemstones like Sapphire, Topaz, Black diamond, Ruby, Pink Tourmaline, among others and in metal, customers can choose between silver, 9 carat gold (yellow and white) , 14 carat gold (yellow, white, rose) and 18 carat gold (yellow, white, rose).

Why did it shutdown?

Although Rocket Internet has not informed the reason for the shut down, we predict that it could be for the fact that Indian consumer are still getting used to eCommerce and buying jewelry is still a family event. For a sustained presence for an eCommerce store in India a continuous funding is required. Even bigger and all you can eat players such as Snapdeal are not profitable yet.

Where to buy jewelry now?

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Jewellery company Gitanjali Group had partnered with Times Internet’s* Indiatimes Shopping to launch an online jewellery shop Gitanjalishop.com in December 2012. Online jewellery store, Voylla.com had raised Rs 2.5 crore angel investment from Snow Leopard Technology Ventures.

Berlin-based online fashion jewellery company Juvalia & You had launched its Indian operations in June 2012.  Apart from these online stores, there also several offline jewellery brands like Tata Group’s TanishqBhima JewellersJosco Jewellers and Abharan Jewellers, among others that also offer their jewellery for sale online.

Yebhi.com had also acquired a fashion jewellery eStore Stylishyou.in in May 2012 and had integrated all products available on stylishyou.in within its catalog. As part of the acquisition, Founder Shraddha Dadani had joined Yebhi as its Head of Jewelry. There’s also CaratLane.com that offers diamond jewellery such as rings, pendants, earrings, bangles and bracelets, chains and necklaces, among others. It also offers Gold coins by weight, purity and collection.

*Disclosure: Times Internet is an advertiser with MediaNama

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