Carat Club to distribute Philippe Diamond jewels

BY DANNY YAP

THE Carat Club has signed an exclusive distributorship agreement with Philippe Diamond Corp of the US for the latter's range of the finest world collection of jewellery in Malaysia and Singapore.  

Philippe Diamond Corp is a major supplier of large and rare diamonds and is one of the top diamond cutters in the world. 

Carat Club managing director Chan Boon Yong said after the agreement signing ceremony in Kuala Lumpur yesterday that the partnership would be a win-win situation to allow Asians to purchase gems of the highest quality in Malaysia. 

A model wearing the 'Eternity' diamond valued at over RM57mil flanked by Philippe Diamond Corporation vice president and international sales director Jack Arem (left) The Carat Club managing director Chan Boon Yong.

“With this partnership with Philippe Diamond, such dazzling treasures will be available on our shores,” he said, adding that potential buyers previously had to travel to London, New York or Geneva to make a purchase. 

The opportunity to display Philippe Diamond jewellery could translate into significant sales for The Carat Club which jewellery price started from RM2,000, Chan said. 

“We could potentially double our sales,” he said, but declined to give a figure or timeframe.  

He also said that the jewellery industry was undergoing a consolidation period that would shorten the supply chain and allow potential gem buyers to have viewing access to fine jewellery.  

Philippe Diamond vice-president and international sales director Jack Arem said the agreement allowed The Carat Club to have exclusive distribution of the diamond company's products in Malaysia and Singapore.  

According to him, it would also allow the club to have greater accessibility to display and sell large diamond pieces such as the 100-carat “Eternity diamond” valued at over US$15mil. 

“This heart-shaped diamond not only boasts a 'D' colour and is internally flawless but is one of the rarest stones in the world,” said Arem, adding that it clearly demonstrated the capabilities of the company as a first class diamond cutter. 

“D” signifies the highest quality grade for diamonds.  

Philippe Diamond is one of the designated top 50 customer-cutters of Diamond Trading Co (formerly known as DeBeers), a mining company.