Startup interview. Alison Cooper, CEO and Co-founder, Alicia J Diamonds
RTIH gets the lowdown on Alicia J Diamonds, a concierge service for bespoke diamond and gemstone jewellery, from Alison Cooper, CEO and Co-founder.
RTIH: Tell us about Alicia J and yourself
AC: Alicia J is an innovative and approachable service for buying beautiful bespoke diamond and gemstone jewellery.
We talk every client through everything they need to know, from diamond carat, clarity, cut and colour to gemstone shape, setting options and design, whether they’re buying a unique engagement ring or a ruby wedding gift.
Our expert service is friendly and inspiring, and each person comes away with a stunning original piece of jewellery to cherish forever.
I’m a seasoned entrepreneur and investor and having sold my previous company, which supplied specialist food to airlines, I wanted to do something different and more personal. I have had a lifelong interest in diamonds and gemstones.
I’ve travelled extensively, buying jewellery in Dubai and beyond. On my travels, I’ve discovered outstanding diamond specialists and jewellery designers and learned a lot about what makes jewellery special.
My business partner is Roshan Kundwani, a fellow entrepreneur, who is based in Dubai, and originally from Mumbai. Roshan has strong relationships with the best diamond cutting and polishing centres and the finest luxury jewellery workshops and oversees the jewellery production.
Both Roshan and I are trained GIA (Gemological Institute of America) specialists. I set up Alicia J Diamonds to share my knowledge and help others buy exceptional diamond and gemstone jewellery with confidence and trust.
RTIH: What was the inspiration behind setting the company up?
AC: The initial spark for the idea came from a friend of my son, who asked me for advice on buying an engagement ring. This young man was focused on getting the highest carat size for his budget, and had been quoted by a jeweller.
However, unknown to him, there are many other factors to consider when buying a diamond so together we sourced a much higher quality, higher value diamond, for a better price.
I realised people were going in on their diamond purchase blind and that they often felt confused and overwhelmed by the process. I knew I could offer a service to help them.
After offering advice to various friends and family I started to become inundated with requests for bespoke jewellery and decided to turn the service into a business. I realised other jewellery brands don’t give the same education.
Inspired, Roshan and I trained with the Gemological Institute of America (GIA) as a diamond and gemstone specialist to enhance the knowledge we already had.
This helped us create an approachable and friendly tailored diamond jewellery concierge service which empowers the buyer with the knowledge to make an educated, quality purchase.
We also knew we wanted to help people create more original and personalised designs.
“With the global pandemic, businesses are having to adapt, or they will fall apart. This has meant a lot of jewellery stores are taking their services online. This can be difficult for them, having to start doing virtual sales and consultations. Luckily for us, this was always the plan for Alicia J”
RTIH: What has been the industry reaction thus far?
AC: We launched in September and there is already a lot of interest in us. Several big luxury magazines like the Alicia J idea and story and we’ve had extremely positive feedback from customers.
We are also being approached on a daily basis by other concierge services to form strategic partnerships.
RTIH: What has been your biggest challenge/setback?
AC: Due to the pandemic our packaging took longer to produce than expected.
However, because I’ve managed businesses in the past that have encountered challenges – as all businesses do – I’ve learned to manage well, and actually find I work successfully in challenging times.
I’m definitely someone who seeks solutions. We took the extra time to develop other areas of the business.
RTIH: What are the biggest challenges facing the retail sector right now?
AC: With the global pandemic, businesses are having to adapt, or they will fall apart. This has meant a lot of jewellery stores are taking their services online.
This can be difficult for them, having to start doing virtual sales and consultations. Luckily for us, this was always the plan for Alicia J.
RTIH: What's the best question about your company or the market asked of you recently by a.) an investor and b.) a customer?
AC: One investor was curious about how we guarantee a quick turnaround on such high-quality products.
We have great contacts and an agile supply chain model, which investors love. They’re also fans of the fact that we don’t have funds tied up in real estate and inventory.
Customers are always curious to know exactly how our bespoke concierge service works and the full process of designing a bespoke piece of jewellery.
RTIH: What can we expect to see from Alicia J over the next 12 months?
AC: We’re very excited about our ready-to-wear collection, which we’re finalising at the moment.
Although bespoke is our core business, we recognise that sometimes people want something straight away, and this will enable that.
We’re in talks about partnering with some exciting designers to develop unique collections for the future.
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