Updated 05:52 AM EDT, Mon, Sep 21, 2020

Diamond Trading Platform Goes Live for the First Time in Latin America

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The larger online diamond trading platform in Latin America has gone live on Tuesday in the region.

Dubbed 4cTrade.com, the online website is said include 1,200 jewellery stores which sell diamond jewelry in various countries like Ecuador, El Salvador, Brazil, Mexico, Panama, Argentina, Chile, Honduras, Costa Rica, Dominican Republic, Venezuela, Colombia, Paraguay, Nicaragua, Peru, Uruguay and Bolivia, as per Israeli Diamond.

The company's chief executive officer, Meir Kamhaji, mentioned in the same report that they decided to open the online platform because of the increasing demand of their jewelry.

"Due to the large growth taking place in the jewelry industry in Latin America, with the constant opening of new jewelry stores in these countries and the great interest from foreign companies and wholesalers to join this emerging market, we have opened over an extended time the largest online diamond center in Latin America with the intention to make it easier for these companies to join this market," Kamhaji explained.

The CEO also said that it is expensive for jewelry companies to send to sellers and find new customers in the region, especially because of the language barrier.

Kamjahi furthered that the goal of their company is to create a network of diamonds which are exclusive to Latin America.

He claimed that this will, in return, give all jewellers and individuals in the said region faster access to needed inventories.

The company's official website revealed that they also offer exposure of diamond traders in Latin America, free translation between the customer and the client, and an advanced search of diamonds.

With this website, people can also expect that there will be no sales commissions, and will come cheap with an affordable monthly payment.

US-based Velasquez Jewelers mentioned in a comment on the website that this is a great offer to them, since it is free.

"I can feel sure I can offer any diamond here to one of my clients in Latin America," the company added.

The Antwerp World Diamond Centre has previously explored opportunities in Latin America in March last year.

According to Diamonds.net, the company targeted Brazil, since it is among the top producers of diamond in the world.

AWDC CEO Ari Epstein also explained that the mines in the country have not been exploited over the years.

"On the one hand, the Brazilians do not know how they have to set up commercial exploitation of mines; on the other hand, they do not know how they have to implement the strict regulations and controls that apply to the diamond industry around the world," Epstein explained.

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