Brand readjusted for metals prices but is yet to pass on stone rises.
Despite rocketing diamond prices MasterCut is yet to pass on any rises to its retailer customers.
The diamond jewellery brand said that it has repriced products on a weekly basis in line with precious metals price fluctuations, but James Maxwell, managing partner of 21st Dimension that produces and manages MasterCut, which is exclusive to Company of Master Jeweller members in the UK, said that it is yet to react to diamond price hikes.
“We’re holding off for as long as we possibly can,” he told Professional Jeweller.
Maxwell said that MasterCut benefitted from being run by 21st Dimension as it is a sight holder and buys rough stones directly, which he said allows the brand to be “more flexible”. 21st Dimension, which offers manufacturing, marketing and distribution for luxury brands, polishes 10,000 diamonds a month.