Charles & Colvard Announces Strategic Shift Within Its Traditional Business Segment; Launches Charlesandcolvarddirect.com
Portfolio Pulse from Benzinga Newsdesk
Charles & Colvard, Ltd. (NASDAQ:CTHR) announced the launch of its new B2B trade portal, charlesandcolvarddirect.com, marking a strategic shift from its distributor model to direct sales to independent jewelers and retailers. This move allows access to its premium moissanite gems, Forever One and the new Forever Bright, directly from the company. The initiative aims to support independent businesses by offering better prices, maintaining brand integrity, and competing with foreign-developed moissanite while ensuring quality.

April 02, 2024 | 1:09 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Charles & Colvard's launch of a direct-to-business sales portal represents a significant shift in its business model, aiming to enhance growth by offering better pricing and maintaining brand integrity.
The launch of charlesandcolvarddirect.com is a strategic move that could potentially increase Charles & Colvard's market share by directly engaging with independent jewelers and retailers. By eliminating the middleman, CTHR can offer competitive pricing, which may lead to increased sales volume. Additionally, introducing a new gemstone brand, Forever Bright, could attract price-conscious consumers, further driving sales. However, the success of this strategy depends on the adoption rate of the portal by the target businesses and the market's response to Forever Bright.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100