For Anthony Tsang and Ray Cheng, cofounders of the Hong Kong-based jewelry marketplace The Future Rocks, lab-grown diamonds are the gemstones of tomorrow.
For $10, they got a domain and “a company that doesn’t require a slogan, ever,” quipped Cheng, now its chief design officer.Neither of the cofounders comes from a jewelry background. Canada-educated Tsang leveraged his industrial engineering background into a career that took him from Swatch and telecoms to big data and, while Cheng studied architecture in the U.S. and “there was a short period where [he] really was an architect” before diving into information technology projects.
According to Tsang, the potential is huge, owing to a wide target audience that ranges from first-time jewelry buyers that “may never even have purchased a diamond before” interested in a smartly priced offering to younger generations keen to purchase items created using sustainable practices and materials.
With a price range that starts around $99 and goes up to the tens of thousands, Tsang sees The Future Rocks as sitting in a novel position, which he deemed “demi-fine,” and akin to affordable luxury. Fundamental to inclusion on the platform is therefore a willingness to push the envelope from a creative standpoint, said Cheng, who highly rates the way brands “differentiate [their wares] from conventional jewelry pieces.”
Jewelry labels that fit the bill are on the rise. At launch, the selection was six brands. It now spans 21 brands from nine countries, including France, Germany, Japan, China, Belgium and Switzerland. Next might be Korea, an effervescent market for luxury brands in sales and communication opportunities.
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