NOVITA DIAMONDS very recently became the largest lab-grown retailer in the world. On the eve of International Women’s Day, NOVITA DIAMONDS looks back at how it grew from a tech women-focused start-up that not only survived but flourished in a male-dominated industry.
Over its long history, the diamond retail industry has always been male-dominated whereby business deals, marketing campaigns, and even prices were decided by a close-knit group of influential businessmen without any significant input or participation from women, which naturally begun to alienate an increasingly dynamic, energetic, outspoken and most importantly, an informed customer base.
The female majority workforce of the diamond and jewellery industry did not have it easy either. Faced with relentless pressure to be pushy and maximise profit by the male-dominated management and shareholders, the employees often had no choice but to exploit customers who were almost always first-time buyers. In addition, women were often denied the opportunity to advance up the ladder, preventing them from enacting meaningful changes.
The growing dissonance between the diamond industry and their target audience inspired Iris Arnold to launch NOVITA DIAMONDS. She firmly believed that to systematically tackle these deep-rooted issues, a fully woman-owned and run diamond company with the express purpose of empowering women was the only effective answer. Contrary to the male-dominated competition’s tendency of ignoring and marginalising their female employees, Iris worked hard to ensure that her staff, 85% of them women, were always encouraged to voice their opinions and influence the company’s direction as a whole.
With the winning formula of an organic workforce valued for their passion and ideas, NOVITA DIAMONDS soon captured the Australian diamond and jewellery market before dominating the global stage. Along the way, Iris and her team took great pain to ensure that they served their female-dominated customer base with aggressive and honest prices and unparalleled after-sales services. However, NOVITA DIAMONDS never lost sight of its original goal of empowering women worldwide. Thus, it was essential to give back to the community that made their success possible. By partnering with prestigious non-profits such as Dress for Success, NOVITA DIAMONDS has provided much-needed self-assurance and confidence to marginalised and disadvantaged women to better their lives.
Since its very founding, as a young company staffed, managed, and run by women, NOVITA DIAMONDS has defied all expectations to succeed in a deeply entrenched male-dominated industry and thus intimately familiar with the struggles and barriers women face every day. Therefore, NOVITA DIAMONDS, as an ally, wholeheartedly supports International Women’s Day’s crucial role in bringing these issues to the public’s awareness and promise to do even more to help and empower women from all walks of life going forward.