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As the global diamond industry continues to undergo a transformation in the way it finances itself and markets and sells its goods, a new player has begun operating with what it described as a unique and over-arching set of solutions. Indeed, well-known industry figure Mahiar Borhanjoo, who was appointed CEO of the UNI Group in May and took up the role in June, describes it as an "eco-system".

UNI aims to provide suppliers and buyers with financing, online sales and a comprehensive selection of polished diamonds, along with gemological, logistic and market-intelligence support.

Borhanjoo was previously Managing Director of Venus Jewel International, where he spent four years at the polished diamond supplier. From 2015 until earlier this year, he oversaw the transformation of the company’s brand and online platform to provide a better customer experience, including the implementation of its complete mine-to-market tracking system. Before that, he served as executive director of sales and sightholder services at the former Diamond Trading Company (DTC) for six years. De Beers achieved annual sales of more than $6 billion during the period he worked for the diamond mining giant. He left De Beers after successfully overseeing the team’s migration from London to Gaborone, the capital of Botswana.

Having achieved the objectives of a four-year plan at Venus Jewel International, Borhanjoo said that the time was right to move on. "I have the utmost respect for the family behind Venus," he said. "But I felt that I wanted something new that I could develop and take forward. I believe that UNI can help to modernize the industry and change many people's perspectives. We realize that this will not be an easy task. We can help manufacturers to concentrate on what they do best, while looking after other aspects of their operations such as sales, finance, marketing and other downstream areas."

Borhanjoo joins UNI Group at a time when it is looking to “become a disruptive force in the diamond industry” by providing financing to multiple diamond manufacturers, as well as knowledge and technical support to make their merchandise available online and then deliver the goods securely to a global client base. "We are an ecosystem, not just a platform," he said. Through UNI.Diamonds, its flagship online diamond trading platform launched in October 2018, the UNI Group aims to create one of the largest and most comprehensive suppliers of polished diamonds to the international market.

UNI.Diamonds believes that diamond trading has been stagnant for the past century without any significant shift to online trade. Online billboards and direct retail portals have become common only in the last decade and "the benefits of the collaborative economy and advanced marketplace technologies had only recently been implemented". UNI was founded and designed by diamond trading veterans who have decades of experience in diamond trading being a part of a threegeneration diamond trading tradition. UNI says it brings a traditional trading experience into the new digital trading arena facilitating new digital tools with traditional trading methodologies.

Its "unique marketing position permits UNI to offer exceptional and incomparable transparency. All diamonds over UNI are physically kept with their logistics partner, Malca-Amit and with UNI’s flexible vendor and buyer negotiation interfaces, it enables both parties to seamlessly reach a closing price or purchase based on single price information provided by UNI’s partners.

"We will scan and grade diamonds according to 30 + parameters to provide a complete understanding of the stone," Borhanjoo explained. "In addition, we have an online platform for trading in diamonds that we physically hold. We have a smart logistics system via Malca-Amit and we will position the goods globally where they are needed the most so that buyers have immediate availability. We can easily and quickly inform downstream clients that we have the specific stone available that they are searching for and deliver it to them much faster than other suppliers.

"Our business model is simple. We charge 3% of the total price agreed, which includes all costs such as: insurance, shipping, delivery, marketing, and so on." He said the company's logo is: In diamonds we trust, and that it was chosen because "we want to get people back to believing in diamonds. We aim to create an environment of trust."

"Many companies can use all or different parts of the services that we offer, which also includes marketing, but I don't believe there are any which can give provide such a holistic ecosystem. Our aim is to transform the industry." UNI's shareholders are putting money in and can supply hundreds of millions of dollars. We have multi-billion dollar institutions involved.

As for spreading the word about the company, Borhanjoo said he and its representatives attend all the major shows and meet with manufacturers and wholesalers. "There is a lot of word of mouth activity. We are taking our time in setting up the complete model." A frenetic timetable is nothing new for the diamond industry veteran, as he explains that he is based in London for much of the time "and on a plane 40% of the time. In addition, I am also visiting the US as well as meetings in India, Europe, Israel and Hong Kong."

UNI WAS FOUNDED AND DESIGNED BY DIAMOND TRADING VETERANS WHO HAVE DECADES OF EXPERIENCE IN DIAMOND TRADING BEING A PART OF A THREE-GENERATION DIAMOND TRADING TRADITION. UNI SAYS IT BRINGS A TRADITIONAL TRADING EXPERIENCE INTO THE NEW DIGITAL TRADING ARENA FACILITATING NEW DIGITAL TOOLS WITH TRADITIONAL TRADING METHODOLOGIES.