Israel Diamond Exchange (IDE) President Yoram Dvash has praised the announced sale of R2Net, owner of online jewelry retailer James Allen, to Signet Jewelers. R2Net has important ties to the Israeli diamond industry, the IDE said in a statement. “Originally founded by Israeli diamond trader Oded Edelman as a trading network for diamonds, it has become, under the brands James Allen and Segoma, a leading e-commerce platform offering innovative technological solutions to the entire diamond industry. Although headquartered in the United States, R2Net maintains an innovation center in Israel.”
Dvash said, “The sale of R2Net to Signet is an important milestone for the international diamond industry. It exemplifies the vision and innovative spirit of the industry, combining the strengths of both worlds – a solid retail base and a forward-thinking technological capability. R2Net has always been a leader in originality, technological innovation and professionalism and it is a model for our industry.
“We believe that innovation is the key to the success of our industry and the Israel Diamond Exchange wholeheartedly embraces it. We salute this union, and look forward to our continued business cooperation. ”