Homegrown brand IUIGA recently made headlines for being embroiled in a “trademark infringement” lawsuit filed by Japanese retailer MUJI.
MUJI was reported to be “seeking for orders to stop the use of the MUJI trademark in IUIGA’s statements” and “seeking compensation for damages and losses”.
According to MUJI, its manufacturing contractors have also “denied manufacturing or supplying products to IUIGA” — a statement which IUIGA completely denies.
IUIGA operates under a ODM (Original Design Manufacturer) business model.
All of their products are manufactured by the same factories that produce for big brands such as MUJI, Samsonite and WMF — this allows consumers to pay an affordable price for good quality products.
Product labels are also removed to eliminate potential added value from branding. This tells the consumers that they are paying only for the quality, not the brand.
According to IUIGA, it champions honesty with its transparent pricing strategy, where they openly share their mark-ups with consumers to show them exactly where their money went.
You Can Now Buy Diamond Rings At IUIGA
Brushing the scandal aside, IUIGA has forged ahead with the launch of Singapore’s first online-only Solitaire diamond ring in platinum.
While fine jewellery are conventionally bought in-person, IUIGA believes that the future of diamond ring shopping is online.
With a selection of one to five carats, IUIGA customers can now shop for diamond rings in the comfort of their own homes in a “simplified, stress-free process”.
Each Solitaire is made-to-order, and takes up to 40 working days to complete.
Unlike traditional retailers and upscale brands such as Tiffany & Co. and Cartier, IUIGA does away with typical mark-ups that are at least 300 to 1,000 times the cost price.
With industry mark-ups, a 1-carat diamond ring costs an average of S$25,000, according to IUIGA.
The biggest factor in IUIGA’s completely transparent pricing is how they bypassed retail channels to sell directly to customers online.
IUIGA’s Solitaire ranges from S$1,799 for a one-carat diamond ring, and two- to five- carat diamond rings are available by special request only.
In terms of the specifications, here are the details:
- Ring Setting and Design: Six-Prong Solitaire
- Diamond Grade: 1-1.1ct
- Cut Grade: Very Good
- Clarity Grade: VS-SI-P
- Colour Grade: Very Good
IUIGA also provides an optional service to certify the diamonds with CTI/IGI at an additional S$300, and this process takes up to 7 working days.
If you are unsure of your ring size, their home try-on experience (S$199) will prove useful.
Every home try-on set allows up to three sample rings made of high-quality alloy and cubic zirconia to best represent the style (not quality) of the IUIGA Solitaire.
Customers can select their preferred options online, and have it sent to their doorstep for free via insured next-day delivery.
Featured Image Credit: IUIGA