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GEMSIGHT

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CHALLENGE

We buy almost everything online, unless it comes to jewellery, due to the essential need of that touchy feely in-store experience.

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  1. “how will this ring fit my hand proportions?”

  2. “and how will it look on my skin color and texture?”

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Such users' high uncertainty and low confidence results in very low conversion rates for jewellery retailers: 0.75% in the jewellery vertical vs ~3% cross-industry average.

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SOLUTION

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GemSight is bringing the touchy feely in-store experience to online shopping of jewellery and watches.

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GemSight is aiming to improve users' confidence and reduce cart abandonment by offering a virtual try-on (VTO) service in which users can easily examine the jewellery-body fit using their mobile device.

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Click here to view our product mock-up.

MARKET

The jewelry and watch ecommerce vertical is expected to double within the next 5 years reaching $16B by 2024 in the US alone!

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Considering the effect of VTO technology on the eyewear vertical, GemSight can drive additional ~$3B in sales for jewelry and watch ecommerce businesses in the US.

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COMPETITIVE ADVANTAGE

Unlike other VTO services, GemSight is focusing on providing the closest try-on experience to being in the store as you can get, by enabling 3D inspection of jewellery-body fit from all angles and positions. This will enable customers to see the finest details of the jewellery while trying it on virtually.

STATUS AND MILESTONES

Completed milestones:

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  • Formed a founding team.

  • Market and competition research.

  • Technological risk assessment.

  • In-depth interviews with 5 jewellery businesses.

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Currently working on:

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  • Building an MVP.

  • In the process of onboarding 3 design partners and piloting within 3-6 months.

  • Initial funding.

TEAM

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BASILA

Co-Founder and CEO

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VLADI

Co-Founder and CTO

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