skip to main content
Moti Israeli Diamonds
the israel diamond industry logo

Canada: Jeweler Lets Couples Name Their Own Price for an Engagement Ring

Lovelri claims that rival brands have profit margins of over 50%
diamond ring engagement couple
Credit: 4 PM production / shutterstock.com

A Toronto-based jewelry retailer is now allowing its customers to name their own price for the engagement rings it’s selling, IDEX Online reports.

 

lea michele engagement ring
Credit: Instagram/leamichele

 

Lovelri, which brands itself as the “transparent engagement company”, claims that rival brands have profit margins of over 50%. Lovelri now offers consumers three prices on each ring – which will, it says, mean a profit for the company of C$50, C$100 or C$150 (around $40, $80, and $120 respectively).

 

marriage proposal diamond ring
Credit: wavebreakmedia / shutterstock.com

 

On its website, Lovelri writes: “Price transparency means that we share with you our true costs of making your ring along with the materials. We are able to offer these low prices because traditional diamond or moissanite companies make more than 50% margins on your engagement ring. But we give you the option to choose your own price. If you choose our lowest option, $0 goes to Lovelri – this means that you are getting your ring at cost.”



Tags: Diamonds News, Jewelry News, Diamond Jewelry News

More News