An easy way to get into this business for an investor could be by buying Odimo (Nasdaq: ODMO) that owns the
portal diamond.com, as well as other internet brands such as Ashford. The company did $52 Million in 2004 sales, but is
currently valued at a mere $13 Million. Of course, they are losing beaucoup money. However, some of the P&L problems seem to
be artifically created by their majority shareholder, The Steinmetz Group, who remains the sole supplier of diamonds to the
company, but at questionable terms. Gross margin numbers seem suspicious. Bottomline, jewelry online is an opportunity worth
pursuing, and TAM is expected to continue to rise as more of the web savvy generations enhance their buying power.
