GOLDEN GRAIL TECHNOLOGY CORP (OTCMKTS:GOGY) confirmed that its first eCommerce project www.bandsofvalor.com, a specialty jewelry firm and official licensed seller of jewelry commemorating the FDNY and NYPD was approved by Amazon.com, Inc. (NASDAQ:AMZN) to sell in their most extremely popular, closed category of ‘Fine Jewelry.’
The significance
It is a great accomplishment for Golden Grail as due to large number of vendors, Amazon closed various segments to new sellers. It started with a stringent multi-stage approval process so as to include the products of new sellers in its closed categories. The company commenced with the approval process of Amazon six months ago. It started with the final stage in late 2014.
The test
Golden Grail was required to pass Quality Assurance Program under the final stage of evaluation process. It involved sending a jewelry representative sample to an independent third party for assessment. The test evaluated whether the product adhered to Amazon’s strict guidelines or not. Amazon granted approval to Band of Valor in late January.
The expert speaks
Michael Brodsky, the President of Golden Grail said that to be added by Amazon in its closed Fine Jewelry category is a major accomplishment and a proof to the premium design quality of its “Bands of Valor” jewelry. The management is looking forward to see how the retailer can expand and hopefully exceed the success Golden Grail recorded with pay per click advertising. The strategy performed well for the company throughout the holiday season.
The ecommerce venture
Golden Grail ecommerce venture named as Bands of Valor offers a wide range of hand-crafted and amazing designs remembering and honoring those people in service that have served, and also the lives that have been lost in the course of service. The products will be available on its online store and also on Amazon. In last trading session, the stock price of GOGY surged 14.14% to close at $0.160 on share volume of 531,598.
