Gems TV (UK)
| Gems TV | |
|---|---|
| Launched | 8 October 2004 |
| Owned by | The Genuine Gemstone Company |
| Picture format | 576i (SDTV 16:9) |
| Slogan | "Jewellery that gets you noticed" (2004–2005),(2009–2010) |
| Country | United Kingdom |
| Headquarters | Worcestershire |
| Formerly called | Gems.tv (2004–2005) Gems TV Gold (2005) Gems TV (2005–2008) GemsTV 1 (2008–2010) |
| Replaced | FO Factory Outlet (Gems TV) Snatch It! (Gems TV 2) |
| Sister channel(s) | Jewellery Maker |
| Website | www.gems.tv |
|
Availability
|
|
| Terrestrial | |
| Freeview | Channel 43 |
| Satellite | |
| Freesat | Channel 805 |
| Sky | Channel 655 |
| Astra 2F | 12522 V 22000 5/6 |
| Cable | |
| Virgin Media | Channel 755 |
| WightFibre | Channel 45 |
Gems TV is a British reverse auction jewellery shopping channel, officially the first reverse auction in the UK. The channel is available on Sky, Virgin Media, Freesat, Freeview and online. The channel operations are based at Eagle Road Studios in Redditch, near Birmingham. As of 2013[update], the channel broadcast live 24 hours a day.
Gems TV first launched at 4pm on 8 October 2004, after the channel was formed by the five founders of Eagle Road Studios and Thaigems. The channel replaced Factory Outlet on Sky channel 663. The reverse auction format for the channel was based around Eagle Road Studios now defunct sister channel, 'Snatch It!'.
The channel was an independent company until the merger of Eagle Road Studios and Thaigem, which formed 'Gems TV UK Limited'; the original founders left the company and in 2008 floated on the Singapore Stock Exchange and become a corporate company; Gems TV Holdings Limited.
The channel's original purpose was to sell affordable gemstone jewellery manufactured by its production facilities in Chanthaburi, Thailand. To reduce costs the parent company later reduced its own manufacturing and bought in jewellery from other suppliers.
On 1 February 2010, the manufacturing operations at the company's factory in Chanthaburi, Thailand were closed down to reduce costs and increase profit margins. This caused many employees to be made redundant.
On 18 June 2010, Gems TV Holdings sold Gems TV (UK) Limited (a wholly owned subsidiary) to The Colourful Company Group Limited for £3 million. As a result of the sale, Gems TV (UK) Limited was again under the ownership of Steve Bennett, one of the original founders of the company.
After the sale of Gems TV to its original management, the channel returned to sourcing gemstone jewellery.
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