In this segment of "Industry Focus" on Motley Fool Live, recorded on Dec. 7, Fool senior analyst Asit Sharma and contributor Emily Flippen discuss some risks ahead for ethically sourced jewelry company Brilliant Earth (BRLT 0.49%).

Asit Sharma: The competitors in this fragmented market, once they understand the approach to the technology can themselves then invest in VR, can themselves then invest in a transparent custody of asset blockchain technology to show customers, "Yeah, this is not a blood diamond, this was ethically mined, ethically brought to you without issue." That's something to think about in terms of that really impressive growth rate they have for a jewelry company. I still like their chances as a disruptor in this space and a very under-the-radar company as well, this didn't get a lot of excitement in the press; it is a small capitalization company, so many intriguing parts and pieces here.

Emily Flippen: I think that's a great risk, and it's something to keep our eye on. I will say you mentioned competitors investing in technology, and while local jewelers are less likely to offer this, I will say some of the bigger competitors, [Signet Jewelers'] Zales (SIG -0.59%) being a particularly important example it's picking up on this, they have these create your own rings, they have to virtual trial-ons, they're not doing everything that Brilliant Earth is doing, they are certainly catering to maybe that slightly more price-conscious customer that isn't willing to pay nearly 50% more to get an ethically sourced ring as opposed to one where they can just have it conveniently and cheaply deliver to them.

I think it's important to keep in mind. I will say, I like this business a lot. I think it's maybe being underrated a bit by the market here. But to your point, a very unproven business model. As we wrap up here, another thing worth noting, a very complicated organizational structure as well.

Very similar to Chobani, which you talked about last week, that we didn't get the chance to talk about the organizational structure. Some practices that may not be the most shareholder-friendly that investors can also dig into and keep in mind, but this is certainly one that I'm putting on my own radar.