MajorsMay 26, 2021
Brilliant Earth Is Opening a Seattle ShowroomMajorsSep 01, 2021
Brilliant Earth Is Looking to Go Public
The retailer, which emphasizes responsible sourcing and now operates 13 showrooms, filed for an IPO Monday.
A trio of engagement rings from retailer Brilliant Earth. The San Francisco-based jewelry company filed for an IPO on Monday. (Photo courtesy of Brilliant Earth)
San Francisco—Brilliant Earth, the digital-forward retailer that emphasizes responsible sourcing, has filed for an initial public offering, with plans to trade on the Nasdaq Global Select Market under the ticker symbol BRLT.
In a Form S-1 filed Monday with the U.S. Securities and Exchange Commission, Brilliant Earth reported its sales grew 25 percent in 2020, a year in which digital sales in general soared with consumers forced to stay at home.
According to the filing, the retailer’s 2020 net sales totaled $251.8 million, compared with $201.3 million in 2019.
Average order value was $3,152, with gross margin at 45 percent and a more than 10x inventory turn.
The surge in sales pushed the company into the black for the year, with the jeweler recording net income of $21.6 million, compared with a net loss of $7.8 million in 2019.
In its filing, San Francisco-based Brilliant Earth listed its offering at $100 million, a typical placeholder value for a small IPO that will change over time.
Related stories will be right here …
In a Form S-1 filed Monday with the U.S. Securities and Exchange Commission, Brilliant Earth reported its sales grew 25 percent in 2020, a year in which digital sales in general soared with consumers forced to stay at home.
According to the filing, the retailer’s 2020 net sales totaled $251.8 million, compared with $201.3 million in 2019.
Average order value was $3,152, with gross margin at 45 percent and a more than 10x inventory turn.
The surge in sales pushed the company into the black for the year, with the jeweler recording net income of $21.6 million, compared with a net loss of $7.8 million in 2019.
In its filing, San Francisco-based Brilliant Earth listed its offering at $100 million, a typical placeholder value for a small IPO that will change over time.
Founded by Beth Gerstein and Eric Grossberg in 2005 as a primarily online-only business with one showroom in San Francisco, Brilliant Earth how has 13 showrooms—all located in big cities—with plans to open at least one more by the end of 2021.
The company is looking to non-bridal fashion jewelry and international expansion as potential growth drivers in the future, it said in its IPO filing.
In a letter included in the filing, Gerstein and Grossberg, who met as students at Stanford Graduate School of Business, detailed how their dissatisfaction with the jewelry shopping experience in the early aughts led them to start Brilliant Earth.
Brilliant Earth launched in 2005 as an e-tailer with a showroom in San Francisco. Today, it has 13 physical locations, with a potential 14th opening by year’s end. (Photo courtesy of Brilliant Earth)
Gerstein said when she was shopping for an engagement ring 16 years ago, none of the jewelers could say where their diamonds came from, while Grossberg was researching the jewelry industry in business school and hearing from friends who were “disenchanted” with their jewelry shopping experience.
“They [Grossberg’s friends] felt unwelcome in luxury stores that seemed out of touch, or ignored in mall jewelers sandwiched next to fast-food chains,” the letter reads. “They said the experience was like stepping back in time 30 years compared with how they shopped for other major purchases.”
“As we shared stories, we knew there had to be a better way.”
Gerstein said in the letter that they launched Brilliant Earth in her apartment, with the goal of creating a tech-forward jewelry company focused on sustainability, transparency, and inclusivity.
“From our first order shipped from my apartment, to over 370,000 customers across all U.S. states and over 50 countries, it’s been an honor to be a part of unforgettable moments in our customers’ lives,” she wrote.
“We are excited for the next chapter and are grateful to our community, our partners, and our employees—and to you, our investors—for joining us on this journey.”
If Brilliant Earth goes public, it will hold a unique position among the specialty jewelers currently publicly traded on NASDAQ as a primarily digital jewelry business.
The company’s growth and potential emergence as a publicly traded company is an indication of two rising trends in the market—the growth in online jewelry shopping and consumers’ interest in having assurance their goods were responsibly sourced.
More on Majors
The Latest
WatchesJul 02, 2025
Chrono24 Revamps Brand, Launches New CampaignThe online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.
SourcingJul 02, 2025
Bernadette Mack Joins Gem Legacy as Executive DirectorShe will oversee strategic planning, fundraising, industry partnerships, and the launch of the Gem Legacy Campus in Tanzania.
CrimeJul 02, 2025
Pandora, Amazon Partner to Uncover Counterfeit Jewelry NetworkWorking with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
MajorsJul 01, 2025
Cast Closes Business, Plans for RelaunchThe jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
Weekly QuizJul 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship ProgramThe company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73He is remembered for his successful entrepreneurship, generosity, and dedication to his family.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysThe jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
TrendsJul 01, 2025
Amanda’s Style File: Red Hot RubiesWelcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
