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.
Editors' Picks
Sponsored by
More on Majors
The Latest
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
