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
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
