Financials

Brilliant Earth’s Q3 Sales Climb 33%

FinancialsNov 16, 2021

Brilliant Earth’s Q3 Sales Climb 33%

It’s the jewelry company’s first time reporting its quarterly results as a public company.

A 3.40-carat rhodolite garnet set in a yellow gold ring from the Brilliant Earth/Moyo Gems collaboration. Brilliant Earth’s Q3 sales were up double digits year-over-year.
San Francisco—Brilliant Earth saw strong sales in its third quarter, the first reported results since the company went public in September
 
Net sales were up 33 percent year-over-year to $95.2 million, compared with $71.4 million last year. 
 
Net income was $4 million, down by half compared with $8 million in the previous third quarter. 
 
During an earnings call, Chief Financial Officer Jeff Kuo noted the company has increased its marketing investments and had higher employee costs as it prepared to go public and opened new showrooms. 
 
Total orders were up 30 percent while the average order value rose 3 percent. 

 Related stories will be right here … 
 
“We delivered an outstanding third quarter, highlighted by significant growth across our key financial metrics,” said CEO Beth Gerstein during a results call.
 
“Our strong performance highlights Brilliant Earth’s brand resonance with millennial and Gen Z consumers as we continue to gain share in the jewelry industry.”
 
For the first nine months of the year, Brilliant Earth’s net sales rose 60 percent to $258.3 million, compared with $163.2 million in the same period last year.
 
Total orders were up 51 percent while the average order value was up 5 percent.
 
Net income totaled $14.8 million, up 80 percent compared to $8.2 million in the 2020 nine-month period.
 
Gerstein noted that the company has been expanding its product offerings, zeroing in on jewelry trends like pearls and personalized jewelry, including zodiac pendants, engravable pieces, and “create-your-own” birthstone jewelry. 
 
Looking to the year ahead, the company expects net sales in the range of $366 million to $369 million, said Kuo during the call. 
 
“While we recognize the majority of the quarter remains ahead of us, we feel that we are strongly positioned for the holiday season.” 
 
Headquartered in San Francisco, Brilliant Earth sells jewelry via its website. It also now has 14 showrooms across the United States. 
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

MajorsJun 27, 2022
George Holmes, Longtime Head Editor of JCK Magazine, Dies at 93

He first took a job at then Philadelphia-based Jewelers’ Circular-Keystone in 1963 and retired in 1996.

MajorsJun 27, 2022
Mayors, Analog:Shift Team Up With Goop

The lifestyle platform will stock fine jewelry and watches from the retailers on its website and in store.

CrimeJun 27, 2022
JSA Warns of ‘Pandemic’ of Distraction Thefts Nationwide

It cited two recent cases in California, plus incidents in Florida, Kansas, and Illinois.

Brought to you by
Preparing for Proposal Season with High-Quality, A.I.-Graded Natural Diamonds

Rare & Forever is helping to create an enjoyable diamond buying experience for the millions of newly-engaged couples.

IndependentsJun 27, 2022
Lewis Jewelers Set to Open New Ann Arbor Store This Summer

The 10,000-square-foot location allows for expanded collections from design partners while continuing custom design and other services.

Weekly QuizJun 23, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
CollectionsJun 27, 2022
This Designer Has Found a New Way to Bring Gemstones to Life

Svetlana Lazar’s “Wishing Well” collection utilizes an innovative component to mimic the movement of water beneath them.

Supplier BulletinJun 24, 2022
AGTA GemFair™ Denver is the Place to Be in September!

Sponsored by AGTA

Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!

Experience all the Italian Jewelry market has to offer in Las Vegas.

Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh In

Watch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.

MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ Necklace

All proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.

CollectionsJun 24, 2022
Piece of the Week: Marie Lichtenberg’s Hidden Message Locket

It’s a reminder that life is best lived with discretion.

TechnologyJun 24, 2022
Cloud-Based POS Software Jewel360 Launches for Jewelry Retailers

The end-to-end software allows for real-time control over all sales, inventory, repairs, customer communications, and marketing.

EditorsJun 23, 2022
Antique Show Observations From a First-Time Attendee

Associate Editor Lenore Fedow shares her impressions of the Las Vegas Antique Jewelry & Watch Show and a few of her favorite finds.

GradingJun 23, 2022
AIGS Launches Grading Report for ‘Santa Maria’ Aquamarine

The Asian Institute of Gemological Sciences aims to set a color standard for the trade name.

SourcingJun 23, 2022
Rough Diamond Sales Rise Again for De Beers

Sales were up 36 percent year-over-year in June and are pacing 24 percent ahead of last year at this point.

AuctionsJun 23, 2022
Auction House Freeman’s Appoints First Rep in Florida

Kate Della Monica, a senior specialist in the Jewelry and Watches department, will relocate to the Sunshine State.

Lab-GrownJun 22, 2022
LVMH Luxury Ventures Sinks Money Into Lab-Grown Diamond Start-Up

LVMH’s investment arm has taken a stake in Lusix, a lab-grown diamond company based in Israel.

AuctionsJun 22, 2022
Here’s How Two 100-Plus-Carat Diamonds Did at Auction

Sotheby’s New York put a colorless diamond and a fancy deep orange-brown diamond up for sale last week, with mixed results.

CrimeJun 22, 2022
Leviev Diamonds Launches Bracelet to Help ‘Tinder Swindler’ Victims

Profits will help them recoup financial losses.

MajorsJun 22, 2022
Swarovski Names First Non-Family CEO

Retail veteran Alexis Nasard will step in as CEO on July 4.

SourcingJun 22, 2022
Edward Asscher to Remain WDC President for Another Year

The organization also extended the terms of Vice President Feriel Zerouki and Treasurer Ronnie VanderLinden.

ColumnistsJun 21, 2022
State of the Majors 2022: Reflections on Resilience

After suffering a professional setback, columnist Peter Smith reflects on our ability to bounce back even when the hits keep on coming.

IndependentsJun 21, 2022
Jeweler Tommy Glatz, Known for Being Creative and Kind, Dies at 68

Glatz owned and operated Glatz Jewelers in Aliquippa, Pennsylvania for more than 40 years.

Events & AwardsJun 21, 2022
24 Karat Club of Southern California Will Honor These Industry Leaders

The organization will present three awards at its annual dinner, dance, and gala in October.

MajorsJun 21, 2022
David Yurman Hires Chief of People, Strategy

Former McKinsey partner Emily Yueh marks new president Evan Yurman’s first hire.

TrendsJun 17, 2022
Britney Spears Wore Over $500K of Stephanie Gottlieb Diamonds at Her Wedding

The New York jeweler also made the pop star’s wedding bands.

AuctionsJun 17, 2022
5-Carat Paraiba Tourmaline Ring to Hit the Auction Block

It’s predicted to sell for up to $484,000 during the Bonhams Hong Kong Jewels and Jadeite auction on June 22.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy