SourcingFeb 04, 2025
New Deal With Botswana Is Done, De Beers Confirms The agreement will allocate an increasing proportion of the country’s rough diamonds to the government of Botswana over the next decade.
IndependentsJul 05, 2017
Direct-to-Consumer Jewelry Brand Scores $2.6M in Funding
Aurate is the fine jewelry line that investors are comparing to brands like Warby Parker and Casper.
Aurate co-founders Bouchra Ezzahraoui and Sophie Kahn
New York--Aurate, the fine jewelry line that sells directly to consumers at wholesale prices--without a retail markup--announced it has received $2.6 million in seed funding.
“We don’t believe in cutting corners,” co-founder Bouchra Ezzahraoui explained of Aurate’s retail model. “Rather, we found a smarter way to do things and customers have taken notice.”
So have investors.
The brand was launched in 2015 by Ezzahraoui and Sophie Kahn, who met while pursuing master’s degrees in finance at Princeton.
Aurate’s first collection sold out within a few days, and profits have risen an average of 300 percent in the last three quarters, the company said.
The brand boasts a pop-up boutique on Madison Avenue in New York City; all product is manufactured nearby in the Diamond District. Aurate also says its materials are sourced from conflict-free regions.
The company received the $2.6 million in funding from Arab Angel Fund and Victress Capital, plus several anonymous angel investors.
“Aurate is taking the fine jewelry market by storm,” said Omar Darwazah, a general partner at Arab Angel Fund. “Laser-focused on user experience, the company’s direct-to-consumer model is helping ‘democratize’ the gold jewelry market and is already disrupting the traditional model for the luxury category.
“The company’s ‘impact purchasing’ strategy places it in the same tier as Casper and Warby Parker but for fine jewelry. I’m excited to add Aurate to Arab Angel Fund’s growing direct-to-consumer portfolio of companies, which today includes Tamara Mellon Brand and Stowaway Cosmetics.”
Victress Capital partner Lori Cashman added: “We look for strong, tenacious and driven female founders--Bouchra and Sophie are all of these (things) and they are extremely intelligent with complementary skill sets; we were able to check that box in the first 60 seconds of meeting them.”
Victress Capital is invested in brands such as Daily Harvest and The Nue Co.
With its newly acquired funding, Aurate plans to open up more pop-up retail locations on both coasts of the United States over the next 12 months. In the same period, they expect to hire 25 more employees.
The new hires will include a marketing team.
It’s an interesting change for the company.
Up to now, Aurate’s strategy has revolved around its lack of a retail and marketing markup--the company says it hasn’t had a marketing budget in the past--with all costs being relegated to operations and production.
“This capital will allow us to continue providing customers an innovative, seamless experience when it comes to their jewelry purchases,” Ezzahraoui said.
“We don’t believe in cutting corners,” co-founder Bouchra Ezzahraoui explained of Aurate’s retail model. “Rather, we found a smarter way to do things and customers have taken notice.”
So have investors.
The brand was launched in 2015 by Ezzahraoui and Sophie Kahn, who met while pursuing master’s degrees in finance at Princeton.
Aurate’s first collection sold out within a few days, and profits have risen an average of 300 percent in the last three quarters, the company said.
The brand boasts a pop-up boutique on Madison Avenue in New York City; all product is manufactured nearby in the Diamond District. Aurate also says its materials are sourced from conflict-free regions.
The company received the $2.6 million in funding from Arab Angel Fund and Victress Capital, plus several anonymous angel investors.
“Aurate is taking the fine jewelry market by storm,” said Omar Darwazah, a general partner at Arab Angel Fund. “Laser-focused on user experience, the company’s direct-to-consumer model is helping ‘democratize’ the gold jewelry market and is already disrupting the traditional model for the luxury category.
“The company’s ‘impact purchasing’ strategy places it in the same tier as Casper and Warby Parker but for fine jewelry. I’m excited to add Aurate to Arab Angel Fund’s growing direct-to-consumer portfolio of companies, which today includes Tamara Mellon Brand and Stowaway Cosmetics.”
Victress Capital partner Lori Cashman added: “We look for strong, tenacious and driven female founders--Bouchra and Sophie are all of these (things) and they are extremely intelligent with complementary skill sets; we were able to check that box in the first 60 seconds of meeting them.”
Victress Capital is invested in brands such as Daily Harvest and The Nue Co.
With its newly acquired funding, Aurate plans to open up more pop-up retail locations on both coasts of the United States over the next 12 months. In the same period, they expect to hire 25 more employees.
The new hires will include a marketing team.
It’s an interesting change for the company.
Up to now, Aurate’s strategy has revolved around its lack of a retail and marketing markup--the company says it hasn’t had a marketing budget in the past--with all costs being relegated to operations and production.
“This capital will allow us to continue providing customers an innovative, seamless experience when it comes to their jewelry purchases,” Ezzahraoui said.
Editors' Picks
Sponsored by
Kahn commented: “Today’s customer wants it all, and rightfully so. The product needs to look great, the quality needs to be impeccable, the value needs to be sharp, and the brand needs to have a positive impact on the wider world.
“I believe this combination helped us grow at the rate that we did.”
Aurate was recently nominated for a Women’s Jewelry Association Award for Excellence in the newly introduced “Open Format Retail” category.
Award winners will be revealed live later this month at the WJA’s Awards for Excellence gala in New York.
More on Independents
The Latest
Events & AwardsFeb 04, 2025
Van Cleef & Arpels’ Astronomy-Inspired Jewelry to Land at AMNH“Cosmic Splendor: Jewelry From the Collections of Van Cleef & Arpels,” opens April 11 at the American Museum of Natural History.
SurveysFeb 04, 2025
Valentine’s Day Jewelry Spending Forecast to Hit Record High, Says NRFThose celebrating Valentine’s Day this year are expected to spend a record $27.5 billion on jewels, flowers, candy, and more.
Brought to you by
3 Ways to Capitalize on America’s Newfound Love of Colored GemsColored stones are stepping into a jewelry spotlight typically reserved for diamonds—are you ready to sell color?
EditorsFeb 03, 2025
Best Jewelry Moments From the 2025 Grammy Awards From Lady Gaga’s 1930s Tiffany & Co. necklace to Taylor Swift’s “T,” Michelle Graff recaps the night’s most memorable jewelry looks.
Weekly QuizJan 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 03, 2025
Qurate to Close HSN’s Florida HQ Amid RestructuringLayoffs will reportedly start next month as HSN plans to move into QVC’s location in Pennsylvania.
EditorsFeb 03, 2025
Q&A: 5 Jewelry Designers on Shopping the 2025 Tucson Gem ShowsA group of creatives talked to Associate Editor Lauren McLemore about their approach to the annual Tucson gem, mineral, and fossil shows.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
AuctionsJan 31, 2025
Elizabeth Taylor’s Diamond Bracelet Outshines Estimate at U.K. AuctionThe auction also featured the sale of a Cartier necklace made when Egyptomania was sweeping Great Britain.
CollectionsJan 31, 2025
Piece of the Week: Lalaounis’ Good Luck Charm for 2025The “Blossom Rosette” blooms with love, beauty, and hope for the year ahead.
Events & AwardsJan 31, 2025
Facets of Fire Has a Diamond Challenge for RetailersFor every jeweler who tries their luck, the company will make a donation to Jewelers for Children.
MajorsJan 30, 2025
WJA Chapter Leaders Resign as Fallout From DEI Remarks SnowballsThe boards of at least five chapters have resigned in response to controversial statements the WJA national board president made last month.
Policies & IssuesJan 30, 2025
RJC Executive Director Melanie Grant Is Stepping Down An experienced jewelry writer and curator, Grant led the organization for two years.
CollectionsJan 30, 2025
Pharrell Williams Brings Tahitian Pearls to His New Tiffany & Co. CollectionFive new designs were added, all donning Tahitian cultured pearls and spear-like trident motifs, along with the new “Titan” setting.
Events & AwardsJan 30, 2025
Registration Open for Converge 2025The inaugural event is being co-hosted by the American Gem Society and the Gemological Institute of America.
MajorsJan 30, 2025
24 Karat Club of New York Elects 5 New MembersJewelers of America’s Annie Doresca and AGTA CEO John W. Ford Sr. are among the new members.
CollectionsJan 29, 2025
Boucheron’s High Jewelry Takes the Form of ‘Untamed Nature’The jeweler’s latest high jewelry collection looks into the Boucheron archives to create a “living encyclopedia of high jewelry.”
FinancialsJan 29, 2025
LVMH Watch, Jewelry Sales End the Year DownWatch and jewelry sales slipped 3 percent in 2024, though the luxury conglomerate did see business pick up in the fourth quarter.
MajorsJan 29, 2025
Chanel Names New General Manager of Watches, Fine Jewelry for USOlivier Kessler-Gay will take over the role on March 3.
SurveysJan 29, 2025
Consumer Confidence Slips for Second Consecutive Month It hit a four-month low in January due to concerns about the job market, though consumers remain bullish about the stock market.
Events & AwardsJan 29, 2025
Chris Ploof To Teach Mokume Gane at AJSThe jewelry designer and master metalsmith will present on the ancient Japanese metalworking technique at the Atlanta Jewelry Show in March.
SourcingJan 28, 2025
WFDB Joins Efforts to Promote Natural Diamonds With New CampaignThe “Moments” social media campaign emphasizes the emotional ties between natural diamonds and life’s special milestones.
CollectionsJan 28, 2025
Bliss Lau Celebrates the Intricate Mosaic of Identity in New CollectionThe versatile “As We Are” collection features 14 pieces with interlocking designs allowing for 27 different looks worn around the body.
SourcingJan 28, 2025
Botswana’s First Olympic Gold Medalist Is Now a De Beers Ambassador Letsile Tebogo will help to promote natural diamonds and the good they have done for his country.
Events & AwardsJan 28, 2025
NouvelleBox Show Returns to New York CityThe showcase, in its second year, will feature more than 20 international brands at its curated event from Feb. 2-4.
Recorded WebinarsJan 28, 2025
Watch: Fine Jewelry Market Predictions for 2025 “My Next Question” guests Sherry Smith and Edahn Golan share their 2025 forecasts, from sales and marketing to what retailers should stock.
Events & AwardsJan 28, 2025
Here Is the 2025 AGTA GemFair Tucson Educational LineupThe seminar series covers topics from market trends and colored stone terminology to working with museums and growing an Instagram profile.
