Financials

Brilliant Earth’s 2024 Sales Struggled Amid Engagement Recovery

FinancialsMar 13, 2025

Brilliant Earth’s 2024 Sales Struggled Amid Engagement Recovery

CEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.

Woman wearing Brilliant Earth jewelry
A model wears Brilliant Earth jewelry, including pieces from its collaboration with Jane Goodall. The jewelry company posted declining sales in its recent financial results.
San Francisco—Brilliant Earth posted declining revenue in Q4 and for the full year, though it saw a rise in total orders and growing demand for its non-bridal fine jewelry offerings.

The San Francisco-based retailer is celebrating its 20th anniversary this year.

On an earnings call Wednesday evening, CEO Beth Gerstein said, “We continue to operate in a highly dynamic environment encompassed by pricing shifts in both lab and natural diamonds, normalizing engagement trends, and changing trends in consumer sentiment.”

Gerstein noted that Q4 marked its 14th consecutive quarter of profitability as a public company.

Net sales in the fourth quarter, which ended Dec. 31, were down 4 percent year-over-year to $119.5 million, with net income up 35 percent to $2.6 million.

Gross profit was $71.2 million, or a 60 percent gross profit margin, compared to $73 million, or a 59 percent gross profit margin, in the prior-year period.

The total number of orders in the fourth quarter rose 10 percent to 58,357 orders, though the average order value (AOV) fell 13 percent year-over-year to $2,048.

The company has noted in previous quarters that sales of non-bridal fine jewelry are on the rise, but the category has a lower average price point, which is bringing down its AOV.

The brand’s holiday performance, included in Q4, exceeded its expectations, said Gerstein, particularly during Cyber Week, both online and in stores.

Black Friday was its biggest day for appointment bookings in company history, she added.

For the full year, the company saw net sales down 5 percent to $422.2 million, with net income down 16 percent to $4 million.

Gross profit for the fiscal year was $254.4 million, or a 60 percent gross profit margin, compared to $257 million, or a 58 percent gross profit margin, in the prior year.

Total orders were up 7 percent year-over-year to 186,030 orders, but AOV was down 11 percent to $2,269.

Customers are returning to shop with the jeweler more than once, with the company noting repeat orders grew 18 percent year-over-year in Q4 and 17 percent for the full year.

“This trend reaffirms the resonance of our strong brand and compelling product designs. As more consumers discover our joyful shopping experience, it’s gratifying to see them returning time and time again, especially in a peak gifting quarter,” said Gerstein on the call.

Brilliant Earth is best known for its bridal offerings but has been expanding its fine jewelry selection, branching out into cocktail rings and men’s jewelry.

It has also collaborated with popular designers for new collections, including Tacori, Jade Trau, and Logan Hollowell. Its recent partnership with Jane Goodall was its most successful fine jewelry collaboration to date, said Gerstein.

It was a “banner quarter” for non-bridal fine jewelry, said Gerstein. The most popular styles included diamond tennis jewelry, diamond studs and hoops, and jewelry from its “Sol” collection.

Brilliant Earth also expanded its “under $1,000” assortment to appeal to those buying holiday gifts for others or themselves. 

The company said its showroom bookings for fine jewelry grew double digits in Q4, accounting for a record 27 percent of appointments in December.

 Related stories will be right here … 

Fine jewelry has been a bright spot for its balance sheet as engagement ring sales continue to struggle in the wake of the COVID-19 pandemic.

Looking at the bridal market, the average selling price for engagement rings was down in Q4, said Gerstein, noting that Brilliant Earth saw a stronger performance in price ranges under $5,000, a price point where it has seen the strongest consumer demand.

However, she noted the best year-over-year units comp for engagement rings in Q4 compared to other quarters this year.

“We believe the trajectory of our bridal business can be improved over last year as we amplify our brand with continued success in differentiating designs, diamond leadership, and an industry-leading omnichannel experience,” said Gerstein.

Its signature bridal collection did especially well, she said, adding that it recently introduced the new “Flawless” collection, featuring flawless and internally flawless diamonds.

Gerstein also highlighted its “Rethink Everything You Know About Diamonds” campaign, which challenges customers to change their perceptions about diamonds and emphasizes the impact their choices have on communities and the environment.

Though it started as an online-only business, Brilliant Earth has been expanding its brick-and-mortar presence in recent years, ending 2024 with 40 locations.

The company plans to open two to three new showrooms this year, including its most recent showroom opening in Southlake, Texas.

Looking to the year ahead, the company is expecting first-quarter net sales of $93.5 million to $95.5 million with adjusted EBITDA of $0 to $1.5 million.

For fiscal 2025, Brilliant Earth is forecasting net sales growth of 1 to 3 percent year-over-year with an adjusted EBITDA margin of 3 to 4 percent. 

The company will continue to make medium and longer-term investments in 2025, including in employee costs as it continues its expansion, said Chief Financial Officer Jeff Kuo on the call.

“We believe that these investments, including in our premium brand, product assortment, and innovative omnichannel experience, drive compelling [return on investment] and will begin to show returns starting in the second half of 2025 and beyond,” said Kuo.

The company previously stated its medium-term target is to see a net sales growth rate in the low-teens with double-digit growth in its adjusted EBITDA margin in 2027.

The company also released its 2024 Mission Report, highlighting its commitment to “transparency, sustainability, compassion, and inclusivity.”

The Latest

Jeweler setting a diamond into a ring
MajorsJul 21, 2025
Rio Grande Expands Personalization Offerings

As demand for custom jewelry grows, the company is expanding its services to support retailers.

National Associate of Jewelry Appraisers Logo
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go Virtual

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Jacquie Aiche graduated turquoise beaded necklace
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

24th Gem Awards Show Logo
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

Weekly QuizJul 17, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Lewis Heyman
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement Plans

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

CCWW Designs Multiple Shell Charm Necklace
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm Necklace

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The Plumb Club board members
MajorsJul 18, 2025
Plumb Club Elects New Board Members

The organization elected its youngest vice president as it looks to draw in fresh talent.

Jewelry industry veterans Brad Campbell and John Liebler
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

Silver, Gold, and Bronze Medals for Italy Olympic Winter Games
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes Unity

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

vimeo screenshot.png
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up!

Sponsored by The INSTORE Jewelry Show 2025

Guinness
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGov

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

Gina Ferranti
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Rio Tinto Chief Executive Simon Trott
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at Diavik

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

Jewelers of America Learning Workship Logo
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This Fall

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

Gold bracelets and bangles
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers List

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

Rolex Datejust ref. 16233
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

Jean Dinh Van Orgue Ring
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With Exhibition

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth Generation

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

Boucheron Impermanence Boucheron Dragonfly Earrings and Wisteria Hair Piece
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s Impermanence

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

James Avery Cedar Park
MajorsJul 15, 2025
James Avery Expands to 2 More States

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford, Couture’s new brand director and former fine jewelry buyer at Neiman Marcus
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director

Eric Ford will step into the role, bringing with him decades of experience.

Bench jeweler holding a ring and a tool
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic Manufacturing

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

Guzema Celestial Blue
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone Jewelry

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

Nanis Mykonos Store Exterior and Interior
MajorsJul 14, 2025
Nanis Opens First Store

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

Long’s Jewelers Summer of Love promo
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s Jewelers

The New England jeweler is hosting a bridal event for the month of August.

×

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