Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.

Lenore Fedow lenore.fedow@nationaljeweler.com

Brilliant Earth three stone Sabine diamond engagement ring

The “Sabine” cluster diamond engagement ring in 18-karat yellow gold with two emerald-cut diamonds and a cluster of round diamonds ($3,590, setting only) from Brilliant Earth’s “Mosaics” collection. The jewelry retailer saw sales decline 4 percent in the first quarter.

San Francisco—Brilliant Earth had a mixed start to the year with first-quarter net sales down while the total number of orders rose by double digits.

The jewelry retailer noted an improvement in engagement ring sales and a strong Valentine’s Day performance.

It recorded its 15th consecutive quarter of profitability since going public in 2021.

“The positive engagement ring unit trends, coupled with our most successful Valentine’s Day ever, reinforces our confidence in our premium brand positioning and differentiated product offerings,” CEO Beth Gerstein said in a statement.

Net sales in the first quarter 2025, which ended March 31, were down 4 percent year-over-year to $93.9 million, compared with $97.3 million in Q1 2023.

The results were in line with the company’s expectations of $93.5 million to $95.5 million in sales.

Gross profit was $55 million, or a 59 percent gross profit margin, compared with $58.3 million, or a 60 percent gross profit margin, in the prior-year period.

The total number of orders in the first quarter rose 12 percent, with repeat orders up 13 percent, while the average order value (AOV) fell 14 percent.

Brilliant Earth has noted in previous quarters that non-bridal jewelry sales are increasing but the category has a lower average price point, which is bringing down its AOV.

On an earnings call Tuesday, CEO Beth Gerstein shared quarterly highlights, including its engagement ring sales, the most popular fashion jewelry styles, and the potential impact of tariffs on its business.

As for tariffs, Gerstein said the same thing Pandora executives said earlier this week—the company is monitoring the situation closely.

“We feel confident that our geographically diversified supplier base and strong supplier relationships limited direct exposures to China,” she said. “Our price optimization engine and agile data-driven team give us a competitive advantage over the industry to navigate changes in any environment.”

Chief Financial Officer Jeff Kuo said the company expects gold prices and tariffs to have only a limited impact on gross margin in Q2.

“Over the balance of the year, assuming that tariff rates and metal prices are the same as they are today, we expect to be able to further mitigate their impact through our pricing and procurement strategy,” he said.

As for the high price of gold, Gerstein also discussed possible price increases, noting it leans on data for those decisions.

“The pricing optimization engine allows us to be really thoughtful about how we’re pricing,” she said. “So, we’re going to continue to implement new tests and try and understand what the appetite is from the consumer level.”

Brilliant Earth is keeping its costs down as much as it can, she said, and is aware of the pressure consumers are feeling.

She added that its proprietary collections allow it to have more flexibility in pricing.