Technology

Bergio International Acquires Jewelry E-Tailer Aphrodite’s

TechnologyFeb 24, 2021

Bergio International Acquires Jewelry E-Tailer Aphrodite’s

The acquisition will merge Bergio’s manufacturing capabilities with Aphrodite’s e-commerce skills.

Online jewelry retailer Aphrodite specializes in affordable fashion jewelry.

Fairfield, N.J.—Jewelry manufacturer and designer Bergio International has acquired online jewelry retailer Aphrodite’s, giving the company a stronger foothold in the e-commerce space.

The online jeweler specializes in statement necklaces and other fashion jewelry for women, with most of its best sellers under the $100 mark.

Aphrodite’s was acquired from digital and advertising agency Digital Age Business in a stock and cash deal, as per a filing with the United States Securities and Exchange Commission.

Digital Age Business has worked with well-known clients like Audi and Coca-Cola and now invests in technology and e-commerce companies.

While Bergio’s 2019 revenue was $600,000, Aphrodite’s clocked in at more than $10 million in 2020.

Founded in 2016, the e-tailer’s revenue grew to more than $31 million total over the four years.

“We have grown incredibly fast without a single outside equity investor, and I believe it is time for us now to get to the next level. We most definitely cannot do this alone,” Digital Age Business CEO Jonathan Foltz said.

Aphrodite’s will benefit from Bergio’s connections to factories and manufacturing and its operational skill sets, said Foltz.

“We have always intended to expand the company’s retail brick-and-mortar presence across the globe, but with the technological platform and personnel’s expertise we have acquired in this transaction, we can now also immediately become a direct to consumer ‘player’ in the global internet jewelry market,” said Bergio CEO Berge Abajian in a press release announcing the acquisition.

Though Bergio was founded in 1995, Abajian’s jewelry roots date back to the 1930s.

The third-generation jeweler said the company has been preparing for more acquisitions.

The acquisition of Aphrodite’s will blend Bergio’s “traditional know-how” with the online retailer’s ecommerce expertise to make Bergio more attractive to potential acquisition partners.

Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

WatchesApr 22, 2021
Check Out All Patek Philippe’s 2021 Newness

The watchmaker showed what’s new in Nautilus, revamped Calatrava models, and a brand-new perpetual calendar.

Policies & IssuesApr 22, 2021
US Government Sanctions Burmese State-Owned Pearl Co.

Myanmar Pearl Enterprise handles oyster fishing and breeding, as well as the culturing, harvesting, and selling of pearls.

MajorsApr 22, 2021
Tiffany Signs K-Pop Star Rosé as New Ambassador

Blackpink member Rosé will be the face of the 2021 Tiffany HardWear campaign.

Brought to you by
A New Golden Age

Gold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.

Events & AwardsApr 22, 2021
BIJC, Ben Bridge Introduce a New Scholarship

Named for the late Lonia Tate, the scholarship is for the Graduate Gemology program at GIA, with an internship at the jeweler to follow.

Weekly QuizApr 16, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of April 12-16, 2021.
Take the Quiz
Events & AwardsApr 22, 2021
IEG Pushes Oroarezzo Italian Jewelry Trade Show to 2022

It was originally slated for June 12-15 at the Expo Centre in Arezzo, Italy.

SourcingApr 21, 2021
Why Inclusivity Is Important in Diamond Traceability

As the importance of mine-to-market grows, some worry about its feasibility for all the diamond industry’s players.

Brought to you by
4 Reasons You Need This Program for Mother’s Day

Learn how to increase customer loyalty and revenue by making JM™ Care Plan a cornerstone of your business plan.

CollectionsApr 21, 2021
Alrosa’s ‘Luminous’ Collection Leans Into Fluorescence

The diamond miner and seller is marketing the stones for their glow.

×