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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.
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