Majors

Brilliant Earth Is Now a Public Company

MajorsSep 24, 2021

Brilliant Earth Is Now a Public Company

CEO Beth Gerstein said she believes in the jeweler’s omnichannel approach as its retail rollout continues.

An 18-karat white gold “Petite Crescent Cushion Bloom” diamond ring, featuring a cushion-shaped halo ($5,150 for setting only) from the Tacori x Brilliant Earth collection. Brilliant Earth began trading on the Nasdaq Thursday morning.
New York—Brilliant Earth made a lukewarm Nasdaq debut Thursday morning, downsizing its initial public offering and pricing shares below the expected range.

The San Francisco-based jeweler halved its IPO offering to 8.33 million shares priced at a lower-than-anticipated $12 each.

It had planned to sell nearly 16.7 million shares at between $14 and $16 each.

Trading under the ticker symbol “BRLT,” the company now has a valuation of about $1.1 billion.

The company has granted underwriters a 30-day option to purchase up to an additional 1.25 million shares.

Shares of Brilliant Earth were trading just above $17 after Friday morning’s opening bell.

“Looking at where it was priced versus the preliminary ranges it seems initial expectations were too high,” said diamond industry analyst Paul Ziminsky.

“That said, it’s still garnering a nice premium relative to the universe [of other jewelers].”

 Related stories will be right here … 

Brilliant Earth CEO Beth Gerstein appeared on Fox Business Thursday morning to talk about the company’s IPO, its omnichannel shopping model, lab-grown diamonds, and more.

The company now operates 14 showrooms across the U.S. in addition to its online store.

As its physical retail rollout continues, Gerstein said the company is still digital-first but aims to deliver “a true omnichannel shopping experience.”
 
“Jewelry is a really considered purchase. Customers just really like to have more one-on-one interaction. Knowing that there’s a showroom nearby just helps unlock that conversion and is reassuring to the customer,” she said during the interview.

The jeweler sells both natural and lab-grown diamonds, and Gerstein noted that while affordability is a factor when choosing between the two, its customers take other factors, particularly design, into consideration before making a purchase.

“Our job, as a retailer, is really to provide different options for our customers, offer them side-by-side, and provide education,” Gerstein told Fox Business.

To celebrate its Wall Street debut, the company staged a surprise engagement for customers Anthony and Priscilla just outside the Nasdaq MarketSite in Times Square.
 

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

The Latest

AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own

Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”

CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery Arrested

A total of four suspects are now in custody with police still on the lookout for the remaining two.

ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store Events

From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai

The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.

Weekly QuizSep 22, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New Collection

The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.

GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad

The Gemological Institute of America also announced plans for events in New York and London in 2023.

SourcingSep 23, 2022
See the Items in Gem Legacy’s 4th Anniversary Benefit Auction

One hundred percent of proceeds will benefit the nonprofit’s silicosis prevention initiative.

CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ Amulet

Inspired by antique coins, it depicts a “hippocamp” from Greek mythology.

EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit

Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.

TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.

Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.

Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry Industry

Sponsored by Bloomreach

SourcingSep 22, 2022
First Diamond Recovered From Burgundy’s Ellendale Restart

Burgundy also announced the retail launch of its diamond brand, Maison Mazerea.

Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting Applications

Organizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.

Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More

As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.

TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the Holidays

These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.

SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond Specialist

Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.

Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future

Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.

AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction

The auction house is celebrating 100 years since the discovery of King Tut’s tomb.

Events & AwardsSep 21, 2022
Ethical Gem Fair Heads to NYC for the First Time

The event is slated for Oct. 20-22 at Brooklyn Metal Works.

MajorsSep 21, 2022
Hearts On Fire Announces Sales Teams Changes

Jacqueline Raffi has been promoted to vice president, sales, North America.

×

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