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

MajorsOct 22, 2021
These Jewelry Companies Are Among the World’s Most Valuable Brands

That’s according to Interbrand, which just released its 2021 list of 100 Best Global Brands.

WatchesOct 22, 2021
New Citizen Campaign Shines Light on Solar Power

The “Purposeful Power” campaign will raise money for Everybody Solar, which provides solar power to nonprofits.

CollectionsOct 22, 2021
The Artistry 2022 Catalog Is Out

It’s full of bestsellers to stock up on.

Brought to you by
Buying a Diamond is More Than Knowing the 4C’s

Buyers may be excited about online diamond deals, but there are uncertainties surrounding the authenticity and clarity of the diamonds.

CollectionsOct 22, 2021
Piece of the Week: Nouvel Heritage’s Mood Necklace

The brand’s signature bangle gets a necklace companion.

Weekly QuizOct 22, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Oct. 18-22, 2021.
Take the Quiz
SurveysOct 21, 2021
10 Retailers on Why They Expect the Diamond Boom to Continue

However, their optimistic outlook comes with a hint of caution due to a number of factors out of their collective control.

SourcingOct 21, 2021
This Coffee-Table Book Is the Perfect Present for Diamond Lovers

The tome offers an appreciation for the stone through the voices of celebrities, designers, and other diamond lovers.

Brought to you by
Viva Italia! Why the JCK Italian Pavilion Was a Sight Worth Seeing at JCK Las Vegas

One of the highlights of the JCK show in Las Vegas has always been the Italian Pavilion, buzzing with excitement and elegance.

ColumnistsOct 21, 2021
Squirrel Spotting: It’s a Diamond Moment!

It’s no doubt diamond sales are booming, but why? Peter Smith explores the complicated reasons why consumers want the stones right now.

×