Blue Nile Now Selling Lab Grown Engagement Rings
November 13, 22
(IDEX Online) - Blue Nile is, for the first time, moving into lab grown bridal jewelry.
The new direction follows the $360m all-cash buyout by Signet in August.
Blue Nile, an online-only retailer, announced a deal in November 2020 to sell fashion jewelry produced by Lightbox, De Beers' lab grown division.
But this marks its first foray into the world of engagement rings and loose diamonds.
The "design your own ring" facility on its website currently offers just over 7,000 lab growns, compared to 438,000 natural diamonds.
The lab growns range from a 0.57-ct D / VVS2 at $724 to a 4.19-ct D / VVS2 at $36,536.
Signet said in August that acquiring the company was a strategic acquisition that would "accelerate efforts to expand its bridal offerings and grow its Accessible Luxury portfolio."
Blue Nile, established in Seattle in 1999, and went public in 2004. It was bought privately by Bain Capital Private Equity and Bow Street LLC for $500m in 2016.
It revealed plans to rejoin the stock market, with a valuation of $873m, shortly before the Signet acquisition was announced.