Brilliant Earth Reports Best Ever Mother's Day
August 13, 23
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", reported a rise in Q2 sales, driven by its best ever Mother's Day performance.
The total numbers of orders was up by over 21 per cent, although the average value of those orders dropped by 16 per cent compared with Q2 2022 as customers tightened their belts. The average order value was $2,571.
Net sales for Q2 were $110.2m a year-on-year increase of 1.3 per cent. Gross profit was $63.5m compared to $57.8m in Q2 2022.
The San Francisco-based company, launched in 2005 as a "digitally native, omnichannel fine jewelry company" says it opened four new showrooms during the quarter, bringing its US total to 32.
CEO Beth Gerstein said: "During the quarter, we delivered our best Mother's Day gifting performance in our history while also continuing to grow our market share and expanding our showroom footprint.
"We delivered a strong second quarter, highlighted by: increased revenue with sustained growth on a four-year CAGR basis; expansion in gross margin and an adjusted EBITDA that exceeded our expectations, reflecting the increasing resonance of our premium brand, the agility with which we execute and the advantages of our asset light, data-driven operating model."
Pic courtesy Brilliant Earth