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Brilliant Earth Raises $115M in IPO

Shares now trade on the Nasdaq Global Market under the symbol BRLT.




Brilliant Earth Group Inc. has raised $115 million in an initial public offering.

The jewelry company’s shares now trade on the Nasdaq Global Market under the ticker symbol BRLT.

Beth Gerstein, CEO of the company, told WWD that the IPO doesn’t fundamentally changes anything about Brilliant Earth’s approach.

“We are growing in a profitable way and are focused on long-term value,” she said. “We will continue with the same position, same focus of really offering design-driven and beautiful products that are joyful, a personalized experience and omnichannel approach.”

Brilliant Earth, which focuses on ethical sourcing of gemstones, in August stated that it has served 370,000 customers through its e-commerce platform and 13 showrooms. The company said at the time that six new showrooms were in the works.

In its IPO, the company sold 9,583,332 shares of its Class A common stock, including the full exercise by the underwriters of their option to purchase 1,249,999 shares of Class A common stock at a price to the public of $12 per share


The stock closed at $13 on Sept. 29.

Brilliant Earth posted net sales of $251.8 million in 2020, with net income of $21.6 million.

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When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”

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