Connect with us

Headlines

Brilliant Earth Raises $115M in IPO

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

mm

Published

on

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

Advertisement

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.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Thinking of Liquidating? Wilkerson’s Got You Covered

Bil Holehan, the manager of Julianna’s Fine Jewelry in Corte Madera, Calif., decided to go on to the next chapter of his life when the store’s owner and namesake told him she was set to retire. Before they left, Holehan says they decided to liquidate some of the store’s aging inventory. They chose Wilkerson for the sale. Why? “Friends had done their sales with Wilkerson and they were very satisfied,” says Holehan. He’d enthusiastically recommend Wilkerson to anyone looking to stage a liquidation or going-out-of-business sale. “There were no surprises,” he says. “They were very professional in their assessment of our store, what we could expect from the sale and they were very detailed in their projections. They were pretty much on the money.”

Promoted Headlines

Most Popular