Headlines

Jewelry Brand Gets $13M Investment

It plans to expand its online and offline operations.

Published

6 years ago

June 27, 2019

INSTORE Staff

NEW YORK — AUrate, a New York based direct-to-consumer fine jewelry brand, announced that it has completed a $13 million investment round.

With the Series A funding, led by Michael Platt of BlueCrest Capital, the company plans to expand its online and offline operations and direct investment in technology.

The round is “the largest in the fine jewelry category to date and one of the largest done in the consumer space,” according to a press release from the company. Additional participants include Point King Capital, Arab Angel Fund and Drake Management.

AUrate soft-launched in 2015, when co-founders Bouchra Ezzahraoui and Sophie Kahn held full-time jobs at Goldman Sachs & Marc Jacobs, respectively.

The brand was officially launched in 2017, with both online and offline stores. The co-founders went on to raise $2.6M in a seed round.

“I am committed to investing in founders who are strong operators and in companies that are category disruptors,” said Michael Platt, hedge fund manager, co-founder and CEO of BlueCrest Capital Management. “By putting the customer at the core of their strategy, Bouchra and Sophie have taken the D2C fine jewelry market by storm and, since 2017, have created a brand that has been able to brilliantly lead the charge in the category.

“Aurate’s robust revenue growth, retention and loyalty are unparalleled, and I truly see the company as (re)defining the jewelry luxury 2.0 space for the next generation of women.”

After 139 Years, A Family Legacy Finds Its Perfect Exit With Wilkerson.

When third-generation jeweler Sam Sipe and his wife Laura decided to close Indianapolis’ historic J.C. Sipe Jewelers, they turned to Wilkerson to handle their retirement sale. “The conditions were right,” Sam explains of their decision to close the 139-year-old business. Wilkerson managed the entire going-out-of-business sale process, from marketing strategy to sales floor operations. “Our goal was to convert our paid inventory into retirement funds,” notes Sam. “The results exceeded expectations.” The Sipes’ advice for jewelers considering retirement? “Contact Wilkerson,” Laura says. “They’ll help you transition into retirement with confidence and financial security.”