Headlines

New Owners of Ice.com Plan to Make It Biggest Jewelry Store on the Internet

Published

8 years ago

January 26, 2016

INSTORE Staff

The owners want to bring pricing transparency to the industry.

Maybe you remember Ice.com. It used to be an online jewelry store, but it went by the wayside during the recession. Now, Tech Crunch writes, the domain name is owned by two men who purchased it for $3 million in 2014 to set up their own jewelry marketplace with a fair-pricing business model.

According to the article, Ice.com negotiates with vendors on pricing and requires that items be sold at an undisclosed percent off from competitive market pricing. The website targets the middle of the market and currently offers more than 100,000 SKUs, though the owners – both of whom have impressive track records in e-commerce – plan to ramp up that number to as high as 500,000 by the end of the year, which would make Ice.com the biggest online jewelry marketplace. They also recently raised $2 million from a gaggle of venture capitalists that should help them move closer to that distinction.

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