Headlines

Online Jeweler Gets $140M Investment

Published

7 years ago

April 7, 2017

INSTORE Staff

The company says it’s growing rapidly.

Online jeweler JamesAllen.com has received a $140 million investment from San Francisco-based private equity firm Francisco Partners.

The funding will “further accelerate the company’s rapid expansion,” according to a press release from James Allen parent R2Net.

“We are thrilled to partner with the team at Francisco Partners to continue our journey of disrupting the diamond industry,” said R2Net’s co-founder and CEO Oded Edelman. “We have a shared vision that consumers deserve a better diamond buying experience and we are demystifying the process.”

Although the size of Francisco Partners’ stake in James Allen was not revealed, the New York Post reports that it is close to 50 percent.

According to the release, James Allen has tripled in size in the last two years.

“What we love about JamesAllen.com is they are using innovative technology to bring simplicity, vast selection, pricing transparency and overall value to the process by letting consumers shop directly for the exact diamond they want, but at a much lower price,” said Matt Spetzler, partner at Francisco Partners.

Read the full press release.

click to Comment(Comment)

Up Next

How NOT to Respond to a Negative Review — a Cautionary Tale

Don't Miss

12 Accused in $9M Diamond Fraud Case, and Other News From This Week

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.”