Connect with us

Headlines

Online Jeweler Gets $140M Investment

mm

Published

on

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. 

Advertisement

Read the full press release.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

Promoted Headlines

Most Popular