CRANSTON, RI — Luca + Danni Inc., a online jewelry brand based in Rhode Island, has closed on $6.2 million in funding, with Ross-Simons Inc. becaming the majority investor in the deal.
PJC, a Boston-based VC Fund and early investor in Luca + Danni, will retain a stake in the company.
The investments “create a powerful partnership between an iconic jewelry company and three-year-old digital brand,” according to a Luca + Danni press release.
Fred Magnanimi, founder of Luca + Danni, will remain as CEO and board member.
“I started this brand to honor my family’s 50+ year heritage in US made handcrafted jewelry and help others embrace the journey of life as I learned to do after losing my brother to leukemia,” said Magnanimi. “With the amazing resources and strategic support of Ross-Simons and PJC, I am confident we will help millions embrace their own journey and continue to build our community.”
Ross-Simons, also based in Rhode Island, has a long history in retail and direct-to-consumer jewelry sales.
“Luca + Danni is a digitally native brand rapidly taking market share in the jewelry space,” said Jim Speltz, president of Ross-Simons. “Our resources, product expertise, and go-to-market experience matched with Luca + Danni’s powerful brand will foster meaningful growth in the evolving e-commerce world.”