Headlines

Online Jewelry Retailer Raises $23M

The company has found a niche in self-purchasing millennial women.

Published

5 years ago

May 1, 2019

INSTORE Staff

Direct-to-consumer jewelry brand Mejuri has closed on a $23 million funding round, TechCrunch reports.

The company will use the money to fund offline expansion and to enter new markets. It will also focus on branding and customer experience.

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Launched in 2015, the company has raised $29 million in all.

Venture capital firm New Enterprise Associates led the new round. Other investors included Felix Capital, BDC Capital, Incite Ventures and Dash Ventures.

Mejuri has found a niche in self-purchasing millennial women.

“Mejuri’s mission really hits home for me,” TechCrunch quoted NEA partner Vanessa Larco saying.

“I noticed a shift in trends when none of my friends wanted to go to any of the traditional fine jewelry companies to purchase jewelry anymore, and I realized a lot of those big brands were in trouble.”

Read more at TechCrunch

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.”