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Brilliant Earth Group, Inc. (BRLT) is a pioneering e-commerce jeweler, revolutionizing the fine jewelry industry with a steadfast commitment to ethical sourcing and sustainability. Founded in 2005 by Beth Gerstein and Eric Grossberg, the company is headquartered in San Francisco, CA, and Denver, CO. Since its inception, Brilliant Earth has grown rapidly, becoming a global leader in ethically sourced diamonds, gemstones, and jewelry.
The company's mission is to create a more transparent, sustainable, and compassionate jewelry industry. Brilliant Earth designs, procures, and sells a vast array of fine jewelry both online and through its expanding network of over 37 showrooms across the United States and in more than 50 countries worldwide. The products range from engagement rings and wedding bands to fine jewelry and custom designs, all made with ethically sourced materials.
Recent Achievements:
- In 2023, Brilliant Earth reported record net sales, orders, and gross margins, completing its fourth consecutive year with positive adjusted EBITDA.
- The launch of the 2023 Mission Report, which underscores their commitment to sustainability, transparency, compassion, and inclusivity.
- Partnership with the Jane Goodall Institute, highlighting a shared dedication to sustainability and social responsibility.
Current Projects:
- Implementation of a $20 million share repurchase program, reflecting the company's robust financial health and commitment to delivering shareholder value.
- Expansion of the Renewable and Capture Collections, featuring lab-grown diamonds created using 100% renewable energy and captured-carbon processes, respectively.
Brilliant Earth's dynamic work environment encourages collaboration and innovation. The company frequently organizes cross-departmental meetings and social events, fostering a culture where every team member has a voice and can contribute to the company's mission.
Financial Condition:
Brilliant Earth maintains a strong balance sheet, which allows it to seize new opportunities and continue its growth trajectory. The company's revenue primarily comes from the U.S. market, but it also has a significant presence in international markets.
For more information, visit the Brilliant Earth website.
Brilliant Earth (Nasdaq: BRLT) has opened its first street-level showroom in New York City at 255 Elizabeth Street in Nolita. This expansion brings the company's total showroom count to 39 and marks its fourth location in the New York Metropolitan area. The new showroom features a jewelry try-on bar and private spaces for one-on-one appointments.
The location offers immediate purchase options for engagement rings, design-your-own pieces, and various jewelry collections, including the Jane Goodall Collection, the Perfect Collection, and the Sol Collection. The Nolita showroom joins existing locations in Manhattan, Brooklyn, and Roosevelt Field Mall on Long Island, strengthening Brilliant Earth's presence in the Northeast market.
Brilliant Earth (BRLT) reported Q3 2024 financial results with net sales of $99.9 million, down 12.5% year-over-year but within guidance range. The company achieved an 11% growth in repeat orders while total orders declined 1%. Gross margin expanded by 230 basis points to 60.8%. The company reported a GAAP net loss of $1.1 million and Adjusted EBITDA of $3.6 million. Despite challenging conditions, BRLT expanded its retail footprint to 40 showrooms and launched a new collection with Dr. Jane Goodall. The company raised its profitability guidance for the year while maintaining net sales guidance of $410-425 million.
Brilliant Earth (NASDAQ: BRLT), a global leader in ethically sourced fine jewelry, has announced its participation in the upcoming Sidoti Micro Cap Conference on November 13, 2024. The virtual event will feature a management presentation at 4:00pm ET, along with investor meetings throughout the day. The presentation will be accessible via live webcast through the company's investor website, with an archived replay available for one year after the event.
Brilliant Earth Group, Inc. (NASDAQ: BRLT), a global leader in ethically sourced fine jewelry, has announced its plans to report third quarter 2024 earnings results after the market closes on Thursday, November 7, 2024. The company will host an investor conference call and webcast to review the financial results and business outlook at 5:00pm ET/2:00pm PT on the same day.
Investors can access the webcast at https://investors.brilliantearth.com. To join the live conference call, participants need to register using the provided link: Brilliant Earth's 3Q24 Earnings Call. After registration, dial-in details and a unique conference call pin will be sent via email. A replay of the event will be available on the Brilliant Earth investor website after the live webcast concludes.
Brilliant Earth Group, Inc. (Nasdaq: BRLT) has launched the 'Rethink Everything You Know About Diamonds' campaign, featuring The Jane Goodall Collection. This campaign highlights the company's nearly two-decade leadership in ethical sourcing and diamond innovation. The Jane Goodall Collection, crafted with sustainably sourced materials, includes Capture Collection diamonds made in clean energy facilities using CO2 before atmospheric release.
The collection's design is inspired by Tanzania's banana leaves, symbolizing natural beauty and community importance. 10% of the collection's proceeds will benefit the Jane Goodall Institute, supporting habitat protection, women's health and education, local livelihoods, and environmental leadership. Available on BrilliantEarth.com and in 40 showrooms nationwide, this initiative reinforces Brilliant Earth's commitment to ethical luxury and consumer empowerment in making impactful choices.
Brilliant Earth (Nasdaq: BRLT), a leader in ethically sourced fine jewelry, is expanding its retail footprint with two new showrooms in Boston. The new Chestnut Hill showroom at 27 Bolyston Street is already open in 'The Street Chestnut Hill', while another showroom at 254 B Street in Seaport's 'The Superette' will open in November. The company is also renovating its Newbury Street location.
Co-Founder and CEO Beth Gerstein emphasized Boston's key role in their expansion. The new showrooms will feature try-on bars for a hands-on shopping experience and offer same-day purchases, personalization options, and one-on-one appointments with jewelry specialists. This expansion brings their total showroom count to nearly 40 locations nationwide.
The new showrooms will introduce customers to collections such as The Perfect Collection, The Sol Collection, and include engagement rings, Zodiac pendants, and gemstone cocktail rings.
Brilliant Earth Group, Inc. (NASDAQ: BRLT), a leader in ethically sourced fine jewelry, has expanded its international shopping capabilities to serve customers in over 150 countries worldwide. The company has partnered with Global-e, a leading e-commerce platform, to offer:
- Localized shopping experiences with product prices in local currencies
- Transparent total pricing including duties and taxes at checkout
- Preferred local payment methods
- Free shipping and returns to new markets
- Streamlined shipping and logistics
This expansion builds upon Brilliant Earth's existing localized experiences in Canada, the UK, and Australia. CEO Beth Gerstein highlighted the company's growing global brand presence, noting they have already served customers in over 50 countries.
Brilliant Earth Group, Inc. (NASDAQ: BRLT), a leader in ethically sourced fine jewelry, has announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference. The event will take place at the Conrad New York Downtown in New York City on September 4, 2024.
Key highlights include:
- A fireside chat presentation by CEO Beth Gerstein and CFO Jeff Kuo at 1:50pm ET
- Investor meetings throughout the day
- Live webcast of the presentation available on the company's investor relations website
- Archived webcast accessible for one year after the event
This participation offers investors an opportunity to gain insights into Brilliant Earth's strategies and performance directly from its top executives.
Brilliant Earth Group, Inc. (Nasdaq: BRLT), a leader in ethically sourced fine jewelry, has announced two key executive promotions. Pamela Catlett has been named Chief Brand Officer, overseeing brand strategy across all consumer touchpoints, including retail expansion and omnichannel experience. Sharon Dziesietnik has been appointed Chief Operations Officer, responsible for the company's overall operations, including supply chain and showrooms.
These promotions highlight Brilliant Earth's focus on driving long-term growth and operational excellence. Catlett, who joined in 2023, brings extensive experience from roles at Outdoor Voices, Under Armour, and Nike. Dziesietnik, with the company since 2012, has been instrumental in developing Brilliant Earth's operational strategy and growing its sales team to over 400 jewelry experts serving nearly 40 showrooms nationwide.
Brilliant Earth (Nasdaq: BRLT) announced its Q2 2024 financial results. Net sales declined by 4% year-over-year (YoY) to $105.4 million, aligning with guidance. Despite this, the company saw a 3.6% increase in total orders and a 17% boost in repeat orders YoY. Fine jewelry bookings surged by 29%, and gross margin rose by 320 basis points to 60.8%.
The average selling price (ASP) fell by 7.7% YoY. Net income was $1.4 million, and GAAP diluted EPS was $0.01. Adjusted diluted EPS was $0.03, surpassing expectations. Adjusted EBITDA stood at $5.5 million, also exceeding guidance.
The company plans to open three new showrooms in H2 2024. The six-month results also show a 2.5% drop in net sales to $202.8 million, with a 4.4% rise in gross profit. For Q3, the company anticipates a YoY net sales decline of 11-14% and break-even to low single-digit adjusted EBITDA.
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