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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 Group, Inc. (Nasdaq: BRLT) has opened its 30th showroom in Nashville, Tennessee, enhancing its retail presence in the Southern U.S. Located in the lively Gulch district, the showroom aims to provide a unique shopping experience with ethically sourced fine jewelry. Customers can engage with expert jewelry specialists and utilize advanced tech tools for an optimized shopping experience. The launch coincides with Mother's Day, promoting gifts with personalized options. With a commitment to sustainable practices, Brilliant Earth continues its mission of transparency and compassion in the jewelry industry, serving over 50 countries from its showrooms in San Francisco and Denver.
Brilliant Earth Group, a leader in ethically sourced fine jewelry, announced the opening of its 29th showroom in Pasadena, California. This new location, situated in the One Colorado shopping district, enhances the company's omni-channel retail strategy. Kathryn Money, SVP of Merchandising and Retail Expansion, emphasized the seamless shopping experience provided by knowledgeable jewelry specialists. The showroom coincides with the expansion of the company’s personalization offerings, allowing customers to create meaningful, customizable gifts ahead of Mother's Day. Brilliant Earth continues to prioritize sustainability and quality in its product range, making it accessible to customers both in-store and online.
Brilliant Earth Group (Nasdaq: BRLT) announced that its Co-Founder and CEO, Beth Gerstein, was recognized in Inc.’s sixth annual Female Founders list, celebrating 200 women leading impactful changes across various industries.
Gerstein's journey began in 2005 after struggling to find ethically sourced engagement rings, prompting her to start a company that now leads in ethically sourced fine jewelry. Brilliant Earth operates 28 showrooms in the U.S. and serves over 50 countries worldwide, maintaining a commitment to transparency and sustainability.
Brilliant Earth Group (Nasdaq: BRLT) has opened its 28th showroom in Midtown Tampa, a vibrant new retail district. This store will provide customers access to a wide range of ethically sourced fine jewelry, including engagement rings and fashion pieces. The location aims to enhance the shopping experience for a growing population in Tampa, recognized as one of the Southeast's fastest-growing cities. The showroom emphasizes Brilliant Earth’s commitment to sustainability, featuring Beyond Conflict Free Diamonds and lab-grown options. The company continues to prioritize both digital and in-store shopping experiences, appealing to Gen Z and Millennials.
Brilliant Earth Group (Nasdaq: BRLT) has opened its 27th showroom in Williamsburg, New York, marking the company's second location in NYC. The 3,000-square-foot store features six appointment stations for private consultations, aiming to enhance customer experience. With a focus on ethically sourced fine jewelry, Brilliant Earth caters to Gen Z and Millennials, offering customizable options like name plate necklaces and Zodiac pendants. The showroom emphasizes a digital-first approach, enabling customers to engage with the brand both online and in person. This expansion supports Brilliant Earth's mission to create a transparent and sustainable jewelry industry.
Brilliant Earth Group (Nasdaq: BRLT) has released its 2022 Mission Report, highlighting its achievements in sustainability, transparency, compassion, and inclusion. The company reported 98% of gold and 97% of silver used in its jewelry came from recycled sources, with an increase in recycled gold usage by 5% from 2021. As part of its ESG goals, Brilliant Earth aims to audit all moderate to high-risk suppliers by 2023 and achieve 100% recycled or Fairmined certified metals by 2025. The company has also tripled its charitable donations and increased Fairmined gold purchases by 27%. Brilliant Earth remains committed to transforming the jewelry industry ethically.
Brilliant Earth (BRLT) reported a 15.7% increase in net sales for FY 2022, totaling $439.9 million, with net income of $19 million and Adjusted EBITDA of $39 million. Q4 sales decreased 1.9% to $119.6 million, though total orders rose 13.7%. The gross margin improved to 54.7% in Q4, up 360 basis points year-over-year. The company opened 10 new showrooms in 2022, growing to 25 in total. For FY 2023, Brilliant Earth expects net sales between $460 million and $490 million, with Adjusted EBITDA projected at $17 million to $32 million.
Brilliant Earth Group, Inc. (Nasdaq: BRLT) announced it will release its fourth quarter and fiscal year 2022 earnings results after market close on March 15, 2023. The Company will hold a conference call and webcast at 5:00 PM ET to discuss these results and provide a business outlook. Interested investors can access the webcast on Brilliant Earth's investor relations website. Established in 2005, Brilliant Earth has become a leader in ethically sourced fine jewelry, operating 26 showrooms and serving customers in over 50 countries. This announcement underscores the Company's commitment to transparency and sustainability in the jewelry industry.
Brilliant Earth has opened its 26th showroom in Charlotte, North Carolina, marking its first retail presence in the Carolinas. This expansion aligns with the upcoming Valentine's Day gifting season, featuring new heart-shaped lab diamond jewelry and personalized options. The showroom, located in the vibrant South End district, offers a bright, welcoming environment with one-on-one consultations supported by online capabilities. Brilliant Earth continues to expand its reach, joining other locations across major U.S. cities and enhancing its omnichannel shopping experience.
Brilliant Earth has opened its 25th showroom in Santa Monica, California, enhancing its presence in the state. This new location follows the recent Palo Alto showroom, marking it as the fifth in California. The showroom offers a range of ethically sourced jewelry and personalized services, aligning with the company’s digital-first approach. Positioned in the Santa Monica Place shopping center, it serves customers looking for engagement rings and unique gifts during the holiday season. The expansion supports Brilliant Earth’s mission of promoting a more sustainable jewelry industry.
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