Record Sales at Brilliant Earth
March 25, 24(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler" reported record net sales, orders and gross margins for 2023.
During the last quarter of the year it achieved its highest ever number of orders, up 18 per cent to 52,935, although the average value of each order was down 11.8 per cent to $2,349.
"In 2023, we again reported record net sales, orders and gross margins and completed our fourth consecutive year with positive adjusted EBITDA," said CEO Beth Gerstein in a statement.
Net sales for Q4 2023 were $124.3m and for FY 2023 they were $446.4m. Gross profit for the three months ending 31 December was $73m, up 11.6 per cent on Q4 2022.
"In 2024, we expect to continue making investments that will set the stage for long-term sustainable growth while also driving current and future share gains and profitability in the context of a still-normalizing industry," said Jeff Kuo, Brilliant Earth's chief financial officer.
The San Francisco-based company launched in 2005 as a "digitally native, omnichannel fine jewelry company".
Pic courtesy Brilliant Earth.