Led by innovative technology, Franco-American craftsmanship, and direct-to-consumer economics, the company is rapidly becoming a disruptive force in the $250 Billion2 global jewelry industry.
To understand the company’s potential, it is important to first appreciate the scale of the global jewelry industry. Every day, nearly $1 billion worth of jewelry is purchased as gifts for loved ones, to mark a special moment in time, or as a form of personal expression.
Increasingly, jewelry is being purchased online with that trend expected to grow in the future. According to research firm Technavio3, internet sales of jewelry are expected to reach $30 billion a year in 2021.
The jewelry industry is extremely consolidated with a handful of brands representing the majority of global sales. For example, just two companies: Tiffany & Co. (NYSE: TIF) and Pandora (US: PANDY), sold over $8 billion of jewelry last year and have combined valuations of over $20 Billion on the stock market.