Ethical Jeweler Brilliant Earth to go Public
September 01, 21
(IDEX Online) - Brilliant Earth, the US-based "ethical jeweler", is going public with an IPO initially set at $100m, it announced on Monday.
It follows a leap in sales of almost 45 percent, to $163m in the first half of this year.
The digital-first company was founded by Beth Gerstein and Eric Grossberg in San Francisco in 2005.
Gerstein had failed to find ethically-produced engagement ring. She and Grossberg went on to create what they call Beyond Conflict Free Diamonds, a new and rigorous protocol for sourcing diamonds and other gems. It sells both mined and lab grown diamonds.
The founders will retain control of the company and will have a majority of the shareholder voting power. Its shares will be traded on Nasdaq under the symbol BRLT.
Pic courtesy Brilliant Earth