The DTC jewelry company, which is focused on ethical sourcing of gemstones, listed the size of the offering as $100M, a placeholder that will change when terms of the share sale are set.
Brilliant Earth’s filing came the day after another digitally native company, Allbirds, filed for its own IPO. The two announcements occur during what is already a record year for US listings, which shows no signs of stopping as companies rush to go public in the final months of 2021, reported Bloomberg.
Founded online in 2005, Brilliant Earth targets millennial and GenZ consumers. Through its “create your own” model, customers can choose their engagement ring design, precious metal type and ring size, and select their diamond or gemstone from the company’s marketplace. Over two-thirds of its ring collection is available exclusively at Brilliant Earth.
The company said that it has served 370,000 customers through its e-commerce platform and 13 brick-and-mortar showrooms. Additional locations are in the works, including Austin and Dallas and its first location in New York City. The outposts operate on an appointment-based, inventory light model that offers one-on-one personalised interaction that integrates with the company’s online experience.
