By Exec Edge Editorial Staff
Brilliant Earth Group, Inc. (Nasdaq: BRLT) on Wednesday reported a 15.7% jump in sales in 2022 on growing demand.
The digital-first jewelry company said net sales increased to $439.9 million in 2022 compared to $380.2 million in the 2021 fiscal year, with strength across the company’s product lines.
It also reported a 53.3% gross profit margin for 2022, compared to a 49.3% gross profit margin in the 2021 fiscal year.
“We expect to broaden our consumer reach and drive ongoing customer loyalty with sought after design innovation, high impact marketing, expansion in fine jewelry and the opening of new showrooms, while continuing to elevate our omnichannel experience and enhance the joyful experience we provide,” said Beth Gerstein, Co-Founder and Chief Executive Officer. “As our guidance reflects, we are confident that fiscal 2023 will represent another year of significant accomplishments for Brilliant Earth.”
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