By Exec Edge Editorial Staff
Brilliant Earth Group, Inc. (Nasdaq: BRLT), a digital-first jewelry company and global leader in ethically sourced fine jewelry, reported a surge in net sales in the second quarter.
Net sales were $108.8 million, a 17.8% increase over the prior year, the company said in a statement.
Gross margin expanded by 460 basis points to a record 53.1% for the second quarter, driven by continued strong brand resonance, performance of the company’s price optimization engine and procurement efficiencies.
The company opened six new showrooms in Bethesda, Columbus, Houston, Minneapolis, Cleveland and Detroit.
“We remain excited about our business outlook, as we begin the second half of the year, which is reflected in our reaffirmation of our fiscal year guidance,” said CEO Beth Gerstein. “With a proven track record over 17 years and significant opportunities for growth, we believe we are in a great position to extend our industry leadership as the jeweler for the next generation consumer in the near and long term.”