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Articles from DIAMOND JEWELLERY (1024 Articles), RINGS - ENGAGEMENT (287 Articles)










Blue Nile achieved double-digit revenue growth in Q2 across all major business categories
Blue Nile achieved double-digit revenue growth in Q2 across all major business categories

Blue Nile releases financial results, founder steps down

Online diamond and jewellery retailer Blue Nile has reported strong financial results for the second quarter of 2013, which included an 18.7 per cent increase in net sales. 

Net sales rose to US$108 million (A$122m) for the period, compared to US$91 million (A$103m) for the second quarter in 2012. 

Furthermore, international net sales increased 20.6 per cent to about US$17 million (A$19m), compared to approximately US$14 million (A$16m) the same period in 2012. 
     
"We are excited to have achieved double-digit revenue growth in the second quarter of 2013 across the three main categories of our business: US engagement, US non-engagement and international," Blue Nile president and CEO Harvey Kanter said.

"This represents the fifth consecutive quarter of double-digit growth and further demonstrates our position as a leading global retailer of high-quality diamonds and fine jewellery.”

Blue Nile co-founder, Mark Vadon
Blue Nile co-founder, Mark Vadon
In addition, it was announced that the Seattle-based company’s co-founder, Mark Vadon, would step down from his role as chairman and director of the board, effective from Tuesday 31 December 2013. Kanter will assume the role of chairman and the board will reportedly continue to have a lead independent director.

"Founding and being a part of Blue Nile for the past 14 years has been a great honour, and I am tremendously proud of the entire team for fostering our culture of innovation and obsession over each and every customer," Vadon said.

“After working with Harvey and his leadership team over the last year and seeing the impressive growth trajectory of the business, the entire board and I feel confident passing the chairmanship to Harvey to continue to build a global consumer brand."

Founded in 1999, Blue Nile claims it is the largest online retailer of certified diamonds and fine jewellery, offering in-depth educational materials, unique online tools and items priced “significantly below traditional retail”. 










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