BaubleBar is dominating the jewellery scene.
The online jewellery startup company, founded by Amy Jain and Daniella Yacobovsky, has tripled orders fewer than five years after launching, Sarah Lawson of Fast Company reports.
The company is known for selling fashionable but low-priced jewellery — consider it the fast-fashion version of the jewellery scene.
Last year, the company raised an additional $US10 million in venture capital funding, Fortune reported. The company does not disclose its revenue.
Along with that, the company has begun opening brick-and-mortar stores. Its first full-fledged store opened at the Roosevelt Field Mall in Long Island this summer. The company has already experimented with pop-up stores. Currently, Nordstrom, Anthropologie, and Bloomingdales — the latest addition — sell the company’s jewellery.
The introduction of offline shopping has helped business. “Our offline strategy is taking a new life of its own this year,” Jain said to Inc. last year. “We have always planned to go at it on our own in physical retail, because touching and feeling our products can be important.”
The website continues to be popular — it garners 1 million visits a month, Fast Company notes.
Jain and Yacobovsky told Fast Company they believe one reason the company has become so successful is that they work so well together.
“We just have a really natural fit. We know how the other one works. We have really complementary skill sets, which really, really helps,” Yacobovsky said to Fast Company.
“Both of those combined, I think, are a really good mix of skill sets but also a very natural division of labour, which has been lovely,” Jain said to Fast Company, “We joke that the things I like to do D [Daniella] runs away from, and vice versa.”
Yacobovsky runs the creative components to the business, Fast Company reports, and Jain focuses on the nitty-gritty business operations..
Fast Company reports that BaubleBar releases new products with incredible speed; speed is a core tenet of fast fashion. In fact, BaubleBar releases 50 to 70 new designs every week, according to Fast Company.
It’s no secret that the fast fashion model is a boon to businesses.
Fast fashion retailers like Zara and H&M are currently on top in the retail scene, making more traditional retailers scramble. By incorporating speed into its supply chain, BaubleBar is able to give women what they want when they want it.
“We’ve kind of built a ‘fashion fashion’ take on the category. When there are new trends, we want women thinking of BaubleBar. And when she comes to us, we will have it,” Jain said to TechCrunch last year.
BaubleBar’s co-founders are obsessed with finding out exactly what jewellery trends women are craving. They take finding out jewellery trends to the next level.
“We constantly iterate on this process so that we are faster and smarter and making sure we’re exactly what the customer is looking for through her screen,” Jain explained to Fast Company. “We can mine the data down to geographies, age groups, colour selects, metals, things like that, to understand what’s really resonating with the customer — what she’s sharing with her friends, what she’s transacting on, and what she has no interest in. We’ve figured out a formula to blend those two data sets to predict what we should be talking about two to three months out from a brand perspective.”
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