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Charles & Colvard Moissanite Sales Improve
Aug 8, 2016 5:29 AM
By Rapaport News
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RAPAPORT... Charles & Colvard reported second quarter revenue rose and its
loss narrowed due to improved sales of its Forever One moissanite brand.
Sales increased 5.6 percent to $6.5 million in the three months
that ended June 30, while the loss was reduced to $987,964 from $4 million a year
ago, said the company, which creates moissanite, a diamond substitute.
Revenue from loose jewels surged 32 percent, offsetting a 35-percent
slide in finished-jewelry. Sales from the company’s ecommerce business,
Moissanite.com, dropped 8.4 percent partly due to a lack of deep discounts
in the period under review this year relative to 2015.
Sales improved as the company is “expanding” the availability
of its first colorless moissanite gem, Forever One, said Suzanne Miglucci,
Charles & Colvard’s president and chief executive. It is also targeting
high-end jewelry sales, widening its jewelry line through its “ecommerce site
and third-party marketplaces, and growing traditional channel partnerships with
wholesalers and retailers,” the CEO said.
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Tags:
Charles & Colvard, diamond substitute, Forever One, moissanite, Moissanite.com, Rapaport News, retail, Suzanne Miglucci
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