24 Aug 2019
DiamondWorld Directory
Home |
News
Home
Jewellery startup AUrate raises $13M
AUrate, a startup selling gold jewellery directly to consumers has raised $13 million in Series A funding
By: Diamond World News Service
|
Jun 28 2019 3:05PM
|
Reference: 22331  

DecreaseIncrease

The company’s co-founders Bouchra Ezzahraoui and Sophie Kahn said that AUrate’s prices range from $50 to $3,000, but they’re really aiming for what Ezzahraoui called “this new market sweet spot” of $300 to $500. And while that’s not exactly cheap, she said customers are getting a piece of fine jewelry made from real gold, which would normally be priced at $1,200 or more.

The jewelry is produced by local partners in New York City, and the gold comes from sustainable sources. Kahn also said while fine jewelry has traditionally been created “by men for women,” she designs AUrate’s pieces, and she’s “always looking for a balance between bold and feminine, which represents our women.”

In addition to selling jewelry online, AUrate also operates two brick-and-mortar stores in New York, with a third under construction in Washington, D.C. And it introduced something called Curate, where the company will send up to five recommended pieces to customers, which they can try at home with no commitment.

Founded in 2015, AUrate says its online revenue has been growing consistently by 400 percent every year, while its brick-and-mortar retail business has been doubling. Also noteworthy: 40 percent of its customers return for additional purchases, and 90 percent of customers are women.

The new funding was led by Michael Platt’s Bluecrest Capital, with participation from Point King Capital, Arab Angel Fund and Drake Management.

 

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2019
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
Spotted: Who Wore What (August 2018)
Pictures: 4
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 16691
GJEPC Chairman Interview
Views: 15483
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 22351
Promo for IJ Awards 2012 at NDTV Profit
Views: 35200
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 38628
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 12872
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 36640
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 34589
Advertisement
Finestar Diamonds
Advertisement
Mohra India
Member of:
Supporter of: