Charles & Colvard Launches Four New Amazon Marketplaces in Europe
RESEARCH TRIANGLE PARK, N.C., Oct. 04, 2018 (GLOBE NEWSWIRE) -- Charles & Colvard, Ltd. (Nasdaq: CTHR), the original and leading worldwide source of created moissanite, today announced the availability of Charles & Colvard moissanite jewelry on Amazon marketplaces in key European countries, including Spain, Italy, France and Germany. The launch of these four marketplaces -- in addition to the existing assortment available in the United Kingdom -- is part of the Company’s strategic initiative to target the global market opportunity through focused channel expansion and continued brand building.
“It is an incredibly exciting time to be a part of our industry as the global online fine & fashion jewelry market is expected to be in the range of $75 billion by 20201,” said Charles & Colvard President and CEO, Suzanne Miglucci. “We are combining our understanding of buying habits and consumers in Europe with the lessons learned from our success selling through marketplaces in the United States. We believe marketplaces are an agile, low-cost approach to entering and testing new market opportunities for Charles & Colvard moissanite jewelry around the world.”
This European marketplace expansion builds on the Company’s success in driving online sales growth. In Fiscal Q2 2018, Charles & Colvard net sales from marketplaces increased 182%, led by 225% growth through Amazon, over the year-ago quarter. E-commerce sales in Europe are expected to grow 13% in 2018 to nearly $700 billion (602 billion euros) 2.
“We are executing a global growth strategy that’s flexible, scalable and requires minimal capital investment by accessing key international online marketplaces and driving cross-border sales on our website,” Ms. Miglucci concluded. “We’re thrilled to offer Charles & Colvard moissanite jewelry pieces to Amazon shoppers in Spain, Italy, France, Germany and the UK just in time for the upcoming holiday season.”
About Charles & Colvard, Ltd.Charles & Colvard (Nasdaq: CTHR) believes luxury can be beautiful and conscientious. As an e-commerce-driven business, the Company uses innovative technology and sustainable practices to lead a revolution in the jewelry industry. As the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide, Charles & Colvard delivers a brilliant product at a revolutionary value that meets the needs of today’s discerning customer. Jewelry consumers seek Charles & Colvard products because of their exceptional quality as well as their environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in the Research Triangle Park, North Carolina. For more information, please visit www.charlesandcolvard.com.
1 https://www.eurocommerce.eu/media/159952/2018.07.02%20-%20Ecommerce%20report_annex.pdfhttps://www.forbes.com/sites/deborahweinswig/2016/04/14/as-fine-jewelry-moves-online-the-market-sparkles/ 2 https://www.mckinsey.com/industries/retail/our-insights/a-multifaceted-future-the-jewelry-industry-in-2020
Media Contact:Brittany KotaryCharles & Colvard919-468-0399