E-commerce jewelry business BaubleBar
has raised $10 million in Series B funding, in a round led by Burch
Creative Capital, the investment firm headed by billionaire retail and
fashion veteran Chris Burch, known for co-founding his ex-wife’s fashion
label, Tory Burch. Other participants in the round include Aspect
Ventures, Triplepoint Ventures, Comcast Ventures, and existing investors
Accel Partners and Greycroft Partners.BaubleBar was co-founded by Amy Jain and Daniella Yacobovsky, longtime friends (and former shopping buddies) whose backgrounds were in banking and private equity. They came up with the idea for the business after realizing that they never stopped to buy jewelry from the retailers they visited on their many shopping trips, despite being the target demographic.
At
Harvard Business School, the two began to research their idea further,
and found that women shopping for jewelry were brand agnostic, and just
wanted something of quality with some style that didn’t “break the
bank.” Retailers were under-serving this demographic, marking up jewelry
with high margins and not turning over the selection quick enough to
stay on trend.With Baublebar.com, the company caters to female shoppers looking to brighten their wardrobes. But what makes the business different from traditional competitors – or even many competing e-commerce businesses – is how quickly it can move. According to co-founder Jain, BaubleBar’s “very compressed” supply chain can see jewelry going from design process to being available for sale in as little as 4 weeks.
This allows BaubleBar to not only have the latest trends, but also react quickly when things become popular.
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