Dive Brief:
- Direct-to-consumer jewelry brand Mejuri launched a new app and loyalty program — dubbed Mejuri+ — on Thursday, according to details emailed to Retail Dive.
- The free membership program offers access to exclusive product drops, priority sale access, free shipping every Monday, a birthday gift and more.
- Additionally, the brand plans to open five new brick-and-mortar stores by the end of the year, with locations in London; Miami; Nashville, Tennessee; its second store in San Francisco; and its third in Los Angeles. The company’s total store count will then reach 29.
Dive Insight:
Founded in 2015, Mejuri has grown to have over 560 employees and over 2 million customers.
The company — which has raised over $100 million since its inception — said over 50% of its revenue comes from repeat customers and 25% of those repeat customers return to buy in that same year.
Mejuri — which was co-founded by CEO Noura Sakkijha and Majed Masad — previously raised $5 million in a Series A funding round in 2018 that was led by Felix Capital. The next year, the jewelry brand raised $23 million in a Series B round with participation from New Enterprise Associates, per reporting from TechCrunch.
While Mejuri has remained direct to consumer, some newer jewelry brands have expanded into wholesale.
Aurate in August announced partnerships with Macy’s and Helzberg Diamonds to offer exclusive collections, with pricing unique to the retailers. The move came after the digitally native brand closed down its own retail stores, as wholesale deals offered the brand a more cost-efficient way to reach customers in person.
