Summary List Placement
Mejuri is a Canadian jewelry startup that makes affordable, fine jewelry meant to be worn every day.
Bucking the idea that “nice” jewelry is for special occasions and gifts, 90% of its customers are purchasing jewelry for themselves.
The lean D2C model makes it possible to order a 14K gold diamond necklace for $300, and the company ensures the use of ethically sourced materials.
Mejuri jewelry is a recurring purchase for Insider Reviews reporters. Keep reading to learn why we love it, plus the pieces we wear every day.
If you’re looking for dainty, everyday jewelry that’s nice enough to stand the test of time and affordable enough to buy for yourself, then you’ll probably want Mejuri on your radar.
It’s an online jewelry startup based on the idea that women want to buy fine jewelry for themselves, and without waiting for an excuse or occasion to do so. Looking at the numbers, it’s clear that founders Noura Sakkijha and Justine Lançon are on to something.
Mejuri has seen five times year-over-year revenue growth, product waitlists of 100,000 people, a $23 million Series B funding round, and — most unusual for an industry steeped in milestones and big gesture gifts — data that shows that more than 90% of its customers are purchasing the jewelry for themselves. Its core customer base (women aged 18 to 35) also has a monthly repeat purchase rate of over 25%, suggesting its customers are over the practice of saving “nice” jewelry for special occasions and instead regularly choose to “buy [themselves] the damn diamonds.”
If you take a look through Mejuri’s site, it’s easy to see that success and customer retention were inevitable, rather than a stroke of luck. The crowded jewelry industry is made up of two oversaturated markets — very expensive jewelry, and affordable, short-lived costume jewelry — and an ocean in between. Mejuri is one of few islands in the middle. (AUrate and Stone and Strand are others, though Mejuri is, for the most part, more budget-friendly.)
For starters, Mejuri prices are remarkably affordable relative to the rest of the industry (similar to Everlane’s transparent pricing model, there’s an estimated retail markup on every product page). You can buy a diamond, 14-karat gold necklace for $300 — not exactly pocket change, but accessible for a millennial woman with some expendable income.
And, Mejuri jewelry isn’t trendy. Lançon told Business Insider in 2018, “We design products we, our friends, and our community would actually wear. It’s not just something you put on your Pinterest board for ‘someday.'”
Source:: Business Insider