Adina's Jewels has risen to a niche status through endorsements from celebrities like Cardi B and Billie Eilish, as well as amassing nearly 350,000 followers on Instagram alone. 2017 was a great year for Adina's Jewels, as only two years from the business's launch it had acquired $1 million in sales. According to a report from CNN, the business is a multi-million dollar venture. In a bold new step, the company is now moving into wholesale department stores in a search for a wider reach of shoppers.
The brother and sister team of Mayer and Adina Kamkhatchi have more plans for growth in the new year. A lot of exclusively online brands have been opening their own storefronts for retail, as well as venturing into wholesale.
Adina's Jewels had begun a wholesale partnership with Neiman Marcus in late December. The confidence in their most recent effort was bolstered after a successful deal with Nordstrom back in August of 2019. Neiman Marcus now carries 70 online pieces from Adina's Jewels, primarily 14-karat and diamond jewelry products.
“We have such a strong social media following, and that leads to a strong online presence on our own e-commerce platform,” said Mayer Kamkhatchi referring to the company's close scrutiny of sales figures, demographics and more. “We have a lot of data. We know what sells, how much of a certain style will sell and what customers it will sell well with.”
The switch to wholesale can have a beneficial effect on burgeoning new companies, including a wider reach to new customers. However, Beth Goldstein of NPD group has talked of the various challenges that new businesses may face.
According to Goldstein, “The main challenge is the limited number of potential wholesale partners and an even more limited number of those with which a DTC brand would want to partner. The market is crowded and standing out is a challenge. This is why it is important to always be telling the brand’s story, which is hard in a wholesale environment.” With new challenges on the horizon, Adina's Jewels looks towards a bright future.
Information originally sourced from Glossy.