MORRISVILLE – Charles & Colvard, Ltd. is taking advantage of four new Amazon marketplaces in Europe.
The moissanite jewelry will now be available in major European countries, including Spain, Italy, France and Germany.
Amazon marketplace is an e-commerce platform, owned by Amazon, that enables companies to market their products at a fixed-price online marketplace. This allows companies to gain access to Amazon’s customer base, and allows Amazon to expand its offerings.
Charles & Colvard
Charles & Colvard is using this opportunity to continue building its brand while expanding globally.
“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,” said CEO Suzanne Miglucci in a statement. “We believe marketplaces are an agile, low-cost approach to entering and testing new market opportunities for Charles & Colvard moissanite jewelry around the world.”
Miglucci has been working as CEO with Charles & Colvard for almost three years. Previously she served as a director with the company.
Utilizing the marketplaces will complement the company’s existing success in online sales.
In their fiscal second quarter of 2018, Charles & Colvard net sales from marketplaces increased 182 percent, led by 225 percent growth through Amazon, over the year ago quarter.
These new marketplaces is expected to grow e-commerce sales in Europe 13 percent in 2018 to nearly $700 billion.
“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,” said Miglucci.
Morrisville-based Charles & Colvard is a creator and distributor of moissanite jewelry, a cost-effective option for imitation diamonds.
Its stock price was trading at 91 cents, up 1 cent, in Thursday midday trading.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
