Ritani

Ritani
Industry Jewelry
Founded 2011
Headquarters White Plains, New York
Website www.ritani.com

Ritani is a fine jewelry company specializing in engagement rings and bridal jewelry. Based in White Plains, New York, the company has e-commerce operations in Seattle, Washington.[1] Initially a wholesale jewelry brand, Ritani launched its transactional website in October 2012.[2] Customers are able to design a custom engagement ring online, then have the ring shipped to a nearby jewelry store to preview in person.[3] The combination of online and in-person shopping puts Ritani in competition with online jewelry retailers such as Blue Nile Inc. and James Allen, as well as traditional jewelers like Tiffany & Co. In 2012, chief investor Cantor Fitzgerald invested $15 million in Ritani, following the Julius Klein Group selling their stake in the company.[4] In January 2014, Ritani was selected for the Forbes list of America's Most Promising Companies[5] for their unique "clicks and bricks" model that blends online shopping and brick-and-mortar stores.[6] In June 2014, Ritani announced that former Blue Nile (company) CEO Diane Irvine had joined the company's board of directors.[7] Ritani's network of independent jewelry store partners has over 180 locations across the US and Canada.[8] The focus of "clicks and bricks" is to educate and guide the customer as they design their own ring,[9] and then establish trust and confidence with a free in-store preview.[10] Ritani has an inventory of over 60,000 diamonds ranging in price from $184 to $1.7 million.[11]

References

  1. ↑ Blue Nile rival combines ‘clicks and bricks', Martinez, Amy. The Seattle Times. Published October 11, 2012; retrieved April 9, 2014.
  2. ↑ Revamped Ritani marries online and in-store shopping, Sanders, Lorraine. Fast Company. Published October 12, 2012; retrieved April 9, 2014.
  3. ↑ Engagement ring designer Ritani sparkles with $15M, combines clicks with bricks, Cook, John. GeekWire. Published October 11, 2012; retrieved April 9, 2014.
  4. ↑ Julius Klein Sells Stake in Ritani as Brand Launches E-Commerce Site, Bates, Rob. JCK Online. Published October 11, 2012; retrieved April 9, 2014.
  5. ↑ America's Most Promising Companies List. Forbes. Published January 2014; retrieved May 16, 2014.
  6. ↑ Ritani on Forbes America's Most Promising Companies List. Forbes. Published January 2014; retrieved May 16, 2014.
  7. ↑ Tech Moves: Zillow CMO named to Avvo board; Blue Box bolsters team; Dendreon CEO out; Snap Skout’s new COO and more. GeekWire. Published June 10, 2014; retrieved June 16, 2014.
  8. ↑ Ritani Creates RFID Solution to Engage Shoppers, Increase Sales, Swedberg, Claire. "RFID Journal". Published June 3, 2014; retrieved June 4, 2014.
  9. ↑ This Month in Bespoke: Ritani. Markets Media. Published February 24, 2014; retrieved May 16, 2014.
  10. ↑ How is Ritani Disrupting Luxury Retail?. Bloomberg TV. Published February 14, 2014; retrieved May 16, 2014.
  11. ↑ Dealing diamonds online. Opening Bell with Maria Bartiromo. Published May 13, 2014; retrieved May 16, 2014.
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