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Charles & Colvard Moissanite Sales Improve

Aug 8, 2016 5:29 AM   By Rapaport News
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RAPAPORT... Charles & Colvard reported second quarter revenue rose and its loss narrowed due to improved sales of its Forever One moissanite brand.

Sales increased 5.6 percent to $6.5 million in the three months that ended June 30, while the loss was reduced to $987,964 from $4 million a year ago, said the company, which creates moissanite, a diamond substitute.

Revenue from loose jewels surged 32 percent, offsetting a 35-percent slide in finished-jewelry. Sales from the company’s ecommerce business, Moissanite.com, dropped 8.4 percent partly due to a lack of deep discounts in the period under review this year relative to 2015.

Sales improved as the company is “expanding” the availability of its first colorless moissanite gem, Forever One, said Suzanne Miglucci, Charles & Colvard’s president and chief executive. It is also targeting high-end jewelry sales, widening its jewelry line through its “ecommerce site and third-party marketplaces, and growing traditional channel partnerships with wholesalers and retailers,” the CEO said.
Tags: Charles & Colvard, diamond substitute, Forever One, moissanite, Moissanite.com, Rapaport News, retail, Suzanne Miglucci
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