Posted on March 13, 2007
How big can Blue Nile [2] get? At an investment conference today [3], Blue Nile CEO Mark Vadon told investors he thinks that, if trends continue, his company will eventually sell one billion — that's right one billion — dollars worth of jewelry domestically. Granted, this was an investment conference, and "eventually" can be a long time, but the number's not completely far-fetched, considering Blue Nile now sells about $250 million a year [4] (and is only eight years old) with sales rising over 20% each year. As a point of comparison, Tiffany for the 2005 fiscal year sold $1.2 billion in the United States [5].
By the way, I am writing an article on Blue Nile, and am wondering if anyone has any info as to who their second largest Internet competitor is. Ice.com? Amazon? Does ebay count?
Links:
[1] http://www.jckonline.com/blog/Cutting_Remarks/16188-Blue_Nile_Billion_Dollar_Babies_.php#disqus_thread
[2] http://www.bluenile.com/
[3] http://investor.bluenile.com/phoenix.zhtml?p=irol-eventDetails&c=177247&eventID=1495871
[4] http://www.bluenile.com/pressreleases/02_12_2007.asp
[5] http://www.shareholder.com/tiffany/releasedetail.cfm?ReleaseID=191446
[6] http://jckonline.disqus.com/?url=http%3A%2F%2Fwww.jckonline.com%2Fnode%2F764