Blue Nile posts 37% increase in revenues

Blue Nile Inc., Seattle, Wash., an online retailer of diamonds and fine jewelry, said its revenues for the second quarter, ended June 30, increased 37% over the same period last year, with sales of $15 million for the quarter.

The performance enabled Blue Nile (www.bluenile.com) to achieve its third consecutive quarterly operating profit, and cemented its status as the largest online luxury retailer.

Blue Nile, in a release, said it attributes its growth to innovations that enhance consumers’ control of the shopping process, including a selection of 11,000 high-quality diamonds at prices 20 to 40% below traditional retail levels and in-depth product education that allow consumer to make purchases make purchases with confidence.

“Traditionally, consumers have not had access to comprehensive jewelry product information,” said CEO Mark Vadon. “Blue Nile gives consumers full disclosure on product and price, while offering a superior selection and the ability to use our Build Your Own features to create select jewelry pieces according to their wants and budgets.”

The Build Your Own functions have been so popular that the company plans to roll out additional customization features, Vadon said.