In a challenging business environment including coronavirus impacts, at least four jewelry companies made the Inc. 5000 list, a ranking of the fastest-growing independent small businesses in the United States.
The 2021 list, which came out in August, ranks companies according to percentage revenue growth from 2017 to 2020. Jewelry retailers and brands included on the list are:
No. 134: Jocalio Group, which leverages the power of data, marketing and technology to empower independent jewelers.
No. 370: Kitsch, which sells hair accessories from fashionable shower caps to minimal metal hair clips.
No. 388: Manly Bands, the largest e-commerce brand for unique men’s wedding rings.
No. 3762: ShopWorn, a retailer of unused luxury products that obtains items directly from authorized brands.
Founded in 2017, Jocalio combines data-driven manufacturing and consumer marketing for independent jewelry retailers to supply both exceptional fine jewelry and creative marketing solutions based on in-depth data. Jocalio recorded a 3,159% growth rate over the past three years, says Val Katayev, CEO and cofounder of the New York-based company.
“The way we integrate into stores allows us to learn about them…where we can see a journey of a customer from beginning to end,” Katayev says. “What we do is through targeting methodologies, we capture their attention online and hand-hold them into the door. From there, we can track what they do: Do they make a purchase? That creates a circle of data, which allows us to find more customers like that.”
Katayev says Jocalio’s clients typically see an annual sales increase ranging from 20% to 100% after partnering with his company, one that he hopes helps independent jewelers level up like larger businesses with the same tools and resources.
“The beauty of this business is the feeling I get form helping everyday families,” Katayev says. “It’s a special feeling when you’re able to support [a family-owned or generational business] on Main Street as opposed to big corporations.”
Manly Bands cofounders and co-CEOs Michelle Luchese and Johnathan Ruggiero established the Utah-based company in 2016 to provide more options for men’s bands, including unique styles and affordable prices.
“To have made No. 388…is a huge milestone for our company, a major personal accomplishment and validates our early belief in the untapped potential for the men’s wedding ring industry,” Ruggiero says.
“We accelerated our growth with several key strategies, particularly our investment in our digital marketing technology platforms, outstanding creative team and development of exclusive licensed partners such as Jack Daniel’s Whiskey with many more to come,” Ruggiero says. “Our expertise in these areas, as well as having the smartest and most award-winning DTC team in e-commerce, has helped us to become the most popular brand in men’s wedding rings.”
The Inc. 5000 has highlighted many now household names on its list, including Microsoft, Dell, Domino’s Pizza, Intuit, Patagonia, Zillow, and Oracle. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of Dec. 31, 2020. The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” Scott Omelianuk, editor-in-chief of Inc., said in a statement. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at the Inc. magazine website.
Top: The T-Rex, Triceratops, Intimidator, and Jurassic rings, $1,324–$2,964; Manly BandsFollow JCK on Instagram: @jckmagazine
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