JewelPops Inc. was ranked as the fifth fastest-growing company in Canada on Profit magazine’s 2012 PROFIT 200 list.

The 27-employee Dartmouth, Nova Scotia–based company exhibited 7,156 percent revenue growth over the last year, the magazine said. In 2011, it generated 14.5 million Canadian dollars ($14.1 million) in revenue.

An article and profile of president and CEO Robert Smith noted the company began with $10,000 in sales in 2006. It called its eventual leap to over $14 million “one of the most spectacular five-year growth rates in the history of the PROFIT 200.”

It said that while the company’s success has been built on its Kameleon line, the company is now introducing a new line, GemDrops. It noted that the company diverged from standard industry practice by insisting that retailers pay up front.

JCK