Jewelry Dot-Bombs

They said it wouldn't last—and they were right. It was a little over a year-and-a-half ago that a parade of well-funded, high-profile jewelry Web sites burst onto the scene, hoping to duplicate the popularity of e-commerce sites like Amazon.com. They raised millions of dollars and attracted the best and brightest in the industry. With their low prices and hefty marketing budgets, many wondered how traditional retailers could compete with them.In the end, traditional retailers proved more resilient than anyone imagined. Investors soon pulled the plug on most of the sites—including Miadora, Adornis, Ijewelry, and Canada's Denmans—and even the sites that survived are beset with financial woes. (See sidebar, p. 94.)Despite the reversals, the people behind these sites are proud of what they accomplished. They worked long hours, created brands from scratch, and proved there's a market fo
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