Laguna Beach-based jewelry brand Gorjana is trying fine jewelry on for size.
The company, since its 2004 start, has made a name for itself selling dainty, delicate, affordable rings, necklaces and bracelets good for layering. Longtime purchasers of the brand—whose annual sales were approaching $100 million as of last year—had been asking for something more.
The result is a new market segment for Gorjana, one that pushes it into higher price points and could potentially expand its customer base.
The idea, said CEO and co-founder Jason Reidel, was to launch a fine jewelry collection that went well with any of the brand’s existing pieces.
“We started developing the idea over two years ago, so it’s been in the works for a while,” he said. “The collection was originally going to launch in April, but we decided to delay due to COVID. With our retail stores back open and summer appearing to be extended indefinitely, we felt now was a great time to release the collection.”
August Debut
The brand’s fine jewelry line debuts Aug. 21 with 26 pieces, bearing materials such as diamonds, opals, 14k and 18k gold. The collection is priced from $80 for a 14k gold moonstone stud to $765 for an 18k necklace of three floating diamonds.
By comparison, the company’s top-selling Parker necklace from its existing line, which is 18k gold-plated brass, retails for $65.
Plans call for additions to the fine assortment for holiday and other seasons, but new items will not be released as often as Gorjana’s regular collections.
Reidel said there is potential to pull in new customers to the brand with this launch, but the assortment ultimately was about catering to the existing consumer base.
“We really didn’t set expectations about how big or small the fine jewelry collection will be,” he said. “We want it to be organic and, ultimately, our loyal customers will drive that narrative. What matters most to us is that the collection authentically represents our brand, which is why we call it ‘California Fine.’”
E-Commerce Pop
Despite the wrench the pandemic threw at business plans, Gorjana is still on track to meet revenue projections for this year, according to Reidel. The driver of that business, however, is different from what had originally been planned.
“With our 16 stores being closed for two to three months and having to delay opening our 17th and 18th stores from spring to fall, that changed the landscape of retail, and wholesale has shifted with us working with less partners and adopting a quality over quantity strategy,” he said. “Thankfully, our e-commerce business has exceeded expectations to keep us on track as a whole.”
In fact, e-commerce in May surged 300% year-over-year, and sales between April and May were up 400% as the company pumped all of its focus into the web when wholesale orders for spring and summer took a nosedive as a result of the pandemic.
New versions and charms for the company’s Parker necklace helped drive the sales jump as did flexibility in offering services such as buy-online, pickup in store and styling help.
