Jewelry brand Mejuri introduces customer loyalty program in line with plans for store expansion
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Curious news, eh? The trendy, online jewelry brand, Mejuri, stepped up its game with the launch of a snazzy new app and loyalty program - named Mejuri+ - on Thursday, as per an email to Retail Dive.
Now, what's this program all about? It's a free membership that grants you access to exclusive product drops, priority sale access, free shipping every Monday, a birthday gift and more. Sounds like a sweet deal, doesn't it?
Looks like Mejuri has some exciting offline plans too. They are planning to open five physical stores by the year's end, in places like London, Miami, Nashville, San Francisco (second store), and Los Angeles (third store). With these additions, their total store count will swell to 29.
Established in 2015, Mejuri has come a long way, baby. Now, they boast an impressive workforce of over 560 employees and over 2 million customers. Interestingly, they credit over 50% of their revenue to repeat customers, with 25% of those buying again within the same year.
You might have heard of their Series A and Series B funding rounds, but the details can be a bit tricky to find. The company surely has raised more than $100 million since its start, and it's caught the eye of industry heavyweights like Vanessa Larco, previously of NEA. However, the specifics of their funding history may require a deeper dive into financial databases.
While Mejuri has kept things digital until now, there are new jewelry brands popping up that are expanding into wholesale. Take Aurate, for instance, which partnered with Macy's and Helzberg Diamonds to offer exclusive collections earlier this year. This move came after Aurate shut down its own retail stores, indicating that wholesale deals can help reach customers in a more cost-efficient manner.
- TechCrunch reported a brief on the brief of Mejuri+'s launch, a new loyalty program for the AI-powered retailer.
- Mejuri's Mejuri+ offers access to exclusive product drops, priority sale access, free shipping every Monday, a birthday gift, and more to its retail customers.
- In the retail industry, Mejuri has a strong focus on technology and finance, boasting an impressive workforce of over 560 employees and over 2 million customers who contribute to 50% of their revenue, with 25% repeat purchases within the same year.
- Since its inception in 2015, the online jewelry brand has raised more than $100 million in funding, attracting industry leaders like Vanessa Larco of NEA, but the specifics of their funding history might require a deeper investigation into financial databases.
- As the technology-focused jewelry retail business continues to grow, brands like Aurate are moving into wholesale partnerships to reach a wider customer base at a lower cost, evident in their collaborations with Macy's and Helzberg Diamonds earlier this year, following the closure of their own retail stores.
