Charles & Colvard Ltd, the United States, has recently published its financial results for Q1 2015, saying it is “the strongest first quarter revenues in 10 years” with improvements shown in all business segments.
The company’s Q1 2015 sales increased 38 percent to US$8.4 million compared with US$6.1 million in the year-ago first quarter. The wholesale business revenue increased 15 percent to US$5.9 million. Accounting for 16 percent of total sales, the direct-to-consumer business Lulu Avenue increased 562 percent to US$1.4 million, compared with US$0.2 million or 3 percent of sales in Q1 2014. Another direct-to-consumer business Moissanite.com marked an increase of 56 percent to US$1.1 million, compared with US$0.7 million in Q1 2014. Finished jewellery sales were US$4.6 million for the quarter, compared with US$2.4 million in Q1 2014.
“We believe the growth in the direct-to-consumer businesses reflects the execution and implementation of strategies that are specifically designed to increase awareness and grow our business,” said Marvin Beasley, president and CEO of the company.
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