Entertainment

Blue Nile CEO Jason Goldberger departs, third exec to leave online jeweler since acquisition in 2017

Jason Goldberger is out at Blue Nile.

Goldberger has left his put up as CEO of the Seattle-based online jeweler, a year-and-a-half after he joined the corporate from Goal, GeekWire has realized.

Eric Anderson, govt vice chairman at Bain Capital Non-public Fairness, is filling in as interim CEO. Bain Capital was one in all three corporations that acquired Blue Nile in 2017.

Right here’s a press release from Blue Nile:

“Eric Anderson has assumed the function of Interim CEO whereas we conduct a seek for the successor to Jason Goldberger, who has moved on to pursue his subsequent problem. We’re persevering with to make investments behind our strategic priorities and new capabilities to speed up development.”

Goldberger declined to remark when contacted by GeekWire.

Earlier than heading up Blue Nile, Goldberger led Goal’s e-commerce efforts for practically 4 years. He beforehand was an govt at Gilt.com, Hayneedle, and Amazon, the place he spent greater than seven years on the Seattle-based tech big. At Blue Nile, Goldberger changed Harvey Kanter, who stays chairman.

Blue Nile, which went public in 2004, sold to a group of private equity firms — Bain Capital; Bow Road; Adama Companions — for $500 million in February 2017. The corporate stored its Seattle headquarters and have become a privately-held firm.

Since then, Blue Nile introduced on three executives — Goldberger; Ruth Sommers, chief working officer; and Erin Daley, chief advertising officer — who’re now not with the corporate.

Chief Product Officer Dave Fleischman, who joined in September 2017, and Chief Merchandising Officer Katie Zimmerman, who joined in March 2018, stay at Blue Nile.

Bill Koefoed, Blue Nile’s chief monetary officer who was additionally employed this previous March, told GeekWire in November that the corporate expects to go public once more.

Prior to its acquisition, Blue Nile was bringing in about $400 million in income per yr. Within the final yr it cleared $500 million in income. Koefoed stated Blue Nile overhauled its provide chain, slicing off a number of layers of middlemen and constructing tighter relationships with producers. This helped scale back provide prices and increase the corporate’s backside line.

The U.S. online jewellery and watch gross sales business has grown by 6.8 % over the previous 5 years and reached $8 billion in 2018, in accordance to IBISWorld. Blue Nile competes with corporations reminiscent of Amazon, Etsy, Signet Jewelers, James Allen, Ritani, and others.

Although Blue Nile is primarily targeted on e-commerce, it has six brick-and-mortar places in malls in Bellevue, Wash.; Portland; Tyson’s Nook, Va.; Salem N.H.; and White Plains and Backyard Metropolis, N.Y. These are showrooms for the merchandise Blue Nile sells online, giving prospects an opportunity to attempt them out earlier than buying digitally.

Entrepreneur and investor Mark Vadon based Blue Nile in 1999.

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