Adornis.com

Adornis.com

Adornis.com was an online jewelry retailer created during the 90's dot-com boom that later collapsed.

Quick Facts Formation, Type ...

Origin

Adornis.com, Inc.[5][6] was an online jewelry retailer[7] launched by Irish entrepreneur Declan Ganley[7][1] with co-founder Sean Ganley, brother of Declan, in 1999,[1] part of the dot-com boom[1] of the 90's. The company was funded through Ganley's private equity firm, the Ganley Group,[2] with $30m in equity funding, $30m in debt financing and a personal investment by Ganley of $5.5m.[8] The French investments firm Richemont Investments SA,[10] (a division[10] of Compagnie Financiere Richemont AG[2][8]) paid approx $5m[10] to own 20%[7][10] and the Irish internet firm Nua Internet Services[8] owned 10%.[7] Ganley owned around 40%,[2] with the remainder owned by three American hedge funds.[2] Adornis.com was a winner of Forbes magazine's 'Best of the Web' "Classic, contemporary and estate jewelry from less than $100 to more than $10,000. Browse or search by designer, product type, type of material and gemstone or price....Excellent product descriptions and multiple close-up views". Time magazine described Adornis.com as 'bauble central for luxury items' in Dec 1999.

Fate

It was valued at $25 million at one point[7] but collapsed and its stock was sold off to Overstock.com[7] for about $2m.[7] The remains were converted to Adornis.com Limited,[3] founded on 7 September 2001.[3] That company's latest annual return was filed on 31 December 2005.[3]


References

  1. "Ganley denies Adornis has lost all its sparkle" Archived August 22, 2008, at the Wayback Machine Sunday Business Post, Sunday, November 12, 2000
  2. "CableBulgaria:Directors". Archived from the original on March 1, 2001. Retrieved 2017-04-05.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  3. "Selling the Ganley jewels", Irish Independent, Sunday November 19 2000
  4. "Off-line Adornis lays off top staff" Archived 2013-02-21 at archive.today 8 November 2000, by Paul Drury, from www.electricnews.net Archived 2011-05-26 at the Portuguese Web Archive
  5. "Richemont Investments SA acquires a minority stake in Adornis.Com", Thomson Financial Mergers & Acquisitions, Dec 16, 1999, accessed via www.alacrastore.com

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