Annual international sales rise 152% for Blue Nile
Online jeweler Blue Nile Inc. is quickly increasing its international book of business.
In 2006, international sales totaled $8.3 million vs. $3.3 million in 2005, an increase of 151.5%. Overall Blue Nile’s international sales from web sites in Canada and the United Kingdom amounted to 3% of total sales of $251.6 million. “We intend to selectively pursue opportunities in international markets in which we can leverage our existing infrastructure and compelling value proposition,” the company says in its recently filed annual report.
Blue Nile expanded its foreign e-commerce initiatives with the launch of a web store in the United Kingdom in 2004. In January 2005 Blue Nile opened another international e-commerce site in Canada. In the United Kingdom, the Blue Nile site provides shoppers with tools to search, review and compare more than 60,000 diamonds according to cut, clarity, color, carat weight and price.
In Q4 Blue Nile posted international sales of $2.9 million, an increase of 67% from Q4 2005. “Growth in this part of our business will increasingly become a priority for us in 2007,” Mark Vadon, Blue Nile CEO, told Wall St. analysts on the company’s recent year-end earnings call. Blue Nile is No. 52 in the Internet Retailer Top 500 Guide.
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