In the latest consolidation moves of similar Web ventures, Miadora, the online luxury jewelry site, today announced the acquisition of Jewelry.com. Terms of the purchase were not disclosed.
The combined company will appeal to two distinct segments of Internet consumers. Jewelry.com will continue to operate as a separate brand in the moderate-price category, while Miadora continues to operate in the luxury market.
"Through sourcing synergies and leveraged backend functions, both Miadora and Jewelry.com can better compete in our respective markets," says Barry Gilbert, president and CEO of Miadora. "This strategy is very similar to that of other multi-brand retailers such as Gap Inc."
Jewelry.com, which launched last year, will continue to operate as a separate division based in Southern California.
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