Section 6 (3 pm), Group 9
MI021 Computers in Management, Fall 2007
Group Members:
Heidi Francis
Ally Giansanti
Matt Gibbons
Andrew Jeong
Michael Sickler
It all started bandaging in 1998 when Mark Vadon, the current CEO of Blue Nile, was snubbed at a Tiffanys in San Francisco while looking for an escort ring. Vadon decided to try his luck online instead of dealing with this thwarting and ended up buying a ring from mesh regulate Diamonds. The next year he visited the firms lone(prenominal) store in Seattle and bought the company for an undisclosed amount. The rest is history.
Today, Vadons startup, Blue Nile, has become the largest online retailer of certified diamonds, accounting for triad of all jewelry sales over the net profit. Overall sales at the firm have risen at a rate of 30 percent per year. Since 2005, earnings have increase by 32 percent. While the numbers are impressive, that is not the only thing that Blue Nile is concerned about. The customer centrical company consists of 159 employees who work through the firms main(prenominal) website, bluenile.com. Blue Nile offers high quality diamonds, certified by unaffiliated diamond grading labs, and lets the customer create their own work of art in selecting a diamond.
The companys success has led it to be declared one of the top internet firms amid recognition from such publications as Forbes and BusinessWeek.
As an online retailer of diamonds and ok jewelry, Blue Nile provides excellent guidance and support to enable customers to view about and purchase diamonds as well as classically styled fine jewelry. The company has a current market harbor of approximately $2 billion while the firm continues to grow. Blue Nile typically trades at about $100 a handle after an initial public stock offering of $25 back in May of 2004i. The company has drastically increase its trading price the past year amid higher profits and a larger market share, which bodes well for the future....If you want to realize a full essay, order it on our website: Ordercustompaper.com
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