New majority investor Ross-Simons Inc. is excited by the brand’s potential to be the next great omnichannel jewelry brand
CRANSTON, R.I., Sept. 16, 2019 /PRNewswire/ — Luca + Danni, Inc, the Rhode Island-based jewelry brand, today announced the closing of a $6.2 million funding round of growth capital. Ross-Simons Inc., America’s favorite jeweler, became the majority investor in the deal. PJC, a Boston-based VC Fund and early investor in Luca + Danni will retain a stake in the company. The investments create a powerful partnership between an iconic jewelry company and three-year-old digital brand. Ross-Simons and PJC believe strongly in Luca + Danni’s disruptive model and purpose driven brand. Fred Magnanimi, Founder of Luca + Danni, will remain as CEO and Board Member.
“I started this brand to honor my family’s 50+ year heritage in US made handcrafted jewelry and help others embrace the journey of life as I learned to do after losing my brother to Leukemia,” said Magnanimi. “With the amazing resources and strategic support of Ross-Simons and PJC, I am confident we will help millions embrace their own journey and continue to build our community.”
Ross-Simons, also based in Rhode Island, has a rich history in retail and direct-to-consumer sales of high-quality jewelry at incredible values. Their 65+ years of experience will further drive Luca + Danni’s growth plan over the next few years. Ross-Simons was drawn to the brand’s meaningful purpose, explosive growth and American craftsmanship.
“Luca + Danni is a digitally native brand rapidly taking market share in the jewelry space. Our resources, product expertise, and go-to-market experience matched with Luca + Danni’s powerful brand will foster meaningful growth in the evolving e-commerce world,” said Jim Speltz, President of Ross-Simons, Inc.
“This strategic partnership leverages the complementary core values and synergies between two great consumer brands, positioning Luca + Danni to truly disrupt the direct-to-consumer market,” added David Martirano, Managing Partner of PJC.
The investment comes as Luca + Danni prepares for continued rapid growth this holiday season. With the belief that life is a journey meant to be embraced, each piece of handcrafted Luca + Danni jewelry is designed to reflect the moments in life that matter most. As a result of this latest round of strategic investment, Luca + Danni is set to be the must have holiday gift this year.
About Luca + Danni
Luca + Danni is an American made jewelry brand that was founded on the belief that we should all celebrate our own personal journey. Designed with intent, our iconic stacking bracelets are shaped to sit on the top of your wrist so you can express the things that matter most to you. Our founder, Fred Magnanimi, lost his younger brother to cancer. After that experience, Fred returned to his roots in his families 60+ year old jewelry manufacturing business and launched Luca + Danni to honor his brother’s memory. Sharing his “embrace the journey” spirit, we continue his family tradition of handcrafting empowering and effortless jewelry that is proudly Born in the USA. For more information about Luca + Danni, please visit www.lucadanni.com
Luca + Danni’s jewelry brand that allows patrons to express their personal journey is excitingly looking forward to the holiday season with the latest funding. Your jewelry brand can also offer personalized jewelry to your customers to make their personality statement. Get ready to disrupt the market with custom-created jewelry designs this upcoming holiday season with iDesigniBuy Jewelry Design Software.