Diamonds Factory is expanding its horizons by establishing a European hub in Ireland, reflecting a significant growth in sales and a strong market presence.
This move comes in the wake of a robust financial performance, with sales nearing the £40 million mark in 2022.
European Expansion
The decision to open a European hub stems from the substantial growth Diamonds Factory has witnessed in the Irish market. The expansion follows a significant turnover marking a promising trajectory for the diamond retailer.
To cater to the burgeoning demand, Diamonds Factory is not only opening a European Hub but also an Operation Office in Ireland. This strategic move aims to manage the surge in turnover effectively and meet the growing demand, showcasing the brand’s commitment to serving the Irish market efficiently.
Exponential Growth
The expansion narrative is backed by compelling numbers. Diamonds Factory’s rapid turnover growth from €100,000 to €1 million in Ireland showcases a remarkable financial upswing. This financial growth is further echoed in the digital realm where Diamonds Factory’s Irish website saw a 54% growth in organic traffic and an 86% growth in direct traffic over the past year.
Lab-Grown Diamond Sales
An interesting facet of Diamonds Factory’s market performance is the significant sale of lab-grown diamonds, which now constitute 55% of total sales in Ireland. This indicates a shifting consumer preference and a broadening market spectrum for Diamonds Factory.
On a global scale, Diamonds Factory is approaching a notable milestone with sales forecasted to be between £35 million and £40 million in 2022, underscoring the brand’s worldwide appeal and market strength.
