Adornis.com

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Adornis.com was an online jewelry retailer created during the 90's dot-com boom that later collapsed.

Contents

Adornis.com
Formation1999 [1]
TypeOnline jewelry retailer
HeadquartersIreland: Moyne Park, Tuam, County Galway, Ireland [2] [3] [4]
USA: Suite 265, 411 West Putnam Avenue, Greenwich, Connecticut 06830, USA [5] [6]
Location
Official language
English
Founder
 Declan Ganley [7] [1]
Key people
Sean Ganley, Jeanne Daniels, [8] Roy Albers, [8] Marion Davidson [9]
Website www.adornis.com

Origin

Adornis.com, Inc. [5] [6] was an online jewelry retailer [7] launched by Irish entrepreneur Declan Ganley [7] [1] with co-founder Sean Ganley, brother of Declan, in 1999, [1] part of the dot-com boom [1] of the 90's. The company was funded through Ganley's private equity firm, the Ganley Group, [2] with $30m in equity funding, $30m in debt financing and a personal investment by Ganley of $5.5m. [8] The French investments firm Richemont Investments SA, [10] (a division [10] of Compagnie Financiere Richemont AG [2] [8] ) paid approx $5m [10] to own 20% [7] [10] and the Irish internet firm Nua Internet Services [8] owned 10%. [7] Ganley owned around 40%, [2] with the remainder owned by three American hedge funds. [2] Adornis.com was a winner of Forbes magazine's 'Best of the Web' "Classic, contemporary and estate jewelry from less than $100 to more than $10,000. Browse or search by designer, product type, type of material and gemstone or price....Excellent product descriptions and multiple close-up views". Time magazine described Adornis.com as 'bauble central for luxury items' in Dec 1999.

Fate

It was valued at $25 million at one point [7] but collapsed and its stock was sold off to Overstock.com [7] for about $2m. [7] The remains were converted to Adornis.com Limited, [3] founded on 7 September 2001. [3] That company's latest annual return was filed on 31 December 2005. [3]

References

  1. 1 2 3 4 5 "Interview: Daire O'Brien: Prepared to take the broadband picture" The Sunday Times, January 25, 2004
  2. 1 2 3 4 5 "Ganley denies Adornis has lost all its sparkle" Archived August 22, 2008, at the Wayback Machine Sunday Business Post, Sunday, November 12, 2000
  3. 1 2 3 4 Details for ADORNIS.COM LIMITED, company number E0347616 [ permanent dead link ] at UKData.com Archived 2009-02-20 at the Wayback Machine
  4. ↑ "CableBulgaria:Directors". Archived from the original on March 1, 2001. Retrieved 2017-04-05.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  5. 1 2 Adornis.com, Inc. Archived 2011-10-06 at the Wayback Machine at www.list-company.com
  6. 1 2 Adornis.com, Inc. Archived 2008-04-20 at the Wayback Machine at www.jigsaw.com Archived 2009-03-10 at the Wayback Machine
  7. 1 2 3 4 5 6 7 8 "Selling the Ganley jewels", Irish Independent, Sunday November 19 2000
  8. 1 2 3 4 5 "Off-line Adornis lays off top staff" Archived 2013-02-21 at archive.today 8 November 2000, by Paul Drury, from www.electricnews.net Archived 2011-05-26 at the Portuguese Web Archive
  9. ↑ "The Aesthetics of Luxury" Archived 2008-12-04 at the Wayback Machine , a moderated panel discussion on 13 July 2006 Archived 10 February 2010 at the Wayback Machine , accessed via luxurycouncil.com
  10. 1 2 3 4 "Richemont Investments SA acquires a minority stake in Adornis.Com", Thomson Financial Mergers & Acquisitions, Dec 16, 1999, accessed via www.alacrastore.com
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