Adornis.com was an online jewelry retailer created during the 90's dot-com boom that later collapsed.
| Adornis.com | |
| Formation: | 1999 |
| Type: | Online jewelry retailer |
| Headquarters: | Ireland: Moyne Park, Tuam, County Galway, Ireland[1] USA: Suite 265, 411 West Putnam Avenue, Greenwich, Connecticut 06830, USA |
| Location: | |
| Language: | English |
| Leader Title: | Founder |
| Leader Name: | Declan Ganley[2] |
| Key People: | Sean Ganley, Jeanne Daniels, Roy Albers, Marion Davidson[3] |
| Website: | www.adornis.com |
Adornis.com, Inc.[4] [5] was an online jewelry retailer[2] launched by Irish entrepreneur Declan Ganley[6] with co-founder Sean Ganley, brother of Declan, in 1999,[7] part of the dot-com boom[7] of the 90's. The company was funded through Ganley's private equity firm, the Ganley Group,[8] with $30m in equity funding, $30m in debt financing and a personal investment by Ganley of $5.5m.[9] The French investments firm Richemont Investments SA,[10] (a division[10] of Compagnie Financiere Richemont AG[8] [9]) paid approx $5m[10] to own 20%[2] [10] and the Irish internet firm Nua Internet Services[9] owned 10%.[2] Ganley owned around 40%,[8] with the remainder owned by three American hedge funds.[8] 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.
It was valued at $25 million at one point[2] but collapsed and its stock was sold off to Overstock.com[2] for about $2m.[2] The remains were converted to Adornis.com Limited,[11] founded on 7 September 2001.[11] That company's latest annual return was filed on 31 December 2005.[11]