Blue Nile, an engagement ring and jewelry seller that recently opened its thirteenth showroom in King of Prussia, hopes to break $1 billion in revenue within the next two to five years as it transitions into more of a jewelry brand, writes Rob Bates for the JCK Online.

Sean Kell, CEO, said that the company is on track to hit $600 million this year and grew around 20 percent during the pandemic.

The average price point at the company also increased by 10 to 20 percent.

Blue Nile now plans to continue its retail rollout. After the King of Prussia showroom, it is going to open another store in Short Hills, N.J., and add four more by the end of 2021.

The company has already begun rolling out more fashion-oriented and differentiated products. Last week, it offered a collection of nongendered wedding bands and engagement rings in collaboration with designer Zac Posen.

The company is also focusing on foreign markets, especially China.

“The Chinese consumer base is very exciting and incredibly energetic,” said Kell. “They love jewelry.”

Read more about Blue Nile in the JCK Online.