Digital jewelry brand Luca + Danni gains $6.2 million in new funding round

By

Gabriella Lacombe

Published
Sep 20, 2019

Rhode Island-based digital jewelry brand Luca + Danni, Inc. has closed on a $6.2 million funding round of growth capital. 

As part of the deal, fellow Rhode Island-based jewelry company Ross-Simons Inc. has become the brand’s majority investor. PJC, a Boston-based VC Fund and early investor in Luca + Danni will retain a stake in the company. 

Ross-Simons said it will use its company experience to further drive Luca + Danni's growth plan over the next few years, as the digital brand anticipates a successful holiday season. 

"Luca + Danni is a digitally native brand rapidly taking market share in the jewelry space,” said Jim Speltz, president of Ross-Simons.

“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.” 

"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.

Fred Magnanimi, Luca + Danni’s founder, will remain in his position as the company’s chief executive officer and as a board member. 

A three-year-old company, Luca + Danni offers a variety of bracelets, stacks, rings, necklaces and earrings, with prices ranging from $13 for sale items to $120 for a set of stackable bracelets.