WSJ 12/6/12 -
Online U.S. jewelry retailer Ice.com has landed Down Under through a deal with MH Carnegie-backed Ice Jewellery.
Ice, backed by U.S. firms Polaris Venture Partners and Ignition Partners, is supplying its Australian partner with more than 1,500 products sold at prices aimed to be competitive when compared to traditional retailers.
Southeast Asia and Pacific managing director Nick Molnar, 22, told Deal Journal Australia he intends to grow Ice’s position as Australia’s only pure-play online jewelry retailer before bricks and mortar retailers, such as Prouds and Angus & Coote, catch up.
He added that Ice intends to expand into Southeast Asia in the next six months, though its first focus is Australian and New Zealand markets.
Mr. Molnar, who formerly occupied the top seller spot in eBay‘s EBAY -0.48% jewelry category, is aiming for sales in excess of 200,000 Australian dollars (US$209,000) during December, the company’s first month of operation.
Go to full article here.