The Gem of Matt Lauzon

Posted on March 21, 2012

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If there is one luxury that women would not be able to resist, it would have to be jewelry. Throughout the years, these expensive adornments have been worn by women of class and stature; naturally, the average female tried to emulate them by buying their very own piece of jewelry. But the problem is, not all women can afford these shiny, sparkling gems.

Ironically, one man thought of a solution to this problem. When Matt Lauzon was a student at Bobson College, he started a company originally called Paragon Lake. This company followed a business-to-business model, merging with retailers that offered custom jewelry. Amazed with his idea, Highland Capital Partners awarded Lauzon with $500,000 in seed capital. With this money, the young entrepreneur made a huge paradigm shift in the world of jewelry.

This change came in the form of Gemvara, a company that allowed customers to design jewelry without actually having to visit a jewelry store. His company also offers over one billion styles to choose from, including some famous pieces like Natalie Portman’s engagement ring and Kate Middleton’s earrings. It’s no wonder why the company shot to a $10 million run rate just a little over a year from its opening.

Featured as one of  Inc.com’s top 30 under 30, Lauzon is best known for a creating a company that gives Tiffany and other established jewelry companies a run for their money. Although this might seem like a bold prediction, Gemvara certainly walks the talk as their sales figures grow each fiscal year. The story of how Lauzon, who was previously ousted as the CEO, came back stronger than ever, is reminiscent of Apple founder Steve Job’s  rise to success. Can we expect the same from the former? With Gemvara on a steep trajectory, this is likely to happen.

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Posted in: Entrepreneurs