If you weren’t convinced that the future of media will be very different than the past, Condé Nast investing in a jewelry company might change your mind.
TechCrunch reported that the media mogul’s recent investment in RenéSim, a luxury jeweler in Europe, is just another sign of its desire to diversify itself and refocus business efforts to drive new models, like ecommerce.
Condé Nast Germany has owned shares in RenéSim, one of Europe’s first online jewelers in the luxury category, since 2011. The recent investment has raised its stake to a 46 percent capital increase.
RenéSim is an online-only jeweler with no intermediate dealers, offering high-quality jewelery and custom-made jewelery. According to Moritz von Laffert, Managing Director of Condé Nast Germany and VP of Condé Nast International, this is just the start of a new kind of investment philosophy.
Since Condé Nast’s investment in 2011, RenéSim claims its sales volume has quadrupled, as well as expanding to France and the United Kingdom in 2012.