Jewelry brand Dannijo is marking its 10th anniversary this week with a bit of self-reflection.
The company, founded by sisters Danielle and Jodie Snyder, will place a new focus on its direct-to-consumer business.
While the brand counted some 250 stockists last year, it has since slashed that number in half and will continue to reduce these partnerships and shift focus on direct retailing.
“We are celebrating our 10-year anniversary, we have grown organically — never paying for influencers or advertising. We’re self-financed in a world with a lot of venture capitalists throwing money around. We just want to make beautiful products and share it with our friends,” said Danielle Snyder.
While the brand will maintain relationships with key retailers like Saks Fifth Avenue, Shopbop, Neiman Marcus and Browns, it is “scaling back” on wholesale. By focusing on a direct-to-consumer model, the brand has reduced its prices by about 30 percent. Presently, about 60 percent of brand sales come through the company’s direct channels. In 2018, the brand said it has already charted 75 percent year-over-year growth.
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“Pricing has been readjusted to compete with the current landscape. I think the world is changing. I don’t think anyone knew a decade ago the power of social media and how it would transform consumption. The structure brands have abided by has drastically changed and will continue to change for the next couple of years,” Danielle said.
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The company has leveraged the power of social media, seizing on interactions with its 160,000-plus followers. “Everyone is feeling themselves through this change. We continue to evolve, and this is a lot of the reason why we are still around at 10 years without funding,” she added.
Dannijo has opened its showroom space at 27th Street and 11th Avenue for shoppers. It also recently launched a line of slipdresses inspired by the Snyder sisters’ Nineties upbringing. The dresses, which have sold out of multiple production runs, are only available for sale on the brand’s site and at its showroom.
“We are staying true to our roots. We launched during the recession in 2008, and have decided to act small, no matter how big we got. It’s important for us to stay nimble so we are able to move with the market and react to demand,” Danielle said of the company’s ethos for the future.