By Danni Parisi.
A new startup that envisions “jewelry as a service” has just raised $5 million in capital investment, suggesting the sharing economy is alive and well in luxury.
Flont, as the company is called, was founded last year and has just completed its first successful funding round. The startup allows customers to rent fine jewelry on a rolling basis, returning them when they are done or buying the piece if they like it.
“I’ve seen firsthand how the jewelry industry has changed, and how it has been impacted by ecommerce,” said Cormac Kinney, CEO and founder of Flont, New York. “People want to shop online and on their phones, but fine jewelry is a high-touch sale.
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