Ross-Simons Makes Strategic Investment in Luca + Danni As Part of $6.2M Raise

Ross-Simons Makes Strategic Investment in Luca + Danni As Part of $6.2M Raise

Luca + Danni, Inc, the Rhode Island-based jewelry brand, today announced the closing of a $6.2 million funding round of growth capital.

Ross-Simons Inc., became the majority investor in the deal. PJC, a Boston-based VC Fund and early investor in Luca + Danni will retain a stake in the company. The investments create a powerful partnership between an iconic jewelry company and three-year-old digital brand. Ross-Simons and PJC believe strongly in Luca + Danni's disruptive model and purpose-driven brand. Fred Magnanimi, Founder of Luca + Danni, will remain as CEO and Board Member. PJC was formerly named Point Judith Capital and Governor Gina Raimondo still holds interest in one of the firm's funds.

"I started this brand to honor my family's 50+ year heritage in U.S. made handcrafted jewelry and help others embrace the journey of life as I learned to do after losing my brother to Leukemia," said Magnanimi, "With the amazing resources and strategic support of Ross-Simons and PJC, I am confident we will help millions embrace their own journey and continue to build our community."

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Ross-Simons, also based in Rhode Island, is considered a strategic investor and historically has produced one of America's largest consumer-focused jewelry catalogs.

According to the press release, Ross-Simons was drawn to the brand's meaningful purpose, explosive growth and American craftsmanship. 

"Luca + Danni is a digitally native brand rapidly taking market share in the jewelry space. Our resources, product expertise, and go-to-market experience matched with Luca + Danni's powerful brand will foster meaningful growth in the evolving e-commerce world," said Jim Speltz, President of Ross-Simons, Inc.

"This strategic partnership leverages the complementary core values and synergies between two great consumer brands, positioning Luca + Danni to truly disrupt the direct-to-consumer market," added David Martirano, Managing Partner of PJC.

The investment comes as Luca + Danni prepares for continued rapid growth this holiday season. "With the belief that life is a journey meant to be embraced, each piece of handcrafted Luca + Danni jewelry is designed to reflect the moments in life that matter most. As a result of this latest round of strategic investment, Luca + Danni is set to be the must-have holiday gift this year," said the release.