Belfast Telegraph

Jewellery firm Stella & Dot pulls out of European Union market

The company, its reported, blamed currency fluctuations for a decline in margins.
The company, its reported, blamed currency fluctuations for a decline in margins.

The US jewellery chain Stella & Dot is to pull out of the EU market.

The BBC has reported of correspondence posted by sales reps on social media appearing to come from the company which suggests currency fluctuations between the dollar, pound and euro have led it to make the "difficult decision" in withdrawing.

It said market conditions had become "very difficult" with a "deep decline in margins".

The company which also sells clothes and make-up works through direct sales by targeting women to work as agents looking for work who then hold "trunk parties" similar to tupperware parties to sell goods.

The company said it would honour and support its agents until April 7.

A spokeswoman for Stella & Dot confirmed the move to the Belfast Telegraph.

"The brand will be taking appropriate measures to exit the European market gracefully for both stylists and customers as the community is of the utmost importance to Stella &Dot," she added.

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