Charles & Colvard Expands its Digital Footprint with Launch of Moissanite Outlet

RESEARCH TRIANGLE PARK, N.C., March 16, 2021 /PRNewswire/ -- Charles & Colvard, Ltd. (Nasdaq: CTHR) (the "Company"), a globally recognized fine jewelry company specializing in lab created moissanite and lab grown diamonds, announced the launch of its new direct-to-consumer website, moissaniteoutlet.com, to serve as a disposition channel and to complement its global positioning and dominance in the moissanite market. Moissanite Outlet serves a large, deal-seeking consumer base with quality discounted products that do not meet the standards of Charles & Colvard's premium gem brands and fine jewelry.

"Digital expansion is a key component to our overall growth strategy and Moissanite Outlet gives us the opportunity to take back ownership of the entire moissanite market," said Don O'Connell, President and CEO of Charles & Colvard. "We believe that this new online property opens up a multi-million-dollar opportunity that allows us to monetize all of our raw material and finished goods inventory, thus minimizing product shrinkage and waste. As a separate destination with a very different product strategy, moissaniteoutlet.com rounds out our moissanite offerings allowing us to serve all demographics and consumers."

Moissanite Outlet is a call-to-action destination that caters to the opportunistic shopper. The product assortment includes moissanite rings, earrings, pendants, and bracelets, as well as jewelry set with colored moissanite and other lab created colored gemstones. Moissaniteoutlet.com has daily deals and frequent flash sales to encourage consumers to take advantage of some of the best prices available online.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (Nasdaq: CTHR) believes fine jewelry can be accessible, beautiful and conscientious. Charles & Colvard is the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide. The Company brings revolutionary gemstones and jewelry to market through its pinnacle Forever One™ moissanite brand and its premium Caydia™ lab grown diamond brand. Consumers seek Charles & Colvard fashion, bridal and fine jewelry because of its exceptional quality, incredible value and shared beliefs in environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in North Carolina's Research Triangle Park. For more information, please visit www.charlesandcolvard.com.

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SOURCE Charles & Colvard, Ltd.