Costco Got A Boost In Revenue Thanks To Someone Buying A $400,000 Ring

The wholesaler sells about 500 other diamond rings on their website

Updated 09/24/19

Ramin Talaie

Costco sells tons more than just family packs of granola and bulk Kirkland products. The wholesale retailer is also in the diamond business, and quite often, future grooms head to the membership-only warehouse club to pick out rings for their future brides. That actually proved to be a huge asset to Costco last quarter, when the corporation reported that it got a surge in sales because of a customer who bought a diamond ring of theirs for more than $400,000.

According to CNBC, Costsco said that it ended its last quarter on a high after a customer bought one of its ring for a hefty sum. Thy didn't say what ring it was, but when CNBC searched their website, they found a "round brilliant 10.03-carat" diamond solitaire ring for that price. They have about 500 other cuts and styles, many of which cost an upwards of $50,000.

Rings aren't the only example of Costco getting into the wedding business. In 2011, they tested out selling bridal gowns, launching a boutique in three California locations that carried about six designs from Kirstie Kelly. More recently, they kicked off a wedding registry service that allows couples to choose items like furniture, cookware, and yes, bulk snacks. The registry was an addition to their Weddings by Costco program that acts as a full-service vendor, offering members reasonable prices on food, flowers, and even honeymoon travel deals. Just this February, they put a five-tier all-cheese wedding cake up for sale, and we're still drooling over how good it looked.

Some couples have even taken things a step further and really embraced the Costco aesthetic. Newlyweds Sue Berkley and Eli Bob loved the store so much that they decided to just tie the knot inside one of the warehouses in Australia. Between that and the $400,000 ring, weddings are really working out for the company.

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