Envela Corporation (Envela) provides recycling and recommerce services.
The company’s core business lines focus extending the lifespan of products through buying and selling goods in the secondary market. The company is comprised primarily of two key operating and reportable segments: consumer and commercial. The consumer segment focuses on selling authenticated high-end luxury goods, including pre-owned and repurposed fine jewelry, diamonds, gemstones, luxury watches, and secondary market bull...
Envela Corporation (Envela) provides recycling and recommerce services.
The company’s core business lines focus extending the lifespan of products through buying and selling goods in the secondary market. The company is comprised primarily of two key operating and reportable segments: consumer and commercial. The consumer segment focuses on selling authenticated high-end luxury goods, including pre-owned and repurposed fine jewelry, diamonds, gemstones, luxury watches, and secondary market bullion. At the same time, the commercial segment provides solutions for de-manufacturing end-of-life electronic assets, reclaiming base and precious metals, and other saleable materials, while also expanding the company’s presence in the ITAD industry. Envela’s subsidiaries are trusted partners for those seeking responsible value in the disposition or acquisition of technology, metals, and luxury hard assets, with each reportable segment contributing to decarbonization and value creation in its own unique way.
Consumer segment
This segment is a retail organization that operates several brands specializing in the buying and selling of pre-owned luxury hard assets. The company's ability to understand new market trends, while also paying homage to the past with vintage pieces, allows it to be the destination of choice for customers seeking a sustainable and value-driven purchase of some of the world’s most iconic brands. The company's team of experts provides a straightforward process for buying and selling items, along with guidance that helps ensure customers feel informed and confident in their decisions. The company also offers its customers a unique buying experience, as its jewelry designers introduce sustainably sourced diamonds and gemstones into the manufacturing process, resulting in a diverse assortment of modern designs at achievable price points.
On September 12, 2024, the consumer segment entered into a purchase agreement relating to the acquisition of the assets of a bespoke fabricator of jewelry in Scottsdale, Arizona (the ‘Scottsdale Transaction’).
Commercial segment
This segment operates in multiple sustainability verticals focused on the responsible disposition of end-of-life technology assets. The company's electronics recycling business was originally founded in 2009 on the premise of addressing the demand for responsible electronic waste disposal. It focuses on adhering to regulations and industry standards, ensuring the proper dismantling and recycling of electronic devices. The company's approach prioritizes reclaiming and reusing materials, preventing them from ending up in landfills. The ITAD business, tracing its origins back to its earliest predecessor in 2007, is dedicated to unlocking the value of consumer electronics within the circular economy. The company specializes in assisting businesses with the end-of-life management of their IT assets, including data destruction, asset refurbishment, and remarketing.
On December 31, 2023, the commercial segment began to optimize its overall business model, as it was born from a series of acquisitions. The business started to focus on unifying its systems, enhancing its business intelligence platforms in support of its commercial and operations teams, as well as aligning its cost structure with margin achievement, which became steady state on December 31, 2024.
Cyclicality and Seasonality
Each of the company’s reportable segments has aspects of cyclicality stemming from macroeconomic conditions consumer behaviour, and commodity markets, but also from seasonality within a given December 31, 2024.
The consumer segment business experiences seasonality with the fourth quarter (December 31, 2024) holiday months of November and December typically being the highest volume months of the year.
The commercial segment experiences seasonality with the first quarter months (December 31, 2024) of January and February typically being the highest volume months of the year.
History
The company was founded in 1965. It was incorporated as a corporation in the state of Nevada in 1965. The company was formerly known as Canyon State Mining Corporation of Nevada and changed its name to DGSE Companies, Inc. in 2005 and then to Envela Corporation in 2019.