$100M Engagement Ring Expert: Predictions for 2026 And How I Disrupted A Male-Led Industry

Dec 31, 2025

Nicole Wegman, founder and CEO of Ring Concierge, shares her journey from a $2,000 startup to a $100M luxury jewelry brand. She dives into the evolving trends of engagement rings, discussing the lab-grown vs. natural diamond debate and the pressure of 'engagement season' fueled by social media. Nicole shares insights on which ring styles hold their value, the truth about engagement ring costs, and how to communicate your preferences to a partner. She also reflects on the unspoken challenges of success and maintaining authenticity in business.

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INSIGHT

Why Engagement Season Concentrates

Engagement season peaks around Thanksgiving through Valentine's Day because family gatherings and social pressure accelerate proposals.
Nicole Wegman says holiday timelines and family expectations create concentrated demand for rings.

INSIGHT

Social Media Made Rings Bigger

Social media amplified proposal spectacle and ring size expectations, driving larger average stones.
Nicole links the trend to public proposals and desire to impress on social platforms.

ADVICE

Choose Cuts That Hold Value

Expect ring trends to evolve slowly; pick classic cuts like round, emerald, or cushion for long-term value.
Nicole advises rounds, emeralds, and cushions as safe bets for resale value.

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What engagement rings are actually worth investing in through 2026? And is lab-grown worth it? Ring Concierge founder Nicole Wegman - who built a $100M+ jewelry brand with diamonds - joins Maggie to break down the trends shaping engagement rings right now, the lab-grown vs natural diamond debate, and why “engagement season” creates so much pressure. She also shares the real founder story behind Ring Concierge: starting with $2,000, bootstrapping to $100M+ in sales, and what it takes to scale from scrappy entrepreneur to CEO without losing the aesthetic, the community, or yourself. We also talk about the unspoken side of success - how money and reputation can change the people around you - and why Nicole built a nine-figure business without outside investment by designing around what women actually want: clarity, taste, trust, and a brand that feels like you. ⸻ Timestamps

00:00:00 Intro 00:01:50 Why Engagement Season Feels So Intense 00:02:43 The Social Media Ring Pressure Nobody Admits 00:04:30 Taylor Swift, Selena Gomez & The New Ring Trends 00:06:12 Designer vs CEO: What Nicole Calls Herself 00:07:30 The Most Expensive Rings I’ve Ever Sold 00:08:14 The Ring Styles That Hold Their Value 00:08:34 Lab-Grown vs “Real” Diamonds: The Truth 00:11:36 The Real Average Cost of an Engagement Ring 00:12:28 How De Beers Shaped “Real” Diamonds 00:13:48 Engagement Rings Are Status Symbols (Let’s Be Honest) 00:14:31 How To Tell Your Partner You Want A Different Ring 00:15:46 Starting Ring Concierge In The Diamond District 00:17:05 Entering A High-Cost Industry Without Big Money 00:18:11 How Nicole Turned $2,000 Into $100M+ 00:19:18 Building 1M Followers On A Luxury Brand Account 00:21:09 Why I Didn’t Build A Personal Brand Until Now 00:23:00 Personal Brand: Honest, Unfiltered, And A Working Mum 00:24:17 How To Stay “Luxury” While Showing Real Life 00:25:18 Why You Should Test New Opportunities 00:26:30 Who Ring Concierge Is Really For (And Why It Works) 00:27:24 Beehiiv Ad Read 00:28:46 Influencer ROI: How We Choose Who To Work With 00:31:07 Why I Shared $100M Revenue (And What It Changed) 00:33:46 Bootstrapping & Why I Didn’t Raise Money 00:35:06 The Sacrifices No One Talks About (Including Kids) 00:35:59 The Real Advice: Hard Work, Luck, And Timing 00:37:06 Two Entrepreneurs, One Marriage: How We Make It Work 00:39:05 People Treated Me Differently After $100M Went Public 00:41:42 Taking Investment: Why Webster Capital Made Sense 00:43:15 When Men Started Treating Me Differently 00:45:00 I Don’t Have A Board… And That Might Be A Mistake 00:45:59 The Book That Made Me Start With $2,000 00:46:31 The Scaling Books I Recommend Now 00:48:40 The $500K Mistake I’ll Never Repeat 00:51:08 The Jessica Alba Lesson: Your Team Must Evolve 00:52:41 What I Look For In Every Hire: Grit, Pivot, No Ego 00:54:56 Rapid Fire Questions

Sponsored by: Beehiiv - Use code HSR30 for 30% off Link: https://www.beehiiv.com/hsr?utm_campaign=hsr-2026-Partnership&utm_medium=podcast&utm_source=hsr&utm_term=2025-12-31 ⸻ Hot Smart Rich: Join 250,000+ angels and subscribe to the Hot Smart Rich newsletter: https://hotsmartrich.com/subscribe Hot Smart Rich Money Mindset: https://shorturl.at/pJWLc Merch: https://hotsmartrich.shop/ YouTube: https://shorturl.at/IXXFZ Instagram: https://www.instagram.com/hotsmartrich/ Tiktok: https://www.tiktok.com/@hotsmartrich

Maggie Sellers Reum: Instagram: https://www.instagram.com/maggiesellersreum/ Tiktok: https://www.tiktok.com/@maggiesellersreum LinkedIn: https://www.linkedin.com/in/sellersmaggie/ Locker: https://www.wantlocker.com/users/maggiesellers ShopMy: https://shopmy.us/maggiesellers Amazon Storefront: https://www.amazon.com/shop/maggiesellers ⸻ Follow Nicole Wegman: Instagram: https://www.instagram.com/itsnicolewegman Ring Concierge: https://ringconcierge.com

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