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.
⸻
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
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
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
Learn more about your ad choices. Visit megaphone.fm/adchoices