A bespoke London jeweller has just launched its Series A funding round
Taylor & Hart, a London online retailer of bespoke diamond jewellery, has returned to Seedrs for its Series A funding to ramp up global expansion after initial success across Europe and the US.
Since the company’s first round on Seedrs in 2014, Taylor & Hart has grown sales from £110k to over £1.7m per annum with a strong pipeline of engagement ring sales and 20 per cent repeat purchases rate.
The retailer is expanding and with customer experience at the forefront of what they do, Taylor & Hart offers a design service through specifically developed technology online and instore; a clicks and bricks business model.
Nikolay Piriankov, CEO and co-founder at Taylor & Hart, said: “Initially, raising investment through the crowd was an opportunity to build a successful ‘friends-and-family’ round to help us kickstart the company.
“We were delighted by how our investors evolved to also be customers, mentors, board advisors and some of our strongest brand advocates. This is why we’re back - we see crowdfunding as an opportunity to raise investment, but also to build a community”.
While purchasing jewellery online is certainly fast growing, 69 per cent of people who purchased on the High Street, said that was because they were able to touch and see the ring before committing to purchase.
Offering over 150,000 ethically sourced diamonds and the customer’s ability to design their own ring, people can then choose to meet an expert in our showroom to get advice, perfect their design, receive a 3D printed replica and touch and feel the product before buying.
Alexander Garnier, investor and board member, commented: “Taylor & Hart is a business at a real inflection point.
“The hard work has been done - investment in people, infrastructure and brand - and the business is now ready for significant scale. This investment is going to give the company the runway it needs to power its way to the next stage of growth.
“There have been ups and downs–as to be expected with any startup. The difference has been the experienced, talented, and fully committed management team, led by Nikolay, who has had the vision and tenacity to see the business through every challenge.”