Ethical jeweller hailed as 'number one' by Vogue launches £150k Seedrs round
Ethical fine jewellers Ingle & Rhode has launched a crowdfunding campaign today (October 3) on Seedrs.
The business is looking to expand interest from the millennial market through its ‘ethical’ engagement and wedding rings.
The funding round on Seedrs has a minimum target of £150k, which represents 4.6 per cent of the business.
The investment aims to be used to expand Ingle & Rhode’s digital marketing presence. Last month, this area of the brand made enquiries of up by 85 per cent year-on-year through strategic digital campaigns.
Ingle & Rhode was founded in 2007, and is said to be one of the first UK jewellery businesses to offer ‘ethical’ rings. The business is currently valued at £3.1m.
Tim Ingle, co-founder of Ingle & Rhode, said: “We’re delighted to be launching this crowdfunding campaign; it’s set to take Ingle & Rhode to the next level.
“The response to our pioneering ethical engagement and wedding rings has been fantastic since day one, but in recent years we’ve seen an explosion in demand as people become increasingly concerned with the ethics of what tends to be the most significant jewellery purchase of their life.
“The time is therefore right to push ahead with our ambitious plans for growth. We want to make buying ethical wedding and engagement rings simple for every single person who cares about quality, design and sustainability.”
Ingle & Rhode specialises in ethical wedding and engagement rings with all gems said to be conflict-free, sustainably mined and cut and polished by workers with fair pay and conditions.
Hailed by Vogue as ‘one of London’s number one jewellery destinations, Ingle & Rhode is part of the UK fine jewellery market which is worth £3bn per year, bolstered by the 240,000 weddings held each year.
David Rhode, co-founder, added: “We’ve always been fortunate to have incredible customers who truly believe in our vision for ethical rings.
“Many of our customers have gone to become investors in our business, and we hope that this campaign proves no exception.
“We hope our example of using a truly ethical supply chain and practices not only caters to a growing market demand but also inspires others in the industry to raise their game.”
Access free online guidance for North East businesses in the Growth Hub North East's COVID-19 toolkit →