British jewellery brand 7879 posts first year revenues of £1.5m
British jewellery brand 7879 has announced revenues of £1.5m for its first year of trading, with revenues set to hit £3m in year two.
The company’s quarterly revenues jumped 977% from Q1 to Q4 in the first year’s trading and average order values increased linearly to £500.
Repeat customers have contributed almost 50% of revenue numbers over the year with some buying up to 19 times within a few months
The brand was founded by SecretSales.com founder Sach Kukadia and former BCG exec Ben Flowers and produces wearable jewellery items with two distinct features.
All items are made from investment grade bullion and responsibly mined platinum and are priced transparently by weight in real-time.
The brand is already available in Harrods and Selfridges and received £5.5m in seed funding led by Anglo American and Rainmaker in June 2022.
Sach Kukadia, co-founder and CEO of 7879, said: “We had a brilliant first year and are set to take off in 2023. Consumer behaviour post pandemic has shifted towards smart purchases that may offer reduced risk. Our jewellery will hold monetary value forever and we believe jewellery should be viewed with the same investment thesis as property, wine or fine art.
“It is clear consumers want value exchange with every purchase; not only do we promise liquidity at any time but we sell jewellery pieces produced using a superior purity, for a fraction of the price, as well as a guaranteed sustainability promise.”
He added: “Furthermore, at a time of significant economic uncertainty, we believe selling jewellery transparently – not just in terms of pricing but also in quality – is key to paving the way to a sustainable future.”