Jewellery brand 7879 has experienced an incredible surge in sales, witnessing a staggering 977% increase in revenue in 2022, amounting to £1.5 million. The company is projected to further amplify its revenue to £3 million in the coming year, 2023. The driving force behind this phenomenal growth can be credited to successful launches at renowned retailers Harrods and Selfridges. These launches followed a substantial seed funding round of £5.5 million led by Anglo American in the previous year.
CEO and Co-founder of 7879, Sach Kukadia, attributes the brand’s success to customers’ inclination towards a fresh approach to jewellery collection. Consequently, the average order value has risen to £500, and this number continues to rise. Moreover, an astonishing 50% of the brand’s revenue can be accredited to repeat customers, with some individuals even making up to 19 purchases within a few months.
Established just one year ago, 7879 was founded by Sach Kukadia, the founder of SecretSales.com, and Ben Flowers, a former BCG executive. The brand name, 7879, holds significant meaning as it is derived from the atomic numbers for platinum and gold on the periodic table. Known for producing “wearable” jewellery, constructed from 100% recycled 24k gold or responsibly-mined platinum, 7879 takes great pride in its commitment to sustainability. The brand further differentiates itself by adopting a transparent pricing policy based on weight.
Looking towards the future, 7879 plans to expand its presence internationally in the first half of 2023. This expansion is driven by the growing demand from brand partners and retailers in the United States, Europe, and the Middle East. Additionally, the brand will be introducing new products every month, with an emphasis on creating pieces suitable for everyday wear. Sach Kukadia remains optimistic about the brand’s prospects, noting that post-pandemic consumer behavior has shifted towards making prudent purchases that offer reduced risk. He firmly believes that jewellery should be regarded as a long-term investment, comparable to property, wine, or fine art, as it retains its monetary value indefinitely.
As relevant links to the article, you may find the following sources useful:
1. Harrods – Official website of Harrods, one of the prestigious retailers where 7879 launched its products.
2. Selfridges – Official website of Selfridges, another renowned retailer where 7879 successfully introduced its jewellery collection.
