British jewellery brand secures £20m funding to fuel expansion

Monica Vinaderjpg

British jewellery brand Monica Vinader has secured a £20m investment from private equity firm Piper that it will use to fuel a store opening programme and bolster its e-commerce capabilities.

Alongside its own investment of £14m, Piper has brought in US consumer specialist Winona Capital Management, which has invested £6m to help accelerate the growth of the business in the US.

The investment comes just eight years after Monica Vinader founded her eponymous business to provide customers with affordable luxury pieces that bridge the gap between costume and fine jewellery.

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The brand, which now turns over £23m a year and employs 170 staff, has quickly become renowned for its iconic friendship bracelets, vibrant gemstones and cutting edge diamond pieces enabling customers to style, stack and personalise their jewellery.

The Duchess of Cambridge, Kate Winslet and Alicia Vikander are among Monica Vinader’s high profile customers.

The business, which is run by Monica and her sister Gabriela, currently has three London stores in Chelsea, Mayfair and Canary Wharf and a rapidly growing global footprint in the US and Asia. Its jewellery can also be found in department stores both in the UK and internationally.

The investment will support the continued growth of the business. This will include a further roll-out of its own and franchised stores, expansion of its wholesale distribution, particularly in the US as well as continued investment in its own e-commerce channel. This is the seventh investment from Piper’s £107m, fifth fund.

Vinader said: “We undertook a rigorous review of potential partners we could work with on our next stage of growth. It was the passion that Piper and Winona demonstrated for our brand and our growth ambitions that really appealed to us. They stood out from all the others due to their deep understanding of how to grow consumer brands and their ability to add significant value through their networks, knowledge and in-house expertise.”

Chris Curry, managing partner of Piper, added: “We have been tracking the growth of Monica Vinader for a number of years and have always been impressed by Monica and Gabriela’s vision for their brand and their determination to build a uniquely differentiated and highly valuable business.”

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