Online jewellery retailer JewelStreet has reported a monthly sales growth of 155% year-on-year.
This growth comes in the midst of a positive year for the luxury e-tailer, which has been described as Harper’s Bazaar as a “one stop shop for remarkable treasures” and secured an additional investment round of £250,000.
International expansion plans are also in full swing, having already launched a dedicated site for the USA, Canada, Australia, New Zealand and key markets in continental Europe.
JewelStreet chief executive officer and co-founder Rob Passmore comments: “We are looking to launch additional sites focusing on Russia and China, as well as key markets in the Middle East and Latin America in the coming months. We really want to be the export platform for luxury jewellery designers globally, helping to expose their work to affluent customers all over the world; this is what we are focused on delivering. Our recent round of investment will really help to accelerate this and generate strong marketing and sales traction for the designer community.”
Passmore also adds the sales value on the site within JewelStreet’s ‘fine/couture department’ was now close to £2,000 and across the site as a whole had risen from £100 a year ago to over £440 in July 2016. The growth is also seeing the team expand with some key hires.
“We are thrilled to have recruited the new business manager at Notonthehighstreet to lead our designer curation team,” Passmore explains. “She will oversee the continued growth of the global curation team as we continue to expand and recruit designers from around the world. We also want to emphasise that Jewelstreet is still keen to hear from strong jewellery brands and designers within the UK.”
At the recent Couture show in Las Vegas, JewelStreet signed up over 35 global brands. The calibre includes Ivanka Trump Jewellery, Gurhan, Melissa Joy Manning, Akillis and Van Leles to name but a few.
“The show was very different this year,” comments Passmore, “designers were no longer questioning if luxury jewellery could be sold online, they were keen to understand how they could capture a share of these new, online sales.”
Varvar Golod of Akillis, a ‘haute joaillerie’ based in Paris, says on why the brand has chosen to work with Jewelstreet: “We were seduced by a great brand selection, its broad international coverage and impeccable client service. It is a great platform for customers passionate about jewellery and we are looking forward to working together.”
Passmore concludes: “2016 is proving to be a critical year for Jewelstreet and online jewellery generally. Despite the turbulent political and economic backdrop, customers continue to increase their online spending, especially within the luxury jewellery sector.”