Business plans to expand into B2B consultation for jewellery industry.
The Cut’s bespoke engagement ring service has reported a 53% increase in turnover in 2013, following its launch in 2012.
The service is run by jewellery blogger and designer Kate Baxter, who saw a gap in the market for linking couples or individuals seeking a bespoke engagement ring with designers that fit their taste or budget.
Baxter credits the success of the initiative to the uniqueness of the service, as well as the rise in popularity of bespoke products in general.
She said: “The sheer mass and variety of jewellery designers in London can be quite daunting for someone looking for an engagement ring, and a recommendation is key. Our service is quite unique on the market in that we offer a non-biased endorsement and recommend only independent, highly skilled jewellery designers whom we have absolute confidence in.
"People also want their money to go further in the current economic climate. By buying a one-off engagement ring that is expertly made by hand by an award-winning designer they feel confident that this is excellent value for money.”
The Cut plans to follow this success by increasing the number of designers it work with to offer a wider selection of styles.
Baxter plans to further expand the business this year by offering B2B consultation for new jewellery start-ups and existing retailers, and The Cut website is also undergoing a redesign, with a new look set to be launched in early spring 2014.