CW Sellors has secured funding worth a reported £1.5m that it will use to open a new design and manufacturing facility in Derbyshire.
The funding will also help the business to expand its team and support sales and marketing activities to boost revenue growth.
The new facility, which will be based in Carsington, will include a jewellery boutique retail store, exhibition space and café.
CW Sellors was established more than 40 years ago and is one of the UK’s leading fine jewellery and luxury watch specialists. It is an approved retailer for many leading brands including IWC, Breitling, TAG Heuer, Fope, Mikimoto, Gucci and Faberge.
Funding for the project has been provided by the Midlands Engine Investment Fund and is managed by Maven Capital Partners.
Richard Altoft, investment director at Maven, said: “This is a really exciting time for CW Sellors and the expansion of their design and manufacturing centre could see a continuing number of prosperous years ahead for the business.
Chris Laud, head of finance of CW Sellors, said it was delighted to secure the agreement that will allow it to expand the business.
“It has been a pleasure to work with Maven at this important time in the development of our business. Raising finance can be a difficult and often quite painful process but Richard was very pragmatic and supportive, and, in the end, the whole experience was very straightforward.”