Ethical fine jeweller, Ingle & Rhode, has launched a crowdfunding campaign to help meet booming millennial demand for ethical engagement rings and wedding bands.
Launched on Seedrs, the funding round on has a minimum target of £150,000 – representing 4.6% of the business.
The investment will be used to expand Ingle & Rhode’s fast-growing digital marketing presence – an area which is already reaping dividends for the brand, with enquiries in September up by 85% year on year thanks to strategic digital campaigns.
Ingle & Rhode, which was founded in 2007, was one of the first UK jewellery businesses to offer truly ethical rings. Since then, they’ve grown rapidly thanks to the rise of the conscious consumer, with demand increasing significantly in recent years as sustainability and ethical purchasing hit the mainstream. The business is currently valued at £3.1 million.
Ingle & Rhode specialise in ethical wedding and engagement rings with all gems conflict-free, sustainably mined and cut and polished by adults working with fair pay and conditions. These ethical jewels are crafted in Fairtrade gold, recycled platinum and fairmined silver.
Co-founder of Ingle & Rhode, Tim Ingle, comments: “We’re delighted to be launching this crowdfunding campaign: it’s set to take Ingle & Rhode to the next level. The response to our pioneering ethical engagement and wedding rings has been fantastic since day one, but in recent years we’ve seen an explosion in demand as people become increasingly concerned with the ethics of what tends to be the most significant jewellery purchase of their life. The time is therefore right to push ahead with our ambitious plans for growth. We want to make buying ethical wedding and engagement rings simple for every single person who cares about quality, design and sustainability.”
Hailed by Vogue as ‘one of London’s number one jewellery destinations’, Ingle & Rhode has a cult following of conscious customers who are set to play a large part in their story. In their last funding round, more than 50% of funds raised came from the brand’s own customers who were keen to invest in the lucrative and ethical opportunity. This enabled Ingle & Rhode to grow their team, finesse their image and run highly successful campaigns across Google, Facebook, Instagram, Pinterest and Youtube, something they are now looking to expand with this latest raise.
“We’ve always been fortunate to have incredible customers who truly believe in our vision for ethical rings. Many of our customers have gone to become investors in our business, and we hope that this campaign proves no exception. We hope our example of using a truly ethical supply chain and practices not only caters to a growing market demand but also inspires others in the industry to raise their game.,” adds co-founder David Rhode.