Online diamond jewellery retailer Taylor & Hart has returned to crowdfunding platform Seedrs to ramp up its global expansion after an initial success across Europe and the US.
Since the e-tailer’s first round of using Seedrs in 2014, Taylor & Hart has grown sales from £110,000 to over £1.7m per annum with a strong pipeline of engagement ring sales and 20% repeat purchases rate.
Taylor & Hart chief executive officer and co-founder, Nikolay Piriankov, shares: “Initially, raising investment through the crowd was an opportunity to build a successful ‘friends-and-family’ round to help us kickstart the company. We were delighted by how our investors evolved to also be customers, mentors, board advisors and some of our strongest brand advocates. This is why we’re back – we see crowdfunding as an opportunity to raise investment, but also to build a community.”
“Taylor & Hart is a business at a real inflection point. The hard work has been done – investment in people, infrastructure and brand – and the business is now ready for significant scale,” adds investor and board member, Alexander Garnier. “This investment is going to give the company the runway it needs to power its way to the next stage of growth.”
Garnier continues: “There have been ups and downs–as to be expected with any start-up. The difference has been the experienced, talented, and fully committed management team, led by Nikolay, who has had the vision and tenacity to see the business through every challenge. The addressable market is huge–over £60bn! I would not be surprised if Taylor & Hart hits 10x and then 100x its current revenues in a relatively short space of time.”
With customer experience at the forefront of what they do, Taylor & Hart offers a bespoke design service through specifically developed technology online and in-store with its clicks and bricks business model.
Offering over 150,000 ethically sourced diamonds and the ability to design your own ring, customers can choose to meet an expert in the company’s showroom to get advice, perfect their design, receive a 3D printed replica and touch and feel the product before buying.
Based out of London, Taylor & Hart already sells across Europe, the US and UK.