British jewellery pioneer brand 7879, co-founded by Sach Kukadia, the founder of SecretSales.com and Ben Flowers, a former BCG exec, has reported an incredible sales growth of 977% in just one year.
The company, which produces wearable jewellery items made from investment-grade bullion and responsibly mined platinum, saw its revenues double to £1.5 million in its first year since launch in 2022.
Now, just 12 months after the launch of its investment-focused jewellery brand, 7879 is set to double its revenue numbers to £3 million in 2023.
The success of the brand lies in its unique features, transparent pricing and sustainable practices, leading to growing demand from customers seeking a fresh approach to collecting jewellery.
7879’s Unique Features
All jewellery items produced by 7879 are made from 100% recycled 24k gold or ethically mined platinum and are priced transparently for the first time by weight in real-time according to the international bullion market.
The company’s name “7879” reflects the atomic numbers for platinum and gold on the periodic table.
Customers can buy pure precious metals in the form of wearable jewellery, accurately reflecting the items’ true underlying cost.
Transparent Pricing And Sustainable Practices
The introduction of transparent pricing has led to a disproportionately higher volume of platinum-to-gold sales compared to the industry average.
This has resulted in a positive impact on the company’s sustainability practices, with all packaging fully recyclable and using no plastic.
Additionally, when customers sell their items back to 7879, the company melts the items down and repurposes the metal into new pieces, creating a circular ecosystem with a focus on sustainability and their carbon footprint.
Sach Kukadia, co-founder and CEO of 7879, believes that consumer behaviour has shifted towards smart purchases that may offer reduced risk. The jewellery sold by 7879 will hold monetary value forever, and he believes that jewellery should be viewed with the same investment thesis as property, wine, or fine art. He stated, “It is clear consumers want value exchange with every purchase; not only do we promise liquidity at any time, but we sell jewellery pieces produced using superior purity, for a fraction of the price, as well as a guaranteed sustainability promise.”
Expansion Plans And Key Business Highlights
Following a successful first year, 7879 plans to expand its business abroad in the first half of 2023, driven by demand from brand partners and retailers in the USA, Europe, and the Middle East.
The company plans to launch new products every month with a focus on everyday wear.
Some of the key business highlights in 2022 for 7879 include the launch of its “Made to Order” program, its launch in Selfridges as part of its “Shopping the Future” campaign, and the launch of the London Underground and Billboard Campaign.
The company also received a £5.5m seed investment, and launched in Harrods for Black Friday and Christmas, generating £130k in sales in May, and finishing the year on £1.5m+ sales in December.
The success of 7879 is a testament to the growing demand for sustainable and transparent practices in the jewellery industry.
With its unique features, transparent pricing, and sustainable practices, the company has managed to disrupt the industry and attract a loyal customer base.
With its expansion plans and a focus on everyday wear, the brand is set to take off in 2023, and we can expect more exciting developments from 7879 in the near future.