Ingle & Rhode have sold 6000+ ethically-made engagement rings and wedding bands direct to consumers. New enquiries are growing strongly, up 100% YOY in September 2019. The company is back for a second raise with Crowdcube to seek new investment to drive digital marketing.
Human exploitation and environmental damage have always been rife within the £3.1 billion jewellery industry. In the past, conscientious consumers have faced a choice - compromise their ethics or give up on fine jewellery.
The need for an authentic, ethical jewellery brand has become more pressing in recent years, as the millennial generation has reached the age to get engaged. A recent YouGov survey shows that over 50% of millennials consider ethics when choosing an engagement ring, and 9% believe that it's the single most important consideration, ahead of quality and price. This generation now accounts for most of the 240,000 UK weddings each year.
Ingle & Rhode exists to meet this need, aiming to offer an exceptional combination of premium quality and authentic ethical credentials. We believe the foundations are in place to scale the business and to build the UK’s leading ethical fine jewellery brand:
- an innovative ‘clicks and bricks’ business model keeps overheads low while offering superior customer experience
- traceability is key to ensuring that every piece of jewellery is ethically produced (conflict-free diamonds, Fairtrade gold, every piece made in the UK)
- a successful crowdfunding campaign in 2018 funded an improved website and the successful testing of Instagram, Facebook and Pinterest advertising.
This current round will support an increase in digital marketing.