Exciting news for the online jewelry store Rare Pink. The company, who launched its crowdfunding campaign on Seedr, raised well over its £100,000 goal. Rare Pink is an online retailer of custom designed diamond jewelry and engagement rings that are traded from London and Hong Kong. The average values of the pieces are £3,000.
Rare Pink’s main focus is to give its customers the ultimate custom design jewelry experience. Each will receive a one-of-a-kind piece of jewelry, which they have co-created. On the company’s site, consumers can within seconds start creating a piece of jewelry that will be completely unique to celebrate a specific moment or signify commitment and love. The vision of the company is to create a platform where customers can work with world-class designers to create beautiful, one-of-a-kind pieces.
Co-founder of Rare Pink Nikolay Piryankov explained,
“We are very excited to be offering customers the opportunity to propose with a ring that has meaning and a great story, without paying the high street price for this experience. After our first few customers started referring their friends to us, we realized there was a real opportunity to grow into a leading online retailer. That’s why we decided to raise our first external round of investment on Seedrs. Through crowdfunding, we have not just gained investors, but over 100 ambassadors.”
Head of diamond purchasing and co-founder David Sutton noted,
“The industry is moving in the direction of specialization, not conformity. That means making jewelry that suits the needs to the customer – not the other way around.”
The company would use the funds to begin an in-house manufacturing operation in Hong Kong; purchase precious medals and other materials needed during the manufacturing process; invest more into the marketing budget by expanding the monthly pay-per-click (PPC) spend and implementing press, affiliate, SEO and other marketing strategies; grow the sales and marketing teams by hiring the best marketing and ecommerce specialists from around the world and using outsourced sale agents to validate leads because the London team beings to work with them on their bespoke design.
Gemological Institute of America (GIA) certifies all Rare Pink diamonds and each design is unique, with a 30-day money back guarantee. The company raised a total of £120,590.
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