Independent jewellery company Fenton & Co. has launched with a £850,000 seed funding round, led by social impact investor Mustard Seed. Investment was also received via The London Co-Investment Fund, as well as a number of angel investors, including two early investors into Bloom & Wild: Camila Dolan, and Akshata Murty.
Founded in early 2018 by Laura Lambert, jewellery brand Fenton & Co. creates bespoke engagement and occasion rings using precious gemstones. The company launches with five classic styles that customers can tailor to over 5,000 pieces to suit their own tastes with prices starting at £950. The difference in pricing is stark to those seen in traditional jewellers, where a two carat diamond ring will cost upwards of £18,000. The same size stone in either a ruby, emerald or sapphire can be purchased from Fenton & Co. for just £5,000.
The materials used to create every Fenton & Co. ring are sourced directly by the team offering its customers full supply chain transparency. Fenton & Co. works directly with local suppliers and dealers to source its materials, with all of the stones obtained responsibly from mines in conflict-free zones. An estimated 15 pc of the diamonds on the global market are still sourced from unregulated mines, where corruption in the supply chain persists. The metals Fenton & Co. uses for its engagement rings are also procured from recycled sources. Fenton & Co. support in India, where the factories are based, selecting those with working conditions are progressive – men and women are paid the same, work alongside each other, and given the same opportunities for promotion.
Laura Lambert, Founder and CEO, Fenton & Co, said: “The classic round solitaire diamond, made famous by iconic brands such as Tiffany’s and De Beers, has dominated the engagement ring market for many years. However, with a high-quality one-carat diamond costing upwards of £6,000, the cost is prohibitive for most. Our designs are made for consumers who are looking for a luxurious, unique piece that comes at an affordable price and has been created responsibly. Each of our rings is made to order for the consumer that wants a beautiful ring that truly celebrates every element of their own – or their partner’s – identity, values and personality.”
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