A fast-growing jewellery business in Bristol has received a £600,000 investment to help it expand its operations outside of the city.
Online retailer Lillicoco, which operates out of the Square Works co-working office space on Berkeley Square in Clifton, specialises in luxury antique pieces including rings, necklaces and pendants.
The business was founded in 2016 by entrepreneurs Simon Green and Stacey Lillico - a trained gemmologist - alongside their full-time jobs.
Since then the company has reported strong year-on-year growth, with sales of more than £1m since 2021. Most of its clients are based in the US, with the rest equally split between the UK and and the rest of Europe.
Lillicoco has now received a six-figure boost from investment firm Foresight, which it says it will use to open a new workshop in Birmingham, near the city’s Jewellery Quarter, where it intends to create 15 to 20 jobs through to 2025.
The e-commerce firm said the finance, drawn from the Midlands Engine Investment Fund, would enable it to make “key senior hires”
Mr Green, Lillicoco‘s managing director, said: “It is our mission to build the largest and most diverse independent collection of fine antique and vintage jewellery available online.
“This investment is an essential step that we are delighted to take and will enable us to broaden our inventory and expand further into new and existing markets - offering our loyal customers and collectors more variety and choice than ever before.”
Foresight director Ray Harris added: “Foresight is excited to support Lillicoco in their next stage of expansion as their growing collection of unique, high-quality jewellery pieces are discovered and treasured by new and returning clients.
“This is another example of how Foresight’s funds are creating jobs in the region for dynamic business owners with an international and sophisticated client base.”
Lillicoco said it would benefit from Foresight’s experience of supporting more than a dozen e-commerce companies with growth plans.
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
