Image credit: Courbet
The young French jewelry brand Courbet, which uses recycled gold and synthetic diamonds, despite the situation with the COVID-19 pandemic, has attracted 8 million euros from Raise Ventures and other investors, the newspaper Les Échos Business reported.
The Courbet brand relies on the Internet sales and intends to create an exclusive production channel in France for the supply of high-quality laboratory diamonds. Today, synthetic stones are imported to France mainly from the United States and Russia. Their cost is about 40% lower than natural diamonds.
During the isolation period, all physical sales of Courbet were frozen for two months. But, starting from May 11, customer purchasing activity began to grow rapidly. "This is not only due to the catch up effect. In recent weeks, many people have learned about our concept through our website," says Manuel Mullen, one of the co-owners of Courbet.
He is convinced that online trading will eventually be the main channel for selling diamond jewelry. In three years, the owners of Courbet aim to reach a turnover of 30 million euros, 70% of which will be provided by sales on the Internet. Today, this trading channel generates 20% of revenue.
According to Mullen, the strength of the Courbet trading concept is not just in "cheap luxury". The consumer is also attracted by the fact that the production of synthetic diamonds used by the jewelry company is environmentally safe and guaranteed not to violate human rights.
"Despite the pandemic, investors had no doubts about their decision," says Mullen. Part of the raised capital will be used to upgrade the online sales platform, which will allow the client to choose a jewel in conditions close to visiting a physical store. At the same time, the Courbet brand relies on the disposition of new generations to purchase jewelry online.
Alex Shishlo, Editor of the Rough&Polished European Bureau
