Alkemistry online sales soar 315%

Independent fine jewellery brand The Alkemistry has reported a “record” 315% growth in year-on-year e-commerce sales, despite the pandemic’s impact on business at its Floral Street concept store. In its latest update, the group said it was able to capitalise on shifting consumer trends during the period, as it noted an increase for “purchases with meaning, gifting and thoughtful spending”, all of which contributed to a 67% sales growth. The London-based brand said its “best-performers” in the period have been its talismanic “feel-good” styles, such as its luxury create-your-own craft concept, Kumachi, and its manifestation bead collection, Cinta, which both attributed to sales growth over the year. It added that the brand’s Aria collection additionally became a “go-to gifting collection” during the Christmas period. Over the last year, The Alkemistry has also adapted to the closure of its Floral Street concept store by working closely with retail partners, including Selfridges, Harvey Nichols and Farfetch, to expand its retail presence. It has also introduced further payment gateways and credit facilities for customers, including Klarna’s Buy Now, Pay Later scheme. Global expansion now continues to be a long-term business objective, according to the group, following the extension of its retail pop-up within Galeries Lafayette in Qatar from one month to a further six into 2021. Looking ahead, The Alkemistry is exploring international retail expansion opportunities in China, Middle East and Netherlands, but said it will keep its e-commerce platform as the priority for this first quarter due to the current climate. Managing director Jenna McGee said: "Despite numerous hurdles during the first half of the year, and through our ability to adapt to our approach to market and the exceptional product launches within our own brand in the second half, we are really pleased with the results which set us in good stead to continue to grow into 2021." Founder and creative director, Kirstie Gibbs, added: “At the beginning of 2020 I would never have imagined having to close up all of our stores. “We’ve really had to adapt and have used this time to try and focus on areas of improvement and built a collection that has resonated with what people want and need in the current climate such as timeless pieces, pick me ups and interactive kit. We are continuously looking at the change in our customers’ desires and creating and updating collections based on this.’’