- Lillicoco is a fast-growing e-tailer of women’s affordable luxury antique jewellery, including rings, bracelets, necklaces and pendants
Growth capital provided by Foresight through the Midlands Engine Investment Fund
Funding will help scale the core business and open a workshop in Birmingham’s Jewellery Quarter
Foresight Group (“Foresight”), a listed private equity and infrastructure investment manager, is pleased to announce a £600,000 growth capital investment intoLillicoco Limited (“Lillicoco” or “the Company”), using equity finance from the Midlands Engine Investment Fund (“MEIF”).
Lillicoco is a fast-growing e-tailer of women’s affordable luxury antique jewellery, including rings, bracelets, necklaces and pendants - ranging from £100 to £5,000 per item. Each item is authenticated and certified in-house. It is then listed on Lillicoco.com with a detailed condition report, as well as high-definition photos and videos. The Company boasts a 4.9/5 Trustpilot score, making it the most positively reviewed and trusted online operator in the market.
Currently based in Bristol, Lillicoco was founded in 2016 by Simon Green and Stacey Lillico, alongside their full-time jobs. As a trained gemmologist, Stacey began to directly source high-quality, antique stock across the UK and used her skills to refurbish and upcycle each piece. Simon, with a background in eCommerce, launched the Lillicoco website with the aim of becoming the trusted go-to brand for antique jewellery.
Since the Company began trading, Lillicoco has seen strong year-on-year growth with sales of more than £1 million since 2021. Most of their clients are based in the US with the remainder equally split between the UK and Europe.
Lillicoco will benefit from Foresight’s eCommerce experience, with the investor having supported over a dozen eCommerce companies.
The investment will enable the Company’s growth plans with new key senior hires. Lillicoco plans to open a workshop in Birmingham, near the Jewellery Quarter, and hire a local team. It is estimated that 15 to 20 skilled jobs will be created in the region through to 2025.
Commenting on the investment, Simon Green, Managing Director and Co-Founder of Lillicoco, said: “We are thrilled to welcome Foresight to Lillicoco. 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."
Ray Harris, Director at Foresight, 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.”