Sustainability in Jewellery: This London-Based Startup Is Looking To Make The Industry More Circular
In the era of heightened environmental consciousness, pioneering startups incorporating robust sustainability principles are gaining favor among eco-conscious investors.
Recent research sponsored by Amazon underscores the trend, revealing that early-stage investors are favoring startups with noteworthy sustainability credentials.
According to the study, “European venture capital and private equity investors assert that sustainable companies can command a 15% valuation premium, underscoring the potential for entrepreneurs dedicated to constructing more sustainable products and businesses.”
Conversely, startups with a lackluster sustainability track record could face a reduction in valuation of up to 8%, according to the same study.
Caroline Chalmer, the Founder and CEO of Finematter, a startup endeavoring to modernize the age-old jewellery business with sustainability at its core, engaged in a conversation with 150sec about the significance of sustainability in startups and her specific industry.
Driven by a profound interest in creative domains, Chalmer commenced her sustainability journey in 2016 by collaborating with a trade organization named Global Fashion Agenda, focusing on sustainability.
“It was a time when sustainability discussions in the fashion space were still nascent. Being part of that and collaborating with industry leaders to set the sustainability agenda was truly exhilarating,” she expressed.
“Jewellery is inherently sustainable”
Finematter, a startup based in the United Kingdom, has carved a niche for itself by championing sustainability through the promotion of purchasing, repairing, remodeling, and recycling genuine jewellery.
Discussing the industry’s stance on sustainability, Chalmer noted, “There is a prevailing awareness surrounding sustainability and conscious consumption, permeating various consumer sectors, including jewellery.”
She emphasized the unique sustainability aspect of jewellery, stating, “I realized that jewellery is truly the ultimate circular product because it’s crafted from metals and gemstones that endure through time.”
Chalmer pointed out that consumers, especially the younger demographic, are increasingly curious about the sourcing and manufacturing processes of jewellery. “We’re witnessing a surge in curiosity about material origins and craftsmanship from consumers,” she added.
“Jewellery is inherently sustainable because individuals aspire to acquire a timeless piece that symbolizes significant life events,” Chalmer concluded.
In a recent development, Finematter disclosed a successful fundraising round of €2.6 million from investors to bolster the growth of the circular jewellery economy.
As reported by Tech.eu’s Cate Lawrence last month, jewellery transacted through the Finematter platform receives a digital certificate offering a comprehensive life-cycle history, facilitating the realization of circularity.
