// SecretSales founder Sach Kukadia has launched a new disruptor jewellery brand, 7879, which allows shoppers to sell products back to the retailer at their current market rate
// 7879 has made its debut in Selfridges’ ‘The Supermarket’ concept, which re-imagines an earth-conscious shop of the future
SecretSales founder Sach Kukadia has launched a jewellery resale business, 7879, which has made its debut at Selfridges’ ‘The Supermarket’ concept.
7879, which is named after the periodic table numbers for platinum and gold, sells jewellery made from recycled gold and responsibly mined platinum of the highest purity.
It has an “honest and transparent” pricing policy with items priced based on weight and the current market price.
The retailer allows shoppers to track the real-time value of their purchase and sell it back to 7879 when the price is right.
Kukadia, who is chief executive of 7879, has co-founded the venture with ex-Boston Consulting Group executive Ben Flowers.
The launch in Selfridges is part of the department store’s The Supermarket concept, which re-imagines an earth-conscious shop of the future.
The Supermarket is a “four-week retail experiment”, according to the department store, which brings together innovative established names and start-up brands.
Customers will be able to explore 3D printing robots that create everything from plant-based steaks to lightweight handbags and recycled plastic furniture on demand, and NFT artworks that are available to purchase in store.
READ MORE: Secret Sales aims to become “largest marketplace” as it signs 75 new retailers
Kukadia said: “We are offering the highest possible quality gold and platinum. Our jewellery is made using the same purity as investment bullion while our prices fluctuate to reflect the precise values of platinum and gold, as driven in real time by the international bullion markets.
“What sets 7879 apart is our commitment to make the highest quality jewellery affordable to a wider pool of consumers by only applying a transparent 30% craftsmanship fee to each item you buy.”
Flowers, who is chief technology officer of 7879, added: “Jewellery will always be an emotion-led purchase. We offer a unique way to enjoy jewellery, whilst also benefitting from the potential investment upside of precious metals.
“When you’ve had all the enjoyment from a piece, feel that it is time for something new, or simply that the price is just too good, 7879 guarantees to buy back your piece based upon the prevailing market price”.
Kukadia co-founded SecretSales with his brother Nish and scaled the business with the backing of venture capital investors, including Partech and Doughty Hansen. It achieved sales of £50 million and grew to a team of 150 within eight years, before Kukadia sold the business.
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