I Invested £4000 In Jewellery Business After Redundancy - Now Selfridges Love Us
- Andrew, 57, decided to launch his own business after being made redundant
- He pooled £4000 with his business partner Narena to get started
- Selfridges and John Lewis were quickly interested in the jewellery
- Now Otis Jaxon has a physical presence in London as well as online
Being made redundant can easily lead to feeling unmotivated, but one entrepreneur turned his situation around and built a thriving business which got big names like Selfridges and John Lewis interested pretty early on.
Andrew Robinson, 57 from South West London who has two children aged 22 and 18, told money-saving community LatestDeals.co.uk: ‘I started my career in apparel, and having been made redundant in the 80s one time too many, decided to start a jewellery business with my current business partner, Narena Kohli.
‘At the time - the early 90s - there were far fewer independent jewellery brands present in the UK, and we felt that there was an opportunity for us to bring unusual and different jewellery to the UK marketplace.
‘We pooled our funds of £4000 and created a sample collection, then booked a single trade show in London called Top Drawer.
‘On the first day we sold to a number of UK department stores including Selfridges and John Lewis, and so we were in business!
‘The next big event was joining Etsy around 10 years ago, which opened up new international marketplaces. It also allowed us to discover an audience who really appreciated our innovation and unusual styling.’
It wasn’t all plain sailing for the brand, though. ‘Communication with our suppliers in the early days was very difficult as the internet was in its infancy. We used faxes and the phone, but getting production correct required a lot of travelling and work to maintain quality control and develop new ranges and styles, and find quality components for our jewellery.
‘Being made redundant made the decision to start my own business easier, but turning my back on a steady and reliable 9-5 job was a tough call to make.
‘However, both myself and my business partner came from families with a history of entrepreneurship, and their support helped make the decision easier.’
Passion is key for driving Andrew forwards. ‘I love selling tangible products, and presenting and selling jewellery to a predominantly female audience is a dream.
‘Whether consumers or retailers, all women have an opinion on the jewellery they love and wear, and as we were bringing some genuinely new types of earrings and jewellery to the market, their enthusiasm and financial support in buying our ranges completed the circle of satisfaction.’
Andrew reveals that financial growth hasn’t always been steady. ‘Over our 20 years in business we've seen quite a few recessions come and go. It did affect material prices and consumer confidence quite considerably and lead to a temporary decline in orders.
‘However we tackle these factors by trying to keep our overheads under control. We keep doing what we know we're good at - designing new jewellery - and we always redouble our efforts to reach new audiences. In short, when the going gets tough, the tough get going.
‘Brexit similarly made international business much harder, and definitely had an impact on the level of European orders we received.
‘In fairness to Etsy, though, they quickly introduced solutions which made exporting to Europe far easier for their partners. That being said, it has reduced the confidence European based customers have with placing orders with UK based companies.
‘We were fortunate that business picked up relatively quickly. As consumer confidence grew after each recession we saw sales return to normal levels.
‘The impact of Brexit has subsided, but there are still some issues when sending orders to individuals in some EU territories, and these are issues we're still looking at solving.
‘Sales by volume has remained relatively constant, but we've seen more orders being placed for expensive styles, and also for price pointed styles, suggesting that the squeezed middle are feeling the most strain from the current cost of living crisis.’
Now Otis Jaxon has come a long way from their small beginnings, where the company operated from Andrew’s home. They have enjoyed a 600% increase in turnover from their first year’s trading, and they have a physical as well as online presence.
‘We've now got a small office in South West London where we run the marketing and sales aspects of our business. There are also three workshops which sample, manufacture and finish our jewellery.’
Andrew shares his top advice for other business owners, or those aspiring to get started: ‘The old adage of 'planning prevents poor performance' still applies. If you've an idea you think is viable, ask as many people as possible and find out what they think.
‘Research online and find out how good your competition is and where they sell. Then decide whether you're going to start selling face to face - at shows and events for example - online, or to other retailers who will resell your products.
‘Always keep an eye on your cash flow and plan pessimistically rather than optimistically. And remember, good imagery is essential to selling online.’
Tom Church, Co-Founder of LatestDeals.co.uk, said: ‘It’s really interesting to hear Andrew’s story - I’m pretty sure I have bought some Otis Jaxon jewellery for my partner before!
‘In a world where being digital feels like the priority, it’s easy to forget that businesses can benefit greatly from getting out there and meeting with customers and buyers face to face.’
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