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Revolutionizing jewelry: how Sach Kukadia’s 7879 brings resale equity to luxury buyers


By Gordon Young, Editor-in-Chief

July 3, 2024 | 7 min read

The entrepreneur, who founded the UK’s first flash sales website, is back, this time with a plan to turn jewelry into an appreciating asset.

Sach Kukadia

Sach Kukadia

Sach Kukadia, the brains behind Secret Sales and 7879, dropped a bombshell: 44% of luxury buyers expect to resell products at or above the price they paid. He told the Fashion E-commerce Summit in London that this dynamic is a key driver of luxury sales.

Jewelry, however, has always been the outlier, often reselling at just 20% of its purchase value. But Kukadia’s latest venture, 7879, is flipping the script, allowing buyers to turn jewelry into an appreciating asset rather than a depreciating liability.

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Kukadia’s entrepreneurial spark ignited early. “I started my first business at 22, six months out of university,” he recalls. “I had no experience but a lot of drive, influenced by my father, who was involved in various businesses.”

This early exposure paved the way for Secret Sales, a flash sales site that Kukadia co-founded. The company quickly grew, partnering with over 1,600 brands and employing 48 people. “We offered designer brands at significant discounts, creating an ‘EasyJet experience’ for high-end products. There were no frills – just great prices,” he explains.

The business proposition of offering luxury items at a discount without premium packaging or immediate delivery resonated with consumers, driving the company’s turnover to around £45m. Yet, it wasn’t all smooth sailing. “We made a lot of mistakes and learned the hard way, costing us a lot of money,” he admits.

Selling Secret Sales in 2017 to private equity was a tough decision, says the former Fashion Entrepreneur of the Year. “It was emotional to sell a business that was my baby.” While the exact figure wasn’t disclosed, the sale was significant given the scale and reach of the business. This experience armed him with lessons he’s now applying to 7879.

7879 isn’t your typical jewelry business; it’s revolutionizing how jewelry is valued and sold. Traditional jewelry resale has been inequitable, often fetching just a fraction of its value. “With 7879, we offer market value resale, ensuring customers can buy and sell pieces at the prevailing gold price,” Kukadia explains. The focus on gold and platinum lets customers wear and enjoy their investments rather than owning a certificate or lump of metal.

This fresh approach is a hit with younger buyers, who are savvy about investments and resale value, which explains why pre-loved and vintage is one of the fastest-growing parts of the fashion industry; “Younger generations want to know the value of what they own and how they can sell it if needed. This is why platforms like 7879 resonate so well.”

Kukadia’s marketing strategy for 7879 was shaped by his Secret Sales experience. He started small, using two-pound-a-day Facebook ads to understand customer preferences. “We wanted to understand what customers valued most – purity, sustainability, the ability to track and trade the jewelry in real-time,” he notes. This data-driven approach means 7879 is hitting the mark with its audience.

Transparency and education are at the heart of 7879’s marketing. Customers can track their jewelry’s value in real time, blending aesthetics with tangible investment. “For the first time, shopping for jewelry isn’t just about looks; it’s also about the real value of the metal,” says Kukadia. This perspective shift sets 7879 apart in the luxury market.

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Kukadia also sees broader shifts in e-commerce. “During Secret Sales’ peak, immediate gratification was key. Now, customers are more patient, willing to wait a few days for their orders,” he says. This change allows brands to focus more on quality and sustainability rather than just speed.

Today, Kukadia’s approach is all about sustainable growth and financial prudence. “In the past, we were constantly scaling and raising funds, which often led to financial strain,” he recalls. “With 7879, we’re focusing on sustainable growth without compromising on quality.” While 7879, employing nine people, isn’t yet profitable, it has only been two years since its launch and the potential is clear.

Kukadia’s journey from Secret Sales to 7879 is one of resilience and innovation. He’s adapted and evolved his strategies to meet market demands. “Marketing is a science,” he asserts. “Understanding customer acquisition costs and lifetime value is crucial.”

As Kukadia puts it: “You don’t need to be a jack of all trades when starting a business. Know your strengths, hire for your weaknesses and stay focused on what truly matters.”

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