LONDON – Having just gone public last month, Mene Inc., the online fine jeweler, is on the prowl for new opportunities and has hired the London-based Savigny Partners LLP to help. An announcement is expected today.
Mene, which listed on the Toronto Stock Exchange in November, specializes in 24-karat gold and platinum jewelry that is sold by gram weight. Mene.com gives customers the chance to buy jewelry, monitor the value of their collections over time, and sell or exchange their pieces by gram weight at market prices.
Founded by Roy Sebag and Diana Widmaier-Picasso, the company said its mission is to “restore the relationship between jewelry and savings.” The second-hand market for fine jewelry can be tricky for those who want to sell, and marquee brand names often add little to the value of the metal or the stones.
Mene said it wants to “empower consumers” by marrying innovative technology, timeless design, and pure precious metals to create pieces that endure as “a store of value.”
The London-based Savigny Partners LLP, is a financial advisory firm that specializes in luxury and premium brands. It said it will advise Mene on defining long-term financial and strategic objectives, brand positioning, and potential future partnerships.
“We look forward to working with the Mene team and are impressed by Roy Sebag’s entrepreneurial achievements as well as Diana Widmaier-Picasso’s brand vision,” said Ludovic Grandchamp, partner at Savigny.
“Mene has a great track record of meaningfully communicating with its growing customer base through an agile use of digital tools. With sales exceeding $7 million after just over six months since launch and already over 10,000 direct-to-consumer orders, the firm is poised to disrupt the $200 billion jewelry industry.”
Sebag, whose title is chief executive officer, said Grandchamp would join the advisory board. He said they want to think about the long-term.
“While Mene is witnessing accelerated growth and consumer adoption, it is important to balance our entrepreneurial spirit by collaborating with partners who understand the long-term outlook required when building a luxury brand,” he said.
“Ludovic and the rest of the Savigny Partners team have been involved in industry-leading M&A transactions, and we are fortunate to benefit from their experience as we navigate these important early years.”
Savigny Partners is a mergers and acquisitions advisory firm based in London and specialized in luxury and premium brands. The firm and its partners have advised brands including Benefit Cosmetics, Delvaux, Le Labo, Tom Dixon and LVMH Moet Hennessy Louis Vuitton.