Lily Arkwright: a perfect time for engagements

What have Lily’s Arkwright’s sales looked like so far this year?

As we continue to execute our five-year strategy, we are pleased with the brilliant sales results we have seen. With the wedding industry booming this year, it is fantastic to see the results we have achieved off the back of this.

What have been some of the company’s highlights in 2022?

It has been amazing to see our growth over the past year and to continue as a leading ethical jewellery retailer. The launch of our updated website earlier this year as well as imminent EU expansion and London showroom plans being well underway have made it a very exciting time for us all at Lily Arkwright, and we can’t wait to share our new plans with our customers.

What factors have led to a 73% rise in engagement ring sales in the first week of August? 

In comparison to last August which was a complete washout, we believe the lovely weather that has been with us for some time has caused sales to soar as couples prepare for proposals in the sunshine. With the rest of August due to be sunny, it is the perfect time for engagements to take place without having to worry about the weather.

What time of year are engagement ring sales usually at their highest?

We often see a spike in sales in late November as many couples like to prepare for proposals over the festive period. With this being a particularly popular time for proposals, combined with Black Friday sales towards the end of November, we have previously seen sales soar by 63% in November as many people prepare for romantic winter proposals and combine this with great savings on the perfect engagement ring.

Do you expect to see this trend continue?

Absolutely, December has always been a peak month for proposals and this is not expected to change. Christmas Eve and Christmas Day are incredibly popular days to propose as it is often the perfect gift for a festive period to remember.

In comparison to Valentine’s Day, which we have seen a decline in popularity as many view this as a predictable time to propose, Christmas proposals have kept an element of surprise.

Which type/style of engagement rings are most popular?

Generally, we see an even mix between lab diamond, moissanite and coloured gemstones. As for the most part, this is entirely down to personal preference and many customers do not follow trends in this case. This year we have certainly seen a rise in interest for more upmarket cuts as oval stones have been particularly popular.

What has led to a rise in interest for more upmarket cuts?

Consumers, especially millennials, have been really receptive to fancy cuts over the last 12 months. I think it’s really having the confidence to wear a piece that is a little bit different and reflects your personality such as oval and radiant cuts.

Have any other jewellery categories also seen a rise in sales?

Timeless pieces such as earrings and tennis bracelets continue to be popular purchases throughout the year. As sought-after gifts, the sales for these items rise again in the run-up to Christmas and Valentines day.

Are there any particular collections by Lily Arkwright or types of rings which are attracting the highest interest?

Absolutely, our lab-grown, coloured gemstone collections have been hugely popular this year. This really builds on my previous point about consumers wanting a ring that really shows off their personality and having the freedom to express themselves.

What other trends are you witnessing in the jewellery industry?

Since founding Lily Arkwright, we have been banging the drum on the huge move away from mined diamonds to lab-grown alternatives. As many come to realise the similarity between lab-grown diamonds and mined diamonds, as well as the fact they are graded and certified by the same internationally recognised governing bodies, we are expecting preference for lab-grown diamonds to accelerate over the next decade along with the worldwide push for sustainability.

What do Lily Arkwright’s EU expansion plans entail, and how do you expect these new stores to trade in the first year of opening?

We’re tremendously excited about our expansion plans into Europe; we have a loyal customer base throughout Europe and one that we’re really keen to nurture and grow in the years ahead. We’re currently finalising plans for our first EU office and will be able to provide further details in the months ahead about this exciting new chapter for Lily Arkwright.

What is next for Lily Arkwright?

It is a really exciting time for the team here at Lily Arkwright as weddings are back in full swing this year, and there is an increasing focus on sustainability from many consumers. In the upcoming months, we have many plans to grow our brands including a HQ office move, opening a London showroom and expanding into the EU market.

In the midst of all of these plans, we consistently work to ensure we have the finest ranges available to our customers and we’re proud to have recently launched several new collections such as the Hidden Halo and Statement Eternity collections.