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Jewelry Rental Company Raises $5M

Oct 16, 2017 7:15 AM   By Rapaport News
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RAPAPORT... Flont, which offers a jewelry-renting service, has raised $5 million from investors to grow its inventory and staff and help fund an expansion into the Chinese market.

The company describes itself as a pioneer of the “Jewelry as a Service” model, in which it lets consumers wear jewelry for a fee for a fixed period, or take out membership for unlimited rental.

“Borrowing incredible jewelry, and experiencing it first-hand, is the best way to discover brands and designers, while developing a lifelong affinity,” said Cormac Kinney, founder and CEO of Flont, in a statement last week. “Our members can enjoy unlimited jewelry, with the opportunity to purchase pieces they want to keep forever.”

The series-seed funding came from a group of investors including C Ventures, which media executive Clive Ng recently co-launched. Adrian Cheng, executive director of Hong Kong-based jeweler Chow Tai Fook, is in charge of the fund, which mainly invests in companies that focus on technology and alternative consumer models.

The company, founded in October 2016, carries more than 40 brands and has exclusive partnerships with 10 designers, it said.
Tags: Adrian Cheng, C Ventures, Cormac Kinney, Flont, jeweler Chow Tai Fook, Jewelry, Jewelry as a Service, Jewelry Rental, Rapaport News
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