The founder of North East luxury watch business Ellington Timepiece is putting the business up for sale to focus on raising awareness for mental health.
Teri Ellington created her own business with £80, a laptop and a wealth of ideas for affordable designer watches. Thanks to rising sales, she bought out her investors two years early.
Ms Ellington, 24, has also spoken openly about her struggle with mental health, having battled for years with anxiety and agoraphobia. It was only after learning coping mechanisms and seeking help through counselling that she was able to focus her energy on launching Ellington Timepiece from her bedroom.
Since launching the business she has made appearances at events to encourage other young entrepreneurs, while also promoting mental health issues.
Now Ms Ellington, whose business is based in Darlington and registered in Stockton, says it is the public speaking element of her career that she wants to focus on, having been invited to speak to young New Yorkers and universities in the 海角视频 to inspire others. This paves the way for a new owner to take on her firm.
She said: “I am looking to step down from the logistics side of the business and concentrate more on raising awareness for mental health through speaking at events and helping other start-ups to help show what can be achieved. And because of the firm’s backstory I would be open to continue to stay as the face of the brand.”
The business saw a big increase in sales from 2019 to 2020, and within the last six months the firm has almost matched 2020’s full year turnover, despite the current climate.
Her designer watch collections, which are sold through a website as well as in shops including House of Fraser, are also now being sold through Amazon and Ideal World.
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Ms Ellington, of Ingleby Barwick, said: “This growth has taken place without any paid marketing and only through organic purchases. In fact, sales in November and December saw an increase of 257%.
“I’m seeking the right investor to elevate the business to the next level through the correct management of the business’s logistics and day to day operations.
“Having grown to date with little to no marketing budget, the current success has been mostly down to word-of-mouth and local press coverage.
“To start the brand from nothing and see it where it is today is a thought I never would have had three years ago.
“I know the potential of the brand and this is where new investment would allow the brand to grow. I really want to take my passion and work down the route of being more involved with mental health and help other start-ups.”