New Zealand love story

When you’re a fast-growing business in an ultracompetitive and established market, keeping track of your cashflow is vital. Xero helps Naveya & Sloane do just that.

THE CONNECTION BETWEEN fashion and jewellery is an obvious one. What’s not quite as obvious is the leap from designing clothing for Kiwi brand Huffer to starting your own luxury jewellery company.

But that’s exactly what Rachel Sloane, creator of Naveya & Sloane, achieved in 2010 with the help of her partner and co-founder, Alex Bunnett.

Their company custom designs jewellery for those wanting something timeless and authentic that’s created through a friendly and collaborative approach.

“Part of the reason we’ve been successful is we’ve taken a fresh new look at what fine jewellery should be and tried to take it from something that some see as conceited or a bit intimidating to something that’s a really enjoyable experience,” says Bunnett.

“Our model is quite different to what’s traditional for jewellery. We don’t have lots of rings in display cabinets; we offer predominantly a bespoke service.”

While most of Naveya & Sloane’s customers are local, Bunnett says the company has a growing offshore clientele. Many are either expats living abroad or they have a Kiwi partner.

“They want to work with a New Zealand company to create something special. We contact them via email, phone or Skype to understand what they want and work with them to help them design their ring. Once they’re happy, we craft it for them and send it over. It’s quite straightforward.”

The company has been exporting since it began. And while export is still a small part of the business, it’s a growing area. Naveya & Sloane’s biggest export market is Australia, but it also has customers in the UK, North America and Europe. Its jewellery is even available duty free, so customers can collect their ring when heading away on an overseas holiday.

“From the outset we always had ambitions to go offshore with our product, and after five years of refining our processes, we are now in the early stages of planning our first overseas boutique,” says Bunnett.

Naveya & Sloane now has 14 staff working from its showroom and workshop on Auckland’s Queen Street. In addition to its international plans, the company will also be expanding and refurbishing in 2015.

While their brand is about beautiful bespoke jewellery, robust business practices are also essential. Sloane is the creative force behind the company, but as managing director, Bunnett takes care of marketing, finances and business strategy.

“We’re 100% self funded. We started with nothing. We sold our cars, furniture, even my skateboard, to help fund the business and we continue to invest everything back into it, so it’s crucial to manage that well.”

Naveya & Sloane has been using Xero accounting software from the outset. Bunnett sought recommendations from others and says Xero was a name that frequently came up.

“Using Xero has been so straightforward,” he says. “A critical area where it’s helped us is in seamlessly integrating with our other software packages. That flexibility of having Xero bolt onto other task-specific software is