Risk warning (CSF): Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures, and investment is speculative. You may lose your entire investment and should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment could be reduced if the company issues more shares. Your investment is unlikely to be liquid. Ask questions, read all the information given carefully, and seek independent financial advice before committing to any investment.
So, what is Covetear?
We're a premium ear-piercing and fine jewellery brand, and the first to lead with piercing authority and build the fine jewellery brand from there, the reverse of the traditional jeweller's path. We pierce with precision and we design the jewellery that goes in: solid 14k gold and lab-grown diamonds, made to be worn, stacked and added to over a lifetime. We operate four studios across Sydney, Brisbane, the Gold Coast and Melbourne, plus an online store with a growing global customer base. Since launch we've served more than 6,500 customers and hold a 4.95-star average across 700-plus reviews.
Why are you raising, and why now?
We've built the model and it works. This raise is about doing more of what's already working. We're raising to open more studios in high-street destination precincts, grow our online channel, make our first senior operational hires, and cement Covetear as the premium name in the category. We're at the point where demand is running ahead of our footprint, and capital lets us close that gap.
What will the money actually be used for?
New studios in destination precincts, scaling the online jewellery business, and building the operational bench to run a national multi-studio network without over-relying on me as founder. The full use-of-funds detail is in our offer document on Birchal.
What's the valuation, and how did you land on it?
The valuation and share price for this round are set out in full in our offer document on Birchal. I've been deliberate about not overreaching. I'd rather set a valuation we can clearly grow into than inflate it and disappoint later.
How is the business actually performing?
Strong, and the profile sets it out in detail. Sales are up 97% year on year, we've generated $2.5M in revenue since launching in 2023, and 45% of customers come back (one in ten place three or more orders). Our jewellery gross margin is 67%, around 68% blended in-studio, and our Sydney studio reached payback in roughly eight months. All of this is in our offer document on Birchal, which is the right place to weigh it up properly and in context.
Isn't piercing and jewellery a crowded market?
It's a large and fragmented one, worth around $5.9 billion in Australia (IBISWorld, Australian Jewellery Retailing, 2025). It's also shifting in our favour, away from one-off luxury and toward design-led, ethical, everyday pieces people buy as personal expression. The category is proving it can scale and attract capital too: SkinKandy listed on the ASX in May 2026 (ASX: SK1). We sit at a higher-value, fine-jewellery-led point in the same category, with an in-store average order value of $380. Internationally, brands like Studs, Rowan and Astrid & Miyu have built the model at scale, and no Australian brand has yet claimed the premium end of it. That's the gap we're built for.
Everyone's talking about AI. Where does that fit for you?
Behind the brand is a lean in-house team, with a modern, AI-enabled approach that lets a small team produce the output of a much larger one and keeps headcount efficient as we scale. But I'm clear about where it stops. You can't automate a piercing, and you can't automate the moment someone marks a milestone or a new chapter in our chair. AI makes the business run better behind the scenes so our people can focus on the part that can't be automated.
What's the minimum investment, and what do I get?
The minimum investment is $250. You're buying equity in the company, which means you own a share of what we build from here. The full terms, share class and rights are set out in the offer document on Birchal.
What are the risks?
Covetear is an early-stage retail business in a discretionary spending category, and this isn't a guaranteed return. The main risks include consumer spending, exposure to gold and input costs, competition, the execution and working-capital demands of a multi-studio rollout, reliance on a lean founder-led team, and access to future capital. We set out how we manage each in the offer document, and the list there isn't exhaustive. Please read the full offer document before investing, and only invest money you can afford to have tied up for the long term.
Why Birchal, and why bring in the crowd rather than one big investor?
Because our customers are our best investors. The people who love Covetear are exactly the people I want owning a piece of it. Equity crowdfunding lets our community come along for the growth, not just watch it.
How can I ask you more?
Register for our upcoming investor webinar through the Birchal page, grab a time with me directly [booking link], or just reply to this message. I'm happy to talk it through.
This is general information only and not financial advice. Consider the offer document and your own circumstances before investing.