In the heart of Paris, under the iconic Eiffel Tower, fashion enthusiasts gathered for a unique event that showcased not just clothing but also a significant shift in an ancient institution. The Royal Mint, a 1,138-year-old British coin manufacturer, made its debut on the runway with a collection of sustainable jewelry. This move marked a critical step in the company’s diversification strategy as it adapts to a world where cash usage is declining. Anne Jessopp, the visionary CEO, spearheaded this innovative venture, transforming the historic mint into a pioneer in sustainable luxury goods.
From Coins to Catwalks: The Royal Mint's Transformation
During the golden hues of September, the Avenue de Saxe in Paris hosted an extraordinary runway show. Among the audience were fashion icons like Anna Wintour and Tom Daley, who witnessed the unveiling of Stella McCartney’s summer 2025 collection. However, the spotlight also shone on the Royal Mint, which presented an exclusive line of recycled gold jewelry. The collection, crafted by expert artisans in Llantrisant, south Wales, included necklaces, buttons, and even a conceptual bra, all part of the new 886 jewelry line.
The journey to this moment was no small feat. Jessopp, appointed CEO in 2018, had been preparing for months. Her team spent over 600 hours meticulously crafting nearly 100 pieces, each embodying the mint’s commitment to sustainability. This initiative aligns with the broader strategy to diversify revenue streams as the demand for circulating coins declines. The pandemic accelerated this trend, leading to a £13m annual loss in the coin business. In response, the Royal Mint has ventured into commemorative coins, gold investments, and now, sustainable jewelry.
A pivotal development came in August when Jessopp unveiled a pioneering factory in south Wales. This facility recovers gold from electronic waste, using advanced chemistry developed by Excir, a Canadian clean technology firm. With the capacity to process up to 4,000 tonnes of circuit boards annually, the factory promises a sustainable source of precious metals. Moreover, the Royal Mint now holds international licenses to replicate this recycling model globally, positioning itself at the forefront of a new industry.
The 886 jewelry line, launched in 2022, has already attracted celebrity customers such as Cate Blanchett and James Blake. The brand aims to achieve profitability by next year, contributing significantly to the company’s future profits. Jessopp envisions these new ventures making up about 40% of the Royal Mint’s earnings in the long term, ensuring its relevance in a rapidly changing economic landscape.
From its humble beginnings in London in 886 to its current headquarters in Llantrisant, the Royal Mint continues to evolve. Under Jessopp’s leadership, the institution is not just surviving but thriving, embracing innovation and sustainability.
This transformation offers valuable insights for other long-standing institutions facing similar challenges. It underscores the importance of adaptability and forward-thinking strategies. By exploring new markets and leveraging cutting-edge technologies, the Royal Mint demonstrates that tradition and innovation can coexist harmoniously. As we witness the mint’s journey from coins to catwalks, it becomes clear that embracing change is key to staying relevant in today’s dynamic world.