Gateshead Watchmaker Aims for World-Class Workshop After Securing Investment
Richard Rigg, founder of Rigga Repairs Ltd, is setting his sights on creating a world-class watchmaking workshop in Gateshead following a significant five-figure loan injection. The investment, secured through the Start Up Loans programme and Business Enterprise Fund (BEF) North East, will fuel the expansion of his 18-month-old business, which specializes in servicing luxury timepieces.
Decades of Expertise in Luxury Watch Brands
With over 20 years of experience working for industry giants like Rolex, Cartier, Breitling, TAG Heuer, OMEGA, Tissot, and Longines, Mr. Rigg has built a reputation for excellence. His career began in a family tradition of watchmaking, drawing inspiration from his brother, who serves as head watchmaker at a renowned global brand. While his brother splits time between London and Geneva, Mr. Rigg has remained rooted in the North East, channeling his expertise into Rigga Repairs Ltd since its establishment in early 2024.
Investment Fuels Expansion Plans
The five-figure sum from the British Business Bank’s Start Up Loans programme, delivered locally by BEF North East, provides the working capital needed for growth. Mr. Rigg is actively searching for new premises, aiming to design a workshop that meets the exacting standards of Geneva’s master watchmakers. This facility would allow him to offer high-quality repairs at about half the cost of retail services, making luxury watch maintenance more accessible to owners who might otherwise store their timepieces unused.
Support and Vision for the Future
Mr. Rigg praised the phenomenal support for start-ups in the North East, noting that while initial assistance came from his professional network, the financial backing from BEF was crucial. He described the loan process as seamless and recommended it to other entrepreneurs. Shannon Donaghy, associate investment manager at BEF North East, highlighted the intricate nature of Mr. Rigg’s business and expressed pride in supporting one of the region’s true craftsmen. With this investment, Rigga Repairs Ltd is poised to elevate watchmaking services in the area, combining world-class standards with local affordability.
