Rigga Repairs’ founder spent more than 20 years working for some of the biggest luxury watch brands in the world
Shannon Donaghy of BEF North East with Richard Rigg of Rigga Repairs(Image: BEF North East)
A Gateshead watchmaker hopes to create a world-class workshop after tapping into five-figure investment to help his start-up grow. Richard Rigg is giving some of the most luxurious timepieces in existence a new lease of life through Rigga Repairs Ltd – the business he launched 18 months ago after spending his entire career working for the biggest brands in the industry, including Rolex, Cartier, Breitling, TAG Heuer, OMEGA, Tissot and Longines.
Watchmaking has always been a family business, and Mr Rigg says he draws inspiration from his brother, who is head watchmaker at a world famous watch brand. While his brother splits time between London and Geneva, Mr Rigg has stayed in the North East and spent over 20 years working with industry leading brands.
In early 2024, he channelled his expertise into establishing Rigga Repairs Ltd, and he is now putting expansion plans into action with a five-figure sum from the Start Up Loans programme and Business Enterprise Fund (BEF) North East. The British Business Bank’s Start Up Loans programme is delivered in the North East by BEF.
He is now on the hunt for new premises and says the right location could let him design a world-class workshop. He says a workshop could be built to the same specifications used by Geneva’s master watchmakers, right here in the North East.
Richard Rigg of Rigga Repairs(Image: BEF North East)
He said: “When I started the business, I left it open to everything. I was free to work on any brand. For people who otherwise can’t afford to get their watch serviced. They’d just put it in a drawer or lock it in a safe. They’re not wearing it or enjoying it. That’s where I come in. Because I can do it on average for about half the cost of having it done at retail.
“The support in the North East is phenomenal for people starting their own business. But I was mainly relying on my network of watchmakers I’ve known since I was a child. Not much of the support I got was financial, until I met BEF.”
After 18 months, he realised he needed to invest in his business. On any given morning, he might suddenly need to order a component worth hundreds of pounds, so further working capital was needed.
He said: “I found it quite seamless, and I recommend it to anyone who’s starting up their own business but hasn’t looked at finance.”
Shannon Donaghy, associate investment manager at BEF North East, added: “Richard is running an incredibly intricate business. We were able to provide the working capital he needed to continue operating with absolute confidence.
“It has been highly rewarding to work with Rigga Repairs Ltd and secure this loan. Richard is one of the region’s true craftsmen.”
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