Written by Yuxuan Li
2021 ESCP BIM student, lived in Paris/Beijing/Chengdu, studied at Tsinghua University, experiences with Digital and Content marketing, interested in Cultural and Entertainment VC.
The value of jewelry raw materials will become highly valuable work after the designers have expressed their exploration of the possibility of jewelry design in their creative language, which lies in the irreproducible original concept. The future growth in branded jewelry is likely to come from nonjewelry players in adjacent categories such as high-end companies like Dior, Hermès, and Louis Vuitton—introducing jewelry collections or expanding their assortment.
Every jewelry company should seek to strengthen and differentiate its brands through unique, distinctive designs. The trend toward branded jewelry will be especially hard on small artisans, who don’t have the marketing muscle of the large jewelry groups. Here we list partial insights about the financial behalfs of the jewelry to inspire the marketer.
The fastest recognized symbol: to communicate the wearer’s social class, aesthetic orientation, and demonstrate important personal characteristics. Here we have three kinds of consumers:
- “new money” consumers who wear branded jewelry to show off their newly acquired wealth (in contrast to “old money” consumers, who prefer heirlooms or estate jewelry)
- emerging-market consumers, for whom established brands inspire trust and the sense of an upgraded lifestyle—a purchasing factor quoted by 80 percent of our interviewee’s
- young consumers who turn to brands as a means of self-expression and self-realization
Exchange and Inclusive
(From left to right and below: Olaf; Mermaid;Miss Universe—Cultural landscape and various trends )
The expression of jewelry is closely related to the development of art and culture. Plenty of art forms are designed based on masterpieces and movies. It may be classic, or it may follow the trend. Italian jeweler Roberto Coin has just launched a new season of jewelry series-“Frozen II”, inspired by the American animated film “Frozen 2” released in 2019. Designers capture iconic elements in the film, such as wheatears, snowflakes, ice crystals, reindeer, etc., to create a romantic winter atmosphere, and the playful image of the snowman-Olaf is also vividly interpreted. An American jeweler, a [Splash] series launched by Brent Neale, was inspired by [Birth of Venus] in Renaissance and another series [Mermaid], inspired by 1984 American movie. Just on December 9, 2019, the annual Miss Universe ended in Atlanta, USA. The crown of this competition-“power of unity”-is inspired by its themes: nature, power, beauty, femininity, and community. Implied a bond between female groups around the world. The value of jewelry not only lies in its beautiful decoration, but also in different cultures and information that are embraced and blended by this beauty and its quality, and this also greatly affects the different meaning and value of the same jewelry to different people.
Reconfiguration of the jewelry industry
As the internet is getting more common and online shopping is acceptable across worldwide, the digital trend has been doubling or multiplexing the consumer costs during the past decades. For fine jewelry, the online figure could account for 10% which suggests for most rational consumers they prefer to touch and feel the merchandise and thus, they have a large probability to choose the brick-and-mortar stores rather than believing the virtual economy benefits. As for fashion jewelry, this category could be a higher online share of sales, in the neighborhood of 10 to 15 percent by 2020. The majority of these sales will come from affordable branded jewelry, given the fact that the price of jewelry is falling and becoming cheaper, a standardized product segment in which consumers know exactly what they’re getting.
The offline sale is evolving as well. Take Tiffany & Co as an oft-cited example, the company recently in Shanghai, China reopened its Hong Kong Plaza flagship on December 19th, allowing for a much-broader presentation of the luxury brand. Therefore, it became the largest Tiffany flagship in Asia and a third The Tiffany Blue Box Cafe after New York and Hong Kong. With the smart brand strategy, more and more jewelry companies are considering the optimum method to boom the customer-experience and stimulate their market groups to grow while also more consolidated for a whole brand image.
The value of jewelry as a collectible is also different depending on people and events. Jewelry with a “story” or with a “celebrity effect” could have collectible value. This value is mainly defined by two aspects— on the one hand, its investment potential prospect, and on the other hand, the personal preference. Let’s look at two examples first.
In 1914, the pearl tear crown created by Queen Mary’s order to a jeweler was named “The Cambridge Lover’s Knot Tiara”, because the pearl inlaid on the crown looks like a woman’s teardrop, and it is also called “pearl tears”. On July 29, 1981, Prince Charles and Diana held a grand wedding in Buckingham Palace. At the ceremony, Queen Elizabeth II gave the crown of “Pearl Tears” to Princess Diana of Wales. But according to a legend, any woman with “pearl tears” will not have a good emotional end. A series of facts after Diana’s marriage seemed to verify the legend. Diana’s marriage with Charles was full of pain and tears from the beginning, and finally, Diana died unexpectedly. “The Cambridge Lover’s Knot Tiara” is famous for its owner and the stories that follow. Although there is no exact valuation, the value of the jewelry belonging to the British royal family is immeasurable.
The “Queen Mary Pearl Pendant”, which originated from natural pearls and diamond pendants of the 18th century, originally belonged to the queen of the French King Louis XVI, Marie Antoinette, and was sold at the auction in Geneva, Switzerland for $ 36 million in 2018, breaking the Roamer Pearl holds a record of pearl auctions for 7 years.
Unlike the NBA championship rings or jewelry presented to young women at grand dances, jewelry as collections will become more valuable after a certain period of precipitation and fermentation of the event. Value is influenced by the market but independent of its special significance. Demand for bespoke pieces has risen significantly over recent years and now stands for a 40% market share of engagement. The places clothing brands that have turned to collections at a disadvantage because they tend to only offer off the shelf items and lack the experience of traditional jewelry manufacturers. What you could find in Exjewel is that we provide with better price strategy for future collections as brands and use the scalable tools for auction houses.
2019 Best global jewelry brands rankings:
No.17 Louis Vuitton(change in brand value +14%; 32,376$m);
No.22 Chanel(change in brand value +11%; 22,134$m);
No.28 Hermes (change in brand value +9%; 17,920$m);
No.33 Gucci (change in brand value +23%; 15,949$m);
No.68 Cartier(change in brand value +7%; 8,192$m);
No.82 Dior (change in brand value +16%; 6,045$m);
No.94 Tiffany& Co(change in brand value -5%; 5,335$m);
No.96 Burberry(change in brand value +4%; 5,205$m);
No.100 Parad(change in brand value -1%; 4,781$m)
Does the cheaper jewelry a good sign for the market?
Be sensitive and flexible to the changing market is essential for the diamond traders. While now for the market, it’s been an oversupply of rough diamonds, in particular for smaller gems. Retailers tend to hold less inventory, forcing suppliers to keep more stock at a time that prices are falling. Banks have also been abandoning the sector, cutting off credit to an industry that has grown accustomed to cheap money. De Beers has offered its buyers more flexibility around their purchases, but it hasn’t been enough and sales this year have slumped. In one sense, De Beers’ fate is tied to polished prices. (Abstract from Bloomberg)
Here in ExJewel, we offer a 70% cheaper price than a traditional package for each need and this brings convenience for the vintage stores and practical for bloggers. For the normal consumers and take jewelry as part of their life, the cheaper trend would make it more accessible, from the producer side, it’s time and stimulation for them to consider their value and tactics during the tide.
https://www.bloomberg.com/professional/blog/just-big-art-market-leaders-serious-numbers-crunching/ a multifaceted future: jewelry industry in 2020
https://www.anythingresearch.com/industry/Jewelry-Stores.htm auction sales decline