Premium Jewelry; a rising business
Oppressive data shows that sales in “Premium jewelry” and “fashion jewelry” will reach $250,000 million in the year 2020.
The global jewelry sector is one of the most thriving sectors, even during crisis. Even though it is true that less “important pieces” houses have been sold, during the last years, infinite Premium brands have emerged, which united to clothing, have bet for accessories or have simply dedicated to premium jewelry. On a larger scale, silver and 14-kilate or 18-kilate gold, using semiprecious stones, and a step ahead of luxurious imitation jewelry.
Defines by McKinsey, “fast-fashion” has arrived to jewelry shops, and looks like it will be around for a long time. Oppressive data shows that sales in “Premium jewelry” and “fashion jewelry” will reach $250,000 million in the year 2020. In 2014, the sector reached sales of $148,000 million, and has maintained a stable growth rate between 5 and 6%. From this total, experts believe “fashion jewelry is the one growing at annual rates in sales of 6%, and the reason is not only the prize, but also relies on the Internet». The fact that these brands – which are not Cartier, Harry Winston, or Chopard – have reached the online “world” way earlier than traditional brands, has allowed them to, not only gain market share, but also be able to launch their “more luxurious” collections at higher prizes, selling them only because there is a trusting relationship between the brands and the customer.
In Spain, there are various brands starting to expand at a fast pace, and which are starting to be more famous worldwide. OhMyGod! is Nicol’s premium jewelry line. It emerged in response to young, fun woman who wants to wear seasonal jewelry without losing the quality of the design or materials. They had exit from the start and their creative director, Patricia Nicolás (who resides in London) designed Boho-chic, big jewelry pieces with different colors and the newest materials.
«With Oh My God! We intend to respond to a need for young women who do not want to spend too much money in expensive jewelry, but do not want to give up wearing fashionable and unique accessories», says Daniel Nicholas, director of the company. The gold, silver, precious stones, pearls and other more innovative materials such as velvet or rock crystal is a «must» in each of their collections.
«Animal Obsession» contains pieces inspired by all kinds of animals, full of art, color and creativity. The «Bloom Floral» collection is for those who prefer flowers with amazing hand-carved rings in rose quartz and aventurine green. Also, the «Antique Diamonds» collection redesigns antique jewelry designs sold worldwide.
Unode50 is another of the Spanish jewelry signatures that took the risk of beginning with this type of jewelry. Silver was its identity signal from birth and their expansion is unstoppable. Even in Boston, Unode50 established a store in the legendary Faneuil Hall. Unode50, born in the late 90s thanks to a creative team, who decided to create a style of jewelry that contrasted with everything that existed at that time. The brand began with the unique philosophy of creating 50 units of each design, hence its name. The development of each design is a unique process in the world of fine jewelry. The whole process (product design, modeling, casting, bathrooms, assembly and handling) is entirely made in Spain.
Aristocrazy is the third of the big Spanish brands, and the Suarez family is one of the families creating a family jewelry tradition in Spain. In 2010, the family saw an opportunity, niche, and possibility to launch a «Premium» line without losing the essence of the design. They created the concept of creating jewelry as a fashion accessory, designed to be included in the circuits of purchases of major cities and with a clear international vocation. Its aim is to become fashionable in themselves, joining national and international designers. They jewelry can be described as high-end jewelry at affordable prices.
Popular in Europe and after making a great investment for an advertising campaign in Spain, the Greek firm Follie Follie has been created in the last couple of years as an empire that has managed to diversify jewelry and accessories and create a new lifestyle. Queen Letizia from Spain is a fan of Follie Follie, and also from Mango jewelry accessories, and other firms that national and international fashion opting for affordable jewelry as a business unit which has been one of the fastest growing sectors in the last year.
In the United States, Guess launched its collection Guess Jewelry, decorated with Swarovski crystals, an undisputed symbol of refinement and quality. Guess seeks an attractive line for all ages with styles more «look of real» and «yewel box», such as the Jasmine line, which makes patterns that relate to Arab palaces. According to Carlos Montes de Oca, marketing manager of the unit of the Californian brand jewelry; «Our goal is to create and reflect our desire to stay ahead of the market. As a global player in the fashion jewelry field, we are working with the most experienced and advanced industries; always looking to improve the quality of our products».
Disclosure: The author is not responsible for the views expressed in the article. The text has been written freely expressing ideas, without receiving any compensation. The author has no business relationship with any of the companies whose shares are listed in this article.