Accessories that Dazzle: The Role of Jewelry in the Fashion World
Jewelry has been an integral part of fashion for centuries. From statement necklaces to delicate bracelets, jewelry has the power to elevate any outfit and express personal style. But have you ever wondered about the demand for jewelry companies and how to start a jewelry brand? In this article, we’ll explore the world of jewelry and provide practical tips for aspiring jewelry entrepreneurs. We’ll also analyze a successful jewelry brand, Marlo Laz, and learn from its founder and designer, Jesse Marlo Lazowski.
The Jewelry Business Landscape
According to a report by Vogue, the global jewelry market was valued at $278.5 billion in 2020 and is projected to reach $480.5 billion by 2028, growing at a CAGR of 7.1% from 2021 to 2028. This growth is driven by factors such as rising disposable incomes, changing fashion trends, and increasing demand for personalized jewelry. In addition, after the pandemic, there has been a shift toward online sales, making it easier for small jewelry brands to reach a global audience.
The Role of Jewelry In the Fashion Industry
Jewelry has always been a vital part of the fashion industry as the perfect finishing touch to any outfit and a fabulous way to express personality and style. Here are some ways jewelry adds value to the fashion industry:
Enhancing Beauty
Jewelry adds a sparkle to any outfit and can enhance the wearer’s beauty. A simple pair of earrings can make your face glow.
Expressing Style
Jewelry is a way to express your style and personality. You can wear dainty jewelry for a minimalist look, or you can go bold and wear statement pieces to make a statement.
Adding Value
Jewelry can also be a valuable investment. Fine jewelry, such as diamonds and gold, can hold its value and even appreciate over time.
Learn from Famous Jewelry Founders
Jesse Marlo Lazowski, the founder and designer of Marlo Laz, a New York-based jewelry brand, has gained a following among celebrities and fashion influencers with their whimsical, gemstone-adorned pieces. Their designs, featured in Vogue and Harper’s Bazaar, celebrate life and beauty and prioritize high-quality materials and skilled artisans.
Marlo Laz also has leveraged collaborations such as a recent capsule collection with bridal e-commerce platform Over the Moon and social media to grow its brand, working with fashion brands and influencers and engaging with followers on Instagram. Aspiring jewelry entrepreneurs can learn from their approach to taking on the world of fashion by creating a strong brand identity, using high-quality materials, and utilizing collaborations and social media to reach a wider audience.
Tips for Starting a Jewelry Brand
Conduct Market Research
It’s essential to understand your target audience, competition, and market trends. Research popular styles, materials, and price points to identify gaps in the market and differentiate your brand.
Develop a Brand Identity
Your jewelry business identity is what sets you apart from your competitors. Develop a unique brand name, logo, and aesthetic that aligns with your target audience and values.
Build an Online Presence
In today’s digital age, having a strong online presence is crucial for any business. Create a website, social media accounts, and an online store.
Source High-quality Materials
The quality of your materials can make or break your jewelry brand. Research reputable suppliers and invest in high-quality metals, gemstones, and other materials.
Price Your Products Strategically
Research pricing strategies, such as cost-plus or value-based pricing, to find the best approach for your brand.
Wrapping Up
Jewelry is a vital component of the fashion world, and the demand for unique and personalized pieces continues to grow. Figuring out how to create your own jewelry brand can be challenging, but with market research, a strong brand identity, high-quality materials, and a strategic pricing strategy, aspiring entrepreneurs can absolutely succeed in the industry.
Feature Image: Photo by Nati Melnychuk
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