jewelry brand business plan

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Jewelry Business Plan

Are you an aspiring jeweler planning to turn your passion into a successful jewelry business or an entrepreneur seeking guidance in planning?

With low overhead costs, a diverse customer base, and huge profit potential, it surely can be a rewarding profession. So, well done—you’re on the right track.

However, not every jewelry business owner turns out to be successful. You need a comprehensive and well-thought-out business plan to make it a runaway success.

Need help writing a business plan for your jewelry business? We can help. Our jewelry business plan template will help you get started.

Key Takeaways

• Highlight your jewelry business, its ambiance, your jewelry product offerings, and any USPs of your business in your plan.
• Consider SWOT analysis to identify the strengths and weaknesses of your jewelry business.
• Prepare a compelling executive summary summarizing your entire business plan.
• Conduct thorough market research to understand jewelry market trends, target audience, and customer preferences.
• Researching and analyzing your direct and indirect competitors helps determine where your business stands.
• Outline an operational plan to detail your staffing requirements, customer service, and inventory control.

Industry Overview

The jewelry market stood at a value of 278.5 billion US dollars in 2018 and isn’t expected to slow down any time soon.

Jewelry is popular nowadays because of the status it represents, the unique touch it can give to any attire, and the increasing importance of style and trends amongst younger consumers.

All of this has led to the exponential growth of the jewelry market. If you have the taste and can produce designs that can become the next big thing, then a jewelry business can become an extremely fulfilling and profitable career.

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Things to Consider Before Writing a Jewelry Business Plan

Have a proper business goal.

This is the first step towards building a thriving jewelry business. Having a proper goal gives you something tangible to work on.

For example, you want to produce 100 unique designs within the next 6 months.

Pick a memorable brand name

A memorable brand name will help you become memorable to your target audience. Your brand name is the primary aspect your consumer remembers you by, hence picking a good brand name is important.

Pick a relevant brand name, that resonates with your business’s purpose, is easy to remember, and is unique.

Make an effective online and offline marketing strategy

Having a good market strategy helps you capture a wider market, build a strong brand image, and gain consumer trust as your brand grows.

It is important to have a good online marketing strategy, as the number of people who look for information and products to buy online is increasing at a rapid rate. Also, with the recent pandemic, the pace of such change has increased faster than ever before.

Hence, having a strong online presence is essential to business success.

Have a passion for your work and create innovative designs

Being passionate about what you do is essential in the jewelry market as it takes quite a bit of creativity and passion to reach the peak of your career in this business. You’ll need to work hard and have patience. Both of these are difficult if you aren’t passionate enough.

Apart from that, constantly creating designs that help you find your unique style is essential. After all, who wouldn’t want to stand out amongst several others who do the same business?

Chalking Out Your Business Plan

If you are passionate enough you can get into it and do well as it is much less competitive than several other design industries due to the skills it requires.

Reading sample business plans will give you a good idea of what you’re aiming for. It will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample jewelry business plan template to get a good idea of what a perfect jewelry business plan should look like and what details you need to include in your stunning business plan.

Jewelry Business Plan Outline

This is the standard Jewelry business plan outline which will cover all important sections that you should include in your business plan.

• Problem Definition & Validation
• Short Term (1 -3 Years)
• Long Term (3-5 years)
• Mission Statement
• Keys to Success
• Units Sold v/s Revenue Chart
• Company Ownership / Legal Entity
• Interior Operating Facilities
• Hours of Operation
• Start-up Summary
• Customer Service
• Market Segmentation
• Market Trends
• Adornet Market Distribution
• Competitive Advantage
• SWOT analysis
• Distribution Strategy
• Direct Sales
• Trade Publications
• Trade shows and Lifestyle Exhibitions
• Targeted Online Advertising
• Positioning Statement
• Online Marketing Channels
• Offline Marketing Channels
• Pricing Strategy
• Organization chart
• Management Team
• Hiring plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

Download Sample Jewelry Business Plan

Need assistance writing your jewelry business plan from scratch? Download Upmetrics’ free sample jewelry business plan PDF to gain inspiration and simplify business plan writing.

This jewelry business plan template is designed to meet the needs of both online and traditional jewelry businesses. Use this example business plan as a guide when writing your own.

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So what are you waiting for? Whether you plan to start a jewelry business or grow an existing one—Upmetrics will get the job done!

Start planning today!

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6 Important Business Milestones Guide

Frequently asked questions, what are the startup costs for opening a jewelry business.

The average cost of starting a retail brick-and-mortar jewelry store is around $9K and $30K, whereas starting an online jewelry business costs anywhere between $3K to $15K.

What is the easiest way to write your jewelry business plan?

Well, there are a few ways to write your jewelry business plan. However, using a jewelry business plan template and modifying it is the easiest. You can start and finish writing your business plan using Upmetrics’ business plan template in just a few hours.

What key components should a jewelry business plan include?

The following are the key components your carpet cleaning business plan must include:

• Executive summary
• Business Overview
• Market Analysis
• Products and services
• Sales and marketing strategies
• Operations plan
• Management team
• Financial plan

Why do you need a jewelry business plan?

It’s no secret that a business is an essential element in making a successful business, but it looks more relevant and necessary when selling high-value products like gemstones and jewelry.

A well-thought-out jewelry business plan will help you gain clarity and confidence in your vision, provide strategic direction, and help in securing funding or investment for your venture.

What are the key components of a market analysis for a jewelry business plan?

Market analysis is a crucial element of your jewelry business plan. The following are the key components of your market analysis:

• Market Overview
• Target market
• Competitive Analysis
• Market size and growth potential
• Market trends

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Jewelry Business Plan Example

Published May.06, 2018

Updated Apr.23, 2024

By: Noor Muhammad

Average rating 3.5 / 5. Vote count: 13

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Table of Content

Do you want to start jewelry business?

Do you want to start a jewelry business? Well, if you have what it takes to design attractive and eye-catching jewelry and you also have a passion for it then it is probably the right business for you. The biggest benefit of starting this business is that it offers an extremely high ROI and never goes down during any part of the year because people don’t hesitate to spend cash on something which makes them look good. But before you move on to starting this jewelry business plan , you will have to prepare a comprehensive business plan for jewelry . It will not only help you in startup but will also serve as the basis of your company’s future operations. In case you don’t know how to start a jewelry business or write a business plan for it, you can take help from this sample business plan for jewelry business startup named ‘NM Jewelry Store’.

Executive Summary

2.1 the business.

NM Jewelry Store will be a licensed and insured jewelry manufacturing business that will provide high-quality, attractive and low-cost jewelry products to its customers. The business will be based in Manhattan.

2.2 Management

NM Jewelry Store is a sole proprietorship owned by Nick Monty. Nick is a passionate Jewelry designer who has been in this industry for more than 10 years. The company’s main management framework comprises of sales executives, designers, and artisans.

2.3 Customers

You should carry out proper research to know your customers before you start your own jewelry business . Our customers include the married and committed couples as well as the teens and adults living in downtown Manhattan.

2.4 Business Target

Our business targets to be achieved within next three years are as follows:

Company Summary

3.1 company owner.

NM Jewelry Store is a sole proprietorship owned by Nick Monty. Nick is a passionate jewelry designer who has been serving the jewelry industry for more than 10 years.

3.2 Why the Business is being started

Nick is passionate about designing jewelry and is known all over the United States due to his innovative designs. Nick’s specialty is to design extremely detailed jewelry sets using the proper mix of precious metals which also cost less than other similar sets available in the market. The jewelry business plan is being started with the aim of making profits in this industry by introducing extremely low-cost designs.

3.3 How the Business will be started

NM Jewelry Store will be started in downtown Manhattan in a leased location which was previously used by a travel agency. The facility will be used for making jewelry by artisans and designers and will also be used as a store to display the jewelry. In addition to the office furniture and the usual inventory, the company will procure computers, color printers, scanners, jewelry design software, jewelry cutting and anodizing equipment as well as the other necessary tools. The financial experts have forecasted following costs needed to start a jewelry business .

Services for customers

Before starting a jewelry store, you must decide what services/products will you offer to your customers. You can also take help from this jewelry business plan template in case you don’t know what services you can provide. NM Jewelry Store will be a licensed and insured jewelry manufacturing business which will provide high-quality, attractive and low-cost jewelry products to its customers. Our main products/services include:

• Jewelry Products: Our main jewelry products that will be designed as well as manufactured by us include rings, necklaces, earring, anklets, bracelets, lockets, pendants, tie pins, shirt studs, brooches, and tiaras.
• Jewelry Sets: This category includes jewelry sets designed and manufactured by us. A jewelry set include similarly designed ring, necklace, earrings, and bracelets.
• Customized Jewelry: We will also make customized jewelry in accordance with the design requirements of our customers. The customers can either provide us with their desired designs or can tell us their requirements through any channel.
• Jewelry Repairing, Resizing and Polishing: We will also provide repairing, resizing and polishing services to our customers. These services are aimed at those people who receive jewelry in the gift but the sizes don’t match quite exactly and they have to resize them as per their size requirements. Similarly, the jewelry owners also need to regularly polish their jewelry products for a better look. These services are not aimed to directly generate revenue, instead, we aim to promote our products by providing these services to the jewelry owners.

Our jewelry products will be made from silver, gold, and titanium. Platinum will only be used in customized products at the request of customers. Customers can also order our products online via our official website.

Marketing Analysis of jewelry business

The most important component of an effective business plan for jewelry business is its accurate marketing analysis and a good business plan for jewelry business can only be developed after this stage. If you are starting on a smaller scale, you can do marketing analysis yourself by taking help from this sample jewelry business plan or any other jewelry business plan example available online. If you are starting on a larger scale, it is always best to seek the counsel of marketing experts for developing a good business plan for jewelry.

The success or failure of a business totally depends upon its marketing strategy for business which can only be developed on the basis of accurate marketing analysis. Therefore, it must be considered before developing the business plan for jewellery business .

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5.1 market trends.

The market and industry trends of a jewelry business plan can be learned from the internet or from this sample business plan for jewelry business . The United States is the third biggest jewelry market in the world. According to IBIS World, the jewelry industry is valued at $35 billion and has grown at a projected rate of 1.2% from 2011 to 2016. Currently, there are more than 62,000 jewelry stores in the United States which are responsible for employing more than 170,000 people. The sale of branded jewelry is less as compared to the sales from private jewelry stores. In short, jewelry industry has a lot of potential and can be immensely profitable provided that you plan your jewelry business successfully.

5.2 Marketing Segmentation

Our target market is the residential community living nearby at the 10 minutes’ drive from our office. The community consists of all types of people from varying backgrounds. As per the financial position, nearly half of the community has a monthly income ranging from $40k to $50k while nearly 10% people have incomes even around $100,000. There are currently more than 738,000 households in Manhattan out of which 17.1% have children under the age of 18 living with them, 25.2% are married couples living together and 12.6% have a female householder with no husband present. 59.1% are non-families, out of which 48.0% of all households are made up of individuals and 10.9% have someone living alone who is 65 years of age or older. It is very important to analyze the market segmentation of the future customers of your products or services because a successful and efficient marketing strategy can only be developed after we completely know our potential customers. Our experts have identified the following type of target audience which can become our future consumers:

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Couples:

Our first target group will be the married couples as well as the committed people. These people are most likely to buy jewelry products for each other. For instance, the engaged or married people often tend to buy jewelry products for their beloved on many occasions like Valentine’s day, birthdays, anniversaries. This group will be the biggest consumer of our products and hence our marketing strategy will be specifically built to attract them.

5.2.2 Teens:

Our second target group comprises of teens who buy jewelry for themselves for wearing at parties, functions or in daily life. These teens usually can’t afford expensive products and often prefer the look of jewelry to its quality.

5.2.3 Adults:

The third group comprises of adults who buy jewelry for their kids, family, friends or themselves. They are usually settled in their lives and can afford expensive products.

5.3 Business Target

Our main business targets to be achieved as milestones over the course of next three years are as follows:

• To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
• To balance the initial cost of the startup with earned profits by the end of the first year

5.4 Product Pricing

After considering the market demands and the competitive environment, we have priced our products 10% cheaper as compared to our competitors, with prices starting from $100.

After identifying the market trends, market demand, and the potential customers of the startup, the next step is to define an effective strategy to attract the potential customers. Like marketing analysis, sales strategy is also an important component of a jewelry store business plan and must be properly developed before thinking about how to start your own jewelry business .

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excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

6.1 Competitive Analysis

Our biggest competitive advantage will be the quality of our innovative products. Our products will be attractive, eye-catching and will be offered at comparatively lower prices as compared to our competitors. In addition to that, our second biggest competitive advantage will be our exceptional customer service. We will make sure that our customers get the best products which also suit their budget. As with the customized products, we will make revisions until our customers are fully satisfied. Our location is also one of our biggest competitive advantages since we will be based in downtown which is considered an ideal location for starting a jewelry business . Another important aspect is that no jewelry store offers jewelry repairing and resizing services within a 5 km circle from us which will also increase the number of visitors to our store.

6.2 Sales Strategy

After carrying out a detailed analysis, our experts came up with the following brilliant ideas to advertise and sell ourselves.

• We will emphasize on our search engine marketing efforts to ensure a strong web presence.
• We will get featured in the local news or on a certain website by a popular blogger to increase our popularity.
• We will advertise our jewelry store in relevant business magazines, newspapers, TV stations, and social media.
• We will offer a 5% discount on our products for the first month of our launch.

6.3 Sales Monthly

6.4 sales yearly, 6.5 sales forecast, personnel plan.

Personnel plan is also an important component of a good jewelry store business plan . The personnel plan of our company is as follows.

7.1 Company Staff

Nick will act as the General Manager of the company and will initially hire following people:

• 1 Accountant for maintaining financial and other records
• 2 Sales Executives responsible for marketing and discovering new ventures
• 4 Designers for designing the jewelry
• 8 Artisans for manufacturing, repairing, resizing and polishing jewelry
• 3 Assistants for helping with day-to-day operations
• 1 Technical Assistant for managing the company’s official website and social media pages
• 4 Customer Representatives to interact with customers and record their orders

7.2 Average Salary of Employees

Financial plan.

The financial plan covers all the expenses needed for the startup so you must develop it before starting your own jewelry business . The financial plan should craft a detailed map about the cost of inventory, payroll, equipment, rent, and utilities needed for the startup and how these costs will be covered by the earned profits. It is recommended that you hire a financial expert for guiding you how to start a gold jewelry business and make an accurate financial plan for your company.

8.1 Important Assumptions

8.2 brake-even analysis, 8.3 projected profit and loss, 8.3.1 profit monthly, 8.3.2 profit yearly, 8.3.3 gross margin monthly, 8.3.4 gross margin yearly, 8.4 projected cash flow.

Download Jewelry Business Plan Sample in pdf

Professional writers OGS capital specialized also on theme such as bar soap manufacturing business plan , biofuel business plan , candle making business plan , business plan for production and supply chain , production business plan , skateboard business plan and many other business plans.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Jewelry Business Plan Template & Guidebook

Aspiring jewelry entrepreneurs have a valuable new tool at their disposal - the #1 Jewelry Business Plan Template & Guidebook. This comprehensive guidebook provides aspiring jewelry business owners with everything they need to know about starting and running a successful jewelry business. It covers topics from financial planning to marketing strategies, giving readers the best possible foundation for launching their own business. With this guidebook, creating your own jewelry empire is within reach.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Jewelry Business [11 Steps]
• 10+ Best & Profitable Jewelry Business Ideas [2023]
• 25 Catchy Jewelry Business Names:

How to Write a Jewelry Business Plan in 7 Steps:

1. describe the purpose of your jewelry business..

The first step to writing your business plan is to describe the purpose of your jewelry business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a jewelry business:

Our mission is to create beautiful, unique and timeless jewelry designs that bring joy and elegance to our customers and make them feel special. We strive to be the premier choice for jewelry in our community, by providing excellent customer service, as well as quality products with an emphasis on craftsmanship. We are committed to continuous improvement of our products and services, while preserving the heritage of our craft.

2. Products & Services Offered by Your Jewelry Business.

The next step is to outline your products and services for your jewelry business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your jewelry business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your jewelry business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your jewelry business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

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4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a jewelry business?

• Jewelry making supplies, such as wires, beads, charms, findings, and tools
• Jewelry displays, such as jewelry boxes and stands
• Computer equipment such as a laptop or desktop computer to create a website/online presence
• Photo editing software to create images for any website/marketing materials
• Relevant licenses from local or state government depending on the state's requirements for business operations.

5. Management & Organization of Your Jewelry Business.

The second part of your jewelry business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your jewelry business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Jewelry Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a jewelry business varies based on many different variables, but below are a few different types of startup costs for a jewelry business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your jewelry business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your jewelry business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your jewelry business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Jewelry Business Plans:

Why do you need a business plan for a jewelry business.

A business plan is an essential document for any business, including a jewelry business. A business plan can help identify potential problems and solutions, by outlining the financial and operational elements of the business. It will also address the current and future needs of the business, allowing you to create a strategic plan that will help reach your goals. A business plan also helps secure financing by providing lenders and investors with vital information about the company, such as financial projections and target markets. Having a well-developed business plan is key to success in starting and operating a jewelry business.

Who should you ask for help with your jewelry business plan?

The best person to ask for help with a jewelry business plan is a qualified business consultant or advisor. Business consultants can help you analyze the industry, identify potential risks and opportunities, create a realistic financial strategy and develop an actionable plan for success.

Can you write a jewelry business plan yourself?

Yes, it is possible to write a jewelry business plan yourself. There are several steps that must be taken when writing a business plan, including setting goals and objectives, researching the industry and market, creating a financial plan, and outlining a marketing strategy. Additionally, you may need to consult with experts in accounting, marketing, or other areas if you are unfamiliar with certain aspects of the process.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

How to Start a Thriving Jewelry Business in 9 Steps

Home » Blog » How to Start a Thriving Jewelry Business in 9 Steps

It’s no secret that business owners wear many hats, from marketing to bookkeeping.

No matter what type of business you plan to start, opening a new business is a journey with many small steps.

And when you’re selling jewelry, whether online or from your market stall, you need to add creative design and innovative ways to engage your target audience. 

Thankfully, it doesn’t matter whether you’ve run a business before. 

With a passion for jewelry and proven step-by-step instructions on the most up-to-date strategies, you can start a thriving jewelry business! 

And just before we learn how to start a jewelry business, let’s consider why it could be the best business decision you’ll ever make.

Why Open a Jewelry Business?

The global jewelry business is booming; financial predictions say it’ll be worth $292 billion by 2025 . The U.S. jewelry market alone should surpass $61.868 billion in revenue by 2026. 

And with low entry costs and average profit margins of 42.6% or $42.60 on every $100 worth of jewelry you sell, there’s money to make.  

Right now, many start-up jewelry businesses with zero experience are crushing it, using paid ads and free viral trends on platforms like TikTok, Instagram, and Facebook–proving rapid growth and high profits in a chosen niche is realistically attainable.

And for artists? You can do what you love by combining your skills with an entrepreneurial approach that’ll take your idea and turn it into a blooming jewelry business, giving you the best of both worlds.

But to become the next Mejuri (heard of them?), you must first find your unique voice and path. To help you do so, and open your very own jewelry business with ease, follow these steps:

• Find Your Niche
• Learn Your Competitors
• Create a Business Plan for Your Jewelry Business
• Build Your Budget
• Find a Workspace or Studio
• Start Production
• Create a Marketing Plan for Your Jewelry Business
• Invest in Product Photography
• Set Up Supply and Delivery Methods

1. Find Your Niche

A niche is a small percentage of the total consumer market that wants a specific product or service. 

To sell jewelry, you must identify your target audience and create marketing strategies that engage their imagination. And the better you define your niche, the more sales you’ll make, encouraging repeat customers and saving advertising costs.   

For example, think about the clothing or beauty product stores you buy from; you go back for more, right? 

That’s because you’re their target audience; you fit the persona those shops make their products for and the brand they built to engage your imagination.

So, what’s your niche?

How to find your jewelry niche

A jewelry designer’s style influences their niche. For vendors, it’s the type of jewelry they sell and the market sector they sell to. 

The jewelry business has endless niche opportunities because of its vast 

 range. Most, however, fall under 3 categories:

1. Costume jewelry

Also known as fashion jewelry, you make it using semi-precious stones, simulated diamonds, beads, plastic, wood, brass, and many other metals. 

With increasing global consumer interest in affordable and fashionable jewelry and growth expectations of $59.7 billion by 2027, the costume jewelry market’s a low-entry business opportunity with huge profit potential.

2. Handmade jewelry

Handmade jewelry is as bespoke as the person making it. Demand has soared in recent years, and with e-commerce sales platforms like Amazon Handmade, Etsy, Aftcra, Artfire, Folksy, and ShopHandmade, it’s now easy for creative artists to reach a global audience.

3. Fine jewelry

This is made of solid gold, platinum, sterling silver, and other precious metals and gemstones, like genuine diamonds, rubies, sapphires, etc. Think high quality, with a price tag to match.

Products range from $100 to $10,000 and more, depending on materials, their size, and the brand selling them. It’s a booming market, but with the high price tag comes expensive set-up costs.

Jewelry trends and life event micro-niches

You can also find your niche by reviewing the latest jewelry trends and following fashion blogs, industry publications, and influencers. 

A micro-niche would have you focus on a particular audience or jewelry for a specific occasion, such as proms, graduation, engagement proposal, weddings, Mother’s and Father’s Day, Valentine’s Day, Christmas, and New Year’s. 

After all, we can celebrate and remember almost every significant occasion with jewelry!

The takeaway

A small niche is an excellent way to enter the jewelry business. Find yours, then focus your branding , marketing strategies, and resources around it to make it band-specific for that target audience.

Once you’ve chosen your niche, it’s time to check out your competitors:

2. Learn Your Competitors

Your direct competitors are a fountain of helpful information you can use to establish your new jewelry business as a go-to brand for your target audience. You get that info by conducting a competitor analysis .

Your competitor analysis aims to identify your direct competitors (those selling similar jewelry pieces to the same audience), their best-selling products, which marketing platforms they use, and their strengths and weaknesses to gain a competitive advantage. 

Ask the following questions when analyzing your competitors:

• What’s their approach, and why does it work?
• Who’s their target audience, and which marketing tactics do they use to engage them?
• Where and how are they selling their jewelry? Is it their website or selling platform (like eBay or Amazon)? Wholesale or brick-and-mortar boutiques?

Read your competitors’ reviews on 3rd-party sales platforms, like Etsy, Amazon, and Artcra, to find any recurring complaints and unedited customer reviews about their products or service.

Look for something you can improve, such as product quality, customer service, delivery times, or a missed marketing opportunity, then use it to your advantage. 

We’ll look at how you find and use your competitors’ information in just a minute, but before we do, you need a plan to succeed!

3. Create a Business Plan for Your Jewelry Business

A business plan outlines your goals and describes how you’ll achieve them. It acts as your guide, helping you stay on target, and you can use it to convince others, like banks and manufacturers, to support your business. 

The type of plan you need and its level of detail depends on your business size and whether you’ll start with employees or need a loan. 

For example, if you need funding or are opening a brick-and-mortar store with employees, you might need a 60-page traditional plan. In contrast, a one-page business plan would suit most small jewelry startups selling online or at local events. 

Either way, your jewelry business plan should contain the following information:

• Business description: What you want your business to achieve
• Market analysis: Your niche, size, and principal competitors
• The products: The jewelry you’ll sell, where you’ll get it, and how much it costs
• Suppliers and resources: Where you’ll source your products or raw materials, and price
• Target audience analysis: Who they are, where they shop, and why they’ll buy from you
• Branding: The style and key elements you’ll use to promote your brand and engage your target audience
• Your marketing and sales plan: Where and how you’ll engage your target audience and turn them into return customers
• Your team: A list of everyone involved in setting up and running your business, and their roles
• Pricing and sales structure: What you’ll charge for your products, how you’ll determine the sale price, and which payment methods you’ll accept
• Income sources: How your business will earn its income
• Financial statement: An overview of your present financial situation, how much money you have to invest, and your long-term income goals
• Funding projections: How much you’ll need to start your business, where you’ll get it, and how you’ll pay it back

Helpful resources:

We provide a free business plan template so you can begin writing yours today, and the Small Business Administration (SBA) website has tons of helpful advice and examples.

4. Build Your Budget

Did you know that according to the US Bank, 82% of small businesses fail because of a lack of cash flow?

You can avoid that by building a realistic budget outlining your jewelry business’s current finances and long-term financial goals. The good news is, you can use the information you have in your business plan’s financial statement and projections to help you do it. 

3 reasons you need a budget:

1. To make the proper financial decisions. Your business budget acts like a personal financial advisor, helping you evaluate your current finances and which actions you must take to reach your future goals. 2. Identifying where to cut or increase spending. Your budget can help identify areas, such as product lines and marketing strategies, that provide the right results. This enables you to either increase or decrease your spending, maximizing your return on investment (ROI). 3. To get funding to start and grow your jewelry business. In order to get a loan from a bank or other investors to start or expand your jewelry business, you’ll need a detailed budget that includes your current financial position and future projections.

How to build your budget

You build a rock-solid budget by calculating 3 forms of business expenditures: Fixed, variable, and one-time costs.

One-off expenses:

Anything you buy to start or maintain your business, such as a laptop or a jeweler’s bench, are one-off expenses. Including them in your budget helps you figure out your set-up costs and what cash reserves you’ll need in case they need replacing.

Fixed costs:

Fixed costs, like rent, some utilities, licenses, permits, website hosting, subscriptions, and payroll, stay the same regardless of your sales volume. Once you have your fixed costs, add them together to find your fixed monthly expenditure.

Variable expenses:

Variable costs can go up or down with your sales volume, and you can tweak them to suit your budget. They can include stock, shipping costs, paid advertising, travel expenses, and usage-calculated utilities like gas or electricity.

When business is booming, and profits are high, you can invest more in any variables providing a good ROI. But when business is slow and income is low, scale back to ensure your business stays within its budget. 

Add your variables monthly, and you’ll soon see how and where your expenses fluctuate, giving you an accurate financial projection you can build your budget around.

You can use cost projections to build your budget before you start your jewelry business.

Begin by checking out relevant sales platform subscription fees and website hosting packages. Calculate average workshop rental and utility costs. Contact suppliers for the product, raw material prices, and other expenses. 

Then look at the average sales price for products similar to yours. From there, you’ll be able to project your future outgoings, income, and profit.

5. Find a Workspace or Studio

Many people start off manufacturing jewelry at home, but as their jewelry business grows, they develop the need for a more organized workspace or jewelry studio. This space can serve both as your sanctuary and creative outlet, as well as be a crucial building block in the success of your business.  

You have 2 property choices for making jewelry products–in-house, or leasing a commercial space–and both will need a specific workshop/studio space for you (and your team, depending on your production size). 

Consider the following when choosing your workspace:

Licenses/permits

Depending on your location, you may need specific licenses or permits to make your jewelry products. Some to consider are a zoning permit that provides permission to make your products in your chosen workspace, a business license that allows you to operate in your state, and a retail sales tax or vendor’s permit for collecting and paying sales tax.

The chemicals and tools you’ll use to make your jewelry often require proper safety precautions and ventilation. Check your local laws governing the use of these substances, and contact the Occupational Safety and Health Administration (OSHA) to find out more.

Maneuverability

Set your workshop up so it supports your production. If your jewelry assembly has several steps, ensure a logical flow that enables you to maximize your workspace and hours.

Jewelers need many tools, some of which are pretty small; multiple storage compartments help you stay organized and find what you need when you need it.

Workspace/studio jewelry-making tools and equipment

In addition to your jewelry-making tools and must-have pliers and cutters, you’ll need to invest in furniture to make a fully-functional jewelry studio. The critical pieces of equipment you’ll need are a jeweler’s bench and a flex shaft, which I’ll talk about in a minute. 

A jeweler’s workbench is higher than regular ones, helping prevent hunching and back problems. Jeweler’s workbenches include:

• A pull-out metal-lined bottom drawer to catch metal shavings
• Holes and bench pins to hold ring mandrels
• Multiple different-sized drawers for tools and easy accessibility
• A walled top surface to keep items from rolling off

A flex shaft is a motorized tool for drilling, cutting, carving, finishing, and polishing your jewelry. Other tools your workshop/studio might need are :

• Flat Nose Pliers
• Round-Nose Pliers
• Nylon Tipped Pliers
• Wire Cutters (toenail clippers work just as well)!
• Flush Cutter
• Jeweler’s Saw

Jewelry business owners that require a production team or specific equipment for silversmithing/metalwork might need a commercial space. Similar license and permit rules and regulations might apply in most states, so contact your town hall or secretary of state’s office to confirm which ones you need.

6. Start Production

Before you can start production, you have to source materials. To find them at the best price, ask other jewelry designers in person or via online forums who they buy from. You can research jewelry trade shows like the Tucson Gem and Jewelry Show, where you’ll find thousands of global jewelry vendors.

Also, consider getting a reseller license to forgo paying sales taxes when buying in bulk.

In-house jewelry production

You can make 3 jewelry categories in-house with the right equipment, expertise, and training:

• Costume jewelry. This is a popular choice for a good deal of new jewelry business owners, as you don’t need specialized training–just hand tools, skill, and imagination. And, it’s an easy business model to scale; you can purchase materials in bulk and hire people at an affordable cost to meet demand.
• Handmade jewelry. The training level depends on the design's intricacy, as do the tools. Pieces are usually one-off or made-to-order, so it’s a tricky business model to scale up.
• Hand-crafted fine jewelry. When creating fine jewelry with expensive raw materials, you’ll need specialized training , certificates of proof, expensive equipment, and possibly licenses and permits. Scaling a business of this nature is no simple task. However, the rewards of creating a successful fine jewelry business are priceless.

Outsourcing your jewelry production

An alternative option to making jewelry yourself is to outsource production. 

Suppose you plan to sell on many reselling platforms, like Amazon Handmade, Etsy, Aftcra, Artfire, or Folksy. In that case, you might need to outsource to meet demand!

Outsourcing is most popular with fashion/costume jewelry, especially if you’re buying from overseas. 

However, it is possible to outsource fine, custom, and handmade jewelry, but it’s advisable to keep it local; I’ll explain why next:

Local production

For brick-and-mortar and stall jewelry business owners, local manufacturing gives your products that “made locally” appeal. And, you can build close relationships with your suppliers, maintain production standards, and avoid shipping costs, import tax, and other fees.

The downside to local manufacturing is that you’ll pay more due to labor and raw materials costs, have fewer manufacturers to choose from, and encounter limited production volumes.

Overseas production

Outsourcing production overseas from websites like Alibaba gives you a vast choice of manufacturers, lower labor and raw material costs, a more extensive choice of materials, and scalable production volumes.

However, communication can be difficult, and you must employ a 3rd-party inspection company to maintain quality control. And there are additional costs, such as MOQ (minimum order quantities, which can be high), shipping fees, and import taxes.

7. Create a Marketing Plan for Your Jewelry Business

A marketing plan identifies a target market that wants your jewelry style and outlines how you’ll find and sell to them. The easiest way to develop a marketing plan that works for your target audience is to look at how your direct competitors do it. 

Here’s how to analyze your competitors:

1. Identify your direct competitors. You can find your online competitors using keywords that are relevant to the products you’re selling, such as ‘silver anxiety rings,’ ‘crystal necklaces,’ or ‘mother-of-pearl pendants.’ 2. Analyze their website and marketing strategies. Once you identify your competitors, check their websites, read their about page, and follow any social media links to get an idea of their overall marketing strategy. 3. Check out their content. Next, review their content on their websites and social media platforms. Look for how they connect with their target audience; for example, do they use beautiful product images and videos, a blog, and post regular content? 4. Review their products. Make a list of the products they’re selling. Are they the same as yours, or could you add them to your lineup? 5. Look at pricing. Is it higher, lower, or similar to what you want to charge? Take note, but don’t undercut or compete on price; your goal is to find the average. 6. Learn about their social media presence. Your competitors’ social media channels and any specific posts that get high engagement can provide crucial marketing information, such as your target market’s interests, what content or products they like, and which platforms they use. 7. Are your competitors using influencers in their campaigns? An influencer is someone with a large social following who you pay to promote your products. It’s an effective strategy for getting your products seen by a wider audience who trusts the influencer.

Selling on Etsy or Instagram?

Both of these channels are excellent for selling jewelry, but only if you know how to create the right brand style and marketing strategy.

• Etsy is one of the most popular sales platforms for all things handmade, and many jewelry business owners live solely on that platform.
• Instagram is hugely influential for building a loyal social media community using beautiful product images and exciting content. Your target audience can buy your products from the platform or follow a link to your website. And with almost 1.5 billion users, it’s worth considering.

How to brand and market on Etsy or Instagram:

Etsy lets you build an online store; Instagram’s similar but with a social media approach. Your goal with both is to create a consistent, visually-striking brand that connects with your ideal client’s personality. 

Check out your direct competitor’s branding strategies to source the most effective visuals and colors for engaging your target audiences.

How to analyze your competitors offline

For local jewelry businesses, visit your local malls and craft fairs. Find similar jewelers, look for the busy ones, and think about what attracts you and others to their stall and products. Check out their prices and what products are selling best.

What would you do differently?

Think about your unique selling point (USP) and how you’re different from your competitors. Then review your price points (what you want to charge per product) and if it compares.

Look at all your competitors’ marketing ideas, then create a list of favorites you can use in your jewelry marketing plan.

8. Invest in Product Photography

It’s no exaggeration to say product photography can make or break your jewelry business, because even your most beautiful pieces can look unappealing if the images are of poor quality. 

Jewelry is a visual and tangible product, and as your prospective customers can’t touch your pieces, your product photography must sell for you.

Professional product photography also increases user engagement with your website, attracts your audience on Instagram, and builds consumer trust in your brand on sales platforms like Etsy and Amazon. 

You have 2 choices for creating high-quality product photography: Invest in equipment and do it yourself, or hire a professional photographer. I’ll explain how to do both next.

DIY product photography

The good news is, you don’t need an expensive product photography camera to take professional-looking images. An iPhone can produce excellent product photos with a few exceptions. 

For example, shooting close-ups of intricate details and reflective surfaces can be tricky; here, you might need a smartphone macro lens . You’ll also require a tripod, lighting set-up, and a backdrop.  

When shooting your product images, take several angles and views and use the following 2 categories:

1. Detail product photos: Close-up images taken on a plain, clean background, minimizing distractions and highlighting every detail of your piece. These product photos are clutter-free and consistent–perfect for your catalog images.

2. Lifestyle photos using models: These photos show the scale of your products when worn, and are great for combining pieces to encourage upselling (when people buy 2 or 3 products that complement one another). Lifestyle photos are what you’ll use on your website and social media posts.

Consistency is crucial for your product photography, as it creates familiarity with your viewers, increasing trust in your brand. For detailed product photos, use similar backdrops and styles like plain white, slate, marble, or a wood grain effect. 

But if photography isn’t your thing, no worries; there’s a simple solution.

How to find a professional photographer

Professional photographers are skilled at complicated lighting, image angles, working with models, and getting the best out of your pieces.

Thankfully, hiring a professional photographer doesn’t have to break your budget; here are 3 solutions to finding an affordable professional photographer.

1. Instagram

Instagram is image-driven, so no surprise that it’s also where you can find photographers. Search using # (your city) photographer; look for ones just getting started (they’ll be cheaper) with a style that suits yours.

2. Local high school

High schools often have great photography clubs with budding photographers who want to build their portfolios. Don’t let the age fool you; these kids have top-quality equipment and understand lighting.

3. Adult learning programs and local city colleges

Most students need experience in several mediums; your products could be one of them. And if you connect with a photographer you like, it could start a long-lasting business relationship.

How to find models for your products

To take lifestyle product images, you’ll need models. But few of us have a list of models on speed dial; fortunately, you don’t need modeling connections to find them.

Once again, most models are active on social media, sharing images from previous work and making it easy to see their style and modeling level.

To find a local model, use a location tag, # (your city) model. And, look at the photographers you saw; do they have models in their photoshoots? If so, send them a message or contact them through the photographer.

Facebook groups

Model and photographer Facebook groups are common in every location, where you can find models with various levels of experience that might be interested in a creative project.

Use the group to create a post describing the models you need and your project details; odds are, you’ll get a ton of replies.

Ask friends

Friends are perfect for modeling, as you’re familiar with each other and they might do it for free. It doesn’t matter if they have any experience, because your photographer knows how to make them comfortable.

9. Set Up Supply and Delivery Methods

You have several choices to deliver your jewelry; which you choose depends on what platforms you’ll use to sell your products–such as Amazon, Etsy, Instagram, your website–and the quantity. 

Let’s look at all of them:

Selling on Amazon

When you sell on Amazon, you can use FBA (fulfilled by Amazon). You send your stock to a fulfillment center, and they’ll deliver. Their rates, delivery time, and customer service are excellent, and Amazon takes full responsibility for late deliveries.

Selling from your website or Instagram

You can use an online fulfillment center like EFS when selling via your website. These businesses provide the same service as Amazon; they store, pick, pack (not branded packaging, you’ll need to do that), and deliver your products for a fee.

Selling on Etsy and other non-delivery platforms

When selling on platforms like Etsy, you must ship your products using a pickup service like the United States Postal Service , or UPS and DHL, who’ll come to your workshop/studio. Shop around for the best prices, as a few dollars less on postal can make a massive difference in your bottom line!

Start Your Jewelry Business

The best way to stand out from your competitors and create a loyal following of return customers is to trust yourself and your design instincts, remain authentic, and listen to your target audience.

Take each step one at a time and polish them until they shine. And don’t leave people waiting; start selling now because the world is waiting to wear your creations.

Jewelry business FAQs

How much does it cost to start a jewelry business?

Start-up costs are relative to the size and type of jewelry business you want to create.

For instance, you can begin with essential supplies and work in-house to make your jewelry with a couple of hundred dollars. Or, you could invest thousands in training, raw materials, and equipment to start a fine jewelry business from a commercial studio.

Is jewelry making a profitable business?

Yep, the average gross margin for jewelry is around 42.6%. So, for every $1,000 of products sold, you could earn $420.60 profit.

How much do small jewelry businesses make?

While the average jewelry shop owner makes $41,872 annually, some jewelry stall owners earn $1000 per month as a side hustle. Entrepreneurial sellers who choose the right niche, identify their target audience, create beautiful branding and use several sales platforms can make that in a day!

This portion of our website is for informational purposes only. Tailor Brands is not a law firm, and none of the information on this website constitutes or is intended to convey legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, Tailor Brands is not responsible for the information and/or its accuracy or completeness.

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Fine Jewelry Brand Business Plan

A fine jewelry brand business plan serves as a roadmap for success in the highly competitive world of luxury accessories. This article will provide insights on how to develop a comprehensive business plan that encompasses every aspect of launching and growing a jewelry brand. From market analysis and product development to marketing strategies and financial projections, this guide will equip aspiring fine jewelry entrepreneurs with the necessary tools to thrive in the industry.

A well-developed business plan is crucial for a jewelry brand as it outlines the company’s goals, strategies, and action plans. It serves as a blueprint that guides decision-making processes and helps navigate challenges along the way. By clearly defining the brand’s mission, vision, and objectives, a fine jewelry business plan ensures that every action taken aligns with the overarching strategy.

In this blog post, we will delve into what exactly constitutes a fine jewelry brand business plan, highlighting its importance in establishing a strong foundation for success within the industry. We will explore key components of a comprehensive business plan while providing practical tips and strategies to create an effective roadmap for your luxury accessories venture.

Whether you are starting from scratch or looking to refine your existing plan, this guide will assist you in crafting a business plan that sets your fine jewelry brand on the path to profitability.

Table of Contents

Executive Summary

The executive summary is a crucial component of your fine jewelry brand business plan . It serves as the essence of your entire plan, capturing the attention of readers and providing them with an overview of your brand’s vision, mission, and objectives. In this section, we will delve into the key aspects that should be included in your executive summary to effectively communicate your brand’s essence.

Defining the Purpose and Audience

Before diving into the details of your business plan, it is important to define the purpose and audience of your plan. Are you creating the plan for yourself as a guiding document, or are you seeking investors or partners? Understanding this will help tailor your executive summary accordingly. For example, if you are presenting to potential investors, you may want to emphasize the financial aspect and highlight profitability potential.

Essential Components

The executive summary should provide a concise but comprehensive overview of your fine jewelry brand. It should include key components such as:

• Brand Vision: Clearly articulate what your brand represents and how it aims to make a mark in the fine jewelry industry.
• Mission Statement: Describe the purpose of your brand’s existence and what sets it apart from competitors.
• Objectives: State measurable goals that you aim to achieve over a specific period, such as increasing market share or expanding internationally.
• Unique Selling Proposition (USP): Highlight what makes your brand unique and why customers should choose your jewelry over others in the market.

Effectively Communicating Your Essence

To effectively communicate your brand’s essence through your executive summary, craft compelling language that captures attention and inspires interest in readers. Use persuasive storytelling techniques to convey passion, innovation, quality craftsmanship, and exceptional design that characterizes your jewelry pieces.

Remember to keep the executive summary concise yet impactful. Use bullet points or short paragraphs to convey information effectively without overwhelming readers with unnecessary details. The goal is to leave readers intrigued and wanting to learn more about your fine jewelry brand.

In the next section, we will explore market analysis and how it can help you uncover opportunities for your fine jewelry brand.

Market Analysis

When starting a fine jewelry brand, conducting a thorough market analysis is essential to uncovering opportunities and gaining a competitive edge. This section of the business plan focuses on the steps and strategies involved in analyzing the market for your jewelry brand.

To begin, start by conducting extensive market research for the jewelry industry. This research should encompass factors such as current trends, customer preferences, pricing strategies, and potential growth areas within the industry. By understanding the market landscape, you can identify gaps and opportunities that will inform your brand’s positioning and marketing efforts.

Identifying target customers is another crucial aspect of market analysis for a fine jewelry brand. Consider demographics such as age, gender, location, and income level to define your target audience accurately. Additionally, delve deeper into their preferences and purchasing behavior in relation to fine jewelry. This information will help you tailor your product offerings and marketing messages specifically to your ideal customers.

Analyzing competitors is also vital in developing a successful fine jewelry brand. Identify key competitors within your target niche and analyze their strengths and weaknesses. Evaluate their product offerings, pricing strategies, marketing initiatives, and customer feedback to gain insights into what sets them apart from others in the market. This analysis will allow you to differentiate your brand by offering unique value propositions that resonate with your target customers.

Product Development

Designing a standout jewelry collection.

One of the most crucial aspects of product development for a fine jewelry brand is designing a standout jewelry collection that aligns with your brand’s identity. This involves identifying the unique selling points of your brand and translating them into exquisite pieces that capture the attention and interest of your target customers.

When designing your jewelry collection, it’s important to consider not only the latest trends but also your brand’s aesthetic and values. This will help you create designs that are distinctive and set your brand apart from competitors. Whether you choose to create modern, minimalist pieces or luxurious, opulent designs, ensure that every piece reflects the essence of your brand.

Additionally, you may consider offering customization options to cater to individual customer preferences. This can be achieved through personalized engravings or by allowing each customer to select their preferred gemstones or metals for their jewelry. By providing personalized options, you can provide a unique and tailored experience for your customers.

Sourcing high-quality materials and gemstones

To craft fine jewelry pieces that exude quality and luxury, it’s crucial to source high-quality materials and gemstones. Research reputable suppliers who adhere to ethical practices and consistently deliver exceptional materials. This ensures that each piece you create is made with the utmost attention to detail and craftsmanship.

Consider collaborating with expert gemologists who can advise you on selecting gemstones that meet both aesthetic standards and ethical considerations. Gemstone sourcing should take into account factors such as origin, sustainability, and compliance with fair trade practices.

In addition to gemstones, carefully select high-grade metals such as gold or platinum that will serve as the foundation for your jewelry pieces. Investing in top-notch materials will not only enhance the value of your jewelry but also contribute to building a reputation for excellence within the industry.

Establishing collaborations with skilled artisans and jewelers

Collaborating with skilled artisans and jewelers can be instrumental in bringing your jewelry designs to life. Seek out partnerships with experienced craftsmen who share your passion for creating exceptional pieces. These artisans can bring their expertise and attention to detail to transform your designs into tangible works of art.

Look for jewelers who have a strong track record in handling precious materials and possess the necessary technical skills to realize your vision. Establish open lines of communication and foster a collaborative working relationship, as this will help ensure that the final product aligns with your expectations.

Having skilled artisans as part of your production process also allows you to cater to customization requests, as they have the expertise needed to bring unique design elements to fruition. Their craftsmanship and attention to detail contribute immensely to the overall quality of your fine jewelry pieces, making them even more appealing to discerning customers.

By focusing on designing a standout jewelry collection, sourcing high-quality materials and gemstones, and establishing collaborations with skilled artisans and jewelers, you can create unique and irresistible fine jewelry pieces that set your brand apart in the market. These elements play a significant role in building brand recognition, attracting customers, and ultimately achieving success in the fine jewelry industry.

Marketing and Sales Strategies

One of the most crucial aspects of running a fine jewelry brand is developing effective marketing and sales strategies to promote your brand and achieve success. In this section, we will explore the key steps to take in order to effectively market your fine jewelry brand and reach your target audience.

Firstly, it is essential to develop a comprehensive marketing strategy for your jewelry brand. This involves identifying your target audience and understanding their preferences, needs, and desires. Conduct thorough market research to gain insights into the current jewelry trends and consumer behavior. By understanding your target customers, you can tailor your marketing efforts to resonate with them and create a strong connection with your brand.

In today’s digital age, utilizing various marketing channels is imperative for the success of a fine jewelry brand. Social media platforms such as Instagram, Facebook, and Pinterest are powerful tools for showcasing your jewelry pieces and engaging with potential customers. Create compelling content that highlights the unique features of your products and tells the story behind each piece. Consider collaborating with influencers or partnering with fashion bloggers who align with your brand’s aesthetic to expand your reach.

Moreover, implementing effective sales tactics is essential for driving revenue for your fine jewelry brand. Set realistic sales goals based on market research and determine the pricing strategy that best suits your target audience. Consider offering special promotions or discounts during holiday seasons or special occasions to attract new customers and retain existing ones. Additionally, providing exceptional customer service and ensuring customer satisfaction will help build a positive reputation for your brand and encourage repeat purchases.

To summarize, developing effective marketing and sales strategies is vital for promoting a fine jewelry brand successfully. By understanding your target audience, utilizing various marketing channels, implementing sales tactics wisely, you can effectively reach out to potential customers and build a strong customer base for long-term success.

Operations and Management

Running a smooth fine jewelry business requires careful attention to operations and management. This section of the business plan focuses on the necessary resources, equipment, and tools for your business, as well as the supply chain management and production process.

One important aspect of running a fine jewelry business is determining the necessary resources and equipment. This includes everything from materials and gemstones to machinery and tools. It is crucial to source high-quality materials that align with your brand’s vision and values.

Additionally, investing in top-notch machinery and tools will ensure that your production process runs smoothly and efficiently. By carefully selecting your resources and equipment, you can maintain the quality and craftsmanship that is essential for a fine jewelry brand.

Another key consideration in operations and management is the supply chain management process. This involves managing the flow of materials from suppliers to manufacturers to retailers or directly to customers. It is crucial to create a detailed plan for each step of this process, including sourcing raw materials, manufacturing jewelry pieces, quality control checks, packaging, and delivery logistics. A well-structured supply chain helps ensure timely delivery of products while maintaining consistent quality standards.

Establishing an organizational structure with clearly defined roles is also important for smooth operations. Identify key positions within your jewelry brand such as designers, artisans or jewelers, marketing professionals, sales representatives, and administrative staff. Clearly outlining responsibilities will help each team member understand their role in contributing to the overall success of the business.

Financial Projections

In the competitive world of fine jewelry brands, it is essential to have a clear understanding of your financial projections in order to determine the profitability and growth potential of your business. The financial projections section of your business plan provides insights into the monetary aspects of your enterprise, helping you make informed decisions and secure funding if needed. Here are some key steps to consider when calculating these projections:

• Estimating Costs: Before diving into financial projections, it is crucial to estimate the costs involved in starting and maintaining a fine jewelry brand. This includes expenses such as production materials, equipment, marketing and advertising, employee salaries, rent or lease costs, and any other overhead expenses. By accurately estimating these costs, you can establish a realistic foundation for your financial projections.
• Creating a Sales Forecast: A sales forecast is a prediction of your future revenue based on market research, customer demand trends, and industry analysis. It is important to develop a comprehensive understanding of your target market and competitive landscape in order to project sales accurately. By setting realistic goals for your sales growth over time, you can gauge the potential profitability of your fine jewelry brand.
• Projected Financial Statements: Developing projected financial statements allows you to see how your business is likely to perform financially over a specific period of time. This includes creating an income statement (also known as profit/loss statement), balance sheet, and cash flow statement based on your sales forecast and estimated costs. These statements provide a snapshot of where your business stands financially and help identify areas where adjustments may need to be made.
• Analyzing Risks: Every business venture carries inherent risks that may impact its profitability and growth potential. It is important to analyze potential risks specific to the fine jewelry industry, such as changes in consumer preferences, fluctuations in material prices, or increased competition from other brands. By identifying these risks upfront and developing contingency plans, you can mitigate potential financial setbacks and navigate challenges more effectively.

By carefully calculating your financial projections, you can gain valuable insights into the long-term profitability and growth potential of your fine jewelry brand. These projections will not only guide your decision-making process but also help attract potential investors or secure funding for your business. Remember to regularly review and update your financial projections as your business evolves, ensuring that you are always well-informed about the financial health of your fine jewelry brand.

In conclusion, developing a well-crafted fine jewelry brand business plan is essential for the success of your venture. Throughout this blog post, we have highlighted the importance of each section within the plan and provided guidance on how to effectively address them.

The executive summary serves as the heart of your business plan, conveying your brand’s vision, mission, and objectives in a concise and compelling manner. This section is crucial in capturing the attention of potential investors and stakeholders.

Market analysis allows you to uncover opportunities within the jewelry industry by conducting thorough research on target customers and competitors. By understanding the preferences and demographics of your target audience, you can tailor your products to meet their needs and gain a competitive edge.

Crafting unique and irresistible fine jewelry pieces is key to standing out from the crowd. Designing a standout collection that aligns with your brand’s identity, sourcing high-quality materials and gemstones, as well as establishing collaborations with skilled artisans will help you create an exceptional product offering.

Effective marketing strategies are vital for promoting your fine jewelry brand. Leveraging various channels such as social media and influencer collaborations will help you reach your target audience effectively and increase brand awareness.

Running a smooth fine jewelry business requires careful planning of operations and management. Determining necessary resources, establishing a detailed supply chain management process, and outlining key roles within your organization are all important aspects of efficient operation.

Financial projections play a critical role in calculating profitability and growth potential. Estimating costs involved in starting and maintaining a fine jewelry brand, creating realistic sales forecasts, and analyzing potential risks will enable you to make informed business decisions.

In closing, I encourage all aspiring fine jewelry entrepreneurs to take action now by starting work on their business plans. The journey may not always be easy, but with dedication, perseverance, and the right strategy in place as outlined throughout this blog post, you can bring your fine jewelry brand business plan to life successfully. Remember that every step forward brings you closer to achieving your dreams, and the world is eagerly waiting for your unique creations. Good luck.

Welcome to my jewelry blog! My name is Sarah and I am the owner of this blog.

I love making jewelry and sharing my creations with others.

So whether you’re someone who loves wearing jewelry yourself or simply enjoys learning about it, be sure to check out my blog for insightful posts on everything related to this exciting topic!

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How to Start a Jewelry Business

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One of the greatest joys of being an artist is sharing your work with the world. Jewelry designers in particular understand that, as jewelry can become especially sentimental to their customers. Starting a jewelry business is the best way to get your work out there and forge new connections with grateful clients.

It’s likely that you think of yourself as a jewelry designer first, and an entrepreneur second — if you think of yourself as an entrepreneur at all! But learning how to start a jewelry business is not as difficult as you may fear: It’s mostly a matter of time, effort and perseverance (and a few technicalities, too). We’ve broken down the process into seven essential steps to starting a jewelry business.

1. Define your line

Before you get into the nuts and bolts (or beads and clasps) of creating your jewelry and starting your business, you need to get clear about what, exactly, your jewelry business is . The best way to do this is in writing — or, more specifically, by writing a business plan.

You may balk at the prospect of writing out a business plan, but in truth, this plan doesn’t need to be nearly as complex or jargon-y as you may think. At its core, a business plan is an opportunity for entrepreneurs to organize their thoughts about their business, take stock of their finances and resources, start to build a marketing strategy, define their business goals and create a game plan about how to achieve those goals in the short term.

In your business plan, start by answering at least the following questions:

Are you selling fine jewelry or trend pieces?

Are your pieces handmade or outsourced to a premium manufacturer?

Will you operate from your home, or will you need to rent an office space?

Are you going it alone, or do you need to hire staff — either now or in the near future?

How will you price your products?

How is your jewelry different from your competitors’?

Who is your target audience?

How much cash do you need to get yourself off the ground?

How do you plan on marketing your business?

Where will you sell your products?

Keep in mind that your business plan is a living document. Once you launch your business, get hands-on experience as a jewelry business owner and become better informed about the costs attendant to running a business and your audience’s buying behaviors, you can fill in whatever gaps you’ve left in your preliminary plan — or create a new one entirely.

Create a business budget

Right alongside your business plan, you should be sketching out a business budget. First, make a detailed list of your preliminary startup costs, like tools and equipment; marketing material; licenses, permits, or educational courses; office or coworking space; wages for any staff you may be hiring; and your expected daily expenses.

Then, take stock of how much cash you have available and how much additional funding (if any) you’ll need to launch and operate over the next few months. Also, know that there are tons of small-business budget templates available if you need more guidance.

Learn from your competitors

During this pre-launch phase, it’s a good idea to do a bit of market research. Take a look at other, successful jewelry businesses that you admire and would like to emulate in some way: What’s their angle, and why is it successful? Who is their audience, and what’s their marketing tactic? How and where do they sell their goods — do they rely solely on their website or another selling platform (like eBay or Amazon), or do they also sell in brick-and-mortar shops? Market research is also critical in determining how to price your jewelry appropriately for your audience.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

2. Legalize your business

Next, you’ll need to cover all legal bases to ensure you’re running your jewelry business aboveboard. First, if you plan on running your business from your home, check with your local clerk’s office about licensing and permit requirements for home businesses.

Once you’ve created your business name, you’ll next decide on a business entity and register your business accordingly with your secretary of state (if there’s an existing business in your state operating under your chosen name, you’ll have to go back to the drawing board). The easiest route to go is as a sole proprietorship, which actually doesn’t require that you register with your state; in this instance, you’ll only need to file your business name as a “doing business as,” or DBA, unless you’re operating your business under your legal name. However, a sole proprietorship won’t offer you protection if your business runs into any legal issues.

The safest route to go is to register your business as an LLC. Registering as an LLC is an easy process, which you can do in a matter of minutes online; you can take a look at the SBA’s step-by-step guide to registering your business for some more guidance. What’s more, LLCs protect your personal assets from business-related legal issues, but filing taxes as an LLC is relatively simple.

At this point, you may also consider taking out business insurance to further protect yourself. Start by looking into product liability insurance, which protects businesses from legal fallout in case their product causes injury to a customer or other third party; and general liability insurance, which protects businesses against a slew of common legal claims. If you hire employees, you’ll need to look into other types of insurance like workers’ compensation, unemployment and state disability insurance.

Finally, you might want to register a trademark for your business name, logo or designs through the United States Patent and Trademark Office , which you can do easily online.

3. Separate your business and personal finances

Now that you’re a legally operating enterprise, it’s a good idea to start separating your business and personal finances. This is crucial for a number of reasons. For starters, this separation will help keep your personal finances safe from business-related legal issues; and, more practically, it’ll simplify your tax-filing processes.

Open a business bank account (most new businesses just need to start out with a business checking account ) and be sure only to deposit business earnings into that account. You can also consider signing up for a business credit card , which you can use for your business’s smaller, daily expenses. Plus, depending on the card you sign up for, you can earn valuable points, rewards or cash back that you can redeem and put right back into your business.

4. Find startup funding

You don’t need to be an entrepreneur to know that starting a business requires money, and you probably also know that it’s tough for brand-new business owners to secure business loans , either from their local banks or from online lenders. With no financial history in hand, lenders have no data off of which to determine a new business’s risk level, which means they can’t come to an informed credit decision.

For that reason, startup funding often comes largely from your own pockets. Many new entrepreneurs bootstrap their way up, using their personal savings, loans from friends and family or personal loans from banks or online lenders whose funds they use toward building their businesses. Another option is to try your hand at crowdfunding, in which generous strangers who believe in your business donate small amounts of funds toward your project.

Start Your Dream Business

5. Find suppliers and create your jewelry

Now that you’ve laid the proper legal and financial foundations for your business, you can start creating your jewelry with an eye toward selling.

If you haven’t already, you’ll need to purchase wholesale jewelry-making tools and equipment, including proper safety equipment, as well as the necessary materials to create your jewelry. It can be useful to ask other jewelry designers about trustworthy wholesale suppliers; otherwise, put in a little elbow grease and research, research, research. It can also be useful to get a reseller license so you can forgo paying local sales taxes when you buy in bulk.

6. Sell your jewelry

Once you’ve built up a solid inventory, you’ll need to find somewhere to sell it. Most likely, your primary sales channel will be an online store.

You could consider building your store through a service like Shopify, which makes it easy for entrepreneurs to create and manage their e-commerce stores. These services are often loaded with useful features, like custom sales reports and analytics, customer relationship management tools and built-in marketing tools.

Either before or as you sell your goods on a dedicated online store, you can sell your products on e-commerce platforms like Amazon, Etsy or eBay (or a combination of the three). These platforms are especially valuable for new entrepreneurs, as millions of customers are scouring these sites every day for products like yours — so leverage them for their built-in traffic. These sites can also be useful testing grounds to see which of your products sell over others, and at which price points.

Regardless of which platforms you’re using to sell your jewelry online, it’s worth investing in a professional photographer (or a good camera, if you can use it yourself) to photograph your jewelry in good light, at several angles and both on and off a model. Product photography can often make or break a sales decision, so quality photos are integral to creating a trustworthy brand.

You should be selling your jewelry the analog way, too. Start by selling to your friends and family, and let your brand grow via word of mouth. You can also become a vendor at flea markets and crafts fairs, or approach local retailers and ask if you can host a pop-up shop or sell your jewelry on consignment in their stores. Make sure you create business cards, which include links to your online store and social media channels, that you can keep at the till.

7. Establish your brand and start marketing

As you establish your sales channels, you should also start to establish your brand identity and implement a small-business marketing strategy. Creating a logo is a great starting spot, and it’s critical for establishing your business’s aesthetic. If you can’t find a graphic designer in your network to create one for you, there are plenty of logo-making services online.

As you grow you can start to implement paid marketing strategies, like Google Ads. But when you’re first starting out, it’s a better idea to take advantage of all the free marketing strategies at your disposal, and social media marketing is an absolute must. Which platforms will be more successful for your business depends largely upon which platforms your audience engages with the most. But to start, set yourself up with a business Facebook page, Instagram and Pinterest board, and make sure to include links to your online store (or your brick-and-mortar location’s address) in your bio.

In order for prospective customers to find your website via search engines, your site and blog (if you have one) need to be optimized for SEO. Shopify stores come with SEO best practices, but if you’re using another e-commerce or blogging platform, then it’s worth brushing up on some essential SEO tactics, which you can keep in mind every time you create content online.

Remember that building an engaged audience on social media — and, on a larger scale, establishing a brand identity — both take time. But the key is to remain active and engaged. Try to post at least once per day on your social media channels, respond promptly (and kindly) to any comments you receive on your posts and vary the types of content you’re posting.

The bottom line

The work certainly doesn’t stop once you’ve launched your jewelry business; in fact, it’s just the beginning. But don’t get so mired in the business side of things that you lose sight of why you started your jewelry business in the first place: the love of your craft, which the most successful artists never stop honing. So even if you’re a trained jeweler, consider continuing your education with online or in-store classes. If you don’t want to sacrifice a part of your business budget for educational purposes, you can find solid jewelry-making tutorials on YouTube for free.

Keep in mind, too, that starting a business is a time-consuming task, even if it’s just a side hustle. If you’re serious about your venture, make it a priority to carve out enough time in your schedule to dedicate toward launching and managing your business, even if that’s just an hour at the end of the day to work on a piece of jewelry, create a few social media posts or check up on your sales reports or marketing performance.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

Beginner’s Guide to Starting Your Own Jewelry Business

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You’ve got a talent for jewelry design and making. Now you’re thinking about starting a jewelry business (or maybe you’ve already started)!

Now, jewelry making and selling your jewelry are two entirely different things. There’s a lot to consider when making the transition from a jewelry side hobby to a money making business.

Start your home-based online jewelry business

If you are an artist like me, you might not naturally think about how to launch a jewelry business the right way. When I started my first jewelry business in college, it wasn’t some master plan I carefully thought out. It just sort of…happened. 

I’d been selling jewelry to my family and friends and my client base was expanding beyond my personal network. At that point, it made sense to try starting a legit jewelry business . While it sounded good on paper, my creativity got in the way, and I ended up making some big mistakes.

They say time is money, and I don’t want you to waste your time making the same mistakes I did. I put together this 11-step plan for starting a jewelry business from home and setting up your business the right way.

Have You Heard About Our Step-By-Step Programs That Have Helped Over 7,500 Jewelry Designers and Makers?

If You Don't Have Your First Customer…

If you're brand-new and need help starting your first jewelry business, check out our How to Start a Jewelry Business ‘Quick-Start' Program designed to help you get up and running so you can start making sales without all of the overwhelm.

If You Already Have Paying Customers…

If you already have customers, check out our signature program, Laying the Foundation , so you can move beyond ‘friends and family, refine your jewelry collections, and make consistent sales with less effort.

Step 1: Define your Niche

The jewelry industry in the United states is expected to reach $480.5 billion by 2025 . Although extremely competitive and saturated, this market still offers plenty of  opportunity for new designers and savvy entrepreneurs who can carve out a niche. 

Narrow down your jewelry category

Successful jewelry businesses need to have a clear vision and understanding of their niche style and market. In order to define your niche, you should first determine which type of jewelry you want to sell. Understanding the market your jewelry caters to will help you identify your target audience and competition in order to discover trends and opportunities.

While there are many types of jewelry, most accessories fall under 3 main categories:

Costume Jewelry

Costume jewelry is your everyday, fashionable accessories made out of a range of materials such as metal, copper, wood and plastic. Since costume jewelry is meant to mix and match with style, it is affordable and usually costs under $100. 

Fine jewelry

Fine jewelry describes precious stones like diamonds, gemstones, and rubies and metals like solid gold and sterling silver. This type of high quality jewelry is considered luxury and tends to have a higher price point than costume jewelry. A piece of fine jewelry can range anywhere from $100 to $3,000 or more. 

A designer who sells fine jewelry will have a completely different market than one who designs costume jewelry.

Handmade jewelry

The demand for handmade jewelry has become extremely popular over the last decade thanks to sites like Etsy which have allowed independent, creative artists to sell their jewelry online. Handmade jewelry is usually made-to-order, not mass-produced. 

From engraved deer bone bracelets to necklaces made from recycled skateboards, handmade jewelry is perfect for carving out a niche, however it can be a challenging business model to produce at scale. This type of jewelry ranges in price depending upon the materials and labor involved in the production.  

Identify jewelry trends

Staying up to date with the latest jewelry and fashion blogs, following influencers, and industry specific publications helps you discover new and upcoming trends in your space. 

Current events and culture shifts also lead to emerging trends, so keeping your eyes on parallel industries and economic factors can also help identify new consumer habits and needs. 

Step 2: Understand Your Potential Customers (And Why They Want Your Jewelry)

Fun fact: the looks and styles that you like might be a little different from the people interested in buying from you. For years, I only designed what I personally liked instead of thinking about who I was actually designing for. 

One of the biggest mistakes in jewelry design is assuming that everyone will like your pieces. When you follow the mentality of “designing for the masses”, chances are you’ll end up losing the features of your work that make you unique and special. Even worse, you’ll likely lose sight of designing for your dream customers. This can put you on a fast track to having to close down your business.

Before you really dive into planning and producing a jewelry line, take a hard look at who your dream clients might be. Take time to research the age range they fall into, where in the world they live, what their day-to-day lifestyle is like, and the type of accessories and styles they prefer. 

You should also take stock of your existing situation. Have certain pieces of jewelry you made sold like crazy while others sat on your shelf gathering dust? Asking thoughtful questions to your previous customers about what made them purchase a specific piece can help you better understand your true customer base and what they actually want to buy from you.

Step 3: Develop a jewelry business plan

Once you’ve found a niche for your jewelry business your next step is to start developing a business plan.

A business plan is a documented roadmap for the future of your jewelry business and ensures an organized strategy to set you up for success. 

A well written business plan answers the following types of questions: What is the purpose of my business? What does the market look like? Who are my customers? How will I finance my jewelry business?  Potential investors and business lenders will often require a business plan before considering working with you. 

A typical business plan includes:

• Executive summary
• Company description
• Market research
• Service/product details
• Marketing and sales plan
• Financial forecast and projections

Sites like Score.org and Bplans offer comprehensive business plan templates free to use.

Step 4: Get Legit! Make Your Business Legal

Your business name is arguably one of the most important steps in starting your own jewelry business and building a successful brand. A business name should be unique and representative of both your message and your jewelry. Ideally names shouldn’t be long or over complicated, in fact two to four syllables are recommended. 

Once you’ve chosen a name, the next step is to research its availability through corporate registries such as trademarks , patents and website domain names. Your website domain name should include your business name. Ideally .coms are the best choice for most businesses. 

Now that you have your name picked out, it’s time to set up a business banking account. When I was in college and beginning my jewelry design career, I was buying supplies on my personal credit card. This became a big issue when tax time came around because it was challenging to show which expenses were personal and which were for business. 

The best way to avoid getting in trouble with the government? Open a separate banking account for your business so you can easily separate personal and business expenses. In the United States, the IRS frowns upon mixing personal and business expenses, and it could even result in an audit. 

The next order of business is to register your business with your state. The requirements and paperwork will depend on your business details and location. The U.S. Small Business Administration suggests that anyone operating a small business register their name with state and local governments. 

In most situations, the only information you need to register your business is your business name, business purpose, and business structure . Remember, registering your business isn’t just for tax purposes, it also helps protect you and your business, too.

Choose a business structure

• Sole proprietorship

Many independent business owners register as sole proprietors where one person handles and is responsible for all of the company’s profits and debts. This is the easiest option and doesn’t require much paperwork aside from industry specific licenses. However, this option doesn’t offer liability protection which can put you and your personal assets at jeopardy. 

The other, safer option is to register as a Limited Liability Corporation (LLC). As an LLC you register at the state level. Your business exists separately from the owner(s) of the company, so in the event of a liability such as a debt, the business is responsible not your personal assets. 

You will also want to check your state’s requirements for any additional business licenses and permits. 

Business Insurance

As mentioned above, liabilities are a risk and making sure your jewelry business is protected is something you should have in place before you launch. Since you’re selling a physical product, jewelry, you should have product liability insurance to protect you against potential injury claims from customers. Additionally, most businesses also purchase general liability insurance which protects you against a wide variety of potential lawsuits such as negligence and advertising damages. 

Step 5: Plan an Entire Jewelry Collection, Not Just Random Products

Each aspect of starting your own jewelry business should be strategized to help you achieve your end goal: making money. A big mistake designers can accidentally fall into is creating jewelry that doesn’t fit into a cohesive collection. While it can be fun to just run with your ideas and follow your heart, that strategy won’t necessarily encourage customers to buy multiple pieces from you at once.

Designing for a collection is important for all jewelers, whether you’re wholesaling your work, selling online, or direct to consumers. A collection of pieces takes your customers on a journey and tells a specific story. This ties each piece in the collection together with a common theme which helps you create a memorable brand. A really good collection inspires customers to buy multiple pieces and look forward to immersing themselves into the story of each release.

Step 6: Price Your Jewelry Correctly

Your jewelry line should be pricing appropriately based on the quality and value of your materials and design work. Many designers fall into the trap of competing with the ultra low prices of mass-produced jewelry from overseas. While you might be tempted to compete on price, we highly encourage you to fight the urge and price at what you’re truly worth . Otherwise, designers are likely to end up disheartened and scraping by financially.

If you’re worried about overcharging or are just unsure how to price your jewelry, try this exercise. On a sheet of paper or Google doc, write down all the value you bring to your customers with your jewelry line. This list should include the cost of the materials and tools, but also the experience you bring to the table, time you invest to create something unique, attention to detail, and the heart you put into giving each customer a special experience. Are you surprised by how long your list is? That’s the value you provide, and you shouldn’t be afraid to ask to be compensated for what you’re truly worth. 

Step 7: Create Your Jewelry Marketing Plan

Remember that old saying, “build it and they will come”? Unfortunately, these days, that’s not really how things work when it comes to starting your own jewelry business. Just because you have an incredible product, doesn’t mean your audience knows about it or how to buy it!

It’s up to you to make sure your dream audience know about your jewelry line. Take time to create a strategic marketing plan that you continually work on year round so you’re always marketing! A successful marketing strategy requires multiple channels, or tactics, to truly achieve your brand goals. 

Here are a few marketing channels to consider using to promote your jewelry business:

• Social Media 
• Email Marketing
• SEO (Search Engine Optimization)
• Video Content Marketing 
• Virtual Events or Shows
• Pitching for Publicity Features in Magazines or Websites
• Networking Events
• Trunk and Trade Shows
• Special Events and Expos

Start by selecting a few marketing tactics and create a strategy for each in your marketing plan. Once you’ve mastered those, add on one or two new strategies to expand your plan over time. For example, start with one social media channel, like Instagram. Once you feel confident in your social media posts on that platform, you can add on Facebook, and so on. 

Step 8: Decide How to Sell Your Jewelry

Now that you’re armed with a fantastic jewelry line and business plan, it’s time to introduce your designs to the world. You need to determine which platform you will use to start selling your jewelry.  

Select an online platform

Since jewelry is fairly easy and low cost to ship, developing a website and ecommerce platform is recommended, even if you plan on opening a jewelry store. Affordable, website hosting options such as WordPress and Wix offer easy to use functionality and beautiful, customizable templates with the options to integrate an ecommerce platform.  

Shopify and BigCommerce allow for easy set up of professional looking ecommerce stores without needing any prior web design experience. They also provide traffic and sales reports as well as built in marketing features to help you promote your store. 

Third party sites like Amazon, Ebay, and Etsy are also great options as they come with existing audiences of thousands of potential customers. The competition on these sites is stiff but with strong marketing efforts, quality jewelry and solid customer service you can build positive reviews and a good reputation for your brand.

Brick and mortar store

In addition to selling online, you might also want to consider opening a physical jewelry shop based on your location and target market. Choose a space that represents your style and brand and creates a memorable customer experience.

 It’s important to choose a location that is easily accessible that offers parking or has frequent foot traffic. Consider other factors such as businesses and others in the community that might attract a similar audience and consider partnering with them. Rent should be factored into your startup costs and will also determine the size and location of the space. 

Trade shows

Trade shows can be a great way to meet new buyers and expand your market, but only if you've done your research on the show, the buyers, the market, and your ROI. They are very expensive and we’d only suggest investing in shows that attract your DREAM buyers. Additionally, consider tradeshows a marketing expense. If you were unable to make any sales from the show, would that be financially devastating to your business?

Step 9: Build Your Own Online Store With an E-Commerce Website

We encourage our students to avoid third party websites like Etsy, and create their own branded website instead. While Etsy might seem like an easy, quick fix, it can actually make it more difficult to establish a strong brand and grow your fanbase long-term. 

In contrast, a personal online presence gives your brand a sense of legitimacy. It also allows you to capture prospects or leads, and creates a place you can completely control for people to learn more about you. When done strategically, this can result in more sales over time than you might have on a third party sales platform. 

Even if you're not a coder, you can build your own jewelry website. These days there are website platforms like Shopify , Squarespace, and so many others that have easy-to-use website building features to make it simple to DIY your own website. If you need a helping hand to get you pointed in the right direction, check out the Websites That Sell Bundle that puts our students on the fast track to a beautiful site that sells.

Step 10: Understand Your Business Finances & Cash Flow

In order to project what expenses you will incur, it’s important to understand how much money you will need to fund the business yourself or ask from a lender. 

What are the costs involved in starting your own jewelry business? That answer largely depends on the type of jewelry you want to sell, where you want to sell it, and your business model, so determine your startup costs first.

There are many factors involved in the types of costs you might incur but here is a list of some considerations:

• A brick and mortar store
• Website/ Ecommerce platform
• Jewelry supplies/inventory
• Jewelry making equipment
• Licenses and permits
• Advertising and marketing
• Get Funding

First, you should set up a business bank account to keep your personal and business finances separate, especially if you plan on funding the business yourself. If you need a loan, a commercial loan from a traditional bank is the best place to start, however these types of loans can sometimes be challenging to secure. The SBA also provides small business loans you can apply for online. Don’t forget alternative options like crowdsourcing or asking family and friends.

Step 11: Invest in Your Long-Term Business Growth Strategies

The biggest mistake I ever made when first starting a jewelry business was not investing in my business or asking for help. I waited until it was too late. Make sure that you enlist the support of mentors and educate yourself about the things you don’t know. Always be learning and growing. Learning from experienced experts also saves you precious time so you can achieve your goals even faster.  

If you’re interested in starting your own jewelry business (even if it’s a home-based business), do the right thing and don’t make these mistakes. Create a plan, get your business-y stuff in order, and design collections that are cohesive and priced the right way. Learn how to start a jewelry business from those who have done it successfully .

Ready to start, but not quite sure where to begin?

Grab our FREE guide for new jewelry designers who are ready to make a living by following their passion…

The steps we’ve outlined will get you on the fast track to starting your own jewelry business!

In the comments below, I’d love to hear from you:

Do you have an at home-based or startup jewelry business? If so, what are your biggest hold ups for moving your business forward?

Are you clueless or confused about how to turn your passion for jewelry making into a business? Join the quickstart program !

How to Start a Jewelry Business

On This Page:

Steps To Opening Your Own Jewelry Business

How big is the jewelry industry, what are the key segments of the jewelry industry, what external factors affect the jewelry market, who are the key competitors in the jewelry market, what are the key customer segments in the jewelry market, what are the typical startup costs for a new jewelry business, is owning a jewelry business profitable, what are the keys to launching a new jewelry business, how to start a jewelry business faqs, helpful videos, additional resources.

It’s no secret that the jewelry industry has seen an increase in popularity over the years. With more people looking to make a profit selling their handmade pieces, it can be difficult to know where to start.

Luckily for you, this article will guide you through what you need and how to start a jewelry business.

Many fortunes have been made in the jewelry business. Whether you’re looking to start a jewelry manufacturing business and/or run a jewelry store, you have come to the right place since below we will show you how to launch a successful jewelry company.

Importantly, a critical step in starting an jewelry business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here .

Download our Ultimate Business Plan Template here

Find a niche.

Finding jewelry items that are popular within your community is important for this business. You need to know what you will be selling, so finding fine jewelry pieces that people want is key. Remember to consider who your target audience will be and how much they can afford to spend on the jewelry you make.

Choose a jewelry style.

There are many different jewelry styles that you can choose to create. Depending on your tastes, finding jewelry with different styles is up to you. Narrowing down the jewelry styles that are popular in your area will help you start selling faster. You could even combine jewelry styles if there is a piece of jewelry people seem to be looking for but they do not know where to find it.

Create a jewelry business plan .

A jewelry business plan is important to have so you can map out your goals and what you will need to do to achieve them. This document should also list your estimated expenses, as well as potential sources of income. Having a jewelry business plan will help you stay on track while running your jewelry business.

Produce quality pieces.

Quality always comes first when starting a jewelry business. Your customers need to trust that the jewelry they are buying is worth the price. Make sure all of your pieces are made with precision and care and take the time to perfect each one before selling it.

Market your jewelry.

No matter how good your jewelry is, if no one knows about it, you will not make any sales. Use different marketing techniques to get the word out there about your jewelry line. Some popular methods include using social media posts, setting up your own website and the online store for selling jewelry online, and participating at local craft fairs.

You may also choose to launch your own jewelry store.

The jewelry business is a great way to make a profit while doing something you love. With a little bit of hard work and dedication, you can be on your way to starting your own jewelry business. Remember to always put quality first and take the time to perfect each piece before selling it.

The jewelry market size in the US is expected to reach $57.96 billion and is expected to increase at an annual growth rate of 0.8%. This is due to the increasing use of technology and the digital platforms that propel the demand for luxury jewelry globally.

The market is broadly divided into three key segments: luxury jewelry, fashion jewelry, and costume jewelry segments.

Luxury Jewelry

Luxury jewelry includes fine jewelry products created from 18-karat gold, pure platinum, or sterling silver. The jewelry tends to be finely crafted and is often ornate in design—the type usually worn by celebrities on the red carpet at movie premieres and other high-profile events. The luxury jewelry segment is subdivided into high-end and mid-priced jewelry.

High-end jewelry : This segment includes jewelry that is handmade and retails for more than $1000 per piece.  Some jewelry in this segment can cost hundreds of thousands or even millions of dollars.

Mid-priced jewelry : This jewelry is also handmade, but retails for between $100 to $1,000 per piece. The mid-priced jewelry segment may also include jewelry that is not handmade.

Fashion Jewelry

The fashion market includes jewelry that typically costs less than $100 per item. These jewelry pieces are mass-produced in factories, intending to be fashionable jewelry that appeals to a large market segment. This segment is further subdivided into contemporary and traditional segments.

Contemporary segment : This jewelry is made out of low-cost materials, such as plastic or brass, and uses quartz or battery-operated movements. The contemporary segment includes jewelry that has a modern design and often uses new materials.

Traditional jewelry : This segment is often characterized by classic, timeless jewelry design. It usually uses semi-precious stones and semi-precious metals. This jewelry may be dainty or ornate, depending on the style of the piece. This jewelry has more than one metal component (i.e., jewelry with base metal and plating).

Costume Jewelry

The costume market includes jewelry that typically costs less than $50 per piece. The term “costume” refers to jewelry that is made out of cheaper materials, such as plastic or glass. Costume jewelry is usually made from base metal alloys with few precious metals, which results in jewelry that is inexpensive and can be mass-produced. The costume jewelry segment is further divided into the designer and non-designer segments.

Designer jewelry : This jewelry adheres to the quality standards expected of jewelry in the fashion jewelry segment. The designer costume jewelry segments include jewelry pieces created by well-known designers, such as Kenneth Jay Lane and Adriana Orsini.

Non-designer jewelry : Generally speaking, this type of jewelry has simpler designs, and is made from less expensive materials. It is not created by a well-known jewelry designer.

The key difference between selling costume jewelry and fashion jewelry is cost. Generally speaking, the higher the price point, the more likely it is to be considered either fashion or luxury jewelry rather than costume jewelry.

Several external factors can affect the jewelry business. These factors can include the following:

The economy

The jewelry business is closely linked to the overall economy, as people tend to reduce their spending on luxury items during tough economic times. Jewelry is often considered a luxury item, so when the economy is weak, demand for jewelry typically decreases.

Changes in fashion

The fashion market is constantly changing, as new trends emerge and old ones disappear. If a jewelry company doesn’t keep up with the latest trends, it may find itself struggling to stay afloat. To stay relevant in the market, jewelry companies need to keep up with the latest fashion trends. If jewelry companies don’t do this, they can quickly find themselves out of business.

The global jewelry market includes jewelry manufacturers, traders, wholesalers, retailers, and designers.

Jewelry manufacturers

Jewelry manufacturers are the companies that design and produce the jewelry. They create jewelry in mass quantities.

Jewelry traders

Jewelry traders purchase jewelry in bulk quantities to resell them for a profit. They buy jewelry from jewelry manufacturers and sell it to jewelry wholesalers, local retailers, and other jewelry designers.

Jewelry wholesalers

Jewelry wholesalers are middlemen that work with jewelry retailers to bring in fine jewelry products from the manufacturer to sell directly to consumers at a much lower price.

Jewelry retailers

Jewelry retailers are businesses that specialize in the sale of jewelry. They may sell jewelry that they have designed themselves, jewelry that has been manufactured by another company, or jewelry that has been imported from other countries. Jewelry retailers are businesses that sell to the general public, local businesses and sometimes they also sell jewelry in their own online store.

Jewelry designers

Jewelry designers create handmade jewelry for other businesses to sell. They may work with a jewelry manufacturer to design and create jewelry, or they may design jewelry and then have a jewelry retailer sell it in their jewelry store or on online marketplaces.

There are a few key customer segments in the market.

Mass market

This customer segment consists of consumers who are looking for affordable, everyday wear jewelry.  They are looking for jewelry that is stylish, but not too expensive. Most jewelry sold at regular jewelry stores is in this category.

Middle market

The mid-market consists of consumers who are looking for jewelry that falls somewhere in between affordable and high-end. This customer segment consists of consumers who are looking for jewelry that can be worn on special occasions but is still affordable. Consumers who make purchases in the mass market may consider jewelry from middle-market retailers like David  Yurman or Zales.

Luxury market

This customer segment consists of consumers who are looking for high-end fine jewelry.  Consumers looking for jewelry in this category are mostly interested in jewelry that has designer names. The jewelry itself may be considered high-end, but the price is still very much affordable for people with higher incomes. Tiffany & Co., Harry Winston, and Cartier are examples of jewelry brands that target this particular customer segment.

This customer segment also consists of jewelry buyers who are looking for jewelry that they can wear on special occasions but is still expensive enough that it is not seen as unattainable by other consumers. Consumers in this market are willing to pay a high price tag for jewelry if the jewelry has significant meaning attached to it.  One of the jewelry brands that target this customer segment is Rolex, jewelry boutiques in Beverly Hills, and Saks Fifth Avenue.

Designer market

This customer segment consists of consumers who are looking for unique, one-of-a-kind jewelry. These consumers are often willing to pay a higher price for fine jewelry that is unlike anything they can find at a regular jewelry store or an online jewelry business through an ecommerce platform or online store.  This market is typically served by designers who have their own jewelry lines. Some examples of designers who target this customer segment are Alex Woo, Monique Lhuillier, and John Hardy.

To start a jewelry business can be very lucrative, but there are some initial costs that you’ll need to cover before you can get started. The most important of these costs is usually the purchase of jewelry-making supplies and tools. You’ll also need to budget for paid advertising and marketing, as well as for a place to sell your jewelry.

Here’s a breakdown of some of the typical startup costs for a jewelry business:

• Jewelry-making supplies and tools : $100-$1,000
• Advertising and marketing : $100-$1,000
• Website development : $500-$2,000
• Booth rental at trade shows : $200-$1,000
• Jewelry store (if applicable) : $100,000 – $250,000 to build

These are just some of the costs you’ll incur when starting your business. Be sure to budget for other incidentals, such as shipping. Here are some additional initial costs for a jewelry business:

Licenses and fees

Another expense is your license and permit fees. These fees vary from state to state but typically cost several hundred dollars. You will also need to register your business with the state and federal governments.

Another major expense for many businesses is insurance costs. These costs can also vary widely depending on what type of insurance coverage you need in particular areas of your business. For example, business property insurance is very different from general liability insurance.

Legal and accounting services

If you are not familiar with legal and accounting terminology, it is a good idea to hire a lawyer and an accountant to help you set up your business properly. These services can be expensive, but they are well worth the money to avoid any future legal problems or financial mistakes.

By taking the time to understand these costs and prepare for them, you can give your business the best chance for success.

Starting a jewelry business can be quite profitable. If you’re able to satisfy your customers, they’ll likely become repeat customers and tell their friends about your store. This will help you grow your business over time. Just make sure to keep overhead costs low and price your products appropriately.

There are a few key things that you need to do to start a successful jewelry business.  Here are the most important ones to help get you started:

1. Write a Jewelry Business Plan

A business plan is essential for any new business, and this is especially true for a jewelry business. Your business plan should include market research, your product line, your marketing strategy, your financial projections, and more. This document will help you stay on track and make sure that you are covering all of the important bases as you launch your new business.

2. Choose the Right Location

When starting your own jewelry business, it’s important to choose a location that will be conducive to success. You’ll want to find a space that is accessible to your target market and that has plenty of traffic. You’ll also want to make sure that you have the necessary tools and equipment to run your business effectively. Or, if you are selling online or via wholesale, you will not need a physical storefront.

3. Have a Strong Branding Strategy

Your business needs a reliable jewelry brand identity to be successful. This means developing a clear vision for your company and crafting a unique identity that will set you apart from the competition. It’s important to stand out in a crowded marketplace, and effective branding can help you do just that.

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4. Invest in Quality Equipment

To produce high-quality jewelry, you’ll need quality equipment. When starting a jewelry business, it’s important to invest in machinery that will enable you to create the products that your customers want.

5. Build a Strong Customer Base

To be successful, a business needs to build a strong customer base. This means attracting your target audience, retaining existing customers, and building a jewelry brand reputation. There are many ways to do this, including offering quality products, providing excellent customer service, and running marketing campaigns that target your ideal audience.

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

What are the most popular jewelry pieces to sell?

The most popular jewelry pieces to sell are probably necklaces, earrings, and bracelets. However, it depends on your target market.  If you're targeting older women, then more classic jewelry pieces like necklaces and earrings will be more popular. If you're targeting younger women, then bracelets and trendy jewelry will be more popular.

If you are just beginning your business, it's also a good idea to meet with an expert who can help you determine exactly what jewelry pieces sell the best in your market. They should be able to provide you with advice about creating new jewelry pieces based on current jewelry trends and fashion choices.

Meet with a jewelry consultant at least once before opening your store so they can assess your current inventory and suggest future purchases. Their job is also to enhance the impact of jewelry items by pairing them with matching jewelry and scarves, as well as jewelry stands and boxes.

Do I need a business license for my jewelry business?

The business license requirements are different in every state. A jewelry business may require a local license, which can be obtained from the local tax office. Some jewelry businesses may need to register with the state and get a tax ID number. However, the jewelry license requirements vary considerably depending on your location and whether you make jewelry for sale or not.

Jewelry business guidance can be obtained from jewelry trade associations. It is advisable to check with local jewelry organizations for the best advice on jewelry licensing requirements.

How can I make my jewelry stand out from the competition?

There are a few ways you can make your jewelry stand out from the competition, such as by using unique and unexpected materials, by creating bold and eye-catching designs, or by targeting a specific niche market. You can also promote your jewelry line through social media channels, or by participating in local craft fairs and other events. You can also start your online store where you can post images of your jewelry pieces. By taking the time to create a strong branding strategy and marketing plan, you can help your jewelry business succeed in today's competitive marketplace.

What type of insurance do I need for my jewelry business?

When starting a business, you will need to ensure you have the appropriate insurance in place. Your business insurance should include product liability insurance to protect you in case any products you sell are found to be defective.

You should also consider property insurance to protect your business premises and contents in case of fire, theft, or other damage. If you transport jewelry or other valuables for sale, you will also need cargo insurance.

What are the industry standards for pricing jewelry pieces?

When pricing jewelry pieces, it is important to take several factors into account.  The main factors to consider are the cost of materials, the time it took to make the jewelry (if you create handmade jewelry), and overhead costs. In general, jewelry prices fall into one of three categories: high-end, mid-range, or budget.

High-end jewelry is typically made with expensive materials such as gold and diamonds. The pieces often take a long time to make and have intricate designs. As a result, high-end jewelry typically has a high price tag.

Mid-range jewelry is made with less expensive materials such as silver and semiprecious stones. The pieces may not be as intricate as high-end jewelry, but they still require a good amount of labor to create. As a result, midrange jewelry typically has a price tag that falls somewhere in between high-end and budget jewelry.

Budget jewelry is made with the cheapest materials possible. The pieces are often simple and mass-produced. As a result, budget jewelry typically has the lowest price tag of all three categories.

When pricing your jewelry, it is important to find the right balance between quality and affordability. It is also important to stay within the industry standards for your particular type of jewelry. If you charge too much, you may scare away potential customers. If you charge too little, you may not be able to cover your costs and make a profit.

What are some of the common mistakes jewelry businesses make?

There are some common mistakes when one tries to start a jewelry business. One of the most common is not having a jewelry business plan. Without a plan, you won't know what steps to take to grow your business, and you'll be more likely to make mistakes.

Another common mistake is not doing enough research. Before starting your business, learn as much as you can about the industry and your target market. You can search online. This will help you develop a strategy that will be successful.

Another mistake jewelry entrepreneurs often make is pricing their products too high or too low. You need to find the right balance so that you're charging enough to cover your costs and make a profit, but not so much that potential customers won't buy your products.

Finally, jewelry businesses often make the mistake of not marketing themselves enough. You need to create a marketing strategy and execute it consistently to attract customers.

What jewelry supplies and tools should I stock up on?

When preparing to start your business, you'll want to make sure to stock up on basic jewelry supplies and tools. This includes tools like pliers, wire cutters, and a jewelry saw, as well as supplies like wire, beads, and findings. You can find more specific jewelry-making supplies and tools at your local craft store.

Many jewelry-making supplies and tools come in a jewelry kit, so if you're looking to save money but still want the basics, consider purchasing one of these kits. You'll get jewelry supplies and jewelry-making tools at a discounted price plus instructions on how to use the items in the kit.

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Other Helpful Business Plan Articles & Templates

How To Write a Winning Jewelry Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for jewelry businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every jewelry business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Jewelry Business Plan?

A jewelry business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Jewelry Business Plan?

A jewelry business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Jewelry Business Plan

The following are the key components of a successful jewelry business plan:

Executive Summary

The executive summary of a jewelry business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your jewelry company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your jewelry business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your jewelry firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a jewelry business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the jewelry industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a customer for a jewelry business may include:

• Engaged couples who want high-quality diamond engagement rings
• Wedding parties who want coordinated bridal party jewelry
• People celebrating anniversaries or other special occasions who want to purchase fine jewelry gifts
• Businesses who purchase bulk orders of costume jewelry for company events or as employee incentives

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or jewelry services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your jewelry business via word of mouth or a referral program.

Operations Plan

This part of your jewelry business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a jewelry business include reaching $X in sales. Other examples include adding new product lines, opening new stores, or reaching a certain number of social media followers.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific jewelry industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Jewelry Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Jewelry Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup jewelry business.

Sample Cash Flow Statement for a Startup Jewelry Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your jewelry company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written jewelry business plan is an essential tool for any business owner. If you are seeking funding from investors or lenders, a strong business plan is essential to convincing them to invest in your company.

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Want to Sell Jewelry Online? Learn How to Start a Jewelry Business From Home

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Last updated on April 12, 2024 Writtern By Meredith Flora

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Table of Contents

A snapshot of the jewelry market in 3 stats

How to start a jewelry business in 10 steps, fulfill orders without lifting a finger with shipbob, get started with shipbob, online jewelry business faqs.

While many big box stores and major fine jewelry brands dominate the industry, there is a demand for unique, smaller jewelers. 49% of consumers prefer to purchase their jewelry from small businesses.

The rise of direct-to-consumer (DTC) brands has led to new jewelry businesses popping up and winning market share over traditional brick-and-mortar jewelry stores. 

While it may seem daunting to start your own jewelry business in a competitive market, if you follow the right steps to building a brand that offers something unique for online shoppers, you’ll be on your way toward great success. 

In this post, we’ll discuss everything you need to know on how to start and grow your online jewelry business.

Although highly competitive, there is a great opportunity in building a jewelry brand. Here are some statistics that illustrate the current state of the online jewelry market. 

1. Jewelry industry market size

The jewelry industry is expected to reach $330 billion by 2026. Currently, China and India are the largest consumers of jewelry, followed by the United States.  

Since the jewelry and accessories market is highly competitive, you’ll want to identify a niche or specialty to stand out in a concentrated market.

You can sell jewelry for a target audience and/or that’s designed for a specific purpose (e.g., weddings, prom, themed parties, etc.). When it comes to starting a jewelry line, there are endless possibilities.

Source: Grand View Research

2. Online jewelers continue to rise

70% of consumers reported they preferred to customize their jewelry online, as opposed to in-store. As such, ecommerce currently represents 20% of all jewelry sales.

“Compared to this time last year, our revenue is up 1,000%. And we’re looking forward to our first quarter million dollar month very soon. With a distributed team across the United States, and a customer base that continues to grow across the globe, ShipBob has helped us tremendously.” Torii Rowe, COO & Co-Founder of MANSSION

3. Fine jewelry still has a presence in traditional retail

Sales for fashion jewelry are on the rise on ecommerce platforms. Shoppers are likely more willing to buy jewelry at an affordable price online, rather than pay $1,000 for a piece of fine jewelry that they haven’t been able to try on in real life.

Additionally, there are higher-stakes inventory risks associated with fine jewelry (such as theft, loss, etc.), making brick-and-mortar retail locations common for many fine jewelers.

If you’re looking to start selling jewelry online, you’ve come to the right place. Below we outline the 10 steps to take before launching a jewelry business.

Step 1. Pick your niche and target market

Before you make your jewelry business idea a reality, make sure there’s a viable target market first, preferably one that isn’t over-saturated. When customers start their search online for jewelry, they often have an idea in mind of what they’re looking for already, so always consider the type of customer you want to attract and make sure you understand what they’re looking for. 

Here are some of the most common types of jewelry brands to help you determine what kind of jewelry you want to offer. 

Costume jewelry

Costume jewelry, also known as fashion jewelry, is meant for everyday use. Unlike fine jewelry, costume jewelry is more affordable and costs less to produce because it is made from imitation materials like synthetic diamonds, wood, plastic, brass, copper, and other metals.

A single piece of fashion jewelry should be priced affordably, anywhere between $5 to $300.

A great example is BaubleBar, one of the biggest online brands for affordable jewelry. They first launched the brand by focusing on affordable jewelry pieces. Once they established a reputation, they expanded their product line by offering higher-end ‘luxury’ pieces. 

If you’re thinking of selling costume jewelry, make sure you create a product pricing strategy that’s at an affordable price point, or you’ll miss out on a lot of potential customers.  

Fine jewelry

Fine jewelry is made out of precious metals and gemstones like gold, silver, platinum, diamonds, and rubies. These types of jewelry products are stylish, high quality, and long-lasting. Where fashion jewelry might be worn daily, these pieces might only be worn occasionally or commemorate a special occasion.

For instance, Brilliant Earth is a fine jewelry brand that offers engagement rings and wedding bands, in addition to other pieces like necklaces, earrings, and more. Unlike going to a jewelry store and picking out a ring as is, Brilliant Earth offers an innovative online shopping experience by allowing shoppers to fully customize their ring (e.g., the type of metal, gemstone, shape, etc.) on their ecommerce store.

Fine jewelry products can range from $200 to $3,000 per item (sometimes even more), depending on the type of materials used, size, sourcing, and brand reputation.

Handmade jewelry

The popularity of online marketplaces like Etsy has shown that customers are eager to purchase handmade jewelry and other handmade products from artisans. While handmade jewelry can’t be mass-produced, this is a viable option for business owners who want to make and sell unique jewelry or custom pieces.

Although marketplaces like Etsy offer a great opportunity for jewelry artists to sell their custom work and build a following, it can be highly competitive unless you’re willing to play the role of the jewelry designer and the marketer to attract Etsy shoppers to your store. It’s also hard to scale if you are making each piece yourself, or if the jewelry is made-to-order. 

As you start up your new business, you may want to consider setting up an online boutique and social media platform to establish an online presence (in addition to using marketplaces like Etsy or eBay).

Step 2. Study the competition

Once you know the type of jewelry you want to sell and the audience you want to attract, it’s time to look into the competition. Research their pricing, offers, social media channels and social commerce strategy , reviews, and press coverage, to find out how you can gain a competitive advantage. You’ll want to take notes on what competitors are doing so you can look for ways to further differentiate your product.

For example, let’s say your competitor sells costume jewelry for teens, but their negative reviews mention how quickly the items break. With that information, you may decide to promote how your costume jewelry product is long-lasting or offer an extended returns policy . 

Another potential competitive advantage to look for is delivery speed since fast, reliable shipping can attract customers and build loyalty . Most online shoppers want their products delivered within two days. If you’re looking to offer 2-day shipping and compete with jewelry brands that sell on platforms like Amazon or Walmart, you might want to consider partnering with a third-party logistics provider like ShipBob.

Step 3. Develop a business plan

A crucial part of setting your jewelry company up for success is creating a thorough business plan and setting business goals. Whether you are self-financed or get financing from a bank, kickstarter, ecommerce venture capital , or a fund, you’ll need a detailed business plan.

With a business plan in place, you can set parameters with a jewelry manufacturer, calculate the number of products you need to manufacture, and determine your path to profitability. A business plan also makes you look more legitimate to financiers and makes a great first impression in convincing them to invest.

Step 4. Choose a creative name (with an available domain)

Take the time to come up with a creative name that aligns with your brand’s style, mission, and purpose. Your business’s name is important as it needs to be unique enough so customers remember it and not too abstract that people don’t understand what type of product you sell.

You also want to check out the US Trademark Office to make sure your business entity can be trademarked or isn’t currently trademarked. Even if the name is available, you’ll want to check website domain availability, which you can do on website domain and hosting sites like GoDaddy.com . 

Step 5. Design a product line

If you’re getting into jewelry because it’s your passion, then the product design is the easy part.

If not, there are so many great places to find inspiration, like your favorite jewelry designers, the latest trends, insight from doing market research, and more. If you’re making handmade jewelry, learning the trade via jewelry classes and tutorials will be important.

Once you have your products designed, you need to figure out how to handle production and procuring supplies in bulk.

Step 6. Choose to outsource manufacturing and suppliers or not

Once you have design concepts for your jewelry line, you’ll want to research potential manufacturers and decide whether or not you want to produce products locally or overseas. If you’re hand-making your designs, you’ll need to purchase jewelry-making tools and equipment.

It can be beneficial to also ask other jewelry designers about trustworthy wholesale distributors or look into getting a reseller license so you can forgo paying local sales taxes when you buy in bulk.

Step 7. Devise a unique brand aesthetic

Designing a brand identity will make your custom packaging and marketing materials stand out — which all plays into creating a remarkable unboxing experience . Find a great custom packaging company to partner with, like noissue or Arka, to help make your packaging stand out. 

Don’t forget about your website! Having an online storefront is a great idea so you have a platform where customers can browse your pieces of jewelry. It may be worth hiring a graphic designer to help create a logo and other branding materials for a consistent brand look and feel. 

Additionally, you may want to work with a photographer to get professional photographs of your products. Eye-catching product photography can entice customers to make an online purchase.

Step 8. Develop a marketing strategy

Finding potential customers to get your first sale is a challenge for any new jewelry business. Target your marketing towards the demographics most likely to make a purchase. For example, research shows that younger generations (Millenials and Gen Z) are more likely to make jewelry purchases online, compared to older generations.

As you focus on building a customer base, use the research you compiled, including insight on competition, to develop a multi-channel marketing strategy .

You should incorporate as many channels as possible including:

• Social media – Customers love to research products and reviews before making their decisions. On social media posts, you can highlight what makes your brand different. For example, if you’re focused on sustainability, then post about how your products are good for the environment and add related tags to your posts. Can your jewelry be worn during exercise? Post images and videos of people working out while wearing your jewelry. 
• Email marketing – Contrary to popular belief, email marketing isn’t dead. Growing an email list is one of the best ways to keep your brand on top of mind and  improve customer retention . But beware — sending too many emails to customers can exhaust your list and lead to a high rate of unsubscribes, so be sure to follow email marketing best practices. Keep the email clutter-free. Consider sharing a digital business card for contact and other important information, so potential customers always have it handy.
• SMS marketing – SMS ecommerce marketing is a rapidly growing channel for online businesses. With open rates as high as 95% , you can essentially guarantee that everyone on your SMS subscriber list will see your messages and promotions.
• Paid advertising (Google, Facebook, and Instagram) – Many of the largest DTC ecommerce businesses today grew from ad campaigns on channels like Facebook, Instagram, and Google Ads. Ad costs continue to rise, but they can still be a viable channel for jewelers. If you want to run ads, spend time optimizing your audience targeting so your ads are served to people who are most likely to buy. And choose your channels wisely — what channels perform best for other brands might not work best for you. 
• Search engine optimization (SEO) – Many online businesses rely on social media ads to make sales, ad costs are continuing to rise. With a good SEO strategy and blog content plan , your product listings, blog posts, videos, guides, and other types of owned content can show up at the top of search results and get more traffic without increasing your ad spend. When looking for the right keywords to attract organic traffic, use SEO tools like Google AdWords or Moz to find keywords that have a high search volume with low competition.

Step 9. Build your own online store with an ecommerce platform

Building an ecommerce website is easier than ever due to the numerous ecommerce platforms, apps, and integrations available. Ecommerce platforms are designed to make setting up an online store as seamless as possible. Some of the most popular ecommerce platforms include Magento, Shopify , BigCommerce , WooCommerce , Squarespace , and Wix . 

An alternative to building your own website is to create a store on Etsy, but it’s more suited for handmade jewelry and made-to-order items. And since it’s a marketplace, it’s harder to get exposure and traffic to your Etsy store. Plus, Etsy gets the ‘credit’ for the sale as people won’t necessarily remember your brand, just that they bought on Etsy.

Step 10. Find a fulfillment solution

As you start out, you’ll probably need to store inventory in your home and self-fulfill orders . This might work at first, but as your grow your business, you’ll eventually need to rethink your fulfillment strategy. Once you reach a point when it’s hard to keep up with packing and shipping orders on time, you’ll want to consider outsourcing fulfillment to a fulfillment partner, so you can focus more of your time and energy on other parts of your business. 

There are many reasons to work with an order fulfillment partner like ShipBob for your jewelry business. With industry-leading expertise in fulfillment and logistics, we’ve helped some of the fastest-growing DTC jewelry brands scale their growth by taking care of ecommerce shipping for them.

Scalability

As your jewelry business grows, hiring the right people with logistics and warehousing expertise is a time-consuming process. Finding warehouse space is expensive and can take a while for you to get up and running. With ShipBob, you get access to our entire network of over 50 fulfillment centers , our technology, and our operations infrastructure. 

Amazon made two-day shipping the norm and many small businesses don’t have the resources to support two-day shipping, which can lead to a high cart abandonment rate. With ShipBob, jewelry brands can offer affordable two-day shipping to help compete with retail giants.

“We looked into opening our own  ecommerce warehouses  and hiring employees, but couldn’t come close with what 3PLs charge for picking, packing, and shipping. We’d also be worried about scheduling fulfillment shifts, ordering boxes and shipping labels, and dealing with the extra headaches of running logistics. Our order volume has seen ebbs and flows, and ShipBob has fulfilled over 10,000 shipments per month for us, with Black Friday/Cyber Monday and our summer season being our most in demand times of the year.”  Gerard Ecker, Founder & CEO of Ocean & Co.

Inventory and order management technology

ShipBob’s platform comes with built-in order and inventory management software . Get accurate inventory counts, reorder point notifications, easily create bundles, and more.

“We roll out new products and designs on our website 1-3 times a month and send new inventory to ShipBob each week. It’s really easy to create new SKUs and restock existing ones using ShipBob’s technology, which is especially important with high inventory turnover.”  Carl Protsch, Co-Founder of FLEO

Data and analytics

ShipBob’s free analytics tool gives you the data needed to run a successful jewelry business online by offering full visibility into the entire fulfillment process. Get real-time data on fulfillment performance, transit times, shipping costs, inventory forecasting , inventory distribution (as seen above) and much more. 

“At my previous 3PL, everything was done on spreadsheets and it was very difficult to get the fulfillment data I needed. Now, we’re working with a tech-enabled 3PL that seamlessly provides data to help us make business decisions. ShipBob’s analytics tool is a game-changer and it’s helped me grow my business tremendously.”  Courtney Lee, founder of Prymal

How one jewelry brand grew 1,000% after turning to ShipBob for fulfillment

Whether you’re just starting your jewelry business or taking it to the next level, you may want to consider working with a fulfillment partner to outsource your fulfillment so you can focus on what matters: your jewelry brand.

Take it from growing jewelry brand, MANSSION.

The men’s jewelry line prides itself on making unique pieces in-house, avoiding dropshipping and cookie-cutter designs. This approach made them incredibly popular and grew 1,000% YoY in revenue.

MANSSION was able to hand off order fulfillment to ShipBob and gain a best-in-class partner. Despite their preconceptions of not getting enough attention as a relatively young brand, they found that they were getting white-glove customer support and access to advanced integrations that could support their tech stack.

“I had a misconception that if we worked with ShipBob when our brand was still young, we’d get overlooked since they also work with a lot of really big brands. I’m happy to say that is not the case by any means. We’re given so much attention.” Torii Rowe, COO & Co-Founder of MANSSION

Starting a jewelry business is an exciting endeavor, and it’s never been easier to start a successful business online, but that doesn’t mean it comes with challenges. As you grow your jewelry business, you might find it hard to keep up with fulfilling a high volume of orders. If you’ve reached this point of growth, it might be time to outsource ecommerce fulfillment . 

To learn how ShipBob can help make the process of working with a fulfillment partner easy, connect with our team to get a custom quote.

Here are answers to the most commonly asked questions about online jewelry businesses.

What are the initial costs involved in starting a jewelry business?

There are several upfront costs you should be aware of if you choose to start a jewelry business. Training and education, licenses and permits required to start an LLC, equipment and tools, inventory, website and online store, marketing and branding, packaging and shipping (or fulfillment provider, if you choose to outsource order fulfillment) are some of the most basic expenses needed to start a business.

Selling in a brick-and-mortar store requires additional expenses. You can expect to spend anywhere from a few thousand to a few hundred thousand, depending on your business goals.

How do I determine the pricing for my jewelry products?

You’ll want to consider several factors when determining the price of your jewelry. First, you should calculate the costs associated with producing each piece (including raw materials and labor). Next, you’ll want to determine the amount of profit you want to make from each piece. With those factors in mind, you can determine your initial price point.

However, it’s important to keep pricing in mind since it is prone to fluctuating. You may want to research competitors, listen to customer feedback, and factor in economic circumstances, and adjust prices when necessary.

What are some of the best platforms to sell jewelry online?

There are many ecommerce platforms that are good for jewelry businesses. Shopify, WordPress, BigCommerce, Squarespace, and Square are among the most popular platforms for jewelry brands selling online.

How do I handle shipping and fulfillment for my jewelry products?

If you are just starting your jewelry business, you may opt to fulfill your order from your home or workshop. This means you pick, pack, and ship the orders on your own. Self-fulfillment might initially be a good solution, especially if you handmake your jewelry.

However, as you scale, you may need to lean on a fulfillment partner to fulfill and ship orders on your behalf. Outsourcing fulfillment to a partner like ShipBob allows you to reclaim time previously spent on shipping and put it back into your jewelry business.

What are the legal considerations I need to be aware of when starting a jewelry business?

It’s important to set up your business properly to ensure you are legally able to operate your jewelry business. You should set up a legal structure (such as an LLC), obtain the proper permits and licenses (refer to your local governing body for details), register any trademarks or patents (if needed), formalize agreements with vendors and manufacturers, and abide by employment laws.

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Meredith Flora

Meredith is a Content Marketing Specialist at ShipBob, where she writes articles, eGuides, and other resources to help growing ecommerce businesses master their logistics and fulfillment.

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Writing A Jewellery Business Plan

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Just starting out in the jewellery making industry? Are you looking to start up your own business? Knowing what to do and in what order can be quite overwhelming – particularly where making money is concerned. That’s where writing a business plan can help. This document will act as a roadmap, a place to hold all of the goals you want to achieve with your business – helping you stay on track and on target. So, how do you go about making an online jewellery business plan template? And what sort of points do you need to include in your jewellery business plan? Discover the answer to these questions and more helpful tips along the way, below.

How to write a jewellery business plan

Wondering how to write a business plan? First of all, there are a few key things you’ll want to include. These will help you define your idea, spot any potential roadblocks, set out your goals and measure your progress along the way.

Having a jewellery business plan in place will help you to secure future investment or a loan from the bank, so it’s important that you get it right. It can also be a great way to gain the support of customers, suppliers and future employees.

Begin by making some notes on the following:

• An executive summary. This is simply an introduction to your online jewellery business plan. It should be brief, punchy and make the reader want to continue with the rest of your plan. So, if you want to focus on a particular alloy or a specific style of jewellery, you’ll want to make a note of this here.
• A company overview. Otherwise referred to as a company summary, this needs to include a number of factors. List who will be in the management team, where the business will be, the history of your company, legal structure and your mission statement in this section.
• Key information about the jewellery you’ll sell. Think about how many products you’ll want to sell, what materials are needed, the type of jewellery you’ll be making, etc.
• A marketing plan. This means you’ll need to know your audience. Who are you selling to? Your target market needs to be established before you write it down in your marketing plan. Think about things like age group, gender, location etc. and provide some context for your reasoning behind targeting this market.
• Some company milestones. Setting some milestones for your jewellery making business will help to form your strategy. For example, a milestone could be to launch your shop online. Then write down a due date and allocate one person to be responsible for the ownership of each milestone.
• Map out your team’s responsibilities. Make a note of each member of your management team (even if there are only a couple of you!) and write down a description of their role, their responsibilities and any other key points about the individual, relating to their role.
• Include a financial plan. Not a fan of numbers? Writing a financial plan for a jewellery business may seem a little daunting. However, it is a crucial element of your jewellery business plan to ensure you have a smooth start. You’ll want to include a cash flow statement, sales forecast, a profit and loss statement, balance sheet and a personnel plan.

Advice for writing a jewellery making business plan

Now you know what to include, how do you actually go about writing a jewellery business plan template? Firstly, you’ll want to set out the overall goals for your business. Are you looking to scale up and grow? Is there a certain profit margin you want to achieve? This will have to be accounted for in your jewellery start-up business plan with a vision of the long-term logistics, as well as sorting the current logistics.

What’s more, although writing a business plan for jewellery businesses may seem daunting, it could help you discover some new opportunities too. For example, you may learn about new jewellery trends and different ways of producing your designs, for a cheaper price.

Work methodically through our online jewellery business plan template and you’ll have a much clearer view of what direction you’d like your business to head in. Looking for more business-related advice? Our  Business Advice Hub  is full of helpful guides like this one, to help you navigate the jewellery making industry and start up a successful business.

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How To Start an Online Jewelry Business In 10 Steps

Have you been wondering how to start an online jewelry business?

Maybe you’ve always had an eye for finer things in life. Perhaps you have a vision of the perfect collection in your head, and you’re keen to make your mark in the industry.

Whatever the reason for wanting to create an online jewelry boutique, now’s a great time to start your journey. Worldwide, the value of the global jewelry market is expected to increase from $230 billion (as of 2020) to around $292 billion by 2025 . 

Of course, if you want to get a piece of that market, you need a plan.

Starting a jewelry line and running your own online store can be a daunting challenge. Fortunately, we’ve got ten steps to help you dive in right here. 

Let’s get started.

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1. Identify a Market Opportunity 

Before you start any business, it’s important to know there are customers out there keen to buy from you. That’s why you need to do your research before making and selling jewelry.  

The last thing you want is to spend endless time and money designing a line of DIY jewelry to sell, just to discover that no-one wants it. 

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Fortunately, there are plenty of ways to gather research. Secondary market research sources like  NPD ,  Nielsen,  and  MarketResearch.com  help you track down reports already conducted on your industry. Buying research reports can be a little expensive, though.   

Remember, there are different kinds of jewelry companies that you can consider. Are you interested in selling high-quality fine jewelry? If so, you’ll spend more on your initial materials, but you can also sell for a higher price and maintain a great brand identity. If you prefer costume jewelry, you can manufacture designs for a lower price, but you may need to earn the highest sales.   

Sometimes, it helps to do some of your own product research too. For instance, you can:

• Conduct a competitor analysis:  Check out other online jewelry business competitors on the web and find out what they’re doing right (and wrong). This will help you to differentiate your brand. 
• Run surveys : Go on forums and social media groups to find people interested in jewelry who might be willing to answer some questions about the products they love.
• Bookmark jewelry blogs : There are tons of fashion and jewelry bloggers out there who stay up to date with the latest collections and lines. Visiting their publications can help you discover new and upcoming opportunities in your market. Here’s a list of jewelry sites to get you started.  
• Look at  Google Trends : Tools like Google Trends allow you to search for trending topics in an industry, so you know which items are popular. For example, there's been a recent rise in the demand for charm bracelets, clay jewelry, and resins.

Think about the kind of jewelry stores that you’re interested in too. It helps to choose a space you’re passionate about when finding your niche . That could mean focusing on things like wedding and engagement rings or even trying your hand at statement earrings.

2. Define Your Target Audience

Once you identify a market opportunity for your jewelry business, it’s time to get to know your audience a little better. Identifying demand in your industry and finding the exact audience you should cater to are two processes that go hand-in-hand. 

Whether you’re selling jewelry from home that you made yourself or working with a specific manufacturer, you won’t appeal to every customer. 

Think about the kind of people most likely to be drawn to the kind of pieces you’ll sell. For instance, if you’re selling high-quality diamond engagement rings, you’re looking for people in relationships with a certain level of income. The more you know about your audience, the easier it is to target them with your ads and brand. 

Think about:

• Demographics:  This includes gender, age, income, geographical location, marital status, and other defining features. 
• Psychographics:  The behavior of your target audience, including their interests, dislikes, hobbies, lifestyle traits, and shopping preferences. 
• Needs and pain points:  What kind of issues are you trying to solve for your customers? Why would they come to you?

It’s much easier to compete in a busy market like the jewelry industry if you have a specific niche. For instance, instead of just targeting people who want engagement rings, what about focusing on people who need custom and affordable rings? Or how about putting your audience in specific groups like vintage jewelry lovers, frugal buyers, gifters, premium shoppers? 

3. Make a Business Plan

When you’re learning how to start an online jewelry business, it’s easy to overlook things like business plans. We all want to jump straight into selling, but your  business plan  is crucial for keeping you on the right track. Think of it as a compass to guide you through your company’s growth. 

A well-designed business plan for your jewelry-making business will remind you of your company’s purpose and help you decide where to go next. Potential investors and loan providers will also need to see you have a business plan. People investing in your company need to ensure you’re making and selling jewelry successfully. 

You can find some templates for  business plans online . Most should include:

• Executive summary: explaining your business in a simple way
• Company description: what you do
• Market research: Where are you positioned in your industry?
• Product details: the kind of jewelry you’ll sell
• Funding options
• Marketing and selling plans

4. Make Some Jewelry

Here’s the part that most creative jewelry entrepreneurs love.

Once you’ve got a plan, you can begin to start imagining your jewelry line. Using the research you’ve already gathered about your market, think about how you can take advantage of the trends without making your jewelry the same as everyone else’s.

Consider making collections of jewelry rather than just one piece at a time. A collection can create a deeper relationship with your customer by telling a story. For instance,  Bvlgari has a fantastic collection inspired by jewelry of the past, which helps to define the brand as one with history and heritage. When making your jewelry, remember:

• To educate yourself: Before making jewelry, it’s helpful to acquire some knowledge about production methods so that you can source the right materials and equipment for your business. Resources like the Jewellers Academy and All Free Jewelry Making offer courses that you can sign up to enhance your craft.
• Have the right tools:  Keep a pencil and sketchpad on you at all times for recording impromptu ideas. Software for designing jewelry like Jewelry CAD Dream can really help to bring your vision to life.
• Think about materials:  If you want to make money selling jewelry from home that you’ve made yourself, you’ll need beads, gemstones, clasps, precious metals, wire, and chains. Alternatively, you’ll need a third-party manufacturer who can work with these materials on your behalf to create your vision.
• Make your own samples: Whether you’re working with a third-party manufacturer or you’re making your products yourself, you’ll need some samples that you can show to potential customers. You’ll also need these samples for product photography . 

Remember to take a lot of beautiful photos of your jewelry for your website and product pages. This is your chance to show off what you can do.

5. Find a Jewelry Manufacturer

When you’re thinking about how to get into the jewelry business, it’s important to think realistically. You may be able to make some cash by making products on your own and selling them online. However, making your own jewelry takes a lot of time and effort. 

If you want to launch and scale fast, finding the right manufacturer is key. 

Think about how you’re going to get the products made. You can work with smaller manufacturers who will make the jewelry for you based on your designs or buy wholesale jewelry from bigger companies. 

• Jewelry quality:  Make sure you can trust your manufacturer to create genuine pieces from the materials you ask for. If you promise customers sterling silver and they get painted metal, your company will crumble fast. 
• Get samples first:  Ask your manufacturers for samples of the materials you’re going to be using so you can check the quality. When you’re convinced that you’re getting something valuable, you can start ordering in bulk. 
• Location: An overseas manufacturer might be cheaper when you want to jump into action fast. However, it can also take longer to get items to your customers. Working with a local jewelry vendor could lead to a better brand reputation. 

Another option is to use a dropshipping business model . This is when you set up a jewelry store and list items on your website. When a customer buys a piece from your store, a third-party supplier fulfills the order on your behalf. You don’t hold any inventory – this can be perfect for entrepreneurs who want to focus their time on promoting their business rather than worrying about order fulfillment. 

Entrepreneurship, side hustle, yearly project – whatever your reason for starting a jewelry business online, dropshipping can take a lot of pressure off your shoulders. 

6. Build Your Brand

People buy from companies they have an emotional connection with.

A brand allows you to build affinity with your target audience so they fall in love with your mission, vision, and products. A good brand needs a  memorable brand name , a stunning logo, a powerful website, and a striking color palette. 

Fortunately, you don’t need to be a brand expert to create something impressive. There are tons of great tools online to help you. For instance, Shopify has its own:

• Video maker
• Domain name generator
• Business name generator
• Slogan maker

Each tool is pretty simple to use. For instance, I just had to enter the word ‘jewelry’ in the slogan maker, and it generated thousands of cool suggestions in 15 seconds. Check them out.

If you’re struggling to create all of the branding assets you need on your own, check out the freelance design talent available on Upwork, Fiverr, and DesignCrowd too. 

7. Select a Price Point for Your Products

Choosing the right price for your jewelry items is crucial.

Price your products too high and you might send customers running. Choose a price that’s too low and you risk convincing buyers that you’re not offering quality products. 

Start by thinking about how much it costs to make the items. This “cost of goods sold” includes things like labor, production, and material costs. You’ll also want to think about the overhead costs of running your store. Are you going to have a physical location to store items, like a warehouse? How much will you pay employees, and what will the shipping cost you?

It’s up to you to choose how much you’re going to charge to recoup the cost of your items and make a little profit. For instance, you might use the keystone markup method, where you double the price it costs to make the product. 

Here are some  pricing strategy options to help you. 

8. Start Marketing

You’ve got your products, your prices, and you’re ready to start making cash.

Of course, you’re going to need to make people aware of your products first.

Marketing is an important part of learning how to start an online jewelry business. The good news is that there are tons of ways to get your name out there.

If you’re targeting a wide digital audience, then you might start by running Facebook Ads . Facebook advertising is popular because you can get really specific with your targeting. If you’re selling wedding rings, you could even target people who recently updated their status to “engaged”.

If you’re trying to build a long-term strategy for traffic, you can experiment with ecommerce SEO and make sure you’re ranking for terms in your local area. For instance, you might fight for phrases like “diamond rings in SoHo.” 

Email marketing is one of the most effective ways to build long-term relationships with your audience, which is great when you’re trying to sell multiple jewelry items to loyal customers. You can also experiment with influencer marketing . Check out this inspiring post fr om @carolinejsanchez on Instagram:

9. Set Realistic Sales and Distribution Targets

What do you realistically expect to accomplish with your jewelry store? When you’re learning how to make jewelry to sell online, you need to have goals in mind. Sales and distribution targets will give you something to work towards, but don’t push yourself too hard.

Maybe you can start by hoping to grow your revenue by about 25% every year you’re in business. A growth-oriented goal will make it easier to track your progress because you can use real numbers to guide you. The same goes for distribution if you’re learning how to sell other jewelry items from manufacturers online.

10. Start with a Soft Launch, Then Seek Opportunities

Finally, once you’ve set up a presence and have your jewelry collection ready to go, start with a soft launch. This is when you can start putting your brand plan into action and showcasing your marketing strategies in your industry. Remember, start slow, with a soft launch and look for opportunities to learn as you go.

Once you know that your company is making money, you can start looking for ways to grow your business with support from other companies. Find retailers who sell jewelry products similar to yours and see whether you can create a partnership.

If you think that you need extra capital to grow, look into investment opportunities, and make sure that you have your business plan ready to impress. You could even give possible investors some free samples so they can see the quality of your products.

Jewelry Business Store Examples

Let’s go through a few great Shopify jewelry stores to inspire your business.

Wolf Circus

Wolf Circus sells fine jewelry products, all of which are handmade in Vancouver, BC. The online store promotes itself as a go-to resource for “attainable luxury,” aiming to inspire people to embrace their confidence in their daily grind. Full marks for the mission statement!

Revival Jewelry

Revival Jewelry is a one-of-a-kind jewelry store with a patent-pending technology that allows customers to store personalized photos into elegant jewelry pieces. They can view the image by holding the jewelry an inch away from their eye to peek through the gem. The brand does an excellent job of showcasing this in their homepage video, creating an exciting feeling that immediately attracts impulse shoppers.

Hoochie Mama

What an interesting name, but let’s focus on the business for now. Hoochie Mama is a UK-based jewelry store selling multi-brand necklaces, earrings, bracelets, and more. What sets it apart is its elegant product photography – you can see the high-quality shots of their products throughout their site. Plus, the store hits all the right notes with its product pages where they showcase detailed item descriptions, rich images, and links to their returns and customer care pages.

Get Out There and Sparkle!

At this point, you should know how to launch a jewelry brand online and start making money. Just remember that it’s going to take time and effort to ensure that you get the right results. You’ll need to do your research, consider your customers, and pay close attention to the market changes as your brand evolves.

The steps above will give you the guidance you need to put your jewelry store together, but it’s up to you to make sure that it outshines the competition.

Want to Learn More?

• How to Pick the Best Shopify Theme for Your Ecommerce Store
• Branding Your Ecommerce Business – a Step-by-Step Guide
• How to Start an Online Clothing Business
• How to Start Online Business That Will Succeed In 2021

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In fine jewelry and watches, sustainability shines through

It used to be that when people shopped for fine jewelry or premium watches, the first factor they’d consider would be the design of the item. That’s changed in the past few years: many consumers now look first for a brand that they like. And younger consumers won’t even consider a brand that doesn’t prioritize sustainability. In this episode of the McKinsey on Consumer and Retail podcast, McKinsey’s Tyler Harris and Alexander Thiel discuss the “sustainability surge” and other major shifts in how consumers buy fine jewelry and premium watches—and the implications for brands and companies. Subscribe to the podcast . 

Monica Toriello: It’s the holiday season, and if you’re shopping for holiday gifts, it’s very possible that on your list of gifts to buy is a piece of fine jewelry or a wristwatch. And maybe, when you’re deciding which piece of jewelry or watch to buy, you’ll consider not only what it looks like, what color it is, and what it’s made of, but also how it was made and who made it. That’s our topic for today’s episode: sustainability in the jewelry and watch industry. Our guests are two of the authors of a recent 96-page report titled, State of Fashion: Watches and Jewellery . The report is a collaborative effort between McKinsey and Business of Fashion.

Tyler Harris is an associate partner in McKinsey’s New Jersey office. She’s an expert not only in the jewelry industry but also in retail operations, with a special focus on next-generation store technologies. Tyler is a graduate gemologist and holds certifications in diamonds, colored stones, and gem identification.

Alexander Thiel is a partner in McKinsey’s Zurich office. He leads McKinsey’s work in the Swiss consumer sector as well as our work in organizational design in the EMEA [Europe, Middle East, and Africa] region. He has advised companies all around the world, having lived in both Asia and the United States. He has deep expertise in retail, apparel, fashion, and luxury. Glad to have you with us, Tyler and Alexander.

Let’s start by defining terms. Your report covers “fine jewelry” and “premium to ultra-luxury watches.” What do those terms mean?

Tyler Harris: For fine jewelry, it’s a combination of price points and materials: pieces of jewelry that are priced at about $360 per piece and also contain a precious metal or precious or semiprecious gemstones, such as diamonds or amethysts.

Alexander Thiel: In watches, most brands have a certain “home” or center of gravity within a certain range of price points. Premium watches start at around €100 to €150, going to about €1,000. By the way, this is the space where many of the smartwatches, including the Apple Watch, are positioned, so we see a lot of disruption in this space. Then, prime watches start at €1,000 and go up to €10,000. Above €10,000, you’re going into the space of luxury and ultraluxury. Of course, in both watches and jewelry, there’s really no upper limit: €300,000 and €500,000 and even seven-figure purchases are all possible.

Subscribe to the McKinsey on Consumer and Retail podcast

How the consumer has changed.

Monica Toriello: What surprised you as you were working on the report? Were there any trends that turned out to be stronger or weaker than you initially thought?

Alexander Thiel: One of the surprising things is that a few years ago—even just five years ago—people shopping for watches looked first for a design they liked. Then they looked for particular features, like movements or certain complications. Only after that did they look for a brand. Now, it’s completely different: consumers now look first for a brand that they identify with, that they like, and that they want to wear as part of their public persona.

That is also one of the reasons why an aspect like sustainability—and a brand being authentic in its sustainability appeal—is so important. An individual watch can be sustainable, but it’s difficult to communicate that. For an entire brand, however, it’s much easier to put forward what you’re doing for sustainability. It’s also more obvious to the consumer if you’re not doing sustainable things.

Tyler Harris: On the jewelry side, in the past two years, the consumer has fundamentally changed as well—and she has forced the industry to change along with her. During the COVID-19 pandemic, consumers couldn’t go into the flagship store and try on engagement rings in person. They had to go online. The trend of moving toward digital in jewelry really exploded.

The same thing happened for sustainability. Our consumer research has shown that sustainability considerations across categories  are really skyrocketing. We see that, too, in jewelry: the consumer cares much more about values and sustainable practices and ethics than she did even two or three years ago.

The ‘sustainability surge’

Monica Toriello: Let’s talk about that “sustainability surge,” as you call it in your report. One of the projections you make is that, by 2025, sustainability-influenced purchases will account for 20 to 30 percent of all fine-jewelry sales, equivalent to as much as $110 billion. That’s at least triple the sustainability-influenced purchases in 2019. So that’s a sea change, right?

And, yes, we’ve heard a lot about consumers—especially younger consumers—becoming more concerned about sustainability, but we’ve also heard about the attitude–behavior gap: what they say isn’t always what they do. The skeptic would say, “Well, of course consumers will profess that sustainability is a factor in their buying decisions. But that all goes out the window when they see a beautiful necklace or a watch that looks great on their wrist.” What gives you confidence that consumers now really mean it? That they really are considering sustainability as a factor in their buying decisions?

Alexander Thiel: The first thing is that, of course, the research we are doing is not just survey based. We actually do shop-alongs, we look at a lot of purchasing data, and we have partnerships with brands and manufacturers that give us certain insights. The attitude—behavior gap certainly exists, but in this research, we corrected for that.

Millennials are at a time and place in their life where many of them can afford a luxury purchase like a fine wristwatch. For them, particularly when purchasing a highly emotive item into which they’ve put a lot of consideration and thought, the item needs to fit certain sustainability minimums. If the brand doesn’t have a sustainability agenda  or sustainability credentials, then for many consumers—millennials in particular—it will just not be viable. It will not be part of the consideration set. And that’s not specific to watches; that is true for all purchases that people put considerable thought and time into.

If the brand doesn’t have a sustainability agenda or sustainability credentials, then for many consumers—millennials in particular—it will just not be viable. Alexander Thiel

Tyler Harris: When you look at the search terms that consumers use when they are browsing online for products, the combination of “fine jewelry” or “fine watches” and “sustainability” in Google has skyrocketed. The other thing that I would cite is real growth in brands that are founded on sustainable principles. Mejuri is just one example of a brand founded on sustainable values that is doing remarkably well and growing very quickly. The uptick in those kinds of businesses shows that consumers are looking for these brands and voting with their wallets.

Alexander Thiel: A few years ago, sustainability was almost exclusively discussed as a risk. I remember when the movie Blood Diamond came out. Everyone was afraid that consumers would stop buying diamonds altogether, and the discussion was entirely about how to mitigate this risk, how to avoid loss of consumers, and what kinds of practices, checks, balances, certifications, and insurances to put into place.

What we are seeing now is that the much more powerful sustainability argument is one of positive sustainability, where it’s about end-to-end sustainability—not just mitigating the biggest negative externalities but really building a positive brand. A positive message that enables you to positively associate with a brand is much more powerful than a risk-mitigation message that tells you, “Look, what you’re buying here is really not doing so much harm.”

Monica Toriello: Your report has some astounding statistics about the environmental and human impact of the fine-jewelry industry: “For every carat of diamond extracted, an estimated 250 metric tons of earth are shifted by miners who make as little as $3 a day in some regions.” Another statistic: “Gold mining companies dump 180 metric tons of hazardous water into water streams every year.” And the report says that silver and pearls and other gemstones are problematic in their own ways. How do you advise jewelry and watch companies to approach this problem? How can they figure out where they can make the most impact?

Alexander Thiel: Particularly when it comes to fine materials and fine metals—like gold, silver, and diamonds—the reality is that the standards for extraction today vary widely. Most companies are quite responsible. However, there are also operations that have a significant negative effect on the environment and local communities. Therefore, what fine-jewelry or watch brands have to do is relatively simple: it’s due diligence, stakeholder management, and supply-chain management. I encourage consumers today to ask for and look for these things, because the absolute majority of fine-jewelry and watch brands care about these issues and are very transparent about them.

Tyler Harris: Another thing that I see some of the best brands doing is setting targets and goals that are both near term and long term. In years past, executives set goals for 2050 or for far off in the future. That evokes ideas of greenwashing because it’s really easy to say, “In 20 years, we want our company to achieve this goal,” but you are de facto saying, “I’m going to make this the next leadership team’s problem to solve.” The best brands set near-in targets that ladder up to the bigger goal and hold teams responsible now.

The best brands set near-in sustainability targets that ladder up to the bigger goal and hold teams responsible now. Tyler Harris

Diversity and its many dimensions

Monica Toriello: Of course, sustainability isn’t just about the environment. It’s also about social responsibility, the workforce, diversity. Here’s another statistic you cite in your report: “Among top fine-jewelry players, women make up less than 30 percent of senior executives, despite the fact that women wear 90 to 95 percent of fine jewelry purchased.” Given that their end-user base is almost entirely women, do you think it’ll be easier for companies in this industry to diversify their senior-executive ranks?

Tyler Harris: The problem, or the question, of diversity —whether it’s gender or race or another factor—is really hard to solve, irrespective of industry. Today, when you’re trying to attract junior talent, 75 percent of millennials will say that they expect their employers to focus on societal problems. So if you are an employer who is not focusing on societal problems—be it sustainability, diversity, or any of the other topics that are very much top of mind for folks nowadays—you are going to lose out on pretty meaningful and significant talent pools. The short answer to your question is: no, I don’t think it’ll be easier for fine-jewelry or watch players to crack the code on diversity. I do think it is incredibly important, especially when you think about future workforces and what the companies stand for.

Alexander Thiel: I think diversity is a huge opportunity , and I would cite three dimensions in particular: gender, age, and geography. When you look at most fine-jewelry and fine-watch companies, there is a dominance of men, of organizations that are old in the literal sense, and of organizations in which the executive positions are primarily European or Anglocentric. But the major growth markets for this industry are women, younger consumers, and consumers in emerging markets, particularly Asia .

So, even though I agree that there are many forces in the industry that stand in the way of change, the market forces are so strong that I think they will significantly contribute to solving this problem. The brands that become more diverse, and that manage this diversity successfully, will outperform their peers so strongly that their peers will quickly follow.

Tyler Harris: I also think there is a huge opportunity for diverse designers , whether they work for some of the larger houses or are starting up their own direct-to-consumer businesses. There’s a real call from consumers for diverse points of view  in terms of what is on the shelves or on the digital screen, if you’re shopping online. That is a huge growth opportunity as well.

Opportunities online

Monica Toriello: You’ve both mentioned the online channel. What’s working in e-commerce? What are jewelry or watch companies doing online that seem to be working really well?

Alexander Thiel: Let me start with watches, and then Tyler can talk about the huge challenge of bringing the magic of the jewelry-shopping experience online. For watches, the first realization is that there is a certain group of customers whose existence the industry denied for a long time: consumers who are willing—and actually prefer—to buy a $5,000 or $10,000 or even $20,000 watch completely online. These consumers exist. Giving them this opportunity in a seamless, easy, direct way and offering opportunities for customization as much as possible—that is a formula that is working.

Another thing that is really working is preowned watches. That started to boom the moment that the platforms operating in that space professionalized the market, so that there was enough consensus and trust that you are actually buying, for example, a Rolex and not something that someone put together in their basement. Watch brands have to find a way to make the preowned market work for them, because in the near future we think the majority of transactions in the watch space will be preowned transactions. For brands not to participate in this market would mean not participating in a significant part of the value creation.

Tyler Harris: On the jewelry side, there’s a lot that’s new online. In 2019, only about 13 percent of jewelry purchases were online—quite small compared with other categories. There are a few things that excite me about digital prospects for fine jewelry.

The first is building consumer trust. Fine jewelry is a very heavily researched category. It is a high-price-tag purchase. And diamonds and gemstones are pretty tough to understand: you start reading about the four C’s and all of a sudden you are in a rabbit hole of information that can be hard to figure out. So one of the beauties of online or digital for this category is the ability to capture trust from a consumer in their research process and educate them in a way that they can understand, that is not overwhelming, and that builds trust.

For brands, an exciting byproduct of consumers doing research online is that consumers are clicking on a lot of different designs and links, so you have a lot more opportunities to gather information on clickstream: what they’re interested in and what they’re not interested in. You have more “fingerprints” and more of a history from a consumer’s digital shopping than you do if someone walks in a store and walks right back out.

A second exciting thing online is virtual try-on. There’s a lot of talk about it but it’s still largely in test mode, so the verdict isn’t fully in on it. But we have seen instances where if someone has tried on, for example, two or three pairs of earrings virtually, they are twice as likely to make a purchase and transact than someone who hasn’t done any virtual try-on. So there is evidence that try-on has legs, and—particularly in a post-COVID-19 world where folks are much more conscientious about health and hygiene and trying things on—I think there could be something really interesting there.

A third exciting thing is  online marketplaces . About 20 percent of fine-jewelry purchases are from big brands; the other 80 percent of the market is unbranded. That makes for quite a fragmented industry. When you think about marketplaces giving you the ability to connect your small jewelry shop to consumers across the country and across the globe, and scale in a way that is cost-efficient and drives revenue, there’s something really powerful there.

Creating in-store magic

Monica Toriello: What about in stores? Are there cool things that companies are doing to make the in-store experience even more “magical,” to use Alexander’s word?

Alexander Thiel: Whether you’re a jewelry or watch brand, you need to invest in a very specific positioning: something authentic, something you stand for, something that a consumer really believes are your values and that she or he can identify with. That means that when it comes to stores—since stores are the place where the consumer is closest to the brand and can really experience the brand —it is really important to make your positioning visible.

You can’t just have your products nicely displayed; you need to bring out what you stand for as a brand. And that creates a completely different level of requirements when it comes to creating experience-rich things—whether that’s having pinball machines or a billiards table and the like, if you are a casual brand. The store should be seen as the place where you as a brand have a chance to make the consumer learn and experience what you as a brand are all about.

Tyler Harris: The category lends itself well to thinking about other touchpoints to bring consumers into the stores, apart from the first big purchase. For instance, watches and jewelry are worn every day, which means they take wear and tear. That means they need to be repaired; you need to make sure that the diamond in your engagement ring is checked annually to make sure that it’s not going to fall out of the setting.

So we’ve seen players use their stores as a place where customers can bring in their jewelry for repairs, and use that moment when they’re back in the store to create more magic, show them more pieces, welcome them back into the brand, and remind them of what the brand stands for. That creates a loop of loyalty , so that when customers are going to make their next big purchase, they think of coming to that brand because they’ve already established a habit of regularly coming into the stores  for another purpose. The hurdle of getting back into the brand’s stores to make a purchase is just much lower. That’s one example we’ve seen; you can imagine many other similar ideas.

Imperatives for CEOs

Monica Toriello: If you could gather all of the jewelry and watch CEOs in one room and give them one message—one imperative—what would that be?

Alexander Thiel: One thing is difficult. Let me try three for the watch industry. One is, you need to succeed with women. You need to design and produce for women much more than you have done in the past, because that part of the market is underserved. And you need to do it without catering to old-fashioned stereotypes. The future of watches is in moving more into a unisex space but making watches that women want to wear.

The second thing you really need to figure out if you’re a watch brand is how to serve the Chinese customer effectively and efficiently, now that a lot of the China sales are getting repatriated. Before the pandemic, most of the luxury watch sales to Chinese consumers—who are by far the largest fine-watch consumer group in the world—happened outside China, in destination travel, for example, to Switzerland. That has changed, and we think the change will be quite sticky. A lot of those sales are repatriated and will stay in mainland China. Therefore, you need to have brand presence, distribution, and brand equity in the mainland.

The third thing—and here we come back to our initial theme of sustainability—is to rethink what iconic items are. You need to have iconic items that everyone identifies with your brand and that have such a big appeal that everyone, or at least a lot of people, want to have it. In the past, in the watch industry, iconic items were largely defined by design, scarcity, movements, and the like. These things haven’t gone away, but there are now other sources that make a watch iconic, and they have more to do with the experience, the product, and the brand story behind it—and sustainability is a key aspect of that.

Tyler Harris: We are in a once-in-a-lifetime moment of change: from consumer behaviors, to new entrants in the market, to technology and new materials. Now is the time to throw out the rulebook that has guided the industry for years, in legacy processes and legacy ways of working, and try the new thing—whether that’s starting a new sub-brand or hitting the gas on sustainability and diversity.

There are a lot of things happening right now where time is not your friend, given how quickly the consumer is moving. In sustainability, time is not your friend; in diversity, the same. So acting now and taking some big leaps is what I would guide leaders to do. Like I said, this is a once-in-a-lifetime moment when we can rewrite the rulebook.

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Jewellery on Instagram: 10 favourite accounts with artistic approach to their feed

February 5, 2019

Each year I review ten Instagram accounts from all types of brands and designers across the world that I believe are a true feast for the eyes. From jewellery journalists like myself, to large luxury brands who are household names - these are the accounts which I found myself admiring...

The accounts below are not only based on beautiful photos with original presentations - although all of them certainly pay attention to these factors - but also on the presence and feel of the whole Instagram feed. Often referred to as ‘the grid’, this is a space which represents the brand’s philosophy and principles when used with attention to details. To me, all of these brands and designers successfully convey the DNA of their jewellery through the way they present their images on Instagram.

The iconic Italian brand lets the design speak for itself amongst sparse, minimal, and organic backdrops, with lots of white space to allow a focus on Vhernier’s jewellery forms.

Italian brand Pomellato opted for contrasting approach to creating Instagram layout. It celebrates jewellery with vibrant pops of colour by mirroring the bright hues of the gemstones within their irreverent designs.

By Stolie engage directly with their young target demographic by entertaining followers with daring artistic style, primary colours, fashion photography and graphic typefaces as a setting for their jewellery creations. Such a cool approach to displaying jewellery on Instagram!

@boghossianjewels

In their account, Boghossian has chosen to employ mainly purple company colour that often becomes the background for jewellery images. Gently accenting illustrations and visually intriguing layouts of graphic design combined with high-quality jewellery photography create a feminine and regal overall feel on the brand’s feed.

@andremarcha

This is an account that showcases a simple combination of artistic jewellery and beautiful photography that does the justice to the featured pieces. Saying that what actually drew me to Andre Marcha feed is the minimalistic editorial styling that never takes attention off jewellery.

@ichien.jewellery

I am a big admirer of jewellery renderings and their presence on Ichien’s Instagram account is what really makes me follow this Moscow-based designer. It is important that the graphic design and photography which a brand chooses to display on Instagram do justice to the fine jewellery presented - and Ichien achieve this with a fusion of illustrations and gorgeous designs.

@gilanistanbul

The House of Gilan presents high-quality images of their beautiful jewellery with a combination of modelled shots, still life and thematic backgrounds, which are skillfully combined to create a ‘story’ in their posts.

@hrhjoaillerie

HRH fine jewellery conveys their brands aesthetic seamlessly, with a very chic, minimalist, approach to their social media content. The posts are not heavily based on only jewellery, which creates the effect of a lifestyle or inspirational account, with all of their posts adhering to a gentle, warm pastel colour scheme.

@nuunjewels

The variety of types of posts which NUUN jewels exhibit allow us to immerse ourselves in their world, with a colour scheme that reflects the gemstones and materials used in their jewellery creations.

@willsnotebook

This is the account of Will Kahn, theFashion and Accessories Director at Town & Country Magazine, who is both a journalist and jewellery lover. His creative approach to showing jewellery is informative, informal and delightfully personal. It goes without saying that he curates a great selection of pieces from all types of fine jewellery designers.

Instagram has become the most important tool in direct digital marketing, and with more and more people purchasing fine jewellery and luxury goods through social media, it’s imperative to curate your images in a thoughtful manner.

If you are looking for inspiration for your own social media channel, then consider what type of content it is that you love on Instagram and which elements of this visual medium resonate with you. Social media is communication through a series of images and videos which should capture the essence of your brand or persona, and capture the attention of others.

AUTHOR: KATERINA PEREZ

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Axenoff Jewellery

Source:  Axenoff Jewellery

Petr Aksenov is hard to pin down. A designer with a theological education, he made his debut as a painter, who never got acclaim from the critics, but became a favourite of the Moscow clique. Several years ago, he found his vocation in jewellery making and did just right - his new creations lit up glossy magazines and created a flutter among it-girls. The signature feature of the brand is historicism, ie Russian jewellery tradition of XVI-XIX centuries and the symbols of culture: the luxury of the tsar's chambers and of the icons' casings, the murals of the Faceted Chamber, the folklore, the opera, the ballet and the paintings. The earrings, the rings, the brooches, the necklaces and the tiaras can be realised in not excessively expensive versions (silver with semi-precious stones) as well as with expensive materials - platinum, diamonds, sapphires and emeralds.

Source:  Alchemia

Alchemia is a young brand from Moscow created by a family couple of Moscow Architectural Institute graduates, Igor Komov and Ekaterina Lemm. According to them, the idea to switch to jewellery came out of boredom and an overabundance of creative energy. They transferred the basic laws of harmony and structure onto jewellery and blended modern technology, latest design trends and symbols in different cultures. The distinctive features of the brand are blunt shapes of gold and silver pieces, patina, blackening, enamels, the naturalness of rough stones. Each piece is hand-made, so Alchemy hasn't got, for instance, two identical rings.

Markin Fine Jewellery

Source:  Markin Fine Jewellery

Vladimir Markin is a Moscow jeweller with a distinguished personal style - his jewellery pieces are not like any other. For a long time he worked in big Russian jewellery houses, but four years ago he founded his own business, seeking to achieve maximum creative freedom and to realise the most daring dreams. His laboratory in Moscow is the place where Bespoke Jewellery is being created: anyone can participate in the creative process together with the master and create a unique piece of jewellery. In 2014, the team opened a shop in the trendy Soho district in Hong Kong. Markin's mechanical creations are at the meeting point of engineering, physics and industrial architecture, but do not lack irony and are created with respect to all canons of working with precious metals and stones.

Source:  Gourji

Gourji is one of the first attempts to create (in 2007) a premium jewellery and accessory brand in modern Russia. As conceived by its founder, businessman Dmitry Gurzhiy the brand reinvents the Eurasian cultural and historical context which Russia - a melting pot of hundreds of cultures - lives in. The philosophy and the style of Gourji are inextricably linked to the Russian history. In addition to jewellery, the brand is also known for cufflinks, pens, shawls and scarves collections for upscale clients. All the accessories of the brand refer to various historical periods, religions and cultures of Russia.

Yana Raskovalova

Source:  Yana Raskovalova

Yana Raskovalova has travelled a long way: from a model, a businessman's wife and a Russian it-girl, she became the head of a jewellery house. Having the fortune to gaze at the jewelry brands' masterpieces not through the shop windows, but in her own jewellery box, Yana got herself a hobby: to hunt for antique cameos all over the world and to decorate them with jewels at her own taste. Thanks to the financial support of Yana's husband VadimRaskovalov, the passion turned into a big business: the jewellery is now sold in Podium Jewellery chain, in Paris, Monte Carlo, Courchevel and Dubai. Acejeweller's socialites-girlfriends, from fashion designer UlyanaSergeenko to Russian #1 model Natalia Vodianova, have now become the brand messengers.

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Diamonds / Industry

Lightbox Lowering Prices, Adding GIA “Verification”

By Rob Bates | May 10, 2024

Lightbox Jewelry, the De Beers–owned lab-grown brand that made waves upon entering the business by charging $800 a carat, has lowered the price of its entry-level product (I and J color diamonds) by nearly 40%, to $500 a carat.

G-H color stones are now priced at $600 per carat. And Lightbox is charging $900 a carat for its top-tier (D, E, or F color) gems, down from their original price of $1,500. All the diamonds have a minimum “very good” cut and VS clarity, while the D-E-F colors have an “excellent” cut, the company said.

These are the first price changes since Lightbox premiered in 2018.

Lightbox originally maintained that its lab-grown diamonds don’t need reports, but its stones will be now be accompanied by downloadable GIA “batch quality verification” reports. For these, GIA will examine a “statistically significant sample [from] each production” to verify their quality, Lightbox said. But GIA won’t offer individual grades; instead, it will just verify that diamonds are D-E-F, G-H, or I-J and meet Lightbox’s specified cut and clarity specifications.

While the new Lightbox prices are lower than most lab-grown sellers, a few retailers have priced their diamonds at similar levels and sometimes even less. Perhaps the most aggressive prices can be found at Walmart, where a 2.5 ct. G-H lab-grown solitaire is selling for $1,299 . Ritani is offering a 1.3 ct. I VS2 lab-grown with an IGI report for $371 , and Grown Brilliance has a 1 ct. E VS2 lab-grown (with GIA report) priced at $885 .

“The wholesale prices of lab-grown diamonds in the jewelry sector continue to decline, and we are pleased to pass on these savings to our customers,” said Sandrine Conseiller, CEO of De Beers Brands, in a statement. “These lower prices will ensure that the brand remains competitive within this fast-evolving sector.”

De Beers CEO Al Cook recently spoke about the company’s strategy for Lightbox on JCK ‘s The Jewelry District podcast .

(Photo courtesy of Lightbox Jewelry)

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Mitsubishi’s New US 2030 Product Plan Includes Wild Off-Road Van

Mitsubishi's North American lineup will nearly double by 2030, according to the brand's newly announced 'Momentum 2030' business plan

by Sebastien Bell

• Mitsubishi wants to grow in North America, and will achieve its aims with the Momentum 2030 plan, which it unveiled today.
• The automaker will work with Nissan to offer more models in new segments that it doesn’t currently compete in.
• Mitsubishi Motors North America is also aiming to expand its dealer network.

Mitsubishi has laid out its vision for the future in North America with a new plan dubbed ‘Momentum 2030.’ This plan aims to nearly double the size of its lineup in the region, set a path for further electrification, and expand its dealer network to reach more consumers.

As part of the plan, Mitsubishi will introduce one completely new or redesigned vehicle per year between 2026 and 2030. Among these, two will enter new segments in which the automaker does not currently compete.

Read: Mitsubishi, Nissan To Team Up On Pickup, PHEV And EV For North America

According to an unnamed dealer who spoke to Autonews , Mitsubishi is plotting an entry into the minivan segment with a rugged vehicle based on the D:X Concept that was previewed at the Japan Mobility Show last fall. The futuristic six-seater featured a plug-in hybrid powertrain, Delica-like styling, and chunky off-road tires to “convey a sense of strength.”

Mitsubishi also promised a fully-electric vehicle as part of Momentum 2030, and earlier reports indicate that it will receive help from Nissan (with which it has close ties) in getting this vehicle to market. Unfortunately, no details have yet been shared about the vehicle. It’s also been reported that Mitsubishi could launch a pickup truck, again with the help of Nissan.

In the crossover and SUV segment, Mitsubishi will introduce a more rugged variant of the Outlander next year that has “Subaru Outback-like” proportions, according to the unnamed dealer. It will be followed by a new small crossover that has a plug-in hybrid powertrain, and replaces the soon-to-depart Mirage as the brand’s entry-level model.

In addition to entering new segments, Mitsubishi will also expand its footprint in North America by setting up new dealerships in parts of the U.S. that it has never been to before. The new locations will feature an updated look, and will make the brand more accessible to customers than ever before. The automaker will also produce one of its new vehicles in North America, with the help of Nissan.

The Mitsubishi DX:Concept was revealed in fall 2023

“Mitsubishi Motors is at a pivotal point in North America, charting a bold, clear and attainable plan for our future success in the United States,” said Mark Chaffin, Mitsubishi Motors North America president and CEO. “Momentum 2030 will build on that, setting the stage for new powertrains and vehicles being introduced, new dealerships being opened, and new technologies being developed to make the shopping and ownership experience faster, easier and more enjoyable.”

More From Forbes

Marketing for financial advisors: how to develop a plan.

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Trey Robinson, Founder of Story Amplify .

When meeting with a prospect for the first time, you probably don’t automatically offer your products or services. Instead, you build a foundation by talking with them to learn where they are now and where they hope to be. Only then do you offer a plan and products to help them reach their goals.

Creating an effective marketing plan requires the same process. First, you must build the foundation, and then you can lay out the strategy. Here's the approach my agency uses to create successful marketing plans for our financial advisor clients.

The Foundation

Part 1: know your audience.

The foundation of financial advisor marketing is the same as that of your first client meeting. You must understand your audience and its pain points. This knowledge helps you craft the right message to solve their problems. For example, an older audience’s pain point might be having financial resources post-retirement, whereas younger families have different worries, such as reducing debt and having enough money to send their kids to college.

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A great deal of complex information is out there about the importance of “brands” and “branding.” Boiling it down, your brand is your identity. It’s what comes to your audience’s mind when they hear or think about your name.

To introduce and solidify your brand, you should communicate:

• Your products, services and their benefits.

• What drives you (i.e., why you’re in this business and industry).

• How you differ from the competition.

For example, many financial advisors offer 529 programs to parents and grandparents. Tell those parents and grandparents why your products—and services—are better than others. Maybe you offer workshops in addition to account management, or you might offer budgeting advice as a freebie.

The Strategy

With a solid foundation, developing a marketing strategy is your next step. Digital marketing for financial advisors involves content creation, distribution and lead capturing.

Content Creation

Content includes the text, images and video you use to message your audience. Available content formats include:

• E-books and white papers

• Social media posts

• Newsletters

• Educational videos

• Display ads

• Website copy

Remember your audience. Determine how they consume content. Young families might respond more positively to social media and video, while older adults might prefer written content, such as white papers, blogs and e-books.

The content format you use will also depend on your content distribution strategy.

Content Distribution

There are two types of content distribution: organic channels and paid channels.

Organic Channels

Organic channels mean you don’t pay to build search engine rankings or engage with your audience.

Let’s say a prospect types “financial advisor” into a search engine. A successful organic channel strategy puts your name near or at the top of the resulting search engine results page (SERP). The best way to boost your organic search ranking is to consistently create unique, relevant and valuable content that addresses your audience’s problems.

You can also boost your ranking through the following:

• Google reviews: Positive reviews on Google are great—they position you as a trustworthy source. As a trusted business, search engines could reward you with a higher SERP rank.

• Local business listings: Digital listings on Google, Facebook, LinkedIn, Yelp and the Better Business Bureau's website help leads and prospects locate you. They should include your name, address, phone number, website URL and business description to improve your online presence, potentially leading to a higher SERP ranking.

• Social media: Social media is a terrific outlet for your content. Posting regularly on social media provides you with more backlinks to your website (especially if your content is shared). This increases awareness of your brand—and potentially your SERP ranking.

Another way to boost your visibility in the search results is by earning a free Google Screened badge . Once you've been screened and verified, you receive a green checkmark next to your business's name in your Google Local Services listing, which indicates your trustworthiness to prospective clients.

Paid Channels

To improve traffic flow to your website, you can pay for a more visible presence through paid channels including search engines, other websites or social media. Many paid channels are pay-per-click.

Here are some paid channels to consider using:

• Paid search advertising: A paid search ad guarantees a higher position for your business on a SERP. If a prospect searches for “financial advisors and retirement,” your paid search ad will appear close to the top of that search page.

• Social media: You can post content for free on social media, but paying can help you stand out. When determining your ad’s best social media outlet, consider LinkedIn’s business orientation, Facebook’s friend-to-friend interface and Instagram’s visual requirements.

• Retargeting ads: When prospects visit your website but don’t act, retargeting ads step in. These small display ads “follow” prospects as they visit other sites or social media accounts, encouraging them to leave their contact information or set up an appointment with you.

Lead Capturing

Lead capturing converts your website visitors and prospects to leads so you can follow up.

One way to capture leads is to offer something that entices your audience to return for more. An older audience might appreciate a complimentary dinner and retirement information. Younger families could value a well-written white paper or video about 529 investing.

Appointment setting is another way to capture leads. Encourage prospects to schedule a no-obligation meeting where they can have a no-pressure discussion with you.

How Much Should You Spend?

Even if you decide not to pursue paid channels, you still need resources to support your marketing efforts. How much is enough?

A study by Broadridge found that the average advisor spent $17,400 on marketing in 2022. You can calculate a break-even point by determining your anticipated marketing costs and the revenue necessary to cover that expense.

Final Takeaways

You have a strategy in place when you first meet with clients. You need a similar approach when marketing to and communicating with prospects.

Marketing requires planning and audience knowledge. Take the time to understand your audience’s pain points. Then, develop and distribute content to meet their needs.

Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?

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China Film Pavilion Returns to Cannes to Showcase Excellence of Country’s Movie Business

For its third year, China Film Co-Production Corporation brought together the Chinese film community and international industry leaders through events and conversations

By Partner Content

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Under the guidance and support of the China Film Administration, China Film Pavilion, which is organized by China Film Co-Production Corporation (CFCC), once again promoted exchanges and cooperation between the Chinese film community and their international counterparts at the 77th Cannes International Film Festival, which opened May 14 and runs through May 25. 

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“Since 2022, when China Film Pavilion was first set up, the number of foreign visitors interested in Chinese films has been increasing by year,” said a China Film Pavilion staff member. “New released blockbusters, actions and comedies as well as animations all attracted attention.” 

Among the films presented at the booth were “Legends of the Condor Heroes: The Gallants,” “Chang An” and “Creation of the Gods Ⅰ: Kingdom of Storms” — all of which exemplify the allure of traditional Chinese culture. 

“We hope to promote exchanges and cooperation between Chinese and foreign film industries through China Film Pavilion and help Chinese films go global,” a CFCC spokesperson said. “Through the pavilion, and film as a medium, mutual understanding between Chinese and foreign filmmakers can be deepened to further foster communication and cooperation for mutual development. China Film Pavilion will continue to explore a broader platform for Chinese and foreign film exchanges.” 

In 2023, a total of 971 films were produced nationwide in China, including 792 feature films, and China’s mainland hit box office of RMB 55 billion (approximately $7.6 billion) with admissions of 1.3 billion, making China the world’s second-largest film market. In 2024, the Chinese film market has shown consistently strong momentum. Influenced by various factors such as quality content, continuous market expansion and robust audience support, the box office for the New Year, Spring Festival and Qingming Festival have all hit new heights. As of May 5, China’s 2024 box office was approximately $2.8 billion, accounting for 35% of the global box office, temporarily ranking first in the world. The flourishing Chinese market has also sparked the interest of international filmmakers.  

On May 15, the “Roundtable: How China’s Film Industry Cooperates with International Community” event, about envisioning new directions and futures for international film cooperation, took place at the China Pavilion in the international village. Filmmakers from China and abroad discussed fostering international film cooperation and envisioned the future with an international perspective. Mao Yu, executive deputy director general of China Film Administration, attended the event, shared China’s film practices and achievements in recent years and engaged in discussions with guests. Actor Huang Bo, vice chairman of the China Film Association, and actor Fei Xiang also attended the event. 

Later during the festival, the pavilion will host several special events such as film promotion activities for the documentary “Kangxi and Louis XIV,” a Chinese French co-production, and “Fade Away Pastoral,” a film about the migration of pastoralists in Xinjiang, China. In addition, this year’s “Blue Book of Film: Global Film Industry Development Report” will be unveiled. 

The pavilion will also host China Film Foundation’s “China’s New Talents Going Global Program” series events, including “Dialogue: Infinite Possibilities of Films,” “Roundtable: The Pathway from Short Film to Feature Film” and “Panel Discussion: The Voice and Perseverance of Female Filmmakers,” etc. 

“We were eager to share all these wonderful films with audiences worldwide,” an exhibitor said. “At the booth, we fully experienced the expectations of foreign buyers for Chinese films and felt their eagerness to cooperate with Chinese filmmakers. The pavilion also bridged us with our overseas counterparts and enables us to embrace more business and cooperation opportunities.”

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Kizik Opens Store at Mall of America as Retail Expansion Plan Kicks Into High Gear

Stephen Garner

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One year after opening it first brick-and-mortar location near Salt Lake City, Kizik is doubling down on a retail expansion plan that includes new stores and further extension into wholesale.

According to Kizik chief executive officer Monte Deere, the kicks into high gear on Friday with the opening of its second permanent store – this time at the Mall of America in Bloomington, Minn.

Located in the mall’s West Market, the 1,645-sq.-ft. space will offer the Utah-based hands-free footwear brand’s full assortment of men’s, women’s, and kids’ shoes in all sizes, as well as new styles launching throughout the year. Additional merchandise including Kizik-branded apparel, shoe care kits and no-slip socks will also be available to purchase in store.

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“We love the organic foot traffic at Mall of America, where lots of eyeballs can see the brand at its best and step into a pair of our shoes,” Deere told FN in an interview. “Mall of America is ideal for not just the quantity of eyeballs, but also there are so many international visitors from abroad that shop there that can discover us. Plus, we also found that consumers in the Midwest love our shoes and buy them regularly online. So, this store will allow new and existing customers that come to Mall of America from their homes in South Dakota, Illinois, Wisconsin or Minnesota, to see us in person.”

Following the Mall of America debut, Deere noted that the company will continue to target high-traffic shopping destinations with the opening of its next store at the King of Prussia mall near Philadelphia, Penn. on June 14. The opening of this 1,812-sq.-ft. store will mark the brand’s first permanent East Coast location and will offer Kizik’s full range of products . Both stores were built in collaboration with architecture and design firm MG2, the executive added.

These two openings mark the latest step in Kizik’s continued fast-paced growth into new distribution channels, including additional company-owned retail stores, U.S. wholesale and international markets.

Physical locations have proved to be successful for Kizik since the brand opened its first store inside the Fashion Place Mall in the Salt Lake City suburb of Murray in May 2023. Deere pointed to data gathered from the location showing a more than 70 percent conversion rate for customers who try on the brand’s shoes for the first time in-store.

Deere said he plans to have a total of six stores by the end of 2024 with new openings on Newbury Street in Boston, New Jersey and Denver slated for later this year. “In 2025, we have several more in the pipeline,” the CEO said. “We’re looking hard at Washington, D.C., Nashville, Seattle and Portland for new openings next year.”

All told, Deere said he plans to have a total of 15 stores by the end of next year.

Along with this ambitious store growth, Deere is also focused on building the brand’s wholesale business, which launched last spring with Nordstrom . At the time of the launch Kizik’s adult and kids’ shoes are currently being sold at Nordstrom stores in Lynnwood, Wash.; Portland, Ore.; Oak Brook, Ill.; Scottsdale, Ariz. and Roseville, Calif., as well as online.

Now, Deere said consumers can find the brand at Scheels, Von Maur and all 174 Brown’s Shoe Fit locations. “Our initial expectations for our further push into wholesale was to open 100 doors by the end of 2024,” the CEO said . “With these new partners, it looks like we are going to be in closer to 500 doors this year. It’s remarkable how these partners are receiving us and making the decision to broaden their Kizik assortment.”

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