Artificial / Imitation Jewelry Sourcing & Market Feasibility Report

Topics: Jewellery, Gemstone, Fashion Pages: 5 (1465 words) Published: October 23, 2009
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Report Nature: Artificial Jewelry Sourcing Report Subject: Artificial Jewelry Requested Date: 30.06.08 Issued Date: 06.07.08 Price: 5000/-INR

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Artificial / Imitation Jewelry Sourcing & Market feasibility report

“Indian Fashion Jewellery consumer market is one of the fastest growing in the world & is larger than Europe & America put together” Fashion Jewelry Market Overview Fashion jewelry is nothing but a replica of jewelry crafted out of materials like ivory, lac, leather and semi precious stones. There are many types of fashion jewelry based on the material used like aluminium jewelry, brass jewelry, lac jewelry, leather jewelry, ivory jewelry, silver plated jewelry, beaded jewelry, stone jewelry, teracotta jewelry, etc. Fashion jewelry is also known by the names like artificial jewelry, costume jewelry, designer jewelry, imitation jewelry etc. Fashion Jewelry Industry The Jewelry industry can truly be termed as a global industry, because raw materials are derived from Australia, Africa, Russia and Canada, manufacturing takes place in China, India, Italy and Turkey whereas the largest retail markets of jewelry are USA, Europe, Far East, Middle East and Asia. The three most important activities related to this industry are mining, polishing and retailing. This industry has underwent many changes since the beginning of this millenium and this is due to a lot of factors affecting the industry like a steep rise in raw material prices, changing consumer patterns and imposition of a lot regulations by the government. The various products produced by this industry can be categorized as bracelets, brooch, earrings, necklaces, chokers, bangles, finger rings, toe rings, anklets, pendants etc. The material used in manufacturing these jewelry pieces include semi-precious stones, beads, ivory, lac, leather, terracotta, plastic and pearl. Metals like Silver, aluminum, brass, etc are generally used in its manufacturing. New variations of jewelry have also come up in the form of costume jewelry, designer jewelry, imitation jewelry, etc. which are more stylish and trendy than the original gemstone jewelry. Global Trade Volume and Trends The size of the global fashion jewelry industry was approximately 146 billion US dollars by the end of the year 2006. Since 2000 this industry has been growing at an average compounded annual growth rate (CAGR) of 5.2%. These figures show that the fashion jewelry industry is growing at a very rapid pace and is set to become one of the most important industries in the world. This growth trend can be shown with the help of a graph below:

Among all types of jewelry the designer jewelry is the largest segment of the industry with an approximate growth rate of US$ 69 billion and a CAGR (Compounded Annual Growth Rate) of 5% over the last 6 years. It is followed by the plain costume jewelry segment, which had the total retail sale of 60.7 billion US $. The gold jewelry segment has shown the fastest growth rate of 5.5% mainly due to a steep rise in the prices of gold. Major Consumers and Market Share The sale of fashion jewelry is mainly concentrated in eight of the world’s largest markets, which together constitute three fourths of the total sales of jewelry. USA is the largest market for fashion jewelry and had a share of 31% of the total global fashion jewelry sales in the 2006.

The other important markets are China, India, Japan, Middle East, Italy, United Kingdom and Turkey. India and China have shown a great rise in sales during the past five years.

Industry Challenges 1. Many social and economic forces are leading to a transformation in the fashion jewelry industry. Some of the factors hindering the growth of the fashion jewelry industry in the world are: Due to a shortage in the supply of raw materials, there is a steep hike in the prices which has led to a great competition among...
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