How to create a jewelry brand and make money on expensive jewelry
Grigory Myagkov, founder of Echo, worked for several years as an employee before opening his own workshop. During this time, he had a good understanding of how the jewelry market works, who dictates jewelry fashion, and what new technologies small manufacturers can use to stand out from the mass market. He spoke about this in an interview with Kontur.Zhurnal.
Own way
Since I have a very creative family, art has been present in my life since childhood. My father is an engraving specialist and an excellent artist. Brother and sister are also closely connected with art. I studied at an art school in Togliatti and quite early realized that I wanted to study to become a jeweler, but by coincidence, I was not able to fully realize this dream.
I made the decision to study metal and jewelry back in the seventh grade. After the lyceum, you could immediately enroll in the department of decorative and applied arts and metalworking, which is what I did after graduating from ninth grade. But a year later the school closed, and we were offered to go to college. I refused and transferred to the woodcarving department, but I realized that I had made a mistake in my choice - this field turned out to be not my calling. It turns out that I actually acquired all the skills for my current job thanks to my parents and the jewelers with extensive experience around me.
Initially, I had no desire to open my own business. I just wanted self-realization. I was engaged in jewelry making, worked for hire and was looking for a place where I could unleash my creative potential. I wanted to make not just jewelry with a typical classical shape, but to introduce designer developments into the products. But, unfortunately, in the companies I worked for, such an approach was impossible.
I started implementing my own project while I was still working at my main job. During the day he did what he received from his employer, and in the evening he worked part-time in a small workshop with his father and friend. Over time, I moved to another, as it seemed to me, promising place. But in the process, it turned out that people who initially seemed motivated to me had difficulty interacting with professionals. The management did not understand at all what the product manufacturing process should look like. It was not possible to create a really working production structure there. After leaving there, I found myself floating freely without a specific place of work. At that moment, fate gave me an offer to get a job as an assistant in a jewelry workshop in a store and repair products. I agreed immediately, especially since it was an opportunity to gain experience in communicating with customers.
There I began to realize my main idea - to offer jewelry not just according to some ready-made models, but something radically new, with my own design and in co-creation with the client. To my surprise, in a small workshop in an inconspicuous store they managed to do this quite well. Customers were very enthusiastic about my proposals and placed orders, including large sums. As the service was promoted, regular customers and good income began to appear. Seeing that this approach really worked, I decided to separate myself completely and began to actively promote myself on the Internet. This is how the Echo brand appeared in 2013, which exists to this day.
Jewelry fashion
The jewelry market in Russia is just beginning to develop, especially in the premium segment, which today is represented mainly by foreign brands. And the mass market is occupied predominantly by Russian manufacturers. And it’s clear why: if you have a low price and good advertising, then everyone will be happy to buy your jewelry.
The fact is that the jewelry market is very multi-layered. And people have different attitudes towards jewelry: some simply buy gold and diamonds, others see something more in the products.
However, fashion in jewelry is imposed mainly by large companies. With greater financial resources and the ability to launch massive promotions, they show consumers what they think is beautiful. But as soon as a person encounters something else, his worldview changes, he begins to understand that there are more interesting and original jewelry.
Be that as it may, the current situation is generally a normal process for the jewelry industry as a creative direction. After all, creativity cannot be limited by anything - neither rules nor strict regulations. Creativity is the soul of the artist. How the artist saw and conveyed the moment means that’s how it should be.
Question of price
You can make money from jewelry in different ways. We have chosen a rather difficult segment - the creation of jewelry that has a certain artistic value, their production is very difficult, and they are really expensive. But it is difficult to get people to understand that such jewelry really costs more than cheaper jewelry from the store. Getting into the target audience is also not easy.
The products we make should cost much more. But now we are dumping a little, because we need, firstly, to gain a foothold in this market, and secondly, to establish business processes, increase the capacity of production itself, and build a system for receiving orders and working with clients. We are focused on jewelry connoisseurs, we make products for people who pay attention to quality, and not for those who are simply satisfied with the fact that the tag says “gold and diamonds.”
The client needs to justify the price. We understand it because we are specialists. For people who have never experienced buying jewelry, it is not so simple. The problem can only be solved through advertising, marketing and branding.
Now we proceed from what we spend on making jewelry: labor, material consumption, equipment depreciation. And, of course, we are definitely looking at the jewelry market.
Now we work a lot for other cities, and orders come from all over Russia, from Vladivostok to Samara. People learn about us through the Internet. At the moment, the engine of advertising is word of mouth. People tell their friends about their experience of buying jewelry, who also come to us. And, of course, don’t forget about the Internet - social networks help us a lot.
One of the key factors for the success of online sales is that we present our jewelry correctly. We do not order jewelry photographs from photo studios, but take them ourselves. Our operating principle is that we try to do everything with high quality and with soul. And our photographs also turn out unique, and you can feel it. A person looks at a photograph, is imbued with what we want to convey to him, and then the desire to buy appears. It is thanks to the right photos that we are able to sell expensive jewelry through social networks.
The most popular product is considered to be wedding rings. This is generally a large market, and it is the easiest to enter. The only problem is that the companies that are rooted in it are not developing, they have been stagnant in design since the 90s.
Jewelry work
Currently, the Echo project employs 8 people. My wife Svetlana and I are the founders and directors of the studio, and my sister Maria is responsible for the design of Echo jewelry.
In our work we use various technologies and work on several areas at once. We use modern 3D modeling and prototyping technologies, and also focus on studying the ancient technique of wax modeling by hand, mastering hot enamel technology, and reviving engraving skills in jewelry.
Mastering the technology requires a significant amount of time, because the quality of jewelry is a priority. For example, in order to put hot enamel into jewelry, a number of requirements must be met: the surface of the metal, the grinding of the enamel itself, the temperature and time the jewelry is in the oven. This knowledge is developed through practice; there is very little information in the public domain.
Each of their techniques opens up new facets of jewelry art and adds color to the jewelry. For example, if we add floral patterns to a piece of jewelry, we make it in such a way that the patterns look not like a semi-finished product, but like fine jewelry work. Engraving skills help achieve this result.
Almost every order that comes to us is unusual. It's not like what we've done before.
We always try to find out the unique feature of a person or the story that should form the basis and reveal it in jewelry. I especially remember two large bracelets that were ordered for us. The first one was made in antique style with dolphins. The second is with wolves. Both bracelets cost approximately 600,000 rubles. each and took about five months to make. Moreover, the products contained only gold. This is why I liked both decorations.
It is not necessary that everything should be studded with diamonds and expensive rare stones - this is still far from an indicator of the value of the jewelry. I think this reveals our attitude to the matter: the price and value of jewelry lies not in the materials that were used, but in what idea and how we revealed it with the help of the material we worked with.
Plans
We recently visited the international jewelry exhibition in London, Internatinal Jewelery London, where we received high praise from experts in the jewelry industry - some confirmation that we are moving in the right direction. Major changes are coming. We will act more strategically in terms of promotion. Previously, we spent a lot of effort on internal production processes, on creating the product itself, because of this we did not have enough resources to fully engage with clients and begin to fully work with them. Now we want to harmoniously engage in both production and promotion.
We are also considering the option of selling our products in stores, because custom manufacturing is the most expensive option. It is much easier to buy ready-made jewelry and it is easier to complete the transaction itself. But to start selling ready-made jewelry, you need some investment. The material itself and the stones we work with are very expensive, and the sale of jewelry also involves quite expensive activities. But we are striving for this, this is our goal - to make ready-made jewelry and sell it in stores or in some other way.
In the near future, we intend to modernize and improve our production, debug all internal processes, starting with the sales department and interaction with production, so that we can produce more jewelry without losing quality. We also plan to participate in specialized exhibitions and sell our products in foreign markets.
A story told by jewelry. Jewelry with meaning
Whether you like it or not, the jewelry you wear tells a story about you. Whatever you choose: expensive or not very expensive jewelry, elaborate or simple, they can tell both about your taste and reveal your feelings. They can also tell you about what is important to you, about memories, or even send your personal message to the world. Giving your friend a beautiful, meaningful jewelry gift can change their mood. Keeping your grandmother's ring means feeling the significance of family history. A piece of jewelry may not be super precious or even very beautiful, but its significance can be invaluable to a person.
We have selected several quotes about jewelry . Find one that reflects your relationship with jewelry.
“If I could, I would wear jewelry, a great pair of heels and nothing else.”
What about this one? We'll tell you more. Well-chosen jewelry can become the main accent of your image or even style. People may remember your jewelry rather than your clothes or other accessories. It's as if you were only wearing jewelry.
“Decoration is often a work of art. But it only becomes visible when emotions are added to it.”
“Jewelry is something that is always associated with emotions. This aspect of jewelry really interests me."
Jewelry as a means of demonstrating status is no longer so interesting. Stylish and confident people do not show off their status or wealth. But they can speak loudly about their values and send a message to the world - not with words, but in a more unique way - with jewelry. If you order an individual design, you invest not only your imagination, but also your emotions into it, which means the jewelry acquires additional value. Your emotions and feelings invested in the jewelry are unique, so the jewelry itself becomes so.
“I like it when jewelry tells a story and can speak about me. This is more important to me than a trend or a label.”
Inspiring jewelry is so much more than pretty accessories. It's not about fashion or fun; inspirational or religious jewelry can take on a special meaning to the wearer. Like any other jewelry, jewelry with meaning looks beautiful. They can be made from precious metals and stones, as well as alternative materials such as wood, beads or leather. What sets them apart: they are not just beautiful, but emotionally, psychologically or spiritually connected to the person who wears them.
Symbolism has become a trend, allowing you to express your individuality through jewelry and tell the world about your individuality. It allows you to emphasize the authenticity of your own style and its resonance with your inner world.
It may seem that earrings, bracelets, and necklaces with symbols are a new trend. However, symbolism in jewelry has existed since ancient times. But if we don’t talk about status, what can jewelry tell us? Let's look at the types of jewelry with meaning.
— Engraving a Quote This is the easiest way to personalize your jewelry. Jewelry with a quote engraved in a native or foreign language can be a great motivational or inspirational gift, reminding you of something important every time a person wears the jewelry. Or, if you choose such jewelry for yourself, it can tell about your motto or vector in life.
— Ancient and Spiritual Symbols There are symbols that came to us from ancient cultures, such as the Celtic ones, which carry the energy of a certain history and culture. When choosing a piece of symbolic jewelry, make sure its meaning suits you or the person it is intended for. To this type we can also include religious symbols, such as the symbols of the Jewish star, cabalistic, carrying hidden power. If a person believes in these symbols, they can become a real support and a wonderful friend.
— Symbols of love This deserves to be a separate type of jewelry dedicated to the most important feelings. Hearts, stars, symbols of red roses and stones, rings with vows, dedications and prayers... these are also the most touching romantic gifts for loved ones. The process of choosing an engraving to symbolize your love, such as the infinity sign, is self-explanatory.
— Unusual engraving Today it is easy to get high-quality engraving, not only when it comes to words. These can also be special signs, one-of-a-kind symbols, or even a recording of an audio track or heartbeat. So, you can order jewelry with an engraved ultrasound image to make an unforgettable gift for a new mother or new father.
— Protest with beauty Environmental problems have also affected jewelry makers. To express their sympathy for the pressing issues of preserving the ecology of the planet, designers create jewelry in the form of flasks with a miniature ecosystem, jewelry made from plastic and garbage, which are thus designed to attract public attention to this problem. Some artists work directly, such as Victor Sabido Basteris, who created a unique line of jewelry made from recycled silver. His method of metal processing can almost halve the amount of harmful emissions into the atmosphere and energy consumption.
Jewelry has many functions. Earrings add shine to the face, a brooch draws attention to the neckline, a bracelet to graceful wrists, rings add special sensuality to the hand. A pearl necklace or ring with a gemstone given to a girl for her graduation is a kind of rite of passage, indicating that she has become an adult. A father, husband or boyfriend, giving a woman precious jewelry, shows her his attention, love or admiration. Jewelry can also be a memory or a tribute to tradition. This way, you can start your own tradition by bringing back jewelry from every trip, and it will be a reminder of good memories and emotions.
What does your jewelry collection tell you about?
