According to British CCS Insight’s Wearables Forecast, Worldwide, 2015-2019, by 2019, the sales volume of wearable devices will reach 245 million units with a total value of US$25 billion, half of which coming from sales of smartwatches and other smartphone accessories. While smart jewellery remains a niche, two companies from Shenzhen, a manufacturing centre for jewellery and electronics in mainland China, have made their entry into this market segment with distinctive approaches.
Branded jewellery
Museheart focuses on branded smart jewellery that flaunts a luxurious appearance. During the Shenzhen Jewellery Show in September 2016, the brand launched 80 rings and 20 bracelets, including designs made with Swarovski zirconia. Co-founder Wu Xiaobin said they wish to solve the problem of the lack of fashionable appeal in smart jewellery by providing different designs for different consumers. Models specially created for men, women, elderly plus a special Punk collection are available to suit the wearers’ needs and moods.
It took the company a year to develop a cloud-connected chip in the jewellery that boasts a small dimension of 13 x 13mm. Museheart’s product combines functions such as SOS, pre-set text sending, photo taking, pulse rate monitoring and call alert. Especially designed for consumers who do not live with their parents, a highlight function is for children to check on their parent’s health condition. For example, when the parent’s smart jewellery detects an alarming health parameter, it could send an alert to the children’s smartphones and smart jewellery through the app.
At present, 70 percent of their products are made in silver. Wu added that designs created with karat gold and precious gemstones are also available. A silver Museheart ring set with Swarovski zirconia is retailed at around 1,580 yuan each, while versions made with precious materials could cost over 20,000 yuan. Clients from the United States, France and India have shown interest during the show. Targeted at the global market, Museheart’s next step is to launch their products in BaselWorld, Switzerland.
Smart gemstone
Unlike Museheart, the role of MetaGem is to produce the ‘gem’ in smart jewellery which they named MetaGem. Founded in 2014, the start-up joined their first jewellery show in the September Hong Kong Jewellery & Gem Fair.
David Chang, CEO of MetaGem believed that smart jewellery is just one of the many expressions of wearable technology. “Digitalisation is a trend that began in the end of the last century which will continue. To us, MetaGem is a new age stone,” he told Hong Kong Jewellery.
With over 20 R&D members in the team, MetaGem is better described as a technology company than a manufacturer of jewellery parts. Chang explained that his team is mainly responsible for providing IT services such as cloud software while the manufacturing procedures are outsourced. Chang perceived their business model to be similar to Swarovski’s as a provider of ‘gemstone’ that could be used in different applications. Their target customers include independent designers, jewellery brands and manufacturers.
MetaGem offers multiple functions including photo taking, contactless payment, activity tracking, etc. To facilitate customisation, a Meta Lab app will be provided for clients to design specific functions and user experience. Apart from the application in jewellery, Chang expects their smart gemstones to be added to garments and accessories.
To control production costs and quantity, MetaGem is first produced in ceramic and priced at US$30-50 per piece including the embedded technology. Aside from the ceramic model, versions made with precious gemstones are also available.
In mainland China, they have partnered with Shenzhen Ganlu Jewellery Co Ltd, a leading local jewellery company, which serves as their appointed marketer. In the future, they are looking to expand the functions of MetaGem and develop the market in the United States and Europe amidst the anticipated fiercer competition.
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