China indeed is a huge market. Especially for luxurious goods. The country’s jewelry market is estimated to be around $150 billion. It is a tempting number for any player to take part in the business. Just as E-Land Jewelry does.
The South Korean jewelry brand is scaling the market to prepare it official launch next year. Though not physically, E-Land Jewelry products has been around in China for a while. The compa-ny has its own offline store within the Korean Pavilion in Alibaba e-commerce.
Next year, it is preparing for a full-fledged entry to China’s online e-commerce channels. It is also considering opening some physical stores in the neighbor country.
In South Korea itself, E-Land Jewelry has had 370 stores spread throughout the country in 2018. Now it has opened 25 more, and still planning on opening up to 40 more stores by the end of this year.
The jewelry maker also has its own e-commerce platform within the company’s e-mall. Though the market of online jewelry in South Korea is pretty low, the sales on the online sector is growing. Accounts for 10% of total sales, the online sales have doubled in the last five years.
E-Land Jewelry: Lloyd, Clue, OST, Latem and Grace Line
Eland Jewelry consists of four sub-brands. The first one is Lloyd, which is the oldest one. Founded at 1990, Lloyd initially only use gold for its jewelries. But when the challenge of overcoming gold’s price has become too much, it pivoted to silver plated one.
In 2004, the company made another brand called Clue. The brand targets people in 10s to 20s. Then in 2006, it launched OST, designed for the young professionals at 20s. And it launched is Latem at 2015, with a more generalized design suitable for people from 15 to 35.
Yet Latem has not reach all market. Therefore Eland Jewelry added Grace Line that targets customers in their 40s to 50s.
