Fitness bands are so passe. Blending technology with designer jewellery is the hot new trend
Tracking your fitness, sleep, stress and health patterns has become a rage but how about wearables crafted with diamonds, mother-of-pearl, innovative gold, platinum? Think of ruby rings, chains, necklaces, bangles bracelets and more – jewellery that's “connected” or “smart”.
Luxury brands like Swarovski, Michael Kors and Kate Spade already have such “tech-driven” offerings to monitor your health and well being with some extra elan.
“Wearable tech is gradually growing in popularity. Today, one in ten people will be sporting a smartwatch or a fitness tracker. However, incorporating technology into jewellery is a little tricky and if not done properly or with finesse, it can result in a piece that not many consumers would want to invest in,'' says Gaurav Singh Kushwaha, CEO, BlueStone.com.
Globally, smart jewellery is catching on with both jewellery and fitness aficionados at a gradual pace. Michael Kors's stainless steel Thompson bracelet in rose gold or silver tones features a white mother-of-pearl face and is accentuated with pave crystals. Adaptable with both Apple and Android smartphones, the bracelet allows wearers to monitor their sleep, calories and the distance travelled.
Similarly, the Swarovski activity crystal tracks the number of steps taken, quality of sleep and calories burnt. And these luxury brands aren't alone in bringing out smart jewellery. San Francisco-based start-up Bellabeat is arguably at the forefront of connected jewellery. The brand's Leaf Chakra is a pendant that uses onyx or rose quartz in the design and tracks the wearer's activities, calories and sleep.
Experts feel since several of these smart jewellery pieces are priced from $100 onwards, they can garner a decent amount of consumer interest worldwide. The jewellery market worldwide is expected to reach €250 billion by 2020, as per data by McKinsey and Co. The market for wearable tech, on the other hand, notes CCS Insight, will be worth $34 billion by 2020, with over 411 million smart wearable devices sold by then.
Smart jewellery in India is, however, at a nascent stage. Experts feel that since the Indian consumer is fascinated by gold, silver, diamonds, rubies and gemstones, a synchronised blending of technology with these metals and stones can entice the consumer.
“Smart jewellery will gradually find its place in India when we have great designs in affordable ranges, which can cater to a large number of consumers. From an India perspective, a gold wrist band, for example, will definitely qualify for tracking steps. A pendant which is worn on a gold chain could be infused with a heartbeat calculator and be surrounded by rubies,” says Tarang Arora, CEO and creative director, Amrapali Jaipur.
According to Kushwaha, there are two ways of looking at smart jewellery. “One is by incorporating wearable tech into jewellery forms such as pendants and rings where the actual activity tracker is encased in gold or in silver. The other is by infusing technology into certain stones that are later incorporated into pendants, cocktail rings, etc. ”
Some experts feel technology infusion apart, the range of intricate designs will determine the popularity of smart jewellery in the India market. Says Amanpreet Ahluwalia, brand head for Zoya, a chain of luxury diamond boutiques from the House of Tata, “We think consumers make purchase decisions regarding jewellery based primarily on the design. Our decisions regarding technology have been more design-driven than function-based. For example, our Krsna collection has a beautifully enamelled gold pendant with a painting of Lord Krishna. At the back of this pendant is a nanochip with the entire Bhagwat Geeta engraved on it.”
Indian brands are still waiting and watching before investing heavily into smart jewellery. Says Kushwaha, “We feel smart jewellery is definitely the future and has tremendous potential to become wildly popular with the younger, millennial consumers if a brand can get the design element right. We have in the past considered working on smart jewellery. However, we feel the consumer base has not yet evolved enough and there is still time before Indian consumers will willingly invest in smart jewellery.”
A SPARKLING MARKET
- $100 onwards – Price of several of these smart jewellery pieces
- €250 bn – Jewellery market worldwide is expected to reach
- $34 bn – Market for wearable tech by 2020
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