3D Printing, The Future of The Jewelry Industry

06/12/2016 10:18

A 3D printing startup from Hong Kong, called POESIS, has successfully completed its crowdfunding campaign on Kickstarter for a smart 3D printing jewelry system which allows anyone to easily create unique and resilient rings and bracelets. A study by YouGov, a prominent data research firm, indicated that marketing efforts by high-end jewelers for Millennials are proving to be inefficient. This market-segment is spending approximately $49 billion annually on products within various luxury categories, however, only a limited percentage of this money is being spent on fine jewelry.

Demand for high end jewelry is decreasing yearly while the spending power of Millennials is increasing exponentially, indicating a large potential market. It is important that the industry starts listening to the demands of this segment, which is something POESIS is attempting to do. The new 3D printing technology enables anyone to make a ring or bracelet that’s suits their needs within 5 seconds. The Cloud-based platform allows users to personalize their order through a web-based app - which can be applied to various materials such as silver or gold - and of course to order a ring that fits perfectly. The company also claims to offer a high level of transparency since customers will be able to choose the types of materials that will be used in the production phase.