Costume Jewelry in Yiwu

Costume Jewelry in Yiwu

The costume jewelry industry in Yiwu consists of over 3,800 suppliers. 70% of these companies are export-oriented, and offer low-end designs in small volumes.More than 95% of these companies are privately owned, the rest being joint ventures between local and foreign investors. Manufacturers in Yiwu seldom offer designs under inhouse brands. As more companies acquire direct export rights, the smaller, less-competitive factories are being elbowed out of the market, while the remains are improving their design capability and in-house quality control. For example, a company's R&D team may use Adobe Photoshop to draft patterns and implement quality control from the sourcing of materials to the final phase of manufacturing. 

Ranking among China's top 10 trade markets, Yiwu is a popular destination for foreign businessmen sourcing for a range of products, especially jewelry. Yiwu makers, who offer mostly low-end and midrange jewelry pieces in classic and floral designs, can also tap a large workforce for various industries,which include manufacturing, management, design, export trading and logistics. Suppliers can benefit from easy access to materials and accessories and the availability of low-cost labor.Being a developing urban zone, the county-level city attracts skilled workers from neighboring provinces. Despite the increasing modernization, labor and real estate costs there are still 5 to 10 percent cheaper than in Guangdong province.The prices of costume jewelry made in Yiwu, can be as much as 40 % lower than in China's other hubs.