Fashion entrepreneurs often use their own design sense to develop new products. But Polychemy, a Singapore-based jewelry company, is getting its design cues from another source — big data.
The company uses 3D printing to develop very specific types of jewelry, such as nameplate necklaces in different languages and sports team logo pendants. To get ideas for new items, the company analyzes Google search results. Founder Aaron Issac explained to CNN:
“We’re a very data-driven company; we analyze what people are searching for on Google. People are searching for things that are very specific — for example, a gold ring with a diamond, ring size 8.5. We try to measure the demand, and then we develop that type of jewelry.”
Offering these specialized items allows Polychemy to set itself apart from most other jewelry retailers. Since the products are completely specialized, they’re often items that can’t be found at other stores. In the past, creating items with that level of customization would have been incredibly expensive. But 3D printing allows Polychemy to create a huge variety of different designs fairly inexpensively.
But even though 3D printing is what allows the company to create its different designs, it could also eventually be what drives it out of business. It’s a method that’s gaining popularity among businesses in many different industries. But as the technology evolves, it could become more available to consumers. So, if Polychemy’s customers are able to print their own jewelry, there won’t be as much of a need to buy the actual pieces.
But for now, the ability to buy customized jewelry made with high-end materials seems to be a popular one. In addition, since the company uses information from Google searches, the products are likely to be fairly in-demand.
Currently, the company offers about 40 customizable jewelry designs that sell for between $100 and $250 each. The customers can choose different options for each one, like gems, text, and precious metals.
Image: PolychemyMore in: 2015 Trends