ⓒ INEE

The company we’re going to introduce today is INEE, a hand-made costume jewelry brand. Let’s meet with company president Byun Jeong-im. 

In 1992, when I was an undergraduate student, I won a prize at the 27^th Korean Industrial Design Exhibition. In 1993, I graduated from the Department of Metal Art and Design at Hongik University. In May that year, I set up my own fashion and accessory company. Previously, I saw a costume accessory piece in a local department store. It was 160-thousand won, which is about 145 dollars. I wondered how an ordinary salary woman could buy such an expensive item. I believe all women have the right to be beautiful. But I found that in general, it cost too much to be beautiful. Moreover, the accessory market in Korea was not developed. People were mostly interested in fine jewelry, and accessories rarely drew consumers’ attention. I found myself hoping to challenge the fashion market and sell costume jewelry at reasonable prices. That’s why I created my own brand. 

Fine jewelry uses gemstones such as diamonds and rubies, while costume jewelry refers to accessories made of artificial jewel materials like silver alloy, crystal and plastic. Compared to rather expensive fine jewelry, trendy and low-priced costume jewelry is popular with the younger generation. But that was not the case in 1993 when Ms. Byun established her company. Costume jewelry was not inexpensive at all, although it used artificial materials, because of low demand for this type of jewelry. In fact, fine jewelry was considered mainstream. To change the trend, Byun turned her hand to costume jewelry and focused on design. 

My company rolls out 50 to 60 new products every month. That means even more designs are created at first. It is little wonder our design team is awfully busy. The team members come up with more than 100 new designs each month, hold their own show and finally produce 50 to 60 new items. You may think that’s just too many, but a few new products cannot draw attention from consumers. Dozens of brand-new items released every month also motivate shop owners who sell the products to actively promote them. That’s why we continue to develop new items. 

Costume jewelry was introduced in the fashion world after famous designer Coco Chanel boldly showcased plastic accessories in the 1920s. Design comprises an essential part in costume jewelry, which started as a means of completing the self-expressive fashion. Designs for high-priced jewelry made of gemstones like diamonds are limited. But costume jewelry can use any material, and therefore features a variety of designs. To make the most of this advantage, INEE unveils 50 to 60 new products each month. Of course, wonderful designs do not necessarily mean good sales figures. The company takes great care of the product quality as well. 

ⓒ INEE

My company is grappling with the plating issue. A consumer may purchase a jewelry piece because of its beautiful design. But if the plating comes off the product and it can no longer be used, the consumer will be disappointed, although we offer an after-sale service for that. So we’re making strenuous efforts to produce items that can be used for a long time. To this end, another process should be added to the entire production process and it costs more. But I don’t think it’s a great cost when the products are finally delivered to consumers. More production processes may lead to higher rates of defectives. A longer process means a loss for manufacturers, especially for exporters. Still, we have to produce ideal products that prove to be durable and allergy-free so consumers can wear them more often. 

Carving gleaming jewelry out of ordinary materials alone is a complicated process. But the company adheres to an even more rigorous manufacturing process. Plating and carving are skillfully done manually, and a special coating prevents discoloration. It also applies techniques that minimize allergic reactions. For INEE, production requires a great deal of care and time. But for that very reason, the company can create more mature products. INEE’s jewelry items are available at Doota Mall in Dongdaemun, a popular tourist shopping area in eastern Seoul. The company has shown steady growth, promoting costume jewelry in the domestic market. INEE won the “Hi Seoul Excellent Product Brand Award” jointly sponsored by Seoul City and the Seoul Business Agency. This year, the company plans to release its premium line through a licensing agreement with popular shoe brand Tandy. But its growth is not just limited to the domestic market. 

We began to export our goods in 2010, and our export markets now include China, Hong Kong, Singapore, Japan and Vietnam. Our sales performance in China is especially impressive. The global economy has been faring well, although the Korean economy doesn’t look very good. We’ve been focusing on the Southeast Asian market so far, but now, we’re making a lot of preparations to advance into the U.S. and Europe. We’re preparing for a tour, starting with a show in Las Vegas in August. 

INEE offers the best quality products with creative designs. It explores various parts of the world to purchase raw materials at low prices to produce reasonably-priced goods that cost 30,000 to 50,000 won, which is roughly between 27 and 45 US dollars. Currently, the company’s major export destination is Asia. This year, it will make inroads into the U.S. and Europe—the major consumers of jewelry—based on its accumulated expertise. It is dreaming of even greater success through road shows, which fully demonstrate INEE’s strengths. Ms. Byun now talks about her ultimate goal. 

My first goal is to produce goods that meet the needs of customers. I’ve been working on the jewelry business for more than 20 years. Now I hope to make accessories like diamonds. What I mean is that I wish to produce jewelry items that will be passed down from generation to generation, whether they are given as a wedding gift or as the parents’ legacy, just like diamonds. I hope to make beautiful and exquisite costume accessories that mothers will keep in their closets for a long time before handing them down to their daughters. That’s my last goal.  

As a market leader, INEE has promoted the value of costume jewelry and expanded its market for over two decades. The company is putting a great deal of effort into creating precious costume jewelry items, in which wonderful personal stories can be found, so they will be cherished from generation to generation, like fine jewelry.