National home shopping channel provides insight in traditional retail markups on jewelry
AUSTIN, Texas, Jan. 26, 2022 /PRNewswire-PRWeb/ -- This Valentine's Day, Shop LC is bringing awareness to the artificial inflation surrounding traditional jewelry markups.
Sourcing raw materials for jewelry affects the price considerably. As materials are sourced worldwide, many players can become involved in the handling of stones. As these middlemen contribute to the sourcing, each adds cost to the final product.
Vertically integrated retailers like Shop LC source directly, in most cases. In turn, this lowers costs across the entire supply chain resulting in a huge front-end savings. For example, Shop LC's parent company, Vaibhav Global Limited (VGL), leverages factory-ownership for sorting, cutting, designing, and manufacturing and direct distribution.
The added savings can be considerable. Wholesale markups are reduced, with the customer enjoying the lower overall cost.
After manufacturing the jewelry and factoring in the final product, branding, advertising, and margin; the final price can be marked up 250 to 400% in a traditional retail environment.
"Vertical integration is a clear winner when it comes to keeping costs down," says Amit Agarwal, Shop LC President. "Rising costs are impacting everyone. Meanwhile, there's still a strong desire for luxury goods. We invite consumers to see the difference and discover affordable luxury jewelry that rivals designer brands for a fraction of the price."
Darren Bogus, Shop LC, 5129033021, email@example.com
SOURCE Shop LC