Costume jewellery industry started in the 18th century with its use in stage costumes. During the early 19th century, the use of costume jewellery was limited. It made a comeback during the 1960s-70s with many countries manufacturing this type of jewellery on large scales. The inexpensive jewellery was mass-produced in many countries. Over the years, costume jewellery has become a rage with women of all ages groups, fashion-conscious people.
The Indian costume jewellery industry is also witnessing a sharp rise in the demand for domestic consumption and exports. Price is the most important factor contributing to the success of the costume jewellery. The jewellery pieces are manufactured by skilled artisans using the finest quality materials and are attractively designed. The country also has the requisite infrastructural facilities for ensuring the success of the industry. Both local manufacturers and leading brands are venturing into costume and imitation jewellery to cash on the flourishing market.
Costume jewellery is easy to use, and generally maintenance free.
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The global costume jewellery industry is rapidly expanding and estimated to be over US$ 26 billion. USA is the main consuming market, while Italyis the largest country on the supply side, followed by China in the Asian Continent.
The change in customer preference from fine jewellery to relatively in expensive but equally flashy costume jewellery is one of the prime reasons for the growth. Change in demographics is another major reason for the rising demand of costume jewellery.