Jewelry can be more than just a pretty ornament – it can also be sustainable and a smart financial investment for the future.
This is the main message Richmond resident Corey Sham is hoping to share, having launched her online-based jewelry business Vela Jewels Co.
Sham developed an interest in jewelry early on, like many others, thanks to her mother.
However, she noticed an unsustainable cycle of buying jewelry that would tarnish after a few months of wear only to be discarded, which was not a good use of her money.
Sham, who is 22 years old, created Vela Jewels offering big brand quality, but at a lower cost.
“It’s about introducing people to the idea of investment jewelry and allowing people to have that first piece of luxury jewelry without the big price tag,” said Sham.
All of Vela’s pre-made and custom-made jewelry is 18-karat gold, which is 75 per cent gold, and includes natural gemstones such as diamonds and sapphires.
The jewelry is designed and manufactured in Hong Kong. It can take eight to 11 weeks for final custom-made pieces to be delivered.
While jewelry doesn’t retain the same value as a gold bar, Sham described jewelry as an asset.
“You’re able to wear it as opposed to leaving the gold bar at home,” said Sham.
When a piece of jewelry is out of style or a customer doesn’t like it anymore, they can trade it in and it’s then turned into a new piece of jewelry.
Because the pieces are made from 18-karat gold, they can be remelted and reused in new jewelry pieces, she explained.
While the return value of the item is lower than the original price, Sham explained return value is credited towards another piece of Vela jewelry.
“That way it goes into the investment part of putting in your money and rolling it like a snowball,” she said.
“Because Vela is still so small, we are still able to target this sustainable aspect very well by taking the items, evaluating them and contribute to the environment by reusing components from the previous jewelry pieces on hand.”
Fast fashion has largely taken over the market and Sham wants to change that.
“Considering a financial investment in jewelry isn’t just about building a financial goal for yourself, but it’s also about contributing to the world by putting a pause on fast fashion, if not slowing it down,” said Sham.
“It’s a collective (effort) where we’re all able to help reduce all the unnecessary waste that we’re producing.”
For Sham, starting a business as a young woman in her last year of university was not easy.
The UBC psychology major grad said she generally had the support of her family to start the business, but not without hard work on her part.
“I’m really learning from scratch, like how to register as a B.C. business, the taxes, customs and everything,” said Sham.
“It is very stressful, in a way, to ensure I’m on top of it all and staying motivated all the time.”
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