China's jewelry industry is valued at 5 billion yuan. (Photo : Getty Images)
The company calls their products smart jewelry because not only is it clad with precious gold and Swarovski crystals, but is also used as an electronic gadget.
Jing Jing, a jewelry expert, and editor of Harper's Bazaar Jewelry in China said that buyers are now looking for accessories that are both fashionable and high-tech.
She said, "Chinese consumers have started to change their mindset. From buying jewelry as hedging tools, they are now buying them as fashionable decorations. Smart jewelry with rich aesthetic values and high-tech functions could become a brand new category."
One item in the product list is a necklace called "Beloved." According to totwoo.com, the pendant is made of 925 silver that is plated with 18k yellow gold. There are 9 light 9mm yellow crystals that form a flower.
The jewelry is connected to an app on your phone that includes features like a calorie counter or a pedometer. It will congratulate you if you reached your goal.
It can also connect to others who are wearing the Totwoo pendant.
Each item is priced from 1,000 yuan to 2,000 yuan or $150.
The smart jewelry's designers are Wang Jieming, a Chinese internet entrepreneur, and Italian designer Marco Dal Maso. The company's co-founders were able to get backing valued at 10 million yuan.
Totwoo recently started mass production. The company is the first to do this.
"It's difficult to combine jewelry and smart hardware. The two are totally different, but the challenge is to retain the features of each one. Products similar to Totwoo's are being planned in other countries, but most of them are at a conceptual stage. Totwoo is the first smart jewelry brand that has achieved mass production," said Wang.
China's jewelry market is a 500 billion yuan industry. The per capita expenditure is only 10 percent of the U.S., but the potential for smart jewelry is big as it crosses platforms and is both a consumer and luxury item.
"The smart wearables sector is one of the hottest business areas now," said Mei Tao, deputy director of the China Wearable Computing Innovation and Strategic Alliance.
He added, "A combination of wearable technologies and jewelry would meet customers' needs. Companies should encourage buyers to accept smart jewelry as consumer goods first, and then strive towards viable business models."
