Inspired by a seventh century Etruscan necklace on a Mother’s Day shopping trip, father-daughter team, Ernie and Teagan Hinderliter, found themselves designing a beaded accessory line mirroring the bead and pendant designs of ancient Italian jewelry. Fitting to current trends, Hinderliter decided on a Pandora like concept, providing customizable accessories with a bridge jewelry price point. “I’ve had retailers and their customers tell me that Teagan Collection Jewelry is an affordable luxury. Our quality and our prices fill that gap between fine jewelry and costume jewelry.”
Collegiate Licensing Makes Its Way into the Jewelry Industry
But instead of offering a broad category list of beads like other customizable jewelry lines, Hinderliter wanted to invest in a growing and marketable theme. That is when he came up with the idea for college licensed beads. “College licensed merchandise grows at double digits, even through a recession. The retail marketplace for college licensed merchandise in 2010 was estimated at $4.3 billion. Much of the success behind licensed merchandise has to do with college athletic teams,” says Hinderliter. Universities are selective in who they choose to design and sell their licensed merchandise. However, there are limited products like Teagan Collection Jewelry, and, “many colleges are happy to participate,” notes Hinderliter. Teagan Collection acquired three schools the first year, and after all royalties were paid and no mistakes found, the company received three more licenses the following year. From there, Teagan Collection has been increasing its sales force and licenses from the Southeast and the Midwest.
The company’s product lines have also expanded into a few custom beads for church groups, corporations and exclusive high school designs. “Say a local jeweler decides they want to do something special for the local high school. They might come to us to design a bead or a line of beads with school letters, colors, etc. Carrying such an exclusive line makes them a destination place,” notes Hinderliter. And while sterling silver and enamel have been the traditional components for Teagan Collection’s beads, the company is also investing in popular Swarovski designs and possibly a new pearl line, adding a little glam and sophistication to its generally casual design.
Currently, the Teagan Collection supplies 500 retailers, 35 percent of which are jewelers, 20 percent gift shops, and some boutiques. “I urge buyers to carry our entire line. We offer key rings, necklaces, bracelets, earrings and more. People come in to buy one item, but will come back for the whole collection, or so I’ve heard from some retailers,” says Hinderliter. Retailers are required to fulfill an opening order of $500, and from there every reorder has to meet a $100 minimum. All merchandise wholesales between $6 to $20, with beads averaging around $17 wholesale. “The expected profit margin is two to two and a quarter times the wholesale cost,” Hinderliter notes. Other retailer benefits include POP display options such as a white necklace bust, which holds a collection of products including a necklace, bracelet and earrings, or a one square foot tray with 50 compartments to hold beads at the checkout counter. “My products are satisfaction guaranteed. Retailers can return beads for any reason for a complete refund, credit or replacement, but few, if any, ever do,” says Hinderliter.
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1312 Green Cove Rd.
Winter Park, FL 32789