Buffett's investment in technology companies has always been cautious but has seen a paragraph of smart jewelry
According to CNBC, Buffett has always been cautious about investing in technology companies. He once said that he would not invest in companies whose technology exceeds their understanding. However, Berkshire Hathaway's Richline Group plans to release a smart jewelry Ela (Elegant Lifestyle Accessories) this spring. This smart jewellery enables the wearer to set color and vibrate alerts and notify the user when incoming calls and text messages from specific objects are received. IDC data shows that the growth rate of the smart wearable market was only 3.1% in the third quarter of last year, and Fitbit, the leader in this field, recently announced the layoff of 6% in the global scope. So, what exactly does Buffett think? In fact, Buffett did not regard Ela as a technology product, but only used it as a new feature of jewelry. “The jewellery industry has existed since ancient times, and now it will not disappear, so investing in the jewellery industry is very safe.†Buffett said in an e-mail statement, “After adding some technological elements, it will become more in line with this era.†Cliff Ulrich, product and innovation manager for Richline Group, explained: “When designing Ela, we first considered its jewelry attributes. As a jewelry company, we understand what jewelry retailers and consumers want to sell and buy. They want to Can establish emotional connections with jewelry." Ulrich also pointed out that the jewellery industry and the smart wear industry all differ in marketing and sales. In particular, jewelry sales profit is high, and it is difficult for technology companies to do this. It is precisely because sales of jewelry is a low-turnover, high-margin business that technology companies need to understand if they want to get involved in the traditional jewelry business.
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