In 1453, Elector Friedrich of Saxony fiefed the Brothers Leonhart und Nickel von Tannenberg auf Plohn with, among other things, the villages of Eibenstock, Sosa and Burkhardtsgrün.

These were not under the new ownership for very long, as Wilhelm von Tannenberg had to give up Eibenstock by 1456 to the Hereditary Marshal of Saxony, Hans Löser.

The work was famous worldwide, so much so that from 1891 to 1908, the United States even maintained a consulate in town to foster their business relationships.

Small embroidery businesses merged into collectives such as the Produktionsgenossenschaften des Handwerks (PGH) Sticktex or the Eibenstocker Buntstickerei, but then in 1972, these were converted into a Volkseigener Betrieb (“nationally owned business”, a kind of enterprise found in the former East Germany) Between 1974 and 1979 the second biggest dam project in East Germany was realized.

After the political and economic changes of 1989 and 1990, Eibenstock's economy suffered, like that of much of the former East Germany, which had its ramifications for the administration of small communities.

It became impossible to run them independently, and for this reason came on 1 January 1994 the amalgamation of Blauenthal, Neidhardtsthal, Wolfsgrün, Wildenthal and Oberwildenthal with Eibenstock, and likewise on 1 April 1997 of Carlsfeld and Weitersglashütte.