Market Research Report China Luxury Jewellery Market competition,Imitatio | Page 2

According to the market research report "Luxury Jewellery in China", with the
share value of 6% in 2016, the Chow Tai Fook jewellery group limited was
registered with the leading position in the country. To meet the demand for China’s
baby boomers and wedding jewellery, there was a launch of perfect love collection
in 2015, which led to increase in sales of Chow Tai Fook. It has launched many
designs and variety of separated collection and named it soul love collection and
bridal collection. It has customized jewellery design services for wedding. In
mainland China the company has opened a marriage specialist store within which
80% of products have been sold out.
It is expected that, there will be more emphases on personalized design by China
leading Jewellery Company. Nowadays, traditional designs and generic design are
not so much preferred by youngsters and other people as well because individually
being more highlighted in China. For wedding rings, special customized jewellery
is largely embraced. Blovers, allows the couple to participate personally in the
ordering, designing process based on looking back to their love story, and it is
considered as a wedding ring customization specialist for exclusive wedding rings.
The jewellery market in China is much better than the watch market. China
jewellery has seen a growth of 22% from 2009 to 2015 and will a growth in future
as well. Jewellery is the retail based market which have brand distribution within
its stores.
There are various reasons for rising growth in jewellery sector in China. Increase
in disposable income, which has led to higher purchasing power, enables the
consumer to demand more luxury jewellery. Urbanization in China has also led to
increase in sales of luxury jewellery from a decade. Branded companies have
changed their branding strategy as well as their public offering to capture growth in
market and in future years.
Despite of branded companies like Cartier and Tiffany with the biggest foreign
names, there is still increase in homegrown houses, which provides Chinese jewels
to Chinese consumers. There are many luxury jewellery brands, which have
entered Chinese market with WeChat. Recently, there is a limited addition of pink
gold by Bulgari and flash sales of Valentine’s Day festival by Divas’s Dream.