Thursday, 24th March 2005 (4844 views)

International luxury jewellery names are trying to attract Chinese partners so they may attract the biggest spenders.

A number of jewellery firms including Belgium's Pluczenik Group and Hong Kong's EMA Asia have been showcasing various items in China to promote their collections.

It is hoped Pluczenik's luxury jewellery line Escada will be available in China by the end of this year, following the display of products at the China International Gold, Jewellery & Gem Fair in Shenzhen this month.

Sherri Wang, marketing director of Pluczenik's China office, told China Daily: "We try to enter the market as early as possible when it is with just a small amount of peers, or, as we foresee, a group of luxury jewellery makers will elbow in one after another in the next few years."

American luxury brand Tiffany and French firm Cartier have both made their move into the market, with stores operating in Beijing and Shanghai.

However some firms are looking to work with experienced local jewellery retailers too, in order to gain a better insight into the market and to keep costs low.

Recent research by Merrill Lynch predicted that the global sales of luxury goods may have reached around $82 billion last year.

 

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