3D-Gold Jewellery, the jewellery brand of China Gold Silver Company Limited, a subsidiary of Hong Kong Resources Holdings Company Limited (The Group), unveiled the new image of its store and new product series at the 2009 Shenzhen International Jewellery Fair. Apart from the pure gold or K gold jewellery pieces and ornaments, the new product series has a better proportion of diamonds, pearls, jade, ruby and sapphire to attract new customers. The Group will also strive to develop franchise business to quickly expand its retail business coverage.
A renowned jewellery brand in Hong Kong, Macau and Mainland China, 3D-Gold Jewellery operates nearly 220 stores - 55% being self-operated stores and 45% are franchise stores - in the three places. The images of its stores revealed at the trade fair were well received by shopping malls, partners and customers. The Group has already completed renovation of the stores in Shenzhen, Hangzhou, Ningbo and Tianjin where new images posted strong customer appeal. The monthly sales of the renovated Tianjin store had a notable improvement when compared with the same period last year.
Dr. Wong Kennedy Ying Ho, BBS, DCL, J.P, Chairman of Hong Kong Resources, said, "We are delighted that the new store image of 3D-Gold Jewellery is welcomed by the market. Building a new image is part of the Group's overall strategy to expand its business. We will work on maintaining same pace growth of our retail business in Hong Kong and Macau, while expanding our retail network in Mainland China through recruiting franchisees and complementing growth with setting up of self-operated retail chains."
3D-Gold Jewellery will strengthen its franchise operation, cooperation and brand alliances. It will expand retail business giving priority by city or region and focusing on franchise operation first and self-operated retail chains second. The Group plans to open about 35 stores and renovate 60 stores in Mainland China before Lunar New Year in 2010. It also plans to open about 100 stores in China every year in the next three years and hopes to have about 500 stores in the country by 2012.
According to Gems and Jewelry Trade Association of China data, the China jewellery industry was among the high growth sectors that boasted double digit growth in the first half of 2007 and 2008. It grew more than 40% year-on-year. In 2008, the total jewellery sales in China was RMB160 billion. Besides, China National Commercial Information Center data showed that the sales of gold and silver jewellery pieces in May this year in China reached RMB1.8 billion, representing 38% growth against the same month last year. From a macro point of view, the jewellery industry in China will continue to grow in 2009.
Dr. Wong continued, "China has a huge consumption market, but the spending per capita on jewellery is far below those of other developed countries. The management is confident that, riding on the reputation of 3D-Gold Jewellery in China and a product mix enriched with gems and diamonds, the Group will be able to grow retail business in China in strong strides and quickly gain major shares in key markets. Our aim is to build 3D-Gold Jewellery into a top international jewellery brand in China within the next two years."
The new store image reflects the familiar classic elegance of the brand but integrated it with a new personalized counter design to present the new brand concept, and a contemporary and energetic feel. On the product front, the new 3D-Gold Jewellery products will form an optimised mix that reflects changes in market preferences and highlight the unique products that involve much of the in-house R&D and promotion support. Aiming for the same popularity enjoyed by its gold jewellery, it will boost product mix giving greater emphasis to diamond in-laid jewellery.
Dr. Wong concluded, "Expansion of retail network will be one of our main focuses. The management will carefully select franchisees with strengths to grow together with the Group. We will also strive to improve our brand image, enhance product development, operational management, after-sales service and overall competitiveness. 3D-Gold Jewellery will speed up the opening of new image stores to boost market share and consolidate market leadership so as to assure it can generate satisfactory returns for our shareholders in the long run."
Held between 13 and 17 September 2009, the Shenzhen International Jewellery Fair is one of the most influential jewellery exhibitions in China. It is deemed as the largest, most-esteemed, most supported by the buyers and most influential international jewellery trade event in the country. The event is a guidepost for the China jewellery industry, revealing the country's latest jewellery trends.
Yekaterina Davydova, Rough&Polished Asian Bureau Editor in Beijing
