MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding

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By David Brough

 

SHENZHEN, China – The China Fashion Gala, a new “East-West” event gathering Chinese jewellery manufacturers and brands with key European opinion leaders, highlighted China’s focus on boosting the international branding of its jewellery industry.

 

China is the world’s largest manufacturing economy and a leading precious and fine jewellery manufacturer and marketplace. China’s diamond jewellery market is estimated to be worth around USD $7 billion.

 

The meticulous planning and state-backed investment in the June 13-16 “China Fashion Gala”, featuring a spectacular runway event showcasing Chinese cutting-edge jewellery designs, and staged in the manufacturing hub of Shenzhen, in mainland China neighbouring Hong Kong, signalled that the Chinese industry is strongly committed to raising its visibility as a source of brands in the global market.

MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding

China Fashion Gala 

How to do this?

 

A conference on the final day outlined several ways to drive forward Chinese jewellery manufacturing, design and brands on the global stage:

MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding

Jewellery Outlook Editor David Brough addressing the conference at the China Fashion Gala 

 

Boosting standards, so that “Made in China” will become increasingly recognised as top quality goods; developing associations with responsible groups such as CIBJO-World Jewellery Confederation, RJC (Responsible Jewellery Council), and WJI 2030 (Watches and Jewellery Initiative 2030);

 

Developing and supporting original design inspiration. Highly skilled and inspired Chinese designers such as Wallis Hong, an architect of the event, are emerging fast as ambassadors for original and outstanding design skills and innovation, spearheading a “new wave” of Chinese talent;

MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding

 Celebrated Chinese designer Wallis Hong, seen here with GemGenève Co-Founder Ronny Totah, at the China Fashion Gala

 

Investing in jewellery education in China, supporting the next generations of manufacturers, designers and brands; investing in scrupulous market research and trend forecasting;

 

Investing in new technologies to raise efficiencies, supreme craftsmanship in order to stand head and shoulders above the competition, and sustainability to meet the stringent standards set by the new jewellery consumers;

 

International partnerships and collaborations to learn from seasoned industry peers around the world;

 

And tracking and harnessing AI as appropriate, to boost industrial efficiency and cut production costs.

MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding

Panel discussion at China Fashion Gala

Any previous concerns around “Made in China” quality, risk slipping out of date, and will undergo a vigorous reappraisal as Chinese suppliers and emerging brands, such as FONIKS, presented at the event, are now showing a gritty determination to raise their game on the international stage, which will drive up competition across market segments to the benefit of the consumer.

MARKET COMMENTARY – Chinese jewellery industry aims to boost international branding