Sunday, July 3, 2011

The Chinese Market Boom Of Luxury Jewelry Powers

Given that China should become the largest market in the world for luxury goods in 2012, the jewelry trade have fought tooth and nail for a share of this market.

Luxury market in the PRC amounted to U.S. $10700000000 USA in 2010, accounted for a quarter of the world, a recent report by the World Luxury Association shows. When the Chinese people spending tax of 25 percent more on luxury items, each year the association predicted that China will surpass Japan to become the largest consumer of luxury goods in the world next year.
A ring in zirconium set with 40 fancy diamonds weighing 8.06 carats and encircled by white diamonds was among the stunning exhibits by Suzanne Syz in Asia

To attract new spending on the continent, leading jewelry fair organizer UBM Asia reorganized its Guangzhou Fair to be held a week later. Unlike previous versions, which were used primarily as a B2B platform that aims to Guangzhou Treasures jewelry collectors of high-end consumers and local retailers with a more sophisticated choice of luxury jewelry, organizers said.

Meanwhile, her jewelry shows in June in Hong Kong, Asia UBM will welcome visitors with two additional attractions - the Pavilion and to slim Jewel Pavilion - where more than 50 international brands present a wide range of exquisite jewels and gems high-level visitors.

The great potential of the Chinese market has been jewelry designers of high quality brands to expand their presence there. Swiss world-renowned jewelry designer Suzanne Syz, hailed for its one-of-a-kind creations on display over 30 pieces of fashion jewelry in Hong Kong and Beijing in May SYZ Suzanne said: "I am privileged to present my creations eclectic jewelry and design concepts for the first time in Asia, where discerning collectors of jewelry and customers are on the rise, and their tastes are more sophisticated with the demand for high-end jewelry is booming. Asia, I hope my first exposure to open a new window of possibilities for jewelry lovers to gather gems of exceptional originality, novelty and creativity. "
Suzanne Syz’s “Smarties” series receive enthusiastic response in both mainland China and Hong Kong

The luxury goods giant Richemont of Switzerland, which includes prestigious brands such as Cartier and jewels, and Van Cleef & Arpels, said pretax profit rose 83 percent to 1.3 million euros, or U.S. $1. UU. 88 million dollars, during March 2011, driven by an increase of 36 percent of sales in the Asia-Pacific region, mainly in China. Sales for the year rose 45 percent in mainland China and Hong Kong to 1.65 billion euros, or U.S. $2.38 billion.

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