Lab-grown diamonds have been gaining in popularity in the US for several years, especially during the pandemic, with this trend now expanding to Asia Pacific. However, the Asian market is generally more conservative than the US, where local consumers prefer real or natural diamonds due to lack of knowledge of this sector.
Since a significant share of fine jewellery sales have been lost due to a lack of tourists from Mainland China, many retailers have been forced to shift their focus to local consumers, especially affluent younger generations. For example, Chow Sang Sang, one of Hong Kong’s largest jewellery specialist retailers, partnered with the Victoria and Albert Museum in London to use iconic British designs as a theme for its stores and for a jewellery line inspired by art pieces in the museum.
Since the pandemic emerged in Hong Kong, most retailers have been attempting to improve their business models and expand sales opportunities, including the launch of new designs to gain the attention of younger generations, boosting their e-commerce strategies, and increasing brand awareness by collaborating with other brands. For example, Oura collaborated with the Italian fashion house Gucci to create the Gucci x Oura ring.
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Understand the latest market trends and future growth opportunities for the Jewellery industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jewellery industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Jewellery is a kind of personal adornment usually made with various precious and semi-precious materials such as gemstones, precious metals, beads, glass, and shells. Jewellery segment as either real or costume jewellery. Hair Accessories are not included as part of Real or Costume jewellery.See All of Our Definitions
This report originates from Passport, our Jewellery research and analysis database.
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