Israeli Diamond Portal Reports: Jewelry Brands from Asia Burst into International Market

Sept. 6, 2009 - PRLog -- The recession continues to hit jewelry markets around the world and in Asia in particular. The American market suffered the hardest blow of all, while the various Asian markets are receiving special attention due to their ability to fill in the void that has been created. Jewelry brands in Asia have made major breakthroughs in the past few years, and some are now breaking into international jewelry markets with significant success. In the following article we will present three of the most prominent of these jewelry brands: Luk Fook Jewelry, Kin Hung Lee Jewelry and Qeelin Jewelry.



Luk Fook



Hong Kong-based fine jeweler Luk Fook posted a drop of 12.4% in its net profits for the fiscal year that ended on March 31, for among other reasons, due to the drop in the prices of gold. The company's net profits amounted to HK$275 million this year, compared to HK$314 million in the previous year. “People bought more gold products because the prices dropped last year, but the net profit of gold products is lower than that of gem-embedded jewelry,” CEO William Wong Wai-Sheung explains. According to him, the sales of different gold products leaped 54%, compared to 47% in the previous year.



Luk Fook, much like many fine jewelry companies in Hong Kong, considers China a significant growth engine. “We plan to open 73 new sale points in China this year, and another one in Tsim Sha Tsui in September this year,” Wai-Sheung says. In addition to opening fine jewelry stores in central cities, Luk Fook is planning to expand its presence to a secondary circle of cities such as Wuhan and Hangzhou. The company has 67 jewelry sale points, 17 of which were opened last April. The company also has two jewelry stores in Hong Kong and one store in Macau.



According to the company’s CEO, Luk Fook's revenues from jewelry sales in stores grew 14.5% compared to the previous year, coming to HK$3.9 billion, thanks to the strength of the yuan and to tourists from China who come to Hong Kong. As of March 31, revenues from retail jewelry sales are up 23%, and total HK$3 billion Hong Kong dollar, some 79.7% of the company's overall revenue.



Kin Hung Lee



The Beijing Olympics ended nearly a year ago, but the impression it left on China is still in full force. Jewelry firm Kin Hung Lee took advantage of the fact and in December 2008 it signed an agreement with the Olympic Sports Center, according to which it was granted the exclusive rights for jewelry brand Water Cube, which combines unique and rare metals with gems and pearls. The Water Cube jewelry brand combines different elements from the Olympic swimming pool with jewelry that incorporates expensive gemstones, art and inspiration.



Kin Hung Lee was founded by the Hui family from Hong Kong, led by businessman Hui Sin-Kin. The latter built up a fine jewelry empire that took advantage of Hong Kong's special trade status as an independence port. The company, which has spread beyond Hong Kong, does business in Macau, Taiwan and other markets in southeast Asia, and hopes to continue this trend. Moreover, the company has a supply chain in China, from Guangzhou in the south to Beijing in the north. The company's flagship jewelry store in Beijing spreads over 3,800 square meters, and includes the only display hall of jade jewelry in China, which includes collections, displays and a private viewing room.



Kin Hung Lee holds a unique position in the luxury jewelry field: The company has provided extremely luxurious collector items embedded with jade to royal houses in Europe and in the Middle East, and its clientele includes oil, finance and media tycoons. This is partially due to the company's commitment to art and design of the highest quality, which is why its products are so popular among elite circles in New York, Los Angeles, Paris and Milano.



Qeelin



In 2004 Maggie Cheung, a Hong Kong movie star, won the best actress award at Cannes, and chose to wear a set of Qeelin's diamond earrings to the event. From that moment on, the French-Chinese brand became a celebrities' favorite. Its international exposure was immediate, and even caught the entrepreneurs who started it off-guard, as they were still not yet ready to release it to the general population.



Qeelin was founded by Guillaume Brochard from France and Dennis Chan from Hong Kong. The two describe it as “a true French-Chinese brand.” Qeelin is the first international independent jewelry brand that combines the aesthetics of the Chinese culture and the excellence of French craftsmanship. The two believe that this combination works thanks to the authenticity it holds for both cultures.



The partners’ vision was to position Qeelin alongside the most exclusive jewelry brands in the world. “Historically speaking, France is the birthplace of many luxury jewelry brands; therefore it was perfectly natural to base Qeelin in Paris at first. We also wanted to market Qeeelin in the most demanding fine jewelry markets first, and France was one of them. After launching the headquarters in France and in China we quickly opened jewelry boutiques in Hong Kong too,” Brochard says.



“Qeelin combines Chinese inspiration and French craftsmanship,” Mr. Chan also stresses. “This is a French-Chinese brand, a true combination of the two cultures. We strive to implement the best of each side and combine the most exclusive French gold craftsmanship with unique designs inspired by the Chinese culture.” Qeelin is the first luxury jewelry line that relates to the Chinese legacy, he states. “We are learning that our Western customers approve of this initiative.”



Hong Kong helps Qeelin flourish as “an amazing tourist and business attraction around the world,” Chan says. “Our strong presence in Hong Kong has definitely helped us improve awareness of the jewelry product.”



In five years alone, Qeelin has become a jewelry brand with a strong identity and followers around the world. Nowadays, the brand has eight fine jewelry boutiques in luxurious shopping malls in Hong Kong, Paris, Beijing, Taipei and London. The company is expected to launch its first luxury watch collection this Christmas, and even received an award for excellence in 2009 from the French Association of Trade and Industry, which acknowledges the excellence of the French enterprise in Hong Kong.

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