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Jun
2015

Watches & Jewellery December 2012

Readers of Luxury Insights China will have seen the relentless expansion of watch and jewellery brands across China. In the jewellery sub-sector, Cartier leads the pack with 37 direct boutiques as of December.

 

Store openings

  • 30th Nov, a new 400 sqm flagship store of Omega opened in Chongqing.
  • 1st Dec, the second Hublot store was opened in Dalian, the first Piaget concept store opened in Shenyang, 2 new Bvlgari stores opened in Wuhan and Changsha and Chaumet added 2 new stores in Shanghai.
  • In Dec, Chopard opened 2 new stores one in Shanghai and another in Beijing.

 

Brand activities

  • Chaumet held their 5th Anniversary celebrations in Shanghai and organized two Jewellery exhibitions in Chongqing and Hefei. They also held a jewellery appreciation event exclusively for the VIP customers of China Citic Bank in their Chongqing Maison Mode store, a few days later the same event was held in Chengdu.
  • Zenith also held watch appreciation event in Zhengzhou. And Panerai launched its new collection in Plaza 66 in Shanghai.
  • Bvlgari appointed the international movie star Zhang Ziyi as their global ambassador for Save The Children, to which it has contributed for some time.

 

wwwjjjMap

 

Cartier leads jewellery brands west

In the November issue of Luxury Insights China, we looked at the distribution of watch retail in China and compared this with jewellery and fashion. On the map below, we plot the brand expansion of the three longest serving and best known jewellery brands in China; Cartier, Tiffany and Bvlgari, which first opened in 1998, 2001 and 2003 respectively. Cartier have lead the sector, opening more boutiques than their competitors, and all have moved from the east, through to the north and south, before heading west.

Pre 2004 and China’s entry into the WTO, expansion for all brands was relatively slow. In the jewellery sector, the opening of the diamond market in 2005, added greater impetus to the expansion, and we saw these brands dramatically increase their coverage, and start moving into tier two and three cities. At the same time, other jewellery brands began to enter, and the race for consumer mind share increased considerably. All three brands have a high profile in the media, keen to stay high on the consumer’s radar.


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