Domestic

Jade jewelry maker eyes global market

By Zeng Qingkai (China Daily)
Updated: 2010-11-13 10:30

A Zhaoyi Jade outlet in Dawanglu, Beijing. The company plans to set up stores in New York, Paris, Hong Kong and Tokyo. [Photo/China Daily]

BEIJING - Zhaoyi Jade is looking to tap into the international market in a bid to prove that Chinese luxury brands can find favor with overseas consumers.

The jewelry maker announced a plan on Friday to set up stores in New York, Paris, Hong Kong and Tokyo sequentially in the coming five years. Wang Yunhe, founder and president of Zhaoyi Jade, said she is confident in the appeal of Chinese culture, as well as the continuous economic growth of China, and accordingly, she believes her company, set up in 2003 and dedicated to jade products, will have a rosy future.

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"In Chinese culture, jade symbolizes nobility, perfection, constancy, and immortality," said Wang, adding that more and more foreign customers realized the special characteristics and value of jade products.

Along with our strategy of looking to create "luxury with Chinese characteristics" rather than ape predominantly western trends, jade is finding ever greater favor, according to Wang.

Jade is regarded by many as an eternal symbol of China's civilization. Many top entertainment stars, both Chinese and foreign, are fond of wearing jade jewelry in preference to diamonds and gold.

To cater for the growing demand for individually made jade products, Zhaoyi announced it would offer a customized haute couture service to customers from now on.

According to investment bank Goldman Sachs China's consumption of luxury goods will rise from 12 percent to 29 percent by 2015 - making it second only to Japan - in a global luxury market worth an estimated $80 billion a year.

So far, Zhaoyi has four franchised stores across the country, two stores in Beijing and the other two in Shanghai and Hangzhou.

Zhaoyi Jade is said to be the first Asian company to occupy space at Shanghai's exclusive Bund 18, sitting alongside brands such as Zegna and Cartier.