Luxury’s attraction is picking up again in China: the sale of gold and diamond jewelry in the first quarter of 2021 exceeded pre-Covid levels. The Chinese market, estimated at more than 100 billion dollars in 2020, is evolving with the growing interest of young people in jewelry, now perceived as a guarantee of personal affirmation. Full of opportunities, renowned brands like Cartier or Tiffany & Co represent for now only 15% of the market. Focus on 3 promising brands.
Djula, the Frenchman who raises millions
Founded in 1994 by Alexandre Corrot, the House of Djula has revolutionized the world of jewelry with its style and wild creativity, bypassing the traditional codes of jewelry with a glam-rock aesthetic. Their “barbed wire” collection was a real hit with celebrities like Beyoncé and Gwyneth Paltrow. Yuyuan Jewelry & Fashion Group, a subsidiary of the Chinese group Fosun has now a 55.40% stake in Djula. The company has invested 26 million euros to accelerate the development of the brand and finance the opening of about fifteen stores in the main Chinese cities in one year. By soliciting the Franco-Chinese expertise of centdegrés for the retail design of its stores, Djula has seen the opening of two strategic boutiques in luxury malls in Shanghai and Beijing. Djula now owns nine stores in Paris, Cannes, New York, Los Angeles and Doha, and is present in more than 80 selling points around the world.
Courbet: the French neo-jeweler seduces Chinese investors
The young French jewelry brand Courbet was created in 2018 by Manuel Mallen, an expert in the finest jewelry market, after managing Baume & Mercier and Piaget. In the midst of the pandemic, Courbet managed to raise 8 million euros, partly financed by the Chinese communication agency Hylink Digital. Courbet relies on a “cheap luxury” positioning, ethical and technological, using recycled gold and synthetic diamonds created in a laboratory, and exclusively made in France in the respect of the environment. By focusing on online sales as the main distribution channel and creating a customer experience similar to visiting a physical store, Courbet is seeking to break into the Chinese market by targeting the 600 million Chinese Gen-Zers and Millennials who are always on the lookout of novelties and for whom ethics is valuable. Courbet has a flagship store in Place Vendôme in Paris and will soon open its first showroom in Shanghai.
Salvini, the Italian who created a joint venture with the giant Fosun
The Italian luxury jewelry brand Damiani, founded in 1924 in Valencia, is recognized worldwide for its diamond jewelry. They launched the “Salvini” brand in 1986 to meet the needs of a younger generation for fashionable jewelry. Like Djula, the Damiani group has signed an agreement with Yuyuan Jewelry & Fashion Group, a subsidiary of Fosun, to create a joint venture at the end of 2020, in which Yuyuan, exclusive distributor of the two brands, holds 55% of the capital. A strategic merger for the two partners: Yuyuan, China’s 3rd largest jeweler, can build itself on an international scale and the Damiani group can accelerate the expansion of its two brands in China with the opening of 10 Damiani flagships and a hundred Salvini stores in the next five years. First step: the opening of a first Salvini store in a premium shopping mall, in the prestigious Pudong business district in Shanghai, with a dedicated design created by centdegrés.
This article was made in collaboration with Chine-Info.com