Breaking new markets, the Chinese consumption upgrade and localisation as a growth driver

An Operations Manager at Chopard Trading (Shanghai) emphasised that the “core of fine jewellery is brand awareness,” rather than the quality of the raw materials used, which has allowed players like Tiffany & Co and Richemont SA’s Cartier to monopolise the highend market. The specialist noted that while he believes the “sales revenue of jewellery will rise,” non-jewellery brands such as Dior, Louis Vuitton and Gucci that want to compete with market leaders need to go above and beyond by “retain[ing] customers in their value chains” and offering pieces that “best match [their] other products… to demonstrate [their] strength and professionalism in the luxury jewellery sector.”