Business is booming here, fuelled by solid economic growth and a strong financial sector. As a point of reference, a recent article in the Financial Times outlined that the number of US Dollar billionaires in China has grown from just one person in 1999 to 106 people in 2007. The economic growth potential that exists in China today is simply unprecedented.
(PRWEB) December 12, 2007
Kaushik Mehta, Chairman of Eurostar Diamond Traders, presented a long term vision for the $1.75 billion diamond jewellery market in China at the 2007 China International Diamond Conference. Mr Mehta shared his insight on sustainable long term strategies for diamond wholesalers and retailers in China, emphasising value-added, emotion-based marketing as the keystone of growth and success.
In addition to presenting macroeconomic trends, Mr Mehta presented case studies on Eurostar's long term strategic partners, including Hearts On Fire, Tesiro Tongling, and the Heart Diamond.
Mr Mehta's long term view of the diamond jewellery market in China is optimistic, indicating: "Business is booming here, fuelled by solid economic growth and a strong financial sector. As a point of reference, a recent article in the Financial Times outlined that the number of US Dollar billionaires in China has grown from just one person in 1999 to 106 people in 2007. The economic growth potential that exists in China today is simply unprecedented."
Mr Mehta also emphasised: "Price alone will not attract consumers for long... Value can be captured using diamonds in almost any quality if emotion, innovation, and differentiation are carefully and artfully incorporated into the picture.
And the way to do this is by creating an enticing diamond jewellery buying experience and building long term relationships with customers. If we provide consumers with a frequently updated, well-diversified and differentiated diamond jewellery product line that appeals to different personal milestones such as wedding, anniversary, or self-recognition, we create more long term selling opportunities. Taking all of these steps moves us away from attracting consumers with only margin-eroding prices, and forces us to constantly upgrade ourselves and provide better diamond jewellery to our customers."
A full transcript of Mr Mehta's presentation is available at: Eurostar Diamonds.
Eurostar Diamonds International is a global diamond conglomerate with over $1 billion sales per annum, polishing over 2.5 million carats of top quality diamonds annually. The company employs 10,000 diamond experts worldwide and is a Sightholder of The Diamond Trading Company International as well as The Diamond Trading Company Botswana. Eurostar was founded in 1978 and is a leading supplier of fine polished diamonds with a clientele comprising the world's most prestigious watch and jewellery brands.
The 2007 China International Diamond Conference was held on 27-29 November 2007 in Shanghai and was attended by key industry leaders from all over the world.