Retail in Asia

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De Beers to see solid growth of Chinese diamond jewellery market

After the 6 percent growth of China’s diamond jewellery sales in 2014, retailers in this industry would continue to see another year of solid growth in 2015, as the market is boosted by the process of urbanization as well as increasing number of middle class, said Stephen Lussier, Executive Vice-President of Marketing at De Beers Group of Companies.

Global diamond jewellery sales increased by 3 percent to a new record high of 81 billion US dollars in 2014, as the main markets including the United States, China and India saw a steady growth, according to an industry insight report published Friday by De Beers.

Compared to the average increasing rate of the past decade, China sales growth was clearly slower, but since Chinese market now is much bigger and mature than 10 years ago, the 6 percent increase is still solid, said Lussier in an interview with Xinhua.

(Source: Shanghai Daily)