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HIERSUN is one of them. According to PaulC.A. DeMaere, the new vice president of the Group, during his tenure, Hanson will focus on developing firepower in China and other Asian emerging markets.
Paul revealed that in September Hengxin will test its water brand strategy for the first time, targeting large-scale market entry with mid-range positioning. Paul said that in the next two to three years, Hang Shun plans to open two new stores in Shanghai and Beijing and Shanghai to radiate across the country. “China is a very large market, with a brand that cannot be truly targeted, this time The new brand will all come from Hang Shun's European Design Center."
In contrast to Hong Kong's jewellery retail brands such as Zhou Shengsheng, Chow Tai Fook, and Tse Sui Lin, which are “more outlets and smaller storesâ€, Hang Shun has chosen a special "big shop operation" method in China. In fact, in the field of diamonds, retail sales of a palace-style business of more than 1,500 square meters are unique to China. At present, it has opened "Hangxin Diamond Palace" in Beijing, Shanghai, Tianjin, Harbin and other cities.
The Chinese market is an important piece of Hanson's global strategy. This is why Hanson has set up a global retail base in China. Paul believes that China's rapid consumption growth cannot be ignored and the opportunity is greatest.
It is reported that although the size of the Chinese diamond market cannot surpass Japan in the short term, in the next few years, China’s diamond consumption will increase by double digits. Experts predict that by 2010, Shanghai will form a relatively large-scale trading center in the world of diamond processing and trading. By then, sales of Shanghai diamonds and accessories will reach 3 billion to 5 billion U.S. dollars, and employees will increase to 100,000.
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Breaking out of Hang Seng and expanding Chinese territory with big store operations
At present, China is already ranked among the top five diamond consumers in the world. Shanghai is also a major consumer of diamonds. Many foreign diamond giants have begun to expand their Chinese territory in Shanghai.
July 13, 2018