Rio Tinto discovers new Chinese market

Demand for diamond fashion jewellery is growing in China, according to Rio Tinto.
Demand for diamond fashion jewellery is growing in China, according to Rio Tinto.
A recent survey commissioned by the diamond producer has also found that:
Chinese consumers no longer see diamonds as purely a store of wealth or bridal purchase
Diamond fashion jewellery is desirable and part of a broader trend in China towards ‘affordable luxury’
Diamond fashion jewellery is attractive as a versatile accessory for everyday wear
Design is critical to the Chinese consumer when purchasing fashion jewellery
Rio Tinto Diamonds sales and marketing manager Jean-Marc Lieberherr said the survey’s findings challenge the conventional wisdom that Chinese consumers only appreciate large, high quality, white diamonds or gold jewellery.
“These are important findings for Rio Tinto as we are accelerating our marketing investment in the Chinese diamond jewellery market,” he said.
“It is also good news for diamond manufacturers, jewellery designers, retailers and consumers”.
Rio Tinto’s Argyle Diamond Mine is, according to the company, the world’s primary source of smaller, affordable diamonds.
“With growth in China expected to change the face of the diamond jewellery market, Rio Tinto has partnered with leading diamond jewellery manufacturer and retailer Chow Tai Fook, promoting diamonds as fashion accessories in imaginatively designed jewellery.”
According to PLDG Creative Intelligence, an independent global jewellery trend and forecasting company, the diamond fashion jewellery trend in China is consistent with other key jewellery markets.
“Diamond jewellery consumers increasingly want affordability, beautiful designs and to feel unique. As a result international brands and designers are using small diamonds for innovative designs, not tied to the bridal market.”