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Setting A New Course(HKTDC Jewellery, Vol 02,2005)

Vol.2 2005







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Company Profiles

Setting A New Course
Anthony Cubic Zirconia & Jewellery Co

Diamonds Are Forever
JB Jewelry (HK) Ltd

Setting A New Course

Anthony Cubic Zirconia & Jewellery Co

Photo
Anthony Cubic Zirconia & Jewellery Co produces rings, earrings, pendants, bracelets, necklaces and body-piercing jewellery in gold and 925 silver
Well-established jewellery manufacturer Anthony Cubic Zirconia & Jewellery Co is a classic case of traditional Hong Kong adaptability in the face of changing market conditions.

Its Art Rise Development Ltd predecessor was aggressively seeking brighter prospects in 2000, having paid its dues for the previous five years producing fine jewellery for bigger companies in Hong Kong.

Art Rise harnessed its manufacturing expertise and reputation for speedy delivery and quality products and made an important strategic change that saw it start supplying direct to retail and distribution companies.

"Contract work is now highly competitive on the mainland," explains managing director Anthony Shi, adding that profit margins had become so low that the company needed to make important new strategic decisions to stay competitive. "We knew we had the skills and expertise and were in close touch with major markets' demands in the low-end fine jewellery sector."

One of Art Rise's initial moves was to set up Anthony Cubic Zirconia & Jewellery Co to enhance its business communications, marketing, logistics and customer service and expand its client reach.

"We are a second-generation family business and having a Hong Kong office helps enhance our customer relations, while our 300-worker 1,500-square-foot factory in Panyu on the southern mainland ensures highly cost-effective production," Shi explains.

Today, some 80% of the company's business is OEM, with ODM accounting for the remainder. "We have our own design team on the mainland, which is vital to help clients translate their ideas into workable and affordable realities," Shi adds.

Anthony Cubic Zirconia produces rings, earrings, pendants, bracelets, necklaces and body-piercing jewellery in 8K, 9K, 10K, 14K and 18K yellow and white gold and 925 silver. Some 60% of its business is gold jewellery and 40% is 925 silver.

Pieces are typically set with diamonds, gemstones or semiprecious stones and CZ, and the company is also a manufacturer of loose (AAA) CZ and synthetic stones. "Our most popular pieces are white gold with 10-15 point diamond settings," says Shi.

Prices per piece for 8K-18K yellow and white gold items range from US$8-2,000 and from US$2-80 for 925 silver, gold-plated and stainless steel pieces.

Shi notes that the current trend is still for white gold and big rings that look expensive but are actually light in weight and very affordable. "We achieve this by using pav?or small diamonds and coloured gemstones to create an elegant style."

Anthony Cubic Zirconia's biggest sellers are gold rings, pendants and earrings using lower-quality PK to BS diamonds sourced from India, although it also uses significant quantities of CZ and semiprecious stones such as amethyst, blue topaz and garnet from the mainland.

CZ stones account for some 20% of the company's business and are usually set in low-karat gold and silver. "Brighter CZ colours, such as yellow and pink, are particularly popular right now," observes Shi.

Anthony Cubic Zirconia's biggest market is the US, taking 40% of output, followed by Europe (30%) and other areas such as Hong Kong and Japan.

"US customers tend to want bigger orders of lower-quality pieces, while European clients demand higher-quality items in smaller quantities," notes Shi. "Our biggest order to date has been 10,000 rings per style in white gold set with diamonds."

Styles and motifs vary from customer to customer but Shi says the cross remains a perennial favourite, with heart shapes popular on special days such as Mother's Day and Valentine's Day.

Anthony Cubic Zirconia also serves the teen market with attractive body-piercing jewellery, its silver navel studs set with CZ stones proving particularly popular.

Shi insists that the company can cater to any design and minimum order value over US$3,000 per shipment and is actively seeking to expand its customer base of chain stores and mail order firms, which is currently its main business focus.

But Anthony Cubic Zirconia also continues to offer contract services "as we have direct access to excellent raw materials and a skilled, experienced workforce".

The company is a regular at Hong Kong jewellery fairs, which form an important part of its marketing strategy. "We are also doing more and more business through our website," adds Shi.

As to the future, he points to the mainland as Anthony Cubic Zirconia & Jewellery's next big market. "The retail jewellery market is just starting there and its potential is huge, especially for white gold with 10-15 point diamond settings," Shi maintains.

WRITTEN BY SANDRA JENNER

Anthony Cubic Zirconia & Jewellery Co

Rm1208, Rise Commercial Bldg,
5-11 Granville Circuit, Tsim Sha Tsui,
Kowloon, Hong Kong
Tel: (852) 2367-3683
Fax: (852) 2367-3083
Email: anthonycz@hknet.com
Web: www.anthonycz-jew.com

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