22 | Thailand Special 2024 INSIGHT 睿智角度 Regal Jewelry Manufacture Co Ltd is enhancing its product portfolio and manufacturing operations to sustain business momentum in a highly competitive market environment. According to company business development manager Natthanisa Phaiboonsuntorn, the shift of consumer expenditure post-pandemic to experiences such as dining and travel as opposed to tangible luxury goods dented demand for jewellery, leaving many players in the industry with unsold inventory in 2023. These evolving consumer preferences and continued economic uncertainties in key client markets put the brakes on the company’s growth trajectory. Golden opportunities The jewellery manufacturer is, however, witnessing a promising turnaround this year, with first-quarter sales meeting targets, thanks largely to its pivot to gold. Noting a marked increase in demand for demi-fine or entry-level fine gold jewellery, Regal Jewelry expanded its gold jewellery production capabilities last year, from increasing the number of its skilled goldsmiths to building a new gold jewellery manufacturing facility. Meanwhile, its core production of sterling silver – and increasingly, brass – jewellery has remained stable. “Our focus on affordable luxury and demi-fine gold jewellery has served as a significant growth driver,” said Phaiboonsuntorn. “We observed a substantial increase in demand from our customers for 9-karat and 10-karat gold jewellery as well as 14-karat gold pieces, prompting us to adapt our business model to cater to this promising growth opportunity.” When it comes to designs, tennis bracelet styles and enduringly popular micropavé stone settings are currently much favoured in the market, she continued. Jewellery pieces with designs suitable for daily wear are likewise highly sought after by the company’s clients. Strategic measures Apart from adjusting its product offerings to suit market demand, Regal Jewelry has expanded its customer base, offering each brand client dedicated designs that fit their unique identity. The jewellery manufacturer is also placing sustainability at the core of its operations. Phaiboonsuntorn noted that Regal Jewelry’s responsible manufacturing practices align with growing customer demand for ethical suppliers. “There has been an increase in client interest regarding sustainability, particularly from the US market. As a sustainable and responsible jewellery manufacturer, we always source conflict-free materials, practice the correct disposal of our wastes and emissions, and offer recycled metals certified by the Responsible Jewellery Council (RJC),” she remarked. Gold pendants by Regal Jewelry Manufacture Co Ltd Regal Jewelry Manufacture Co Ltd的黄金吊坠 embarks on golden pursuits 开展金光大道 REGAL JEWELRY Relentless in its pursuit of growth and innovation, Regal Jewelry Manufacture Co Ltd tailors its products and operations to business opportunities in the market. Regal Jewelry Manufacture Co Ltd坚持不懈地追求发展和创新， 并灵活调整产品和运营策略以抓紧商机。
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