MARKET INTELLIGENCE 56 | JNA March/April 2023 “The creation should contain a rich combination of creativity and vitality that celebrates traditional culture as well as functionality in the contemporary world. Substandard imitations labelled as Guochao should be avoided,” commented Tang. For his part, Gen Z designer and founder of Erdong Jewellery Chen Weiyang said designers have the liberty to bend traditional rules even when conceptualising a Guochao jewellery piece. “The materials used for Guochao jewellery may be traditional, but the selection process can be tweaked ingeniously to bring about unexpected surprises,” remarked Chen. Take jadeite for example. Chen explained that from a design point of view, it is no longer necessary to follow old beliefs that the greener the stone, the better. He added, “Design comes first when choosing materials. I favour colourless transparent jadeite or white nephrite from different origins in my designs. This can become the finishing touch.” In addition, Guochao design is also seen as a simplification of complex styles. Plum, orchid, bamboo and chrysanthemum, for instance, are popular artistic inspirations but in Guochao, there is no need for a realistic interpretation. “Focusing on a few, intricate details is a kind of design ingenuity. When it comes to numerous traditional symbols, only the most direct and simple graphics should be kept, doing away with the complicated exterior. This is a Guochao trend,” continued Chen. Innovation Guochao also has applications in the metaverse, which could further ignite interest among tech-savvy Gen Z consumers. Chen recently launched a series of hybrid non-fungible tokens (NFTs) consisting of both physical and digital versions of a bespoke jewellery. The “Da Vinci’s Egg” cufflink and brooch NFT utilised traditional elements of a fan and blue and white porcelain. Consumers who buy the NFT will also receive the physical jewellery. “For Chinese generations born after 1995, there is a great deal to inherit in terms of culture and tradition from a country with a vast and rich history. There is also a lot to explore in the digital realm,” concluded Chen. Outlook According to the Bain-Altagamma Luxury Goods Worldwide Market Study released in January 2023, the global personal luxury goods market reached an unprecedented US$383 billion in 2022, up 26 per cent from 2019 and 22 per cent from 2021. China – the luxury market’s primary driver of growth over the past decade – saw a decline of 1 per cent to US$64 billion. The report however predicted that China will surpass the Americas and Europe by 2030 to become the largest luxury market worldwide, accounting for 25 per cent to 27 per cent of global purchases. A further testament to this were the findings of the Global Powers of Luxury Goods 2022 published in January 2023 by Deloitte, which revealed that China is now home to 11 of the leading luxury companies that contribute a huge chunk to global luxury sales. China is behind Italy (23 companies) and the US (14), but ahead of France (eight) and Switzerland (eight). Two mega Chinese jewellery chain stores – Chow Tai Fook Jewellery Group and China National Gold Group – now rank within Gold brooch with diamonds and jadeite by Pan Yuhang 潘昱行作品，翡翠配钻石白金胸针
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