MARKET INTELLIGENCE 市场情报 48 | JNA July/August 2024 Bolstering Japan’s Japanese jewellery manufacturers have witnessed solid growth in recent years, buoyed by strong demand for high-quality and unique jewellery pieces from affluent consumers as well as a steady influx of inbound visitors post-pandemic. To sustain this momentum, jewellers are finetuning strategies to prioritise quality, focus on distinctive products and expand to international markets. They also remain optimistic about prospects of steady industry growth amid challenges such as a saturated domestic jewellery market, aging craftsmen and global economic uncertainties. Glowing opportunities Japanese manufacturers said the pearl, diamond and coloured gemstone jewellery segments as well as gold chains and coins have been performing strongly both in the domestic and international markets since April 2023. Kengo Kajita, fourth-generation jeweller and president of Kajita Co Ltd, explained, “The yen’s depreciation and rising costs of materials significantly affected the domestic market, inevitably pushing jewellery prices up. However, with Japan’s Nikkei 225 stock index reaching a record high in 34 years, demand from wealthy consumers also rose, supporting substantial sales growth.” Coloured gemstone jeweller Kajita operates retail and wholesale businesses. “We see solid interest in aquamarine, morganite, teal-coloured sapphire, emerald, alexandrite and Paraiba tourmaline,” Kengo remarked. “There is a shift in consumer preferences from vibrant and bold colours to more subtle and slightly smoky hues.” He also cited the rising value of and appreciation for coloured gemstones as evidenced by encouraging response to Kajita’s latest collection, Kajita Love, which features high-quality engagement rings adorned with coloured gemstones. Meanwhile, Isao Hori, managing director of Kuwayama Corp, noticed a widening polarisation in consumer products, which he attributed to escalating gold prices and fluctuations in diamond prices. He explained that high-end jewellery that displays the full allure of precious metals and coloured gemstones, and higher price-point products like Kihei chains and coin pendants, are gaining traction among well-off buyers. At | Sharon Kwok 郭芷雯 | Flexibility jewellery by Kuwayama Corp Kuwayama Corp的 Flexibility系列珠宝 日本珠宝制造开拓未來 jewellery manufacturing expertise Renowned for producing refined jewellery pieces, Japan is aiming to sustain industry growth by strengthening product offerings and seizing business opportunities in overseas markets. 日本制造的精致首饰蜚声国际，珠宝商现正 通过扩大产品種類和抓紧海外市场的商机，来保持行业增长。
RkJQdWJsaXNoZXIy NjAxOTU=