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Denise Tsang

Diamond sales in the mainland surpassed gold, jade or platinum jewellery last year amid a slowing economy, according to a survey by De Beers.

 Polling 11,600 women in 25 mainland cities, the De Beers survey was designed to look into urban women's attitudes to diamonds and their purchase and ownership patterns.

 The survey found the amount of women polled who owned diamond jewellery almost doubled to 11 per cent last year from 6 per cent in 1996.

 However, sales of jewellery such as gold, jade or platinum suffered severe declines in line with weaker domestic spending.

 The survey also found diamonds were popular among the younger age group of between 18 and 34, singles and newly-weds.

 Diamond rings such as for engagement, wedding and anniversary were favourite of the polled, it said.

 Christina Hudson, De Beers consumer marketing director for Greater China, said: 'The findings paint an exciting picture for diamond sales this year and beyond.'  De Beers would spend US$6 million this year on advertising and marketing in the mainland, she said.

 De Beers, a supplier to virtually all Hong Kong jewellery retailers, reported a 43.9 per cent increase in sales to $2.5 billion in the first six months of this year.

 Ms Hudson said the increase was driven by strong demand in Europe and the United States and a recovery in Asian economies.

 'The trend of improved consumer confidence across most of the Asian markets will continue,' she said.

DIAMONDS 



Girl's best friend proves ever more popular gem