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Diana sapphire engagement ring

Jimmy / 2010-12-31

Nin Prince William and his fiancee Midddleton will marry next April. After their engagement photos were announced, people were deeply attracted by Midddleton’s sapphire ring in the photos.

While others enjoy prince’s wedding as lookers-on, the businessmen, who are from Yiwu of Zhejinang province (east part of China) seize the business opportunity at an amazing short time. Yiwu Ming Wang Jewelry Co., Ltd. put "Diana sapphire engagement ring” on Alibaba within 24 hours after British royal announced the engagement photos, which is the world’s largest purchasing and wholesale market.
Imitation jewelry in Yiwu is on the market at a top speed
Though imitation’s quality is far less than the real one, for western people the imitation of "Diana sapphire engagement ring” is no longer the cheap jewelry. High quality zircon replaced sapphire and sparkling rhinestones replaced diamonds.
Manager Zhou Mingwang of Ming Wang Jewelry Co.,Ltd told the reporter: “In Yiwu, as long as there are close-up pictures, they can produce imitations with high similarity within one week. In order to avoiding infringement, he would ask designers to design again when they produce the imitation jewelry. The platinum claws for fixing the sapphire of imitation “Diana sapphire engagement ring” is 6 less than the genuine.
It is understood that the cost of“Diana sapphire engagement ring” is USD3 and the wholesale price in Yiwu is USD3, but when it is sold to overseas, the price could reach USD30.
Zhou Mingwang told the reporter: “They already sent samples to foreign customers in several batches. The consulting customers are from China, America, France, but majors are from UK. This ring must attract attention, when Prince William get married next year. Perhaps it may cause a burst of popularity in the UK.”:
British Royal wedding becomes the springboard of upgrade
Among nearly ten thousands jewelry enterprises in Yiwu, Ming Wang Jewelry’s scale is not large. Zhou Mingwang told reporter, as a jewelry manufacture, Ming Wang Jewelry has always been considered European countries’ fashion elements as main elements of products development and we constantly close to the trends of demotic and foreign affairs develop products to win the highly competitive market. 2008 Olympic Games, 2010 World Cup and the Christmas holidays are all our source of inspiration for innovative products. "
Zhou Mingwang told reporter: “Customers from different parts of the worl know well of their own countries’ popular trend. To a certain extent, they know better than us for their local market. Once we find new popular fashion elements, we would design and make sample at once. Then, we put the samples on internet to test the market response and customers’ inquiries after improvements. We constantly open up overseas markets through celebrity.”
There are many other people like Zhou Mingwang, who discover the business opportunity through William’s engagement. According to incomplete statistics, there are more than ten enterprises from textile, industry “involve in” this wedding. Beside engagement ring, Yiwu Yunna Jewelry Company also consider to produce other other derivatives from this wedding, such as the small doll, wigs and etc , whose inspiration are from Prince William and Kate
Only continuous innovation can make you survive.
In 2010, although Yiwu’s jewelry industry begins to recover from financial crisis of 2008, but Yiwu jewelry industry have to face the painful of transition because the appreciation of RMB, the increase of labor costs and raw material prices, the decrease of corporate profits, the sharply riseing of India, Vietnam producers etc.
Under the situation of weak external demand and a gloomy industry, how can small jewelry enterprises survive and develop in the cracks. Deputy Director of Chinese Academy of Social Sciences Research Centre of Management, Zhang Chengyao said: “Yiwu should recognize their own advantages and go on taking advantage of them. At the same time they should consider how to innovate. Building own innovation is the fundamental policy, if you want to own core competiveness.”
Zhang Chengyao said: “Prince William engagement may give the Chinese small jewelry enterprise some tips?Only constant product innovation, and constantly follow the fashion trend can give enterprises survival chance in the strongly competition market.”

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