Lee Hwa

Topics: Jewellery, Fashion, Gemstone Pages: 2 (431 words) Published: November 8, 2011
Jewellery industry
Jewellery has become a vital element in everyone s life (Ali 2011). •The gems and jewellery industry has been growing rapidly and has become one of the most profitable industries of the world (Ali 2011). •People buy jewellery for wearing as well as investing their money (Ali 2011). •Lee Hwa Goldsmiths & Jewellers Pte Ltd is incorporated in November 1970. •Became public listed under Singapore Stock Exchange in May 1999. •Aspial-Lee Hwa Jewellery remains the first and only publicly listed jeweller in Singapore. •A strong believer in innovation, the company introduced the world’s first 19k solid Purple Gold™ in 2000. •Corporate name is changed to Aspial Corporation Limited in 2001. •Lee Hwa Jewellery Singapore Pte. Ltd. operates as a subsidiary of Aspial Corp. Ltd. •Aspial-Lee Hwa Jewellery is a contemporary fine jeweller whose unique jewellery creations are based on trends and inspirations from the fashion runways every season. •Lee Hwa is a market leader , with 30 boutiques island-wide. Organization Overview

1.Growth - Jewellery recorded revenue of $146.1 million, a growth of 12.6% from $129.8 million in FY2009 (Aspial Corporation Limited 2011). 2.Market Segment - Fashion savvy, confident and contemporary women leading a cosmopolitan lifestyle (Aspial Corporation Limited 2011). 3.Key Players – TianPo Jewellery, Meyson Jewellery Pte Ltd, Soo Kee Jewellery Challenges Faced

Current: 1) Increase of gold price . The gold price has risen by nearly 17 percent so far this year, having hit a record $1,920.20 an ounce in early September before correcting sharply downwards (Milhench 2011). 2) There had been a loss of market for gems and jewellery exports due to recession and global economic slowdown (Bose 2011). 3) Singapore jewellers also face strong competition from overseas: China and India, with their lower cost structure, have substantial manufacturing capability especially in the costume jewellery segment. European countries,...
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