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
Growth - Jewellery recorded revenue of $146.1 million, a growth of 12.6% from $129.8 million in FY2009 (Aspial Corporation Limited 2011).
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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