The China Daily newspaper recently published two articles about the fact that the phenomenon of diamond brands is gaining momentum in the country. The first article focused on Tiffany & Co, which aspires to expand its selection of rings in China from engagement and wedding rings to rings marking other festive occasions.

Tiffany & Co, which already operates four stores in Shanghai and Beijing, is planning on opening an additional store in Tianjin next month as well as a store in Shenyang in January. A senior company representative noted that it plans to open three to six new stores each year in China.

Although China is not yet perceived by Tiffany, which operates 160 stores worldwide, as a significant market share, the company believes that China will become a central market for the leading luxury jewelry retailer.

Another article was published about the Chinese brand called Hiersun. This is a relatively new brand which has been active for 8 years. Its owner, Li Houlin, is only 34. After working for two years in a government jewelry company, he opened his own business with loans from family and friends.

While local brands competed with each other over prices, Li decided to market diamond jewelry as luxury products: The product is a luxury, as is the buying experience, and the price is not subject to negotiation.

The first store opened in Beijing and within two years, four additional stores were opened. In the next three years, Li plans to open 50 additional stores, albeit smaller ones.