Sparkling future beckons fashion jewelry

Jewelry in the form of a colorful peacock is displayed in a store in East China's Zhejiang province, Oct 21, 2014.[Photo/VCG]

"Chinese consumers consider fine jewelry an investment tool to maintain their wealth under the more challenging conditions of economic downturn," explained Olaya Huo, research analyst at Euromonitor International.

However, young Chinese like Zhang are quickly developing an appetite for affordable fashion jewelry from foreign brands because of their innovative designs and good reputation.

As the income level of the younger consumers is comparatively lower than that of the elder generation, affordable jewelry products with fashionable and stylish designs are gaining more favor among the younger generation, explained Neil Wang, global partner and greater China president of Frost and Sullivan. "As a result, affordable jewelry products are becoming more and more popular in China."

Austrian crystal brand Swarovski entered the Chinese market in 1995 using a franchise model to distribute its products in the country.

Nowadays, almost half of its stores are directly managed by Swarovski, with the company now gradually trying to take over some of the franchises to strengthen its control over distribution.

Swarovski, which defines itself as a premium, yet affordable name for everyday use, expects to open around 30 more new stores this year to reach 300 commercial spaces across China.

The crystal jewelry group plans to be present in 90 different cities across the country this year, covering 10 more locations than in 2015.