Gemfields says Rubies are Making Headway in the Chinese Market
Staff Writer
January 10, 2024
Markets News Suppliers & Equipment China Diamond
Gemstone mining company Gemfields says that rubies are becoming the “favourite coloured stones among Chinese consumers.” with about 61% of the population considering a “desirable” acquisition.
Among the findings outlined in Gemfields’ second Chinese consumer report, the miner says that, in terms of awareness, ruby is nearly twice as popular as the second-place blue sapphire. When considering its desirability, Gemfields notes that the red gemstone is nearly three times more popular than emerald.
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Chief executive Sean Gilbertson says the new research shows “an unquenchable thirst” for rubies amidst post-pandemic uncertainties, representing a unique opportunity for gem producers.
“Rubies are said to symbolize protection, prosperity and passion, and it is clear from this market research that Chinese consumers are passionate about rubies,” says Emily Dungey, Gemfields’ marketing and communications director.
Chinese consumers, when asked “What does ruby mean to you?”, the most popular responses of “wealth and prosperity” (31%) and “tasteful” (29%) were closely followed by “very Chinese” (28%), with respondents sharing that they see ruby as a symbol of traditional Chinese culture and the embodiment of “new Chinese” aesthetics, which is suitable for incorporation into everyday new Chinese dressing style, the report says.
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