Lee Hwa
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.
• 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.