Demand for bling rises 50 percent
Demand for wedding rings and jewelry on
the domestic market has sharply increased by 30-50 percent in recent
times despite climbing gold prices.
Demand for wedding rings and jewelry on
the domestic market has sharply increased by 30-50 percent in recent
times despite climbing gold prices.
Domestic jewelry companies have sometimes faced gold shortages, affecting their ability to produce wedding products, despite stockpiling high volumes of gold for the wedding season. However, their revenues from wedding rings have significantly increased.
Nhat Nam , an official from Bao Tin Minh Chau Joint Stock Company, said that the company’s revenue had recently increased by 30 percent over the corresponding period last year.
On some days, he added, the company sold 800-900 products including 60-100 pairs of wedding rings.
A representative of Phu Nhuan Jewelry JSC (PNJ) agreed that demand for wedding rings and jewellery had been increasing.
Pham Thuy Dung, director of PNJ’s Hanoi Branch said her company’s revenue from wedding rings had increased by 40-50 percent.
This year, couples prefer simply designed wedding rings costing from 2 million VND (110 USD) to 5 million VND (270 USD). Customers no longer like buying a pack of wedding jewelry including necklace, rings and bracelet.
Since September, gold prices have increased to nearly 24 million VND (1.340 USD) a tael, a 20 percent on last year.
In recent days, while gold prices on the world market have declined or slightly increased, prices of gold on the domestic market have kept increasing due to increasing demand on wedding jewelry.
On Oct. 27, gold prices at SJC increased to 23,870 VND (1,326 USD) per tael./.
Domestic jewelry companies have sometimes faced gold shortages, affecting their ability to produce wedding products, despite stockpiling high volumes of gold for the wedding season. However, their revenues from wedding rings have significantly increased.
Nhat Nam , an official from Bao Tin Minh Chau Joint Stock Company, said that the company’s revenue had recently increased by 30 percent over the corresponding period last year.
On some days, he added, the company sold 800-900 products including 60-100 pairs of wedding rings.
A representative of Phu Nhuan Jewelry JSC (PNJ) agreed that demand for wedding rings and jewellery had been increasing.
Pham Thuy Dung, director of PNJ’s Hanoi Branch said her company’s revenue from wedding rings had increased by 40-50 percent.
This year, couples prefer simply designed wedding rings costing from 2 million VND (110 USD) to 5 million VND (270 USD). Customers no longer like buying a pack of wedding jewelry including necklace, rings and bracelet.
Since September, gold prices have increased to nearly 24 million VND (1.340 USD) a tael, a 20 percent on last year.
In recent days, while gold prices on the world market have declined or slightly increased, prices of gold on the domestic market have kept increasing due to increasing demand on wedding jewelry.
On Oct. 27, gold prices at SJC increased to 23,870 VND (1,326 USD) per tael./.
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