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Primo Diamond Hong Kong Ltd, an affiliate of Primo Japan, celebrates the grand opening of its flagship engagement and wedding ring shop, I-PRIMO, in Hong Kong today (November 14), as part of its continued expansion in Asia.
Hong Kong is the second leg of the company's Asian expansion following the opening of nine shops in Taiwan since 2007. According to the company, the ageing population and low birth rates in Japan have limited domestic business growth and hence it is expanding into Asia to find new sales opportunities, particularly in vibrant cities like Hong Kong where high-spending local customers and visitors aspire to own bridal jewellery.
Primo Diamond Hong Kong Ltd President, Mr Naoki Sawano, said, "We have been exhibiting at the Hong Kong Wedding Expo for the past three years. The response from customers and our sales performance have been solid. According to our research, there are few bridal specialty shops in Hong Kong, so we believe that there is huge potential in the market and decided to open our store in Hong Kong.
"Hong Kong is on the Mainland's doorstep and very close to Taiwan, where we already operate several stores. This proximity offers convenience for us to manage both Hong Kong and Taiwan markets, and expand our business in the Mainland and southeast Asia by using Hong Kong as our hub," he added.
I-PRIMO's flagship shop is located in Causeway Bay and occupies four floors of a building on the prime thoroughfare, Hennessy Road. It offers unique engagement and wedding rings in a multitude of designs featuring high-quality diamonds imported directly from Israel, Russia and Australia. The company plans to open two more shops in Tsim Sha Tsui and Central in the next 18 months and also to open offices and stores in Shanghai and Guangzhou.
The Associate Director-General of Investment Promotion, Mr Andrew Davis, welcomed Primo Diamond Hong Kong Ltd setting up in Hong Kong, saying, "We have a large number of visitors arriving every year and many of them are affluent and willing to purchase quality gemstones. This opens a huge opportunity for jewellery companies like Primo Japan to establish their presence in Asia through Hong Kong."
About I-PRIMO
Primo Diamond Hong Kong Ltd is an affiliate of Primo Japan, a leading bridal jewellery retailer in Japan. It specialises in diamonds for bridal jewellery and provides professional advice to customers searching for unique and ideal engagement and wedding rings. Established in 1999, Primo Japan operates 68 stores in Japan comprising 58 I-Primo shops and 10 Lazare Diamond shops, and nine shops in Taiwan. For more information, please visit www.iprimo.hk.
About Invest Hong Kong
InvestHK is the department of the Hong Kong Special Administrative Region Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As at June 2012, InvestHK had completed over 2,600 investment projects, creating more than 30,000 new jobs in the first year of operation or expansion and HK$67 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit: www.flickr.com/photos/investhk/sets/72157632003220385/.
Ends/Wednesday, November 14, 2012
Issued at HKT 14:02
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