Gold prices have recently hit new highs, raising concerns in the domestic jewelry industry. For companies like K Jewelry, which relies on offering cost-effective options, increasing prices is a tough decision. They fear it could lead to losing customers.
In response, jewelry brands are exploring alternatives, including 10K gold, silver, and plating, which are more affordable. According to the fashion industry on February 20, Didier Dubo, a brand under Sejeong Group, is adjusting its strategy to increase sales of gold alongside other materials like silver and brass.
Domestic jewelry brands, which cater to cost-conscious consumers, are especially wary of raising prices. Didier Dubo, for example, increased its prices by an average of 9% late last year due to rising costs. At the same time, the company is focusing on promoting more affordable silver products.
Didier Dubo has also started offering more 10K gold jewelry, responding to customer demand. While 18K and 14K gold jewelry, which have higher gold content, have traditionally been popular, 10K products are gaining traction. Customers are increasingly drawn to 10K items, which offer better cost-effectiveness, even though they have lower pure gold content.
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