Italian pearl trader and jeweller Coscia has been known for its pearl business over a hundred years. For generations, each leader travelled to the major pearl producing areas around the world seeking for the best quality pearls. Currently in charge by Giancarlo Coscia, the third generation of the Coscia family, the company is expanding its jewellery line in the European market, while stably increasing exports of pearls, cameos and coral to Asia.
In a recent interview, Giancarlo Coscia told Hong Kong Jewellery that since two years ago, Asia especially mainland China has slowed down its economic growth, however, this country still has the highest demand for pearls, including all pearl categories.
Coscia srl launched pearl jewellery in 2000, those set with baroque pearls and pearls of shading colours are extremely favoured by European consumers. He explained: “European consumers pursue stylish pearl jewellery; however, people in mainland China are not ready for such choices of jewellery. Mainstream consumers in China still prefer big and round pearls with excellent lustre and hues. In Europe, our pearl jewellery is sold at branded jewellery stores in a shop-in-shop manner. Recently, we are making efforts to expand our in-store occupation in Rome, Florence, Venice, etc, where the number of Asian tourists is increasing.”
He said: “Ninty percent of our loose pearls, cameos and coral are exported to Asia. We have a very active business based on that. Considering the high tariff and special sales channels, we haven’t planned any strategic penetration into China market for our jewellery brand. Although there is an increasing demand for pearl jewellery with exquisite design and craftsmanship, consumers are not ready for our price range yet. We would slow down our pace but with concrete exploration.”
He mentioned that the prices across all pearl categories increase by 30 to 40 percent every year. Due to decreasing production, he foresees a price hike for all pearl categories especially South Sea pearls in the coming two years. (Photos courtesy: Coscia srl)
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