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Retailer expands presence in China through franchising

20 november 2009

Diamond jewellery retailer Tesiro plans to expand its distribution network in China through franchising to add to the 100 stores in the mainland that it wholly owns.
Over the next three years, the retailer plans to open 500 franchise stores in China’s second- and third-tier cities. The move follows the successful launch in January 2009 of the Blue Flame diamond, which was developed by Tesiro’s mother company, Eurostar Diamond Traders NV of Antwerp.
The retailer first set foot in China in November 2005, when it started opening its wholly-owned stores in major cities, including Beijing and Shanghai, and the provinces of Zhejiang and Jiangsu. It believes that franchising will further expand the market reach of the Blue Flame cut nationwide. A Blue Flame-cut diamond has 89 facets and has a mirror-reflection effect that enables optimum facet proportion, symmetry and maximum light dispersion.
In June 2009, the retailer opened about 10 franchise stores in Fuyang City, Anhui Province and Shangyu City, Zhejiang Province. Richard Shen, CEO of Tesiro (China), expects the company to open a total of 80 franchise stores across China this year.
 
Yekaterina Davydova, Rough&Polished Asian Bureau Editor in Beijing