HANGZHOU, China, Nov. 7, 2014 /PRNewswire/ -- On November 11th, 2014, eight leading Chinese jewelry brands including Tesiro, Baocheng and Chow Tai Fook, will be showcased on the large electronic screen overlooking Seventh Avenue as it passes through Times Square, with promotions to continue on the screen for the subsequent week. The eight brands will take part in the November 11th Singles Day promotion hosted by Alibaba Group.
The fledgling Chinese jewelry market, an industry that is seeing consolidation in tandem with an improved industry chain, is gaining brand awareness. The eight brands being showcased in New York's Times Square represent the major players across the sector, including 169-year-old Baocheng, Chow Tai Fook, the world's largest jeweler brand when measured by stock market value, Zocai, the online diamond retailer with the highest combined annual sales over the last 10 years, Siwuxie, committed to Chinese-style gold jewelry, Tesiro, official partner of Berlin International Film Festival, Kela, China's largest jewelry e-business firm, CHJ, committed to fashionable mosaic gold products and Zen-Shop, an advocate of traditional Chinese Buddhist culture, each of which are leaders of their respective segments.
The 11.11 Shopping Festival, or "Singles Day," began in 2009 with 27 brands and this year more than 27,000 brands and merchants from Tmall.com will participate. During last year's event, $5.8 billion worth of goods were sold via Taobao Marketplace and Tmall.com.