Swarovski is ‘playing the long game in China’, CEO Alexis Nasard says

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Austrian crystal maker Swarovski has launched a lab-grown diamonds collection in China. The collection, called the 'Created Diamonds Collection', is available at 34 stores in mainland China and three in Hong Kong. Swarovski CEO Alexis Nasard stated that China is a very important market for the company, and they are deeply committed to the region. The collection offers better value for money compared to mined diamonds and is made with renewable energy and recycled metals. The regular range of the collection is priced from 3,000 yuan to 95,000 yuan, while the made-to-order high complication collection ranges from 135,000 yuan to 1.8 million yuan. China currently represents 15% of Swarovski's sales, and the company plans to open a few more stores in the country. Swarovski is also interested in expanding in Southeast Asia, particularly in Singapore, Bangkok, and India. Nasard emphasized the importance of retail presence in top cities, where most of the middle class and affluent people who can afford the brand are living.