Having previously positioned itself as a woman's brand, Just Gold is counting on the 'Crossover Denim Collection' - a line of denim and gold accessories - to broaden its appeal to the youth segment.
The shift in strategy aims to offset the growing demand for silver jewellery and gives the brand wider appeal in the Hong Kong market.
Just Gold brand manager, William Hui, said: "Consumers have moved from yellow to white jewellery, and there is no longer any passion for gold.
The retail price index shows there is a double- digit fall in jewellery and watch sales, particularly over the third quarter (of last year). Just Gold itself has seen a single digit decline, while our other brand Just Diamond has had double- digit growth."
The popularity of silver jewellery has been fuelled by its low pricing and the availability of trendy designs which appeal to young buyers. However, through its launch of trendy Levi's-branded accessories, the company hopes to change consumer mindsets that gold is for the "mature woman".
The first Just Gold/Levi's collection is priced between HK$900-$3,000.
"The Asian economies are in a bad state, but the youth segment has relatively high disposable income and this is helping us survive. The pricing will appeal across the board," Hui said, adding that younger consumers tend to be less price conscious and have a higher purchasing frequency.
The alliance is the first global cross-branding initiative for Just Gold, although the company had a brief product involvement with Warner Bros in 1994 when it introduced a cartoon-based jewellery line.
The Hong Kong jewellery sector has been littered with sales promotions encouraging consumers to spend on discounted products. However, this unusual pairing, says Hui, is more than just a marriage of convenience. "This is not just a sales promotion. It justifies our brand positioning in the market."
The denim collection will be available at Just Gold stores in Hong Kong, as well as at five Levi's outlets, where it will be prominently showcased to ensure a wider distribution channel.
The pair have also launched a four-week print campaign created by Just Gold's creative agency, Leo Burnett, and an online campaign developed by e-Crusade. Media buying and placement was handled by Optimum Media Direction.
The print-led campaign shows a wrist, which at first glance appears to be a woman's waist. Added Hui: "We're going for the psychological factor.
It's a compelling visual as we know Hong Kong women pay a lot of attention to their waistlines."