Lee Hwa eyes market gap with Aspial entry

<p>SINGAPORE: Branding consultancy Interbrand has snagged the Lee Hwa </p><p>business, helping it to create and launch its jewellery label Aspial </p><p>internationaly. </p><p><BR><BR> </p><p>The local jeweller has been prodded to launch its jewellery label after </p><p>discovering a gap in the market for a sub premium jewellery brand. It </p><p>expects to position Aspial between mass-market choices and the top </p><p>premium brands such as Cartier. </p><p><BR><BR> </p><p>Aspial's core target will be 25-35 year-old women with monthly </p><p>disposable incomes of Sdollars 3-5,000 (USdollars 1,660-2,770) who can </p><p>afford to spend Sdollars 1-2,000 on jewellery. The company will retain </p><p>Lee Hwa as its entry level brand, with prices averaging Sdollars </p><p>300-dollars 500. </p><p><BR><BR> </p><p>Aspial - which is derived from a Latin word meaning "pathway to </p><p>inspiration" - has been selected for international markets because the </p><p>Chinese name Lee Hwa is seen as inappropriate for Western markets, said </p><p>Kim Faulkner, managing director of Interbrand Singapore, which developed </p><p>the brand name. </p><p><BR><BR> </p><p>"If you marketed Lee Hwa in London, for example, people wouldn't think </p><p>it is a luxury brand," said Faulkner. </p><p><BR><BR> </p><p>"They'd say it's Chinese and think it was made in China. Sadly people </p><p>don't associate fine jewellery with China." </p><p><BR><BR> </p><p>Faulkner said the objective is to create a brand identity that is </p><p>distinctive and difficult for other jewellery companies to copy." </p><p><BR><BR> </p><p>Four ad executions - created by Interbrand - are appearing in Singapore </p><p>women's fashion magazines - Female, Her World, Peak and Tatler - and the </p><p>local English daily. Each ad tells a story about the inspiration behind </p><p>particular pieces of Aspial jewellery. </p><p><BR><BR> </p><p>To develop its overseas presence, Aspial is expanding distribution </p><p>overseas. </p><p><BR><BR> </p><p>Aspial is available in seven overseas cities, including Dubai, Hong </p><p>Kong, Beijing and London. In Singapore, the company has revamped 11 of </p><p>its stores for the Aspial brand while the remaining 10 are Lee Hwa </p><p>outlets. </p><p><BR><BR> </p>