Lee Hwa eyes market gap with Aspial entry

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

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