Core Insights - HEFANG, a luxury jewelry brand from Zhuhai, Guangdong, is planning to expand its business overseas starting in 2024, focusing on brand positioning and establishment rather than just sales volume [1][3][6] Company Overview - Founded in 2012, HEFANG operates in the affordable luxury jewelry segment, similar to brands like Pandora and APM Monaco, and has opened around 70 stores primarily in first- and second-tier cities in China [3][4] - The brand's annual revenue was reported to be under 500 million yuan, with sales growth in recent years, and it achieved the highest sales in the jewelry category during the 2025 Tmall Double 11 event [3][4] Market Context - The Chinese fashion jewelry market, where HEFANG operates, has shown fluctuations, with market sizes of 966 billion yuan in 2023, 909 billion yuan in 2024, and 942 billion yuan in 2025, indicating a lack of continuous growth [7] - HEFANG's decision to go international is influenced by increasing competition and changing consumer preferences for cost-effective products, leading to a reduction in average selling prices from 3000 yuan to around 1500 yuan [6][7] International Expansion Strategy - HEFANG is pursuing a dual approach for international expansion, utilizing both third-party platforms like Taobao and establishing its own independent website to reach broader global markets, particularly in Europe and North America [8][11] - The brand's independent site is expected to launch in Q4 2024, as European and North American consumers prefer shopping directly from brand websites [11] Brand Positioning and Marketing - HEFANG aims to leverage its international design language and existing brand recognition to penetrate the mature markets of Europe and North America, where the understanding of designer brands is already high [11][14] - The brand is also engaging in collaborations with influencers and fashion bloggers to enhance its visibility in overseas markets, similar to its domestic marketing strategies [13][14] Supply Chain and Production - HEFANG is enhancing its supply chain capabilities by establishing a foreign trade design center in London and a production base in Vietnam, with plans for a facility in Thailand, to better respond to global market demands [15] - The brand's strategy includes maintaining a consistent product offering across markets while also being adaptable to local preferences [14][15] Long-term Vision - HEFANG is focused on long-term brand building in international markets, emphasizing the importance of patience and sustained investment rather than immediate sales growth [16]