London-based precious gemstones miner, Gemfields (LON: GEM), has revealed a significant surge in the popularity of rubies among Chinese consumers, making them the preferred colored stones in the market. According to Gemfields’ second Chinese consumer report, approximately 61% of the population considers rubies a “desirable” acquisition, with 55% having purchased rubies in the past year.
The report highlights that ruby awareness is nearly twice as popular as the second-place sapphire, and in terms of desirability and purchase, rubies are nearly three times more popular than the second-place emerald. CEO Sean Gilbertson emphasized that the research indicates an “unquenchable thirst” for rubies, presenting a unique opportunity for gem producers amid post-pandemic uncertainties.
Gemfields’ marketing and communications director, Emily Dungey, noted that rubies symbolize protection, prosperity, and passion, reflecting the passion Chinese consumers have for the gemstone.
The report identifies specific preferences among Chinese consumers, linking the popularity of rubies to the aesthetic symbolism of the gemstones in their culture. Responses to the question “What does ruby mean to you?” include “wealth and prosperity” (31%), “tasteful” (29%), and “very Chinese” (28%). The findings suggest potential for innovative ruby product applications, such as personalization and customization.
Gemfields also categorizes three groups of potential ruby consumers: Neo-Socialites, who see rubies as a symbol of social status; Aesthetic Appreciators, individuals enjoying an elegant lifestyle; and Chinese Culture Devotees, appreciating the collector’s value of rubies and their fusion with traditional Chinese styles.
While the report indicates a high level of interest in rubies in the Chinese market, there is a knowledge gap, and consumers express a strong demand for greater transparency in areas such as pricing, certification, mining, and processing. Gemfields, which owns the world’s richest known ruby deposit at the Montepuez mine in Mozambique, aims to address these concerns and capitalize on the growing popularity of rubies in China.
