Eyeing the growing tourism industry in Cebu, a wholesale and retailer of pearl accessories and jewelry is optimistic to generate better sales inventory this year as more and more foreigners and even balikbayans frequent the city.
KI Pearl is considered as one of the pioneering store outlets in Ayala Center Cebu as it started operation in the mall last December of 2004. Targeting the high-end clientele composed of foreign tourists, balikbayans and domestic pearl aficionados, KI Pearl is bent on showcasing its unique designs as their biggest selling factor.
In an interview with KI Pearl Sales Manager Rey A. Cariquitan, he said that, “our unique design is the biggest factor why locals and foreign markets still continue to purchase our fresh water and south sea pearl products.”
KI Pearl sells pearl necklaces, rings, bracelets, earrings, mother of pearls, pendants, as well as other jewelries with semi-precious stones like turquoise, amethysts, rose quartz, garnet, corals, tourmaline, amber and blue topaz. Its prices ranges from P 300 and above for its pendants, P500 and above for earrings and P 1000 and above for the necklaces.
Despite of the fact that pearl products are high-end goods, Cariquitan pointed out that there is still a huge market for it in the marketplace. “There is still a big market for pearl here in the country especially that tourist from all over the world are coming here in Cebu being one of the top tourism destination of the country,” he said.
In 2007, Cariquitan discussed that their sales have reached a break even point but still surpassed their expectation and for 2008, they are looking at doubling the digits they have earned in their past inventory.
KI Pearl sourced their pearls from suppliers in Hong Kong and in Palawan and all their products are designed by a Japanese designer. KI Pearl’s mother company Alenter Marine Corporation used to own a pearl farm in Maribago.
KI pearl jewelries and accessories products are displayed in five star hotels in the country such as: the Shangri-La Mactan Island Resort gift shop, Alegre Beach resort gift shop, Marriott Cebu Hotel gift shop, Hilton Resort and Spa at the Lorraine’s Boutique, Tesoro’s Marketing in SM City Cebu and the Mactan International Airport, The Peninsula Manila newsstand and gift shop and the Renaissance Makati City Hotel kiosk.
“We have ever since established a name of our own in the country’s jewelry industry and even if there are a couple of competitors, we are confident as we are one of the major players and we receive a steady stream of return clients who also do referrals for us,” stressed Cariquitan.
KI Pearl experiences peak sales during events like Christmas, valentines, summer and during special events where diplomats, expatriates from abroad comes to Cebu.
Pearl is one of the most abundant precious stone in the country but because pearl is also a pricey stuff, it has been inevitable for other stores to also venture into selling fake pearls that could be afforded by the mass market. But KI Pearl is very confident of the quality of their products in fact, they issue certificate of authenticity.
“We are very conscious with the quality of our products so we try our best to provide unique and quality designs to our customers and we ensure them that what we sell are fresh and genuine pearl,” Cariquitan expressed.
For consumers to determine if a pearl is genuine it is advised that before purchasing, the product should first be rubbed against another because a genuine pearl produces sandy residue but the scratches disappear while for a fake pearl, the scratches remains visible after it is rubbed.