Terence Shih’s appearance gives people the impression of practical businessman. Having had a chat with him, you know that he is a Fujianese. When sharing about his career starting from the early 1990s, Mr. Shih was referred by his relative who operated a jewelry shop. For running the jewelry business with the relative, he borrowed several thousand dollars from his family and friends.
At that time, he brought with him dozens of jewelry, going to jewelry shops in different locations of Hong Kong to sell them. As described by Mr. Shih, several pairs of his shoes were showing wear and tear. Sometimes, people were ironic to him, saying that it’s too late for him to join the jewelry industry. Luckily, he kept a faith, “I have my room to survive”. Eventually, he received the first order in Tsuen Wan and gained HK$100. It was under this situation that he began his career in jewelry. In 1993, he set up Dai Sun Jewellery Co Ltd. This is a turning point in his career.
Initially, Mr. Shih only engaged in diamond jewelry wholesale on his own mainly in Hong Kong. With the participation in Hong Kong Jewellery & Watch Fair, Dai Sun had a number of buyers, gradually covering diamond jewelry export as well. As a manufacturer, wholesaler and exporter, Dai Sun presently provides a complete range of fine jewelry set with diamonds in 14K, 18K, PT900 & PT950 available in classic, trendy and innovative designs. He said, “Our new production plant has moved to Panyu, China in February 2006 with an area of 3,000 square meters. We launch over 1,200 collections of modern jewelry every year.” With major markets in Hong Kong, the Middle East, South East Asia, China, the USA and Europe, Dai Sun offers its fine jewelry to importers, wholesalers and chain stores at very competitive price.
Eyeing the huge potential in China for diamond jewelry, Dai Sun ventured into China’s retail market in 2003. Mr. Shih expressed, “Chain store management is profitable. Problems can be solved if we lay good foundations on taxation, commercial tax, and human relations.” In late August 2003, thinking that he is a Fujianese and operating under the brand of “Dai Sun Jewellery”, he opened his first chain shop at Quanzhou City of Fujian Province. Then the first Dai Sun flagship store was established at Jinjiang City of Fujian Province. Counters at Haiya Department Store were also opened at Baoan District and Dongmen District in Shenzhen. At the same time, Dai Sun Jewellery Co Ltd and the company logo were formally registered in Mainland China, knowing as the Brand of “Dai Sun Jewellery”.
In order to stand out corporate brand and image, the overall design of shops is unique and grand, making use of two theme colors - brown and gold. In exhibitions, booths are set up identically with the same design, mood and tone. 4 standard booths are used to form a mega booth, thus giving customers more room to further understand the brand of “Dai Sun Jewellery”.
When talking about operating management, Mr. Shih expressed, “We believe that our determination to achieve the highest level of customer satisfaction will help us build up long term customer relationship. We offer reasonable price, excellent design, quality and good customer service. As such, strengthening staff training is essential. We will regularly provide staff with product knowledge and sales technique; help them understand our brand and customers’ needs, thus enhancing our corporate image and competitive edge. Word of mouth and excellent service will definitely attract customers to come again.”
Looking ahead, Mr. Shih hoped to open a few more chain shops in China, aiming at big company management for realizing the motto of “Standing firm in Fujian, Moving towards China”. Referred its business to as franchise, market penetration is relatively high. Dai Sun will actively participate in international jewelry shows to further explore overseas markets.
Apart from money, Mr. Shih is very popular among staff. He said, “More communication with staff, exchanging views and understanding their needs while growing up can develop their sense of belongings.” Whenever he visits his business, he treasures the time with staff for gathering, opening his mind to staff while chatting to them and is willing to share his achievement. Perhaps this is one of the factors leading to his success.
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