As the global economy and consumer behavior change rapidly, Jubilee Diamond under the leadership of Anurat Pornprakert, has proven the vision of Thailand's leading diamond jewelry business by moving beyond being merely a retailer to become a Lifestyle Curator, designing holistic experiences to firmly retain its premium customer base.
Amid a clear slowdown in purchasing power starting in 2024, the brand has made a major strategic shift to focus on affluent customers who prioritize the “value” of life over mere ownership.
Anurat Pornprakert, Chief Executive Officer of Jubilee Enterprise Public Company Limited, revealed that today's premium consumers seek meaningful experiences and long-term quality of life care, not just products. Jubilee Diamond is therefore developing experiences that meet lifestyle and health needs to build lasting customer relationships.
The core driving force of the brand today is the Experience-Driven Brand strategy, exemplified by the master project “Blossom of Vitality: The Jubilee Wellness Journey,” which creates a new dimension of experiential luxury by taking members of the Jubilee Sparkling Club on a legendary SRT Royal Blossom train journey to Hua Hin.
Participants enjoy three dimensions of experience: Exclusive Travel, Diamond, and Wellness. Highlights include a Diamond Jewelry Preview featuring the special Viva Brilliance Bloom Collection, allowing close interaction with the pieces, and wellness and longevity activities supervised by expert medical teams from Samitivej Hospital to promote physical and mental health balance throughout the trip.
Additionally, Jubilee Diamond collaborates with Dusit Thani Hua Hin hotel to curate exclusive hospitality experiences and CSR activities supporting community development and environmental sustainability, reflecting a commitment to sustainable growth.
Anurat added that this deep adaptation includes sharp customer data analysis, leading to a structured segmentation of VVIP groups: Centennial, Infinite, and Prestige. Although small in number, they contribute up to 35% of total spending, especially the Centennial group with cumulative purchases over 5 million baht.
“Responding to economic conditions based on consumer insights from the past two years, Jubilee found that purchasing power among mid-level customers, who once made up 50% of sales, has clearly declined. The company therefore shifted strategy to focus on retaining high-spending upper-tier customers, even though their spending behaviors are somewhat influenced by negative sentiments from ongoing news. Moreover, data shows that over 70% of customers buy diamonds to wear daily, not just for safekeeping, as diamonds enhance beauty and boost the wearer’s confidence.”
Jubilee also sees an opportunity to expand its base to younger self-made individuals aged late 20s to 40s who seek jewelry reflecting their unique identity. In Q3, the brand plans to launch a Flagship Store offering a luxurious, distinct experience from typical department stores, alongside introducing AI technology to add value to jewelry.
Ultimately, Jubilee Diamond’s entire strategy focuses on creating a consistent “Mood & Tone” and long-term relationships through a strong loyalty program, The Sparkling Club, which currently generates over 50% of sales from repeat purchases.
Jubilee is committed to conveying confidence that diamonds are assets that not only retain value over time but also contribute to happiness and quality of life, setting a growth target of at least 10% this year despite global economic volatility.
“Blossom of Vitality is not merely a journey but reflects Jubilee’s philosophy of being more than a diamond brand. We aim to evolve into a Lifestyle Curator delivering valuable experiences that meet every dimension of our customers’ lives,” Anurat concluded.
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