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HomeLife Style"Cebuana Lhuillier and Sparkles.ph: Redefining entry-level jewelry accessibility in the Philippines

“Cebuana Lhuillier and Sparkles.ph: Redefining entry-level jewelry accessibility in the Philippines


Hi Earthlings! Exciting news in the world of jewelry! Cebuana Lhuillier is making waves in the Philippines in partnership with the new and innovative Sparkles.ph. Together they will win over budget-conscious shoppers who like some jewelry but don't want to spend too much.

So, here’s the scoop: It’s a global trend that people want affordable luxury, but the Philippine market is still catching up. It's here that Cebuana Lhuillier's parent company, PJ Lhuillier Inc., saw a once-in-a-lifetime opportunity (pun intended!). They discovered Sparkles.ph, a company that was growing at 20% monthly and already profitable, and knew it was the best choice to enter this market.

Cebuana Lhuillier President and CEO Jean Henri Lhuillier is supporting Sparkles.ph with a $2 million equity investment and credit line. This funding is a game-changer for Sparkles.ph, helping them increase production, expand their product range, and attract more customers. This is a solid vote of confidence in what Sparkles.ph is doing and where they are going.

So, what makes Sparkles.ph so special? They offer unique pieces like “Ampaw Gold” and lightweight jewelry that are perfect for entry-level buyers. Imagine buying an 18K gold chain with a pendant for around 1,200 pesos, or a cute 18K gold pendant for 699 pesos. It's no wonder they're popular with fashion-forward people on a budget.

Cebuana Lhuillier, on the other hand, is more than just a financial services giant with nearly 3,500 branches in the Philippines. They also offer a wide range of jewelry under their own brand. Their services include pawnbroking, micro-savings, micro-insurance, micro-loans and remittances to meet a wide range of financial needs.

Jean Henri Lhuillier said it best: “We see a huge opportunity in the entry-level jewelry market and believe Sparkles.ph is well-positioned to lead this segment. Our partnership will not only provide the necessary capital for growth, Also integrate Sparkles.ph into our ecosystem to create value for our customers and stakeholders.

This partnership is a win-win. Sparkles.ph can leverage Cebuana Lhuillier's market presence and expertise to accelerate its growth while Cebuana Lhuillier taps into the booming entry-level jewelry market.

Ryza Dipatuan-Razo, President and Founder of Sparkles.ph, is equally excited: “Joining forces with Cebuana Lhuillier marks a pivotal moment for our fintech/e-commerce startup. The funding and strategic partnership in Cebu will allow us to scale massively our business and realize our vision of making pawnable jewelry affordable to every Filipino. We are excited about the future and the opportunities this partnership will create.

As Cebuana Lhuillier and Sparkles.ph embark on this exciting journey together, they are both poised to make huge waves in the entry-level jewelry market. This partnership demonstrates the magic that happens when innovative startups and established industry leaders come together to create new opportunities and drive growth. Keep an eye on them – they’re definitely worth keeping an eye on!



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