We adopted a multi-tier and multi-brand product strategy, which enables us to cater to a broad range of customers with different and evolving needs and preferences, thereby strengthening our business resilience. As of 31 October 2017, we sell jewellery products of 191 brands, comprising 23 self-owned brands and 168 third-party brands. Our revenue from our self-branded jewellery products accounted for more than 99% of our total revenue in each of 2014, 2015, 2016 and the ten months ended 31 October 2017.

Our self-owned brands cover a wide spectrum of jewellery products catering to customer groups of different ages and spending preferences. Catering to the growing market demand of affordable jewellery products by the younger generation, we embrace the product philosophy of affordable luxury and fast fashion for certain of our jewellery products and regularly roll out on our CSmall platform a wide selection of affordable jewellery products with diversified and fashionable designs. 

Our third-party brands covering a wide spectrum of jewellery products complement our product offerings under our self-owned brands. The jewellery products under third-party brands are made of an array of materials, including gold, silver, platinum, diamonds and various kinds of gemstones.