| Hong Kong Jewellery 香港珠寶
News & Highlight


  1. Lab-Grown Diamond Symposium to Take Place in Dubai
  2. JCK Industry Fund Announces 2023 Grant Recipients
  3. GIA Announces Jewellery Design Award Winner
  4. Hong Kong’s Luxury Retail Sales See Highest Rise in Three Years
  5. Chow Tai Fook Announces First Chief Operating Officer
  6. HKTDC Twin Shows Signal Hong Kong Comeback
  7. De Beers Profit Rises in 2022
  8. Rio Tinto Invests $40M in Diavik’s Underground Mining
  9. Gübelin Gem Lab Taps AI For Coloured Gemstone Grading
  10. Vicenzaoro January Exceeds Expectations With Record Attendance
  11. Fancy-coloured Diamonds Outperform Main Markets in 2022, says FCRF
  12. Gucci To Receive Gem Award From JA
  13. Gold Demand In 2022 Soars to A New Decade High, Says WGC
  14. GIA Launches AGS Ideal Report
  15. RJC Appoints New Executive Director
  16. Rio Tinto Production Jumps After Diavik Buyout
  17. Charles Stanley To Retire From De Beers
  18. Tiffany Joins LVMH Watches And Jewellery Division
  19. End-Year Diamond Prices Decline, says RAPI
  20. GIA’s Paperless Journey Begins
  21. Vicenzaoro January Reimagines Fine Jewellery Designs
  22. Gen-Zers favour personalisation over popularity
  23. De Beers Rough Sales Steady At Year End Final Sight
  24. Gemfields Emeralds Take Centre Stage in New Jewellery Collaboration
  25. A 303-carat Golden Canary Shines at Sotheby’s New York Sale
  26. Christie’s New York auction totalled nearly $59M
  27. Pantone’s Color of the Year 2023: Viva Magenta
  28. Christie’s Hong Kong Jewellery Auction Fetched $46M
  29. Gemfields’ 187,775-carat Emerald Cluster Sets Record Price
  30. Yellows Showed Highest Increase in Q3 Fancy-Colour Price Index
  31. GIA Joins Watch & Jewellery Initiative 2030
  32. David Yurman Features First Celebrity Ambassadors in Holiday Ad Campaign
  33. Gemfields To Auction 187,775-carat Emerald Cluste
  34. De Beers Announces Hollywood Star as First Global Ambassador
  35. Kering Q3 Jewellery Sales Remain Strong
  36. Rio Tinto Unveils First Argyle Brand Jewellery
  37. De Beers CEO Bruce Cleaver to Step Down in Early 2023
  38. Price Decline Fuelling Diamond Trade Uncertainty
  39. ‘Williamson Pink Star’ Diamond Sold at New Auction Record
  40. Pandora Unveils First Ever Art Collaboration - Keith Haring X Pandora
  41. Further Growth in Hong Kong’s Luxury Retail Sales
  42. Pandora Unveils First Ever Art Collaboration - Keith Haring X Pandora
  43. Further Growth in Hong Kong’s Luxury Retail Sales
  44. Platinum Jewellery Sales Rise in Key Markets in Q2 2022, PGI says
  45. AGTA Announces New Board Members
  46. Fura Gems Discovers 101-carat Ruby
  47. Lightbox Sells Lower-Quality Lab-Grown Diamonds
  48. 160-Carat Rough Unearthed from Angola Mine
  49. GIA Found Synthetics, Simulant among Four ‘Natural’ Sapphires
  50. ‘De Beers Blue' Might Originate from Deep Earth, Says GIA
  51. New Chairman Elected at India’s GJEPC
  52. Tiffany Launches Its First All Gender Bangle Collection
  53. Pandora Launches Lab-grown Diamond Jewellery Collection in North America
  54. Gemfields Reports Record Revenues
  55. IIJS Premiere Sees Record Number Visitors
  56. Signet Acquires Blue Nile for $360M
  57. Hong Kong jewellery sales slide in H1
  58. Fancy Colour Diamond Price Index Rises
  59. The Potentially Largest Pink Diamond Found in 300 Years
  60. Kering Reports Strong First Half Jewellery Sale
  61. Vicenzaoro Back In September
  62. eBay Offers Fine Jewellery Authentication with GIA Partnership
  63. New Executive Director and Secretary General Appointed for Watch & Jewellery Initiative 2030
  64. VO Vintage Returns To Vicenzaoro September
  65. Sarine Partners With NGTC on Grading Reports In China
  66. Diamond Prices Slide Amid Economic Uncertainty
  67. De Beers, Botswana Sales Agreement Extended
  68. AWDC Appoints David Gotlib As New President
  69. IGI Debuts Online Learning Courses
  70. Swarovski Appoints First Non-Family CEO
  71. Kashmir Sapphire Ring Comes Out on Top at Bonhams
  72. WJA Foundation Launches New Scholarship for Women of Colour
  73. Blue Nile Merges with Mudrick for Its Second IPO
  74. RJC Launches ‘Gender Equality Toolkit’ at JCK Las Vegas
  75. GIA Reports to Go Digital by 2025
  76. Gemfields Achieved Highest Revenue at Emerald Auction
  77. DAMAC Group Now Owns de GRISOGONO
  78. GJEPC Proposes Lab-Grown Diamond Park in India
  79. Pandora’s New Crafting Facility in Vietnam Costs $100M
  80. Q1 Gold Jewellery Demand Soft, Says WGC
  81. Jewellery Buying Groups Formed New Global Alliance
  82. Singapore to Host Jewellery & Gem World 2022
  83. ‘Wonder Woman’ Gal Gadot Premiered in Tiffany’s 2022 High Jewellery Collection
  84. Christie’s to Auction ‘The Light of Africa’ for $18M in June
  85. New Board of Directors were elected to Jewellery Exporters Association of Turkey
  86. Oroarezzo back with Première Competition
  87. ‘De Beers Blue’ auctions US$57.5M at Sotheby’s
  88. CTF launches Mother’s Day collection
  89. Jewelers of America Announces The 2022 CASE Award Winners
  90. De Beers: Diamond Businesses Staying Cautious About Business Expectations
  91. Synthetic Alexandrite Pioneer David Patterson Dies at 89
  93. Rebecca Foerster Appointed As President of Hearts On Fire
  94. US Steps Up Sanctions Against Alrosa
  95. PGI Study Findings: Consumers Have Different Interpretations of Sustainability
  96. Irving Wong Appointed as Pandora’s General Manager For China
  97. Rolex’s 6 New Watches Unveiled at Watches & Wonders Geneva
  98. Sixième Sens par Cartier High Jewellery: Heteractis Ring
  99. Will Russian Diamond Ban Help Foster Lab-Grown Diamond Business?
  100. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  101. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  102. JEWELLERY GENEVA Takes Place between 30 March and 3 April 2022
  103. Christie’s Presents 228 carat White Dimond
  104. Gold Bar Integrity Programme to be Implemented
  106. Early Spring Fashion for Natural Diamonds
  107. Jennifer Garner Shines in De Beers Jewellers at the Premiere in New York
  108. To celebrate its 15th anniversary, “Cartier Women’s Initiative Impact Report”
  109. American Gem Trade Association Announces Partnership with JCK Show Again
  110. Chow Tai Fook and Canada's Mountain Province Diamonds Sign Supply Agreement
  111. Registration Is Open for 2022 JCK Show
  112. Alrosa Caught Up in U.S. Sanctions
  113. Tawhid Abdullah Receives Lifetime Achievement Award
  114. The Largest Blue Diamond Appears at Sotheby’s Auction
  115. Price Rise for Nearly 90% Of Fancy Colour Last Year
  116. Dickson Yewn’s Collectibles Given for Sotheby’s Charity Auction
  117. De Beers Boosts Production
  118. Watches & Wonders Geneva To Be Held In Hybrid Format
  119. Jewellery, Gem & Technology Dubai to Debut February
  120. Hong Kong Losing its Dominance as the World's Largest Watch Market
  121. Gift Guide for CNY
  122. Press Release: Sotheby’s Announces New Appointments To Luxury Team In ASsia
  123. Georg Jensen Becomes a Certified Member of RJC
  124. 555.55-carat Black Dimond Unveiled at Sotheby’s Auction
  125. GIA Appoints Anna Martin as SVP for Institute, Industry Relations
  126. Alrosa Boosts Direct Sales of Fancy Diamonds to Investors
  127. CIBJO General Assembly postponed to March 17 and 18, 2022
  128. 7,525 Carat Emerald Discovered
  129. Karl Lagerfeld Jewellery Collections to Shine
  130. Diamonds Travel To The Space
  131. Vicenzaoro January postponed to March
  132. America’s Youngest Jeweller Starts Business via Instagram
  133. Concerns over conflict gold arise again
  134. The 1st International Gemstone & Diamond Trade Summit Wraps Up in Macao
  135. The Knot’s Study:Over 30% of Respondents Say Natural Diamond Unimportant
  136. Pantone’s 2022 Colour of the Year: Very Peri
  137. Phillips Jewellery Auctions Fetch over HK$181 Million
  138. The World’s First Pure Gold Castle of Magical Dreams by CHOW TAI FOOK
  139. Jewellery Sales Jumped 78% During the Thanksgiving Holiday
  140. Gem Auctions DMCC’s Debut Auction Successful
  141. Cartier’s Christmas Tree Lights Up the City with Love and Hope
  142. Rediscovering Lacloche in Hong Kong
  143. Blue diamonds to lead Christie’s HK autumn sale
  144. JMA show to stage next Thursday
  145. HK auction to help Cambodian kids
  146. Basel fair cancelled again
  147. HKDI show to continue in Dec
  148. Gemfields sells 7,500-carat emerald for good
  149. Sustainability is key to diamond purchases, a report says
  150. Christie’s Geneva jewellery sale fetches CHF53.7m
  151. Cibjo forms working group on fei cui standards
  152. Only Watch raises CHF30m for DMD research


  1. US market unfolds changes and potential
  2. The queen of gems, the gem of queens
  3. Classics return


  • Ken Lo, HKJJA president and director
  • Trade fairs are the main source of business opportunities for jewellery exporters. (Photo courtesy: HKTDC)
  • The renowned Asian District at Vicenzaoro fairs is organised by HKJJA.

An interview with Ken Lo on the post-Covid Hong Kong jewellery industry

The jewellery industry has fared better than expected under the gigantic impact of the Covid-19 pandemic which has literally killed the global jewellery business since early 2020. Surging demand for luxury products from China and the United States has shielded the industry from further storms. Ken Lo, president and director of Hong Kong Jewellery & Jade Manufacturers Association (HKJJA) has talked with Hong Kong Jewellery, shedding light on some of the trending topics in the industry − the China factor, the new normal, trade fair prospects and industry outlook.


The swift lockdown in China early last year amidst the initial outbreak of the pandemic had brought all manufacturing activities in the country to a halt. It came as a wakeup call for Hong Kong manufacturers who have shifted over 90-percent of manufacturing procedures northwards to diversify their production locations. What would you say about it?

Everything happened so quickly. It caught everyone off guard when production just came to a complete stop in China during the initial lockdown. A question sprang to our mind: “Should we reach out to other production bases to diversify risk?” While the idea started to grow, we noticed that the social and economic activities in China were steadily getting back on track in a few short months thanks to the decisive anti-pandemic measures taken by the central government to contain the virus. Instead of relying less on the Mainland, we have reinforced our believe in producing in the Mainland in future.

Over the years, Hong Kong manufacturers have been on the lookout for alternative production bases when facing the surging costs in China. Thailand, Vietnam and Turkey are among the mostly sought destinations. During the Sino-US trade war started mid-2018, some jewellers shifted to produce in those countries in a bid to avoid the additional import tariff levied by the States. In the end, however, most of us still prefer to produce in China for effective communication. After all, language barrier is the hurdle of producing in non-Chinese-speaking regions.

A recent trend has seen a growing number of Hong Kong companies relocating value-adding processes including design and mould making back to the city from the Mainland where the escalating production costs have narrowed the gap with Hong Kong.


Navigating the new normal has become the order of the day. How do you see “the new normal” from a jeweller’s perspective?

We have seen quite a few online exhibitions from around the globe over the last year and a half. As a matter of fact, I had suggested we do more virtual events right in the early stages of the outbreak when travel restrictions were getting tighter. 

I think the size of live exhibitions in near future would reduce with bigger booths and lesser participants due to the social distancing measures on one hand, and the shrinking market on the other. Event organisers should take note of this new norm.

Physical shows are beyond comparison in terms of effectiveness, which is apparent from the unenthusiastic responses from digital-show participants. Although a certain kind of merchandise at below HK$10,000 retail, for instance, can sell online, I think most of the fine jewellery have to be touched and viewed before a deal can be closed.

For most of Hong Kong’s jewellery manufacturers who target overseas markets, e-commerce is not mainstream. Nevertheless, we should not neglect the accelerated pace of digitalisation brought on by the pandemic. At the end of the day, it is the online-to-offline business model that perfects customer’s experience.


How has Hong Kong’s jewellery industry been faring in the Covid crisis?

During the lockdowns, the number of visitors from mainland China has drastically slashed. However, the impact on local retailers has been relatively less severe as mainlanders are not their sole customer base. Most of the stores can still sustain normal activities with restrained local consumptions, while some were shut or operated shorter hours.

The manufacturing and export sector, nevertheless, has been heavily stricken by the pandemic which shattered the entire jewellery supply chain with mines closed, factories shut down, trade fairs cancelled. Although we could do nothing to reverse the situation as we were rather passive, we fought for survival with perseverance and determination. Some jewellers still travelled abroad to secure orders, while some others had to seek to wage reductions or retrenchments.

On the positive side, most of us in Hong Kong are SMEs with a small headcount. The local government and the banking sectors have taken financial measures to help us ride through these difficult times. As our major export markets are gaining momentum, I believe our industry will soon be getting back on track.


Hong Kong’s jewellery exports during the first five months this year achieved HK$28.6 billion, the highest over the last decade year-on-year, with China having the lion’s share. How would you interpret the encouraging figures?

It is a straightforward calculation. Let’s say we have an annual budget of HK$100 for jewellery. Due to the health crisis in 2020, we did not spend the money and saved it up for 2021. For some, even if they spent HK$20 to buy something else in 2020, and decided to cut the 2021 budget by half to HK$50 owing to the recent salary cut, they still have an aggregate sum of HK$130 to spend on jewellery in 2021, much higher than the annual average. It explains the soaring demand for jewellery this year.

China accounted for nearly 38 percent of Hong Kong’s total export values during the said period, ranking the top market. It was the first major economy to spring back from Covid-19. The robust recovery, growing consumption power, together with the so-called “revenge spending” did contribute to the staggering number.

Nevertheless, the export boom will lose steam in a longer term when consumer demand growth in China becomes moderate as the pent-up demand has come to fruition. A period of market adjustment will follow. It is difficult to predict the level of adjustment at this moment. Even if it is on a downward trend, it will outshine the 2020 performance. I think the worst seems to be over for Hong Kong’s jewellery industry.


Moving into new markets is a constant quest for Hong Kong’s jewellers. Would you give us some hints on making a prudent choice?

At the onset of Covid-19, the Sino-US trade war was in full swing. The subsequent tariffs and trade barriers set by the United States have made imports to the country difficult. I told our association members that we should not rely too much on the western markets, but gain greater access to the Mainland where the population size is larger than the States and Europe combined.

Over the years, we have looked to make inroads into emerging economies such as Vietnam, Myanmar, Indonesia, etc. They have their own market uniqueness, strength and potential. However, when it comes to a promising market, purchasing power, industry integrity and trade regulations are paramount. China is unbeatable in this regard.

Meanwhile, we are not going to give up the traditional European markets including Italy, United Kingdom, Switzerland, France, Germany, etc. Our association has forged a very close bond with the Vicenzaoro fair in Italy, for instance. The Asian District, formerly Hong Kong Pavilion, we co-organised with the International Exhibition Group (IEG) is unarguably the largest overseas national group in the fair. Despite the reduced scale in recent years due to global economic downturn and the pandemic, we hope to bring the best from Hong Kong to Vicenzaoro, the window to the sophisticated markets in Europe.       


What is your outlook for Hong Kong’s jewellery industry?

It is said that when there are people, there are demands for jewellery. The staunch support from the huge domestic market in the Mainland has bolstered my confidence in the future of Hong Kong’s jewellery industry.

China remains the jewellery manufacturing hub for Hong Kong despite the sanctions and additional import tariffs charged by the States during the trade disputes with the Mainland. I see no reason not to maintain the most effective Mainland-Hong Kong collaboration in future.

The United States will keep topping the list of our export markets besides China. I really hope, in the post-Covid era, the US jewellery industry would be more regulated in trading terms. After all, we have suffered enough of the unfavourable practice of purchasing on-credit all these years.      


← Back