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News

  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
  92. 205 CARAT FANCY INTENSE YELLOW DIAMOND GENEVA MAGNIFICENT JEWELS | 11 MAY 2022
  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
  105. Press Release: BONHAMS ANNOUNCES ACQUISITION OF BRUUN RASMUSSEN AUCTIONEERS – DENMARK’S LEADING AUCT
  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
Read More...


HIGHLIGHT

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

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  • Continental Jewellery sees a rise in demand for lightweight jewellery as people become budget-conscious amidst pandemic.
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Tides over pandemic crunch

 

Lockdowns and travel restrictions issued in response to the Covid pandemic have deterred local customers and international visitors from splurging at brick-and-mortars, prompting jewellers to evaluate their business plans and redevelop business models. 

Hong Kong’s fine jewellery exports reported a 41-percent year-on-year slump in the first five months of 2020 while hard-hit retail sales remained in the negative territory for two years. However, when one door closes, another window opens as purchases have moved from offline to online sales channels. The uptake of e-commerce sales has altered the ways to serve patrons and attract potential clients. In a recent interview with Hong Kong Jewellery, jewellery manufacturers and exporters based in Hong Kong and Thailand shared their insights on how the unprecedented virus outbreak has transformed the business landscape and their strategies to stay competitive and relevant with their B2B and B2C customers during the tough time.  

 

When social media takes the stage 

Being digitally active is more vital than ever for brands when the pandemic has accelerated the shift towards a more digital world and triggered changes in online shopping behaviours that are likely to linger. 

Social media engagement rate has seen a 40-percent rise across all stages of the pandemic, with Instagram making an astounding cut and outshining its prominent counterparts. Among more than 1.15 billion active Instagram users, 90 percent follow at least one business account and half of the users are more interested in a brand when they see its advertisements on Instagram. Braze 2021 Global Customer Engagement Review pointed out that 60 percent of marketing decision-makers have invested time in customer engagement tools. 

“This year, we have experienced a slump in our sales turnover which reached a record low since 2011. Yet, we thrive to maintain business amidst turbulence,” Camex Jewellery, Hong Kong, spoke candidly. Alongside website enhancement, the diamond and gemstone trader has ventured into the affordable social media marketing on Instagram. 

Instagram is a highly visual and brand-driven platform where photo styling plays a crucial role in delivering brand personality. Proper lighting, a specific colour palette and themed props and backdrops are key elements to Camex’s vibrant Instagram presence. The brand creates the vision and feelings of the specific lifestyle modern women aspire to, rather than focusing solely on jewellery pieces. Its Instagram serves as a jewellery version of OOTD blog, the social media-coined abbreviation for “outfit of the day”, with jewellery layering image backgrounded by marble tables in black and white to evoke a sense of understated elegance and bright flower bouquets to make a pleasant colour contrast with gemstones. Given that Instagram hides captions beyond the first three lines, Camex tries to keep captions simple. “Feeling like a spring garden today busting with flowers and butterflies” and some emojis, for instance, is all it takes to inspire. 

 

Circumstances alter cases

To translate engagement into actual business outcomes, Continental Jewellery, diamond jewellery manufacturer and wholesaler in Hong Kong, permanently shifted its target customers from brick-and-mortar retailers to online retailers by launching digital storefronts. Spokesperson Celine Cheung said: “We took decisive actions to retool our services for online retailers following the continuous growth of online retail as a result of changes in customer spending habits.” Its upgraded website is filled with more jewellery in different styles and qualities, allowing clients to access product catalogues, request quotations and track packages. The company is able to shorten delivery-time thanks to the branch offices in UK and the United States. 

Despite the pandemic has put digital customer engagement and e-commerce at the forefront, Hong Kong-based emerald specialist Sunlight Gems on one hand is stunned by what digitalisation is able to achieve, on the other it believes that most of the clients still prefer to purchase after seeing the physical piece rather than viewing and buying online. “Subtle differences in colour and clarity can dramatically affect emerald’s value. It is not easy to find a way to present the true colour and clarity of an emerald, not even with the help of technology,” Sally Li, production and sales coordinator of Sunlight Gems explained. In the foreseeable future, online platform serves as one of the channels to reach audience worldwide, she added. 

Chase, which wholesales and retails diamond jewellery in the United States, Europe and Hong Kong, shared similar view: “Customers in Hong Kong prefer traditional shopping experience. Shopping in-store allows them to have personalised shopping experiences and try the items on before a purchase decision is made. However, given the current circumstances, they are willing to adopt to virtual try-on through mobile applications and other AR and VR tools.”

Apart from ecommerce opportunities, the Hong Kong-based company pointed out that the history of gifting diamonds as an expression of love and celebration of relationships from family to friendship has generated demands for diamond jewellery throughout the pandemic, which echoed the customer research conducted by De Beers that nearly 90 percent of the  survey-takers desired to express gratitude to loved ones through gifting and natural diamonds were seen as one of the options. 

“In hard times, customers want to send jewellery that carries positive energy and meaningful messages to their loved ones,” said Timax, another jeweller from Hong Kong.

Among gold, silver, fashion and fine jewellery, silver jewellery and gold fashion jewellery are major online sales generators as they are at a competitive price point, Wing Wo Hing Jewelry Group from Hong Kong explained. 

For Bangkok-based RCAN Jewellery and Chokas, fine jewellery has surprisingly done well in the thought-to-be dull season for the sector even though end-customers are more price-conscious and more concern about necessities over luxuries.      

 

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