This article first appeared in the JNA March/April 2025 issue.

A new era awaits the Hong Kong Jewellery & Jade Manufacturers Association (HKJJA) as Victor Chan, chairman of Continental Jewellery (Mfg) Ltd, becomes its 2024-2026 chairman. Chan, who served as HKJJA vice chairman for over 16 years, succeeded former chairman Louis Cheung who stays on as honorary chairman and director of the association.

Chan brings with him more than two decades of experience in the jewellery industry. In a talk with JNA, he shared his commitment to uphold the association’s mission while envisioning a future that nurtures strong industry collaborations.

JNA: As new HKJJA chairman, what is your vision for the association and the Hong Kong jewellery trade?

Victor Chan: I am honoured to take on this leadership position. Since 1965, HKJJA has played a pivotal role in promoting jewellery and jade exports in Hong Kong. As the Hong Kong jewellery industry grapples with global economic challenges, my primary focus is to reinforce our mission and seek new business opportunities for our members. We aim to enhance industry connections and open doors to new markets.

We have established strong ties with jewellery trade associations in Italy, Europe, the US, and the Association of Southeast Asian Nations (ASEAN). Our goal is to engage with international trade organisations not only within the jewellery sector, but across other industries as well. By doing so, we can broaden our business network and explore more opportunities globally.

JNA: The 2024-2026 HKJJA council has welcomed several young jewellers. How does this align with HKJJA's future direction?

Chan: With many second- or third-generation leaders taking the reins of their family businesses or embarking on their own ventures, involving the younger generation is a strategic move. Their fresh perspectives and entrepreneurial ideas are vital to driving industry innovation and sustainability. In 2019, we established the JJA Junior Committee to encourage the active participation of young industry leaders. This initiative helps in rejuvenating Hong Kong’s jewellery industry.

JNA: Could you share with us HKJJA’s major initiatives in 2025?

Chan: In celebration of HKJJA's 60th anniversary this year, we are organising a celebratory dinner during Jewellery & Gem WORLD Hong Kong in September. We are also excited to collaborate with the ASEAN Gems & Jewellery Association (AGJA) to co-organise the ASEAN Gems & Jewellery Leaders Conference in the latter half of 2025. This is expected to further elevate the global reputation of Hong Kong jewellers. Of course, we are also focused on facilitating our members’ participation in local and overseas jewellery exhibitions.

JNA: What are some emerging consumption trends in the market today?

Chan: With the surge in gold prices, there is growing interest in gold jewellery among Asian buyers as a value preservation option. Hong Kong jewellers are staying attuned to this trend by offering an array of lightweight, affordable luxury choices, including gold pieces adorned with gems and diamonds. Meanwhile, it is essential for Hong Kong jewellers to communicate their sustainability initiatives more effectively to meet rising consumer interest in this area.

JNA: Do you also foresee challenges ahead?

Chan: Ongoing global economic instability will continue to weigh on consumption sentiment. Mainland China’s economic downturn is inevitably affecting Hong Kong's overall economy. And it will take time for mainland China to recover. I anticipate persistent challenges for Hong Kong jewellers in the near term. However, I also have an optimistic outlook, given that Hong Kong jewellers are known for their adaptability and agility. In addition, thanks to Hong Kong’s international trade status, we are well positioned for recovery once the mainland market rebounds.

JNA: Please identify other bright spots for the Hong Kong jewellery trade in 2025.

Chan: Tapping into new markets could help mitigate existing difficulties. We must explore business opportunities in emerging markets, particularly Indonesia, the Philippines and Vietnam in Southeast Asia as well as Saudi Arabia in the Middle East. Their rapid economic development presents significant growth and bright prospects. Jewellers also have to enhance the design, quality and workmanship of their jewellery products.