This article first appeared in the JNA September/October 2025 issue.

Newly appointed Hong Kong Jewelry Manufacturers’ Association (HKJMA) Chairman Tommy Lee, executive director of Sun Sang Jewelry Co, is bringing more than two decades of industry experience to the 37-year-old organisation.

Lee took office on September 1, 2025, vowing to lead the association to even greater heights and to amplify the city’s status as a jewellery manufacturing hub during his two-year term. JNA sits down with Lee to talk about his plans and aspirations.

JNA: What are your key objectives as new HKJMA chairman?

Tommy Lee: HKJMA is a driving force for development and resilience during challenging times. I will focus on fostering unity within the trade and supporting members in growing their business through our services – organising Hong Kong pavilions in overseas jewellery shows and jewellery design competitions, nurturing young talents through J-Hub and providing the industry with the latest market insights, among others.

I am dedicated to advancing HKJMA’s mission of uplifting the Hong Kong jewellery industry’s global status and promoting local jewellery craftsmanship and innovative designs. Hong Kong is renowned for sophisticated, design-centric pieces. My goal is to strengthen our unique qualities and make Hong Kong top-of-mind for global buyers looking for quality jewellery.

JNA: How would you describe the current market?

Lee: Everyone seems more cautious in 2025 due to global economic and geopolitical uncertainties. Escalating gold prices are impacting both manufacturers and consumers while the US tariff issue is putting pressure on supply chains across Asia. When tariffs were initially announced early this year, there was palpable concern within the jewellery trade. But we are seeing some stability in recent months as both buyers and suppliers adapt to the situation. Even in the face of adversity, Hong Kong jewellery companies are trying their best to conduct business.

JNA: What changes have you observed in consumption patterns and buying behaviours?

Lee: There have been significant changes. Clients now prefer placing orders for smaller batches, and more frequent and efficient deliveries. This used to be seasonal. Manufacturers also face bigger expectations, with buyers seeking unique designs, prompt deliveries and exceptional after-sales services. The business has become more bespoke than ever before.

JNA: Are there any emerging trends in the jewellery market worth noting?

Lee: The increasing popularity of lab-grown diamonds is a trend to watch. These products are gaining steam overseas, and their prevalence is growing at global trade shows. It is positive to see the industry flourishing with a variety of categories to meet diverse consumer needs. However, jewellers must be transparent in disclosing product information to ensure that consumers fully understand what they are buying.

On the other hand, gold jewellery will remain a staple trend over the coming years, particularly in regions where gold jewellery holds cultural significance such as the Middle East. With prices on the rise, some consumers feel compelled to buy now, in anticipation of even higher costs in the future.

JNA: What opportunities lie ahead for Hong Kong jewellers?

Lee: Despite lingering uncertainties, Hong Kong jewellery companies continue to seek new strategies. Creating demand among the younger demographic can be challenging but could also prove promising for business growth. Young people in Hong Kong spend their money on multiple products and services, from electronics to travel. Jewellery is not a top priority for them; they mainly purchase it for special occasions. It is crucial to help them recognise the significance and value of jewellery.

JNA: Please share with us your outlook for 2025 and beyond.

Lee: With an unresolved US tariff issue and ongoing geopolitical risks, luxury markets are under pressure. Hong Kong manufacturers are banking on the city's strength as a jewellery trading hub, particularly its free-port status and reliable legal, banking and logistics systems. Our approach will remain deliberately cautious. The true competitive advantage lies in our product quality, design innovation, exquisite craftsmanship and strong client relationships. What matters most is that your business remains irreplaceable to your clients, enabling you to weather any obstacle.