JAN/FEB 2022 ISSUE #431 US$15 Jewellery trade: Resetting strategies post-crisis 珠宝贸易：危机后的复甦策略 Bright prospects for diamonds 钻石行业的绚丽未来 Design and colour directions in 2022 2022年的设计及色彩趋势
CONTENTS Issue #431 | JAN/FEB 2022 8 MARKET INDICATORS 市场指标 8 Christie’s New York achieves US$55M 佳士得纽约实现5,500万美元 25 STRATEGY 企业策略 25 B2B website for Australian South Sea pearls 澳大利亚南洋珠B2B网站面世 10 FOCUS 焦点 10 Jewellery trade: Resetting strategies post-crisis 珠宝贸易：危机后的复甦策略 16 Bright prospects for diamonds 钻石行业的绚丽未来
On the Cover 封面 Velaa Star ring in 18-karat orange apricot gold with diamond by Annamaria Cammilli Annamaria Cammilli的18克拉橙杏色黄金镶钻Velaa Star戒指 Digital version 电子版： jewellerynet.com/en-us/custom/publications 26 PERSPECTIVE 精辟视野 26 The road ahead for Hong Kong 香港珠宝业的未来发展 30 DESIGN 设计 30 Jewellery of hope: Trends and directions in 2022 and beyond 盛载希望的珠宝: 2022年及其后的趋势与方向 36 The masterful creations of Annamaria Cammilli 大师级杰作 39 Pantone’s colour of 2022 sparks the imagination 彩通2022年度代表色激发无穷想像 44 MARKET INTELLIGENCE 市场情报 44 Emerging coloured gem favourites 彩色宝石新宠儿 48 Supply and demand at JGT Dubai 迪拜JGT呈献非凡采购体验 52 KGK Group chairman named JWA Lifetime Achievement awardee KGK集团主席获颁发JWA终身成就奖 54 Bidding on China's jewellery auction market 中国珠宝拍卖市场的竞标热潮 Sorbis / Shutterstock.com
Every care has been taken to ensure the accuracy of the information in JNA. However, the publication of such information is at the sole discretion of the publisher. The publisher and the editorial team shall not be held responsible or in any way held liable for any errors, omissions or inaccuracies in this publication, or for any consequences arising therefrom. The contents of this publication are protected by copyright and cannot be reproduced, photocopied, transmitted or posted in any form without the prior written consent of the publisher. 本公司已尽力确保《JNA亚洲珠宝》所刊登的内容正确无误。如因错漏而引致任何损失，本公司概不负责。本公司保留刊登有关资料的一切权利。版权所有，如未获得本公司事先之书面允许，不 得以任何方式翻印、仿制或转载本刊物任何部份之文字或图片。 Printed by Asia One Printing Limited,13/F, Asia One Tower, 8 Fung Yip Street, Chai Wan, Hong Kong. 印刷商: 宏亚印务有限公司香港柴湾丰业街8号宏亚大厦13楼 Associate Publisher & Editor-in-Chief Olivia Quiniquini 副出版人及主编 程爱莉 EDITORIAL 编辑部 Assistant Editor Bernardette Sto. Domingo 副编辑 杜明高 Senior Researcher William Yick 高級資料搜集主任 易康耀 ADVERTISING 广告部 Assistant Director Christine Sinn 区域营业总监 冼蕙珠 Business Development Manager Ken Chan 业务拓展经理 陈赞健 MARKETING 市場推广部 Senior Marketing & Communications Manager Ronny Pang 高级市场及传讯经理 彭秋影 Senior Marketing & Communications Executive Grace Tam 高级市场及传讯主任 谭淑恩 Marketing & Communications Executive Angela Lau 市场及传讯主任 刘雅媛 PRODUCTION 制作部 Production Manager Jennifer So 制作部经理 苏丽娟 Senior Designer Eva Kam 高级设计师 甘铭灵 Senior Exhibitions Administrative Executive Natalie Chan 珠宝展览部高级行政主任 陈晓盈 ADVERTISING REPRESENTATIVES 广告代理 China 中国: 广州代表处胡淑晶 | Tel 电话: (86) 20 8666 0158 Email 电邮: [email protected] Germany 德国: Liz Dobelmann | Tel 电话: (49) 721 384 1881 Email 电邮: [email protected] Italy 意大利: Mauro Arati | Tel 电话: (39) 02048517853 Email 电邮: [email protected] Japan 日本: Nobuaki Nito | Tel 电话: (81) 3 52961020 Email 电邮: [email protected] Taiwan 台湾: Rita Hung | Tel 电话: (886) 2 2738 3898 Email 电邮: [email protected] Thailand 泰国: Anna Vichvech | Tel 电话: (66) 2 036 0500 Email 电邮: [email protected] US 美国: Bonnie Chan | Tel 电话: (1) 347 906 4693 Email 电邮: [email protected] President & CEO – Asia Margaret Ma Connolly 亚洲主席及行政总裁 马颖 Senior Vice President – Asia David Bondi 亚洲高级副总裁 庞大为 Director of Jewellery Fairs Celine Lau 珠宝展览部总监 刘小雯 Published by Informa Markets 出版 1701-1705, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong 香港湾仔港湾道26号华润大厦1701-1705室 Email 电邮: [email protected] JewelleryNet.com
MARKET INDICATORS 8 | JNA Jan/Feb 2022 1亿美元 US$55M 5,500万美元 70.19-carat fancy vivid yellow diamond pendant 70.19 克拉艳彩黄钻吊坠 Total sales generated by Christie’s New York in December 2021 from its Magnificent Jewels auction. The top-performing lot was a fancy vivid yellow diamond pendant of 70.19 carats, which sold for US$2.85 million. Other notable results were achieved for a rare fancy vivid orangey-pink diamond ring of 5.38 carats (US$2.67 million) and a fancy dark gray-blue diamond ring of 8.74 carats (US$2.61 million). 这是2021年12月佳士得纽约瑰丽珠宝拍卖会的成交总额。表现最出色的拍品是一 颗70.19克拉艳彩黄钻吊坠，以285万美元售出。其他引人注目的成交珍品，还有一枚 5.38克拉的稀有艳彩橙粉红钻戒指(267万美元)和一枚8.74克拉的暗彩灰蓝钻戒指 (261万美元)。 Total carats sold by Petra Diamonds during its recent tender, which generated US$128.3 million. The sale included a 295.8-carat white diamond from the Cullinan mine, which sold for US$13.9 million to Stargems DMCC. Petra said strong sales results were due to robust health of the diamond pipeline. “The rough market is currently being driven by strong sales of polished diamonds and increased demand from the manufacturing centres, which in turn reflects positive endconsumer markets,” stated Petra Diamonds Chief Executive Richard Duffy. Petra Diamonds在最近的招标会中售出的钻石总重量，销售额为1.283亿美元。焦点拍品包括一颗来自库里南矿的295.8克拉白钻，以 1,390万美元售予Stargems DMCC。Petra Diamonds表示，强劲的销售成绩可归功于钻石管道的稳健发展。首席执行官Richard Duffy表 示：“目前毛坯钻石市场的推动力，来自已打磨钻石的强劲销售和制造中心需求增加，亦反映了终端消费者市场的正面环境。” 885,136克拉 The Israel diamond complex in Ramat Gan 以色列鑽石交易所建築群坐落於拉馬干市 Improved risk rating given to Israel’s diamond industry from 3.7 previously. The upgrade from high to medium was largely due to various measures implemented by diamond businesses to improve transparency and compliance with international financial guidelines, the Israel Diamond Exchange said. 以色列钻石行业的风险评级下调至2.7，比早前的3.7有所改善。以色列钻石交易所(IDE)表示，风险 评级由高修订为中，主要原因是行业采取各种措施提高透明度，以及进一步遵守国际金融业指引。 2.7
市场指标 JNA Jan/Feb 2022 | 9 20.81% Year-on-year decline in India’s polished diamond exports in November 2021. By comparison, the country recorded a 31.11 per cent growth in polished diamond exports in October 2021. 显示2021年11月的印度已打磨钻石出口额，比去年同期下降的百份比。相比 之下，该国2021年10月的已打磨钻石出口额则录得31.11%的增长。 ONLINE CHATTER 新闻快讯 Recovery seen in silver jewellery demand 银饰需求呈现复苏 Chow Tai Fook H1 profit up on solid demand 强劲需求令周大福上半年利润上升 China diamond price list and index unveiled 中国钻石价格体系及价格指数出炉 Our digital platform provides additional content for an even more comprehensive industry perspective. Here are some of JNA’s online updates. Visit www. jewellerynet.com for the full story and more trade news. Demand for silver jewellery is expected to increase by end-2021 as business in key international markets continue to improve post-lockdown, according to the latest data from the Silver Institute. Hong Kong jeweller Chow Tai Fook Jewellery Group said profits rose in the first half of its fiscal year ending September 30, 2021 on the back of resilient demand for gold jewellery alongside rapid business expansion in mainland China. Three major organisations recently launched a local diamond price list and price index specifically for the mainland Chinese market aimed at fostering transparency in the trade and protecting consumer rights. 《JNA亚洲珠宝》网上平台追踪全球珠宝业最新资讯及重要消息，为您提供全面视角。以下新闻快讯节录自网站 信息，请即到访www.jewellerynet.com，浏览完整新闻内容，实时掌控全球行业最新动态。 世界白银协会 (Silver Institute) 透露，随着主要国际市场的业务在疫情解封后持续改善，预计到2021年底，银饰需求将会增加。 周大福珠宝集团表示，由于金饰需求展现韧性，伴随中国内地业务快速扩张，截至2021年9月30日财政年度的首六个月，利润有 向上增长的趋势。 三大行业机构联合推出钻石价格体系及价格指数，专为中国内地市场而设，旨在促进业内透明度和保护消费者权益。 Annual auction revenues achieved by Gemfields from its November and December emerald and ruby sale. Adrian Banks, Gemfields’ managing director of Product & Sales, commented, “The strength of the results we have seen for both emeralds and rubies means that Gemfields has achieved a new record for annual gemstone auction revenues – a very pleasing result for 2021.” Gemfields从11月和12月的祖母绿和红宝石拍卖中获得的年度 拍卖收入。Gemfields产品与销售部执行总监Adrian Banks指 出：“祖母绿和红宝石的拍卖成绩十分理想，意味着Gemfields 的年度宝石拍卖收入已刷新纪录——2021年的佳绩令人相当 满意。” US$239M 2.39亿美元
FOCUS 10 | JNA Jan/Feb 2022 With businesses around the world gearing up for a ‘great reboot’ beginning 2022, the jewellery and gemstone industry is already seeing steady growth in demand supported by sustained economic recovery in the key markets of the US and China. According to industry stakeholders, demand is stronger than ever as consumers find new meaning in owning a piece of jewellery, whether to celebrate life events or as a form of self-reward. Retailers are also back on track. According to US-based National Retail Federation (NRF), retail sales continued to grow in the US in November 2021 – up 14 per cent year on year – signalling consumers’ willingness to spend. As of press time, the NRF said the 2021 holiday season could post record consumer spending amid inflation, supply chain disruptions and Covid-19. Jewellery demand in China is also generally stable, with the government reporting steady increases. The latest data showed a 5.7 per cent year-on-year rise in November sales of gold, silver and jewellery. Retail sales are likewise on the rebound in Hong Kong. The census department said sales of jewellery and other luxury items reached HK$3.52 billion (US$452 million) in October 2021, up 23.1 per cent from 2020 albeit slightly lower than the HK$3.91 billion (US$501 million) recorded in October 2018. This retail optimism is trickling down on all aspects of the supply chain – rough and polished diamond sales are on the upswing as manufacturers fulfilled extra orders for the holiday season. 珠宝贸易：危机后的复甦策略 Resetting strategies post-crisis As the world treads gradually towards normalcy, jewellers and gemstone traders are constantly innovating and discovering new ways to do business. Prospects also appear bright moving forward, thanks to the industry’s resilient and progressive nature. 随着世界逐渐回复正常，珠宝商和宝石贸易商不断开发新的营商方式。 业界凭藉其弹性和进取精神，前景愈见光明。 | Bernardette Sto. Domingo 杜明高 | JEWELLERY TRADE:
焦点 JNA Jan/Feb 2022 | 11 Local consumption in Hong Kong has grown from strength to strength. Given this trend, we look forward to the gradual reopening of the Hong Kong-China borders to spur business. – Lawrence Ma, founder and president of the Diamond Federation of Hong Kong, China According to companies interviewed by JNA, the industry has once again proven its resilience in the face of a crisis. Technology alongside jewellers’ willingness to innovate and rise to the challenge played a critical role in sustaining business operations while on lockdown. Meaningful jewellery Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB), said two important factors have contributed to the industry’s recovery – use of technology and other non-traditional means to do business as well as consumers’ renewed fascination for and appreciation of jewellery. Major diamantaires Alrosa and De Beers both reported steady growth in diamond sales, which they have attributed to positive consumer sentiment and sturdy demand for finished diamond jewellery. “Demand for diamonds is significantly greater now than it was in 2019,” noted Dvash. “Even though diamond manufacturing facilities in Surat and elsewhere are working at full capacity, it is not possible to fulfil the market demand.” At the height of the pandemic, companies relied heavily on different kinds of technology to sustain operations, including selling diamonds through the Internet using videos and photos. While the diamond industry is no stranger to difficulties, it has benefitted tremendously from the unprecedented use of technology this time around. And this trend is expected to continue moving forward. Celine Assimon, CEO of De Beers Jewellers and De Beers Forevermark, supported this sentiment, adding that the jewellers have had to up the technology ante to stay relevant and to effectively engage with customers throughout the pandemic. “We fast-forwarded our omnichannel transformation and turned to online to reach our clients,” she revealed. “Store closures led to virtual appointments, travel restrictions to a focus on local clients while physical events moved online.” De Beers Jewellers and De Beers Forevermark trained their sights on domestic clients in the US, China and Europe in light of travel restrictions. Interestingly, the pandemic has inspired resilience and a renewed sense of hope in the consumer albeit on a slightly different level – people are celebrating moments, experiences and relationships now more than ever. According to Assimon, the diamond jewellery market remains dynamic and the appetite for jewellery remains strong. “Diamond jewellery is about marking special moments. People still want to get married and celebrate key moments in their life. They are choosing what feels safe and meaningful now and diamond jewellery holds both sentimental importance and inherent investment value,” she added. She likewise observed a dramatic shift in consumer attitude towards sustainability especially during the pandemic. With more discerning and educated buyers,
FOCUS 12 | JNA Jan/Feb 2022 brands are now expected to provide information on how they respond to key environmental and social issues as part of the shopping journey, particularly when it comes to luxury products. Resilience and flexibility Hong Kong’s experience during the coronavirus crisis is also out of the ordinary. As a global jewellery and gemstone trading hub, the city immensely depends on international travel to fuel the retail sector and provide a platform for jewellery and gemstone traders to transact business through trade shows. With travel disruptions, Hong Kong has suffered tremendously from the lack of overseas arrivals. Government data revealed that visitor numbers in 2020 reached 3.57 million, down by 93.6 per cent from 55.91 million in 2019 and by 94.52 per cent from 65.15 million in 2018. In October 2021, visitor arrivals reached 9,353, up 19.6 per cent from October 2020. From January to October 2021, arrivals totalled 72,458, which is a 98 per cent drop from 2020 figures. According to Lawrence Ma, founder and president of the Diamond Federation of Hong Kong, China (DFHK) and CEO of the Lee Heng Diamond Group, Chinese visitors used to account for 60 per cent to 65 per cent of domestic retail consumption in Hong Kong. The figure has since fallen to around 1 per cent to 2 per cent. Local Hong Kong consumersmeanwhile are gradually resuming social activities, given the relatively stable Covid-19 situation in the city. More people are venturing out, eating at restaurants and shopping for consumer goods, jewellery included. Covid-19 vaccination records have also improved. The main deterrent to continued growth however is Hong Kong’s strict quarantine policy, which is discouraging overseas arrivals in the city, explained Ma. “Jewellery shows last year were more local-oriented. Because of the 21-day quarantine rule in Hong Kong, no one would come here to be locked up for three weeks before they can start working,” he noted. “Having said that, the local economy seems to be faring much better and domestic consumption has been doing well compared to 2020.” Business is about 15 to 25 per cent better compared to 2020 but there is still room for improvement. Amid the Covid-19 crisis, jewellery companies also embarked on an adaptation and readjustment strategy to mitigate revenue losses. Marketing and product development were tailored to local consumers while technology became an indispensable tool in reaching out to clients. Ken Lo, director of Eternity Manufacturing Ltd, said his company had experienced a considerable increase in business from the second quarter of 2021 onwards. Business came mainly from the US, with orders consistently coming in as jewellers stocked up for the holiday season. By the third quarter of the year, even the European market was starting to move again. “Several customers who have not been active in the past five to six years got in touch with us since they needed to replenish their inventories,” remarked Lo, who is also the former chairman of the Hong Kong Jewellery & Jade Manufacturers Association. “It may not reflect the overall situation but that is our experience.” HK$26.56B (US$3.4B) 265.6億港元 (34億美元) Hong Kong’s jewellery exports in October 2021, up 50.2 per cent from 2020 2021年10月香港珠宝的出口额，较2020年增长50.2%
焦点 JNA Jan/Feb 2022 | 13 The company official attributed this market optimism to some countries learning to live with Covid-19. Echoing the need for traders to once again engage in one-on-one meetings, he said the resumption of international travel is key to actual and lasting recovery. Appetite for pearls Yoshihiro Shimizu, chairman of the Japan Pearl Exporters' Association (JPEA) and chairman of Kobebased Hosei Co Ltd, agreed. The pearl industry is heavily reliant on international jewellery fairs to touch base with clients and meet potential customers. Japan also counts on tourist spending to support the country’s loose pearls and pearl jewellery sector. At the moment, the country is selling pearls remotely through online channels, mostly to Chinese buyers. Japanese Akoya pearls of 6mm to 8mm in diameter are highly favoured in the US market. Golden and white South Sea pearls of 9mm to 11mm are also moving fast. “Prices remain solid especially for round, near-round and good-quality pearls,” explained Shimizu. “We see strong demand from China and the US. Other promising markets are Japan, of course, and the Far East.” Tighter supply however is hindering growth in the Tahitian pearl sector. According to the JPEA official, the export of Tahitian pearls amounted to around US$60 million to US$70 million about three years ago but the figure has since dropped to US$15 million in 2020. “Chinese technicians could not go and visit Tahiti to graft the pearls. Buyers meanwhile are not allowed to visit. There is very limited strategy to get Tahitian pearls out into the open market,” said Shimizu. Dazzling and colourful Whiledigital transactionsworkedwell for other sectors in the jewellery and gemstone industry, doing business online is still quite a challenge for the coloured gemstone business, revealed Clement Sabbagh, president of the International Colored Gemstone Association (ICA) and director of Ben Sabbagh Bros. It was deemed the only feasible way to conduct business at the height of the pandemic – going digital meant utilising company websites, social media and other online platforms to market products and stay in touch with clients. Consumers with discretionary funds – faced with limited opportunities to spend money on luxury trips, fine dining or going to events – turned to online shopping, specifically for goods that appreciate in value such as gemstones and jewellery. The shopping journey however remains experiential, according to Sabbagh. “Trading online is easy for harmonised products such as diamonds,” he explained. “This is not the reality for coloured gems since each stone is unique and not easily replenished. As such, digital will not replace in-person transactions.” Online tools however complement face-to-face meetings as these are valuable for networking, brand storytelling and consumer education. 2022 and beyond WFDB’s Dvash is maintaining an upbeat outlook for 2022, adding that robust market demand for diamond jewellery is likely to continue, with China and the US driving the growth. An absence of pandemic-related government funds however could impact full economic recovery. The US, for instance, is winding down its massive stimulus programme in response to rising inflation. It also announced plans to raise interest rates three times throughout the year. As of press time, the US inflation rate hit 6.8 per cent in 2021, its highest level in almost 40 years. For Ma of DFHK, economic growth and inflation could bode well for the jewellery sector since it could fuel demand for jewellery. “Inflation indirectly affects our industry because people want to buy goods before prices go up. It seems that we have been gearing up for a better coming six to nine months,” he added. Assimon of De Beers Jewellers and De Beers Forevermark is also bullish about prospects this year. China will remain a key market for diamond jewellers alongside the US and Hong Kong. De Beers Jewellers is introducing a new high jewellery collection in January and adding new diamond engagement ring styles to its expansive bridal jewellery selection. It is also revitalising other well-loved collections with new designs. In the coloured gemstone realm, Sabbagh said various market trends that sprouted during the pandemic are here to stay hence companies are continually resetting strategies as they navigate the post-pandemic world. Ben Sabbagh Bros is planning to participate in international trade shows this year and will start visiting clients again, supplemented by online meetings and email orders, he added.
FOCUS 14 | JNA Jan/Feb 2022 全球企业正为2022年初的恢复做准备。珠宝和宝石业受惠于美 国和中国等主要市场复甦，需求已在稳定增长。根据行业持份 者的说法，现今消费者发现拥有珠宝的新意义，无论用作庆祝 或是自我稿赏，珠宝需求之高前所未见。 零售也重回正轨。根据美国全国零售联合会(NRF)的数 据，2021年11月美国的零售额同比增长14%，反映消费者的购 买意欲。截至发稿时，NRF表示，在通货膨胀、供应链中断和新冠 疫情下，2021年的假期消费额可能会创下新高。中国内地的珠 宝需求大致上稳定。政府数据显示，需求稳步增长，11月黄金、 白银和珠宝的销售额同比增长5.7%。 同样，香港的零售销售也出现反弹。政府统计处表示，2021 年10月珠宝和其他奢侈品的销售额达35.2亿港元(4.52亿美元)， 较2020年增长23.1%，但略低于2018年10月的39.1亿港元(5.01 亿美 这元 种 )。 零售乐观情绪，正逐渐渗透至供应链的各个范畴——因 制造商在假期完成了额外的订单，毛坯钻石和已打磨钻石的销 售额 接正 受在《 上 JN 升 A 。亚洲珠宝》采访的企业表示，行业面临危机时再 次发挥其弹性。珠宝商仰赖技术、勇于创新和迎接挑战的态度， 在封关期间维持业务营运。 别具意义的珠宝 世界钻石交易所联合会(WFDB)主席Yoram Dvash表示，有 两个重要因素促成了行业的复甦——使用科技和以非传统方式 开展业务，加上消费者重燃对珠宝的兴趣。 主要钻石商Alrosa和De Beers的钻石销售额均稳步增长， 他们将此归因于消费者的正面情绪和对成品钻石首饰的强劲 需求“ 。现时的钻石需求明显高于2019年，”Dvash指出。“即使印 度苏拉特(Surat)和其他地方的钻石制造设施已全面投入生产， 但仍无法满足需求。” 在疫情最严重的时候，企业依赖不同类型的技术来维持营 运，包括使用视频和图片在网上销售钻石。虽然钻石行业对应 付困难并不陌生，但此次行业在技术应用上的深入程度是前所 未有的，使业界受益匪浅，预计未来此趋势将继续。 De Beers Jewelers和De Beers Forevermark的首席执行官 Celine Assimon认同此观点，并补充说，珠宝商必须提高技术， 以在疫情期间回应市场，并有效地与客户互动。 “我们加快了全渠道转型，并转到线上接触客户，”她透 露。“实体店关闭、实体活动移师网上进行，带来了虚拟会议；而 旅游限制使我们将专注力集中在本地客户上。” 鉴于旅游限制，De Beers Jewellers和De Beers Forevermark 将目光投向美国、中国和欧洲的国内客户。 有趣的是，疫情激发了消费者的韧性和新的希望，尽管程 度略有不同——人们现在比以往更频密地庆祝特别的时刻、经 历和关系。 据Assimon称，钻石珠宝市场充满活力，人们对珠宝的需求 依然强劲。“钻石首饰是为了纪念特殊的时刻。人们仍然希望 结婚，并庆祝生命中的关键时刻。他们此刻选择让他们感到安 全和有意义的东西，而钻石首饰的情感意义及内在投资价值兼 备，”她她 还补 观充 察道 到。 消费者对可持续发展的态度发生了巨大转变， 尤其是在疫情期间。随着买家的目光变得更加敏锐及教育水平 提高，品牌需要告诉消费者他们如何应对关键的环境和社会问 题；作为购物旅程的一部分，对奢侈品而言尤其重要。
焦点 JNA Jan/Feb 2022 | 15 弹性和灵活性 新冠疫情危机也为香港带来不一样的经历。香港作为全球 珠宝和宝石贸易中心，十分依赖国际旅游推动零售业，并让珠 宝和宝石贸易商通过贸易展览开展业务。 在旅游限制下，外地旅客消失，使香港损失惨重。政府数据 显示，2020年旅客人数仅为357万人次，比2019年的5,591万人 次下降93.6%，比2018年的6,515万人次下滑94.52%。 2021年10月，入境旅客达到9,353人次，比2020年10月增长 19.6%。从2021年1月至10月，入境旅客总数为72,458人次，比 2020 据 年 香 下 港 降 钻 98 石 % 总 。 会(DFHK)创办人兼会长、利兴钻石集团首席 执行官马墉宜指，内地旅客过去曾占香港本地零售消费60%至 65%。该比率已降至1%至2%左右。 鉴于香港的疫情控制得相对稳定，本地消费者正在逐渐恢 复社交活动。外出用膳和购物，包括购买珠宝的人越来越多。疫 苗接种率也有改善。 马墉宜解释，香港严格的检疫政策阻碍了海外旅客访港，是 影响市场持续增长的主因。“去年的珠宝展更注重本土市场。由 于香港实行21天隔离措施，没有人愿意开始工作前先被关上三 周，”他说。“话虽如此，与2020年相比，本地经济似乎已大幅改 善，消费额也有增长。”与2020年比较，业务增幅约15%至25%， 但仍 在有 疫改 情善 期空 间间 ，。珠宝公司采取适应措施和调整策略，以减轻收 入损失。营销和产品开发都是按当地消费者的需要量身定做， 在接触客户上，科技更变得不可或缺。 永生制造厂有限公司董事卢仲辉表示，他们的业务从2021 年第二季度开始大幅增长。销售主要来自美国，随着珠宝商为 假日季节备货，他们不断接到订单。到了今年第三季度，甚至欧 洲市场也开始有动静。 曾任香港珠宝玉石厂商会主席的卢仲辉表示：“几位过去 五﹑六年不甚活跃的客户找我们补充库存。这不一定能反映整 体情况，但却是我们的亲身经验。” 卢仲辉对市场感到乐观是因为一些国家正在学习与新冠疫 情共存。贸易商能当面洽谈生意至为重要，因此恢复国际旅游 是实质和持久复甦的关键。 珍珠需求 日本珍珠出口商协会(JPEA)主席兼总部设于神户的Hosei Co Ltd主席Yoshihiro Shimizu表示同意。珍珠行业依赖国际珠 宝展来接触新旧客户，与此同时，日本的散珠和珍珠首饰业同 样依 目靠 前游 ，客 日 消 本 费 正 。 在通过网上渠道销售珍珠，主要售予中国买 家。直径6毫米至8毫米的日本海水珠在美国市场也备受青睐。9 毫米至11毫米的金色及白色南洋珠也很受欢迎。 Shimizu解释“: 珍珠价格保持稳定，尤其是圆形、近圆形和 优质珍珠。我们看到来自中国和美国的强劲需求。其他具潜力 的市场包括日本，当然还有远东。”然而，供应紧张阻碍了大溪 地珍珠业的增长。据JPEA官员称，大约三年前，大溪地珠的出 口额约为6,000万至7,000万美元，但其后数字在2020年降至 1,500万美元。“中国技术人员无法前往大溪地嫁接珍珠，当局 也不允许买家参观，将大溪地珍珠推向公开市场的策略非常有 限，”Shimizu说。 五光十色 国际有色宝石协会(ICA)主席兼Ben Sabbagh Bros董事 Clement Sabbagh透露，虽然网上交易适用于珠宝和宝石行业， 但线上业务对有色宝石来说仍然是一个相当大的挑战。在疫情 期间，线上销售成为唯一的可行方案——企业要利用公司网站、 社交媒体和其他线上平台来营销产品，并与客户保持联系。 拥有可支配资金的消费者——在豪华旅游、高端餐饮或参加 活动等消费的机会有限——便转而在网上购物，特别是购买宝 石和珠宝等具升值潜力的商品。 不过，根据Sabbagh的说法，体验仍然是购物的重点。“对于 钻石等一式一样的产品，线上交易很容易，”他解释说。“但对于 有色宝石而言，情况便不一样，因为每颗宝石都是独一无二，而 且难以补充存货。因此，网上销售不会取代面对面交易。” 然而，线上工具是面对面会议的辅助方案，对于建立人际网 络、品牌故事和消费者教育都很有价值。 展望2022年及以后 WFDB的Dvash对2022年的前景保持乐观，并补充说，在中 国和美国的推动下，对钻石首饰的强劲需求将持续下去。不过， 缺乏与疫情相关的政府资金可能会影响经济全面复甦。例如， 美国正在缩减其大规模刺激经济计划以应对通胀上升，并宣布 全年加息三次。截至发稿时，美国通胀率在2021年达到6.8%， 是近40年来的最高水平。 对于DFHK的马墉宜来说，经济增长和通胀对珠宝行业来说 可能是个好兆头，因为这可能会刺激需求。“通货膨胀间接影响 我们的行业，因为人们希望在价格上涨之前购买商品。我们似 乎正为未来六至九个月的环境变好作准备，”他补充道。 De Beers Jewellers和De Beers Forevermark的Assimon也 看好今年的前景。除了美国和香港地区之外，中国仍然是钻石 珠宝商的主要市场。De Beers Jewellers将于1月推出全新高级 珠宝系列，并为其婚庆珠宝系列增添新的订婚戒指款式。他们 亦会在其他广受欢迎的系列中加入新设计。在有色宝石行业 中，Sabbagh表示，在疫情期间萌芽的各种市场趋势将会延续， 因此企业在疫情后仍会不断调整战略。他补充说，Ben Sabbagh Bros计划今年参加国际贸易展，再次开始拜访客户，并辅以线 上会议和电邮订单开拓业务。 3% to 4% 3%至4% Expected growth of the fine jewellery industry by 2025, according to McKinsey & Co 麦肯锡预测2025年高级珠宝行业的增长
FOCUS 16 | JNA Jan/Feb 2022 The diamond trade, which was hampered by supply shortages due to mine and factory closures at the height of the Covid-19 pandemic as well as logistical and operational issues stemming from lockdown-related disruptions, is getting back on track, according to industry stakeholders. By the third quarter of 2021, key diamond centres had reached, if not surpassed, pre-pandemic levels, thanks largely to pent-up demand unleashed by the resumption of economic activity in most markets around the world. Attesting to the rise in global demand for diamonds, net polished imports through China’s Shanghai Diamond Exchange (SDE) came up to US$2.75 billion from January to November 2021, already exceeding the record US$2.74 billion recorded in 2018. This represented a 123.2 per cent increase over the same period in 2020 and a 59.6 per cent hike from 2019. Total diamond transactions at SDE during the said period hit US$6.66 billion, up 102.8 per cent from 2020 and 69.9 per cent from 2019. Fresh markets In the first nine months of 2021, Israel’s polished diamond exports amounted to US$2.57 billion, a 49 per cent increase over the same period in 2020, data from the country’s Ministry of Economy and Industry showed. Net diamond imports of rough diamonds registered a 137 per cent year-on-year increase to US$1.47 billion during the period in question. Meanwhile, net rough diamond exports reached US$1.34 billion, a 160 per cent increase year on year. 钻石行业的绚丽未来 Bright prospects for diamonds Diamond manufacturing centres are seeing a substantial surge in global demand for diamonds, on the back of pent-up luxury spend, controlled production, digital initiatives and modern narratives. 对于大部分生产商和钻石生产中心而言，全球各地的钻石需求正在上升， 究其原因，是此前被压抑的奢侈品消费需求得以释放丶产量控制丶 数码化举措和品牌采取现代敍事手法进行推广所致。 | Olivia Quiniquini 程爱莉 |
焦点 JNA Jan/Feb 2022 | 17 We have seen a sharp increase in demand across categories. Noncertified diamonds particularly are showing tremendous strength due to robust demand, higher input cost and depleting midstream inventories. Quality-wise, SI to I3 stones are moving extremely well. – Gautam Gopani, director, Kiran Exports (HK) Ltd Israel Diamond Institute (IDI) Managing Director Aviel Elia noted that 2020 had started poorly due to the pandemic but business improved towards the end of the year. The Israeli diamond industry recovered fully in 2021 and even surpassed 2019 levels for some import and export categories. Solid demand from the US has boosted Israel’s diamond trade, compensating for the decline in business from its other major market Hong Kong due to pandemicrelated travel restrictions, he added. The Abraham Accords that normalised relations between Israel and Bahrain, the UAE, Sudan and Morocco also helped bolster Israel’s diamond trade. The Israel Diamond Exchange (IDE) and the Dubai Multi Commodities Centre have opened offices in each other’s facilities. “Since the signing of the Abraham Accords, the diamond trade between Israel and Dubai has grown tremendously. Through the Dubai Diamond Exchange, Israel’s diamond industry now has access to markets in other Gulf countries,” Elia remarked. In September 2021, Israeli exports of rough diamonds to the UAE came up to US$21.3 million, around 12 per cent of Israel's total rough diamond exports that month. At the same time, Israel imported US$19.2 million worth of rough diamonds from the UAE, about 22.5 per cent of Israel’s total rough diamonds imports in September. “Additional opportunities are opening up with Gulf countries. Qatar has reached a commercial agreement with Israel and is also now a member of the Kimberley Process. We understand it plans to open a diamond exchange, which will create fresh opportunities for us. Bahrain is also interested in trade relations with IDE,” IDI's Elia disclosed. Production conditions India’s diamond industry also saw growth in 2021. From April to September, cut and polished diamond exports went up 125 per cent to US$12.37 billion, compared to US$5.5 billion in the corresponding period in 2020. Colin Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), expects the full-year figure to outstrip pre-pandemic results. “India has seen steady demand for polished diamonds from the US and China from Q4 2020 through the whole of 2021. All early signs indicate a healthy growth in holiday jewellery sales in the US, and the entire diamond pipeline from mining to retail are doing well. There is however some concern about pandemic-related supply chain disruptions, inflationary pressure and challenges like the new Omicron variant,” Shah commented. After a shutdown in March 2020 followed by limited operations to comply with Covid safety protocols. India’s Aviel Elia, managing director of Israel Diamond Institute 以色列钻石行业协会执行总监Aviel Elia 125% Year-on-year growth in India’s cut and polished diamond exports from April to September 2021, according to the Gem & Jewellery Export Promotion Council 根据印度宝石和珠宝出口促进委员会数字显示，2021年4月至 9月印度已切割及打磨钻石出口额的同比增长率为125%
FOCUS 18 | JNA Jan/Feb 2022 diamond factories are now fully functional, enabling the country to fulfill demand from its major markets of the US, China and Hong Kong, he noted. “Beside the need to have a strong digital presence, the pandemic taught us the importance of market diversification and to not rely too much on a single export destination,” revealed Shah. “Keeping communication channels open among trade members is another important takeaway.” In the last 18 months, GJEPC organised several virtual trading events including Buyer-Seller Meets on diamond jewellery and loose diamonds to enable manufacturers to transact business during the pandemic. It also tapped new markets through its virtual India Global Connect initiative for manufacturers to discuss market trends and explore business opportunities with retailers from other countries. GJEPC has held India Global Connect meets with the UK, Colombia, Switzerland, Angola, Oman, Singapore, Morocco, Saudi Arabia, the UAE, Hong Kong, Qatar and Thailand. To uplift the diamond sector, GJEPC has been appealing to the Indian government to implement a turnover/presumptive tax regime for Special Notified Zones; rationalise the GST rate on certification and grading services; abolish the 2 per cent equalisation levy to purchase rough diamonds; and reduce the import duty on cut and polished diamonds. A recent government directive requires GJEPC membership to obtain the Kimberley Process Certificate for the import and export of rough diamonds in India, a move that would allow the council and its members to self-regulate and maintain the high standards of India’s diamond industry. Shah maintains a positive outlook for the year. “Diamond sales will be good in 2022 barring strict lockdowns. We are targeting growth of 10 to 15 per cent in diamond exports compared to 2021,” he said. Business scenarios Pandemic-driven challenges became the greatest catalyst to streamline businesses across the value chain, said Kiran Exports (HK) Ltd Director Gautam Gopani. Miners played a pivotal role in keeping rough mining and supply in check, thereby creating a healthy pipeline, he pointed out. This along with restricted manufacturing activity kept inventories low. When demand snapped back globally, prices remained stable and there was no excess inventory. In fact, some goods are in short supply now. “Pent-up demand provided the initial buying support to the industry. In some markets, consumers diverted stimulus packages and discretionary spend to jewellery purchases, as other luxury items such as travel and dining were limited,” Gopani commented. The company official observed strong demand from the US, Europe and Asia, and anticipates an upturn in business from China soon. “We have seen a sharp increase in demand across categories. Non-certified diamonds particularly are showing tremendous strength due to robust demand, higher input cost and depleting midstream inventories. Quality-wise, SI to I3 stones are moving extremely well,” Gopani shared. Another significant development for Kiran Gems, one of the world’s largest diamond manufacturers, is the continued growth of its online business. Servicing over 2,000 repeat customers worldwide, its e-commerce portal generates more than 65 per cent of overall sales. Business is also booming for Prism Group. According to Managing Director Zulu Ghevriya, demand has exceeded pre-pandemic times, thanks to diverted discretionary spend, the return of weddings and diamond jewellery’s evergreen appeal as a symbol of love and lasting relationships. David Kellie, CEO of Natural Diamond Council 天然钻石委员会首席执行官David Kellie Younger – Millennial and Gen Z – consumers, both women and men, now consider diamond jewellery as part of their everyday wardrobe, not just for engagements, weddings and special occasions. This offers huge potential for markets globally. – David Kellie, CEO, Natural Diamond Council
焦点 JNA Jan/Feb 2022 | 19 “The concern at present is the high prices of rough due to supply shortages since miners limited production during the pandemic. We hope prices will stabilise soon,” said Ghevriya, who cited the Middle East, Asia and the US as the more active markets at present. Consumer demand David Kellie, CEO of the Natural Diamond Council (NDC), agrees. The US drove much of the market growth in 2021 but the second half of the year saw strong rebounds in Europe, Asia and the Middle East, he said. “We can clearly see the growing resonance of diamond jewellery with a new, younger audience and this will continue to expand at a rapid rate in 2022. This has a significant impact in multiple sectors including self-purchase, men’s jewellery and diamond jewellery for everyday wear,” he explained. Kellie attributed the substantial growth in the global market for natural diamonds to changing habits created by the pandemic, a significant upgrade in the industry’s digital capabilities and, more importantly, longer-term cultural shifts in consumer behaviour. NDC’s consumer-facing, content-driven strategy on multiple digital platforms has successfully engaged consumers across markets. By end-2021, its global websites would have welcomed around 130 million unique daily visitors, Kellie noted. Aside from its engaging narratives, multi-channel digital assets and ‘For Moments Like No Other’ campaign with actress Ana de Armas, NDC also highlights the sustainability journey of diamonds through its 'Thank You, By The Way' campaign, in cooperation with the Responsible Jewellery Council. On the retail side, NDC has named Chow Tai Fook its strategic retail partner in China and works with multiple luxury independent retailers in the US. It intends to expand the retail cooperation programme next year. Demand for diamonds is forecast to balloon in 2022, according to Kellie. The diamond jewellery market will be shaped this year by the return of weddings, the growth in online sales for retailers and significant shifts in fashion. “Younger – Millennial and Gen Z – consumers, both women and men, now consider diamond jewellery as part of their everyday wardrobe, not just for engagements, weddings and special occasions. This offers huge potential for markets globally,” he said. US$2.75B 27.5亿美元 Net polished imports through the Shanghai Diamond Exchange from January to November 2021, a nearly 60 per cent increase over the same period in 2019 2021年1月至11月透过上海钻石交易所进口的已打磨钻石净额，比2019年同期上升近60% 尽管新冠疫情高峰期间矿场和工厂关闭导致供应短缺，加上与 封锁措施相关的中断带来物流和营运问题，但业内持份者指 出，如今钻石行业正在重返正轨。 到了2021年第三季，主要钻石中心的表现已经达到甚至超 过疫情前的水平，主要原因是全球大部分市场已经恢复经济活 动，令被压抑的需求得以释放。 2021年1月至11月期间，透过中国上海钻石交易所(SDE)进 口的已打磨钻石净额高达27.5亿美元，已经超过了2018年的 27.4亿美元纪录金额，证明全球对钻石的需求急升。该数字比 2020年同期增长了123.2%，比2019年攀升59.6%。 在上述期间，SDE的钻石交易总额达到66.6亿美元，较2020 年劲增102.8%，与2019年比较则上升69.9%。 崭新市场 根据以色列经济和工业部数据显示，2021年首九个月的已 打磨钻石出口额为25.7亿美元，比2020年同期增长49%。在这 段期间，毛坯钻石的净进口额同比增长137%至14.7亿美元。与 此同时，毛坯钻石净出口额达到13.4亿美元，同比增长160%。 以色列钻石行业协会(IDI)执行总监Aviel Elia指出，行业在 2020年初因新冠大流行爆发而表现欠佳，但到了年底，情况已 有所改善。以色列钻石行业在2021年全面复甦，某些进出口类 别甚至超过2019年的水平。 他又补充，美国市场的强劲需求推动了以色列的钻石业发 展，弥补了疫情期间因旅游限制导致另一主要市场——香港业 务下滑所带来的损失。 《以亚和平协议》除了使以色列与巴林、阿联酋、苏丹和摩 洛哥的关系正常化，也有助加强以色列的钻石行业发展。以色 列钻石交易所(IDE)和迪拜多种商品交易中心(DMCC)已互设办 事处。Elia表示：“自签署《以亚和平协议》以来，以色列和迪拜之
FOCUS 20 | JNA Jan/Feb 2022 间的钻石贸易大幅增长。透过迪拜钻石交易所，以色列钻石业 现在已有途径开拓其他海湾国家市场。” 2021年9月，以色列向阿联酋出口2,130万美元的毛坯钻 石，约占以色列该月毛坯钻石出口总额的12%。与此同时，以色 列亦从阿联酋进口了价值1,920万美元的毛坯钻石，约占以色 列9月份毛坯钻石进口总额的22.5%。 Elia透露：“我们正与海湾国家共同开拓更多商机。卡塔尔 已与以色列达成商业协议，现在也是《金伯利进程》的成员。据 我们了解，该国正计划开设钻石交易所，将为我们创造崭新机 遇。巴林也有兴趣与IDE开展贸易关系。” 产业状况 印度钻石行业在2021年也经历增长。4月至9月期间，已切 割及打磨钻石的出口额增长125%至123.7亿美元，2020年同期 数字则为55亿美元。印度宝石和珠宝出口促进委员会(GJEPC) 主席Colin Shah预计，全年数字将超越疫情前的水平。Shah表 示：“从2020年第四季至2021年全年，美国和中国对印度的已打 磨钻石需求稳定。所有早期迹象表明，美国假期季度的珠宝销 售呈现健康增长，而且从采矿到零售的整个钻石行业链都表现 理想。然而，人们对与疫情相关的供应链中断、通货膨胀压力和 Omicron新变种病毒等挑战，均存在一些担忧。”他指出，印度的 钻石工厂在2020年3月暂时关闭后，为了遵循新冠疫情安全措 施而恢复有限度运作。如今该些厂房已经全面重启，令印度能 够满足美国、中国内地和香港等主要市场的需求。 “除了需要加强数码化进程之外，疫情还教会了我们市场 多元化的重要性，不要过分依赖单一出口目的地。另一个重点 就是保持成员之间密切沟通。”他说。 过去18个月内，GJEPC举办了几次虚拟贸易活动，包括钻饰 及裸钻买卖双方交流会，令生产商能够在疫情期间交易。委员 会还以虚拟形式进行“印度全球连接”(India Global Connect)计 划，让生产商与其他国家的零售商讨论市场趋势并探索商机， 从而开拓新市场。GJEPC已与英国、哥伦比亚、瑞士、安哥拉、阿 曼、新加坡、摩洛哥、沙地阿拉伯、阿联酋、中国香港、卡塔尔和 泰国进行了"印度全球连接"会议。 为了振兴钻石行业，GJEPC一直呼吁政府对特别通知区 (Special Notified Zones)实施营业额/推定税制、将认证和分级 服务的商品及服务税率合理化、取消毛坯钻石采购的2%均等 税，以及调低已切割及打磨钻石的进口关税。 最近的一项政府指令，要求GJEPC成员在印度进出口毛坯 钻石方面获取《金伯利进程》证书，此举将令委员会及其成员能 够进行自我监管，保持印度钻石业的优质水平。 Shah对今年的前景保持乐观“: 除非实行严格的封锁措施， 否则2022年的钻石销售将会表现良好。与2021年相比，我们的 目标是将钻石出口提升10%至15%。” 商贸局面 Kiran Exports (HK) Ltd董事Gautam Gopani表示，疫情所 引起的挑战，确实成为了精简整个价值链业务的最大催化剂。 他指出，矿商在控制毛坯钻石开采和供应量方面发挥了关键作 用，从而创造健康的供应系统。再加上生产活动受限，令库存保 持在较低水平。当全球需求回升时，价格能够保持稳定，没有多 余的库存。事实上，现在有些产品已呈供不应求状态。 Gopani评论道：“被压抑的需求为行业提供了起始购买动 力。在某些市场，由于旅游和餐饮等其他奢侈范畴有所限制，因 此消费者将刺激经济方案补助金和可支配支出转移至购买珠 宝。”据他观察所得，美国、欧洲和亚洲均展现强劲需求，并预 计中国的业务快将好转。“我们看到各个类别的需求正急速增 长。由于需求强劲、投入成本较高和中游库存逐渐消耗，非认证 钻石尤其展现庞大实力。品质方面，SI至I3等级的钻石销情极 佳。”Gopani分享道。Kiran Gems是世界上最大型的钻石生产商 之一，该公司另一个发展重点，在于持续增长的线上业务。其电 子商务门户网站为全球2,000多位常客提供服务，占总销售额 的65 P % ris 以 m 上 G 。 roup的业务也欣欣向荣。执行总监Zulu Ghevriya认 为市场需求已超过疫前，原因为可支配支出转移、大众复办婚 礼，再加上钻饰拥有象征爱情关系的长青魅力。“目前令人担忧 的是，由于疫情期间矿商限制生产，令供应短缺，导致毛坯钻石 价格高企。我们希望价格能尽快稳定下来。”Ghevriya表示。他指 出中东、亚洲和美国是目前比较活跃的市场。 消费者需求 天然钻石委员会(NDC)首席执行官David Kellie对此表示赞 同。他说美国在2021年推动了大部分市场增长，但在下半年， 欧洲、亚洲和中东均出现了强劲反弹。他解释：“我们可以清楚 看到，钻饰在更年轻的全新消费群中产生越来越大的共鸣，而 且会在2022年继续急速扩展。这股势头对多个领域产生了重 大影响，包括自购首饰、男士首饰和日常钻饰。”对于全球天然 钻石市场大幅增长，Kellie归因于疫情造成的消费习惯改变、业 内数码实力显著提升，而更重要的是消费者行为呈现长远的文 化转 在型 多。 个数码平台上，NDC采取面向消费者和内容行销策略， 已成功吸引不同市场的消费者。Kellie指出，到了2021年底，其 全球网站每天将可获大约1.3亿不重复浏览人次。除了引人入胜 的叙事手法、多渠道数码资产和与女演员Ana de Armas合作进 行“For Moments Like No Other”宣传活动之外，NDC还与责任 珠宝业委员会合作，透过“Thank You, By The Way”企划，展现 钻石的可持续发展旅程。 在零售方面，NDC已委任周大福为中国零售策略合作伙伴， 并与美国多家独立奢侈品零售商合作。委员会打算在明年扩大 零售合作计划。Kellie预计2022年的钻石需求将会激增。今年的 钻饰市场也会受到大众复办婚礼、零售商发展线上销售模式， 以及时尚潮流经历重大转变所影响。他说：“千禧世代和Z世代 的年轻消费者，无论男女，现在都把钻饰视为日常打扮的一部 分，而非只用于订婚、婚礼和特别场合。这点为全球市场赋予巨 大潜力。” Colin Shah, chairman of the Gem & Jewellery Export Promotion Council 印度宝石和珠宝出口促进委员会主席Colin Shah
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