Translated by Man Young Sze •
6 December 2019
Hong Kong-based pearl traders need to adjust business strategies more often to stay on top of an ever-evolving market and cater to the demands of millennial consumers.
Gyso Pearls & Jewellery Ltd specialises in pearl wholesaling but it is also building its expertise in pearl jewellery manufacturing using one-of-a-kind designs. Its jewellery products have been well-received, according to the company. Top-billing its collections are “rotatable” pearl necklaces, teapot-shaped pendants, the “fancy colour” series and its latest product – Tahitian pearl bracelets.
The company has allocated significant resources to the development of finished products, explained company manager Lo Hoi Kah.
“We want to popularise pearl jewellery among a younger generation of buyers. We launched two new brands, namely Tanpopo and Amory Jewelry, to cater to their preferences,” noted Lo.
Tanpopo offers silver jewellery pieces in minimalist designs that are priced below US$120 while Amory Jewelry sells gold jewellery adorned with top-quality pearls.
Besides doing marketing and promotion on social media, the company has revamped its website in order to sell products directly to wholesalers and customers.
Kenneth Choi, general manager of Gyso Pearls & Jewellery, regularly visits pearl farms and attends pearl auctions around the world in order to procure premium pearls. The company's ability to consistently supply high-grade pearls has helped Choi earn his customers' trust over the years.
According to Choi, while Chinese buyers have become more cautious as a result of economic uncertainties, demand from Myanmar, Indonesia and the Philippines has increased. Moreover, a drop in the prices of Tahitian pearls also led to additional orders from Europe and the US, he added. Considering these factors, Choi said he is optimistic that pearl sales will grow steadily throughout the year.