FOUNDED in 1996, the International Amber Association (IAA) has exerted every effort to ensure a high profile for Baltic amber, promoting the organic gem in the global market. In a bid to go further into the vast market in mainland China, IAA has appointed Nancy Chui, director of Amberozia Limited of Hong Kong, as IAA’s ambassador to China. Hong Kong Jewellery has talked with the cheerful entrepreneur for an update on IAA’s marketing initiatives and their impacts, as well as the amber trade in China, the world’s largest market for amber.
HKJM: Hong Kong Jewellery
NC: Nancy Chui
HKJM: You have been appointed as IAA’s ambassador to China for almost two years. Which initiatives do you think are the most impactful and how?
NC: I would say it is IAA’s active participation in exhibitions in China. In the past two years IAA was invited to exhibit at various trade fairs throughout China. In April this year, IAA also curated a very successful amber exhibition in Beijing held at the Poland Embassy. Our big presence has caught much attention of the Chinese media whose wide coverage on the events has generated considerable publicity for amber.
The Baltic Amber Festival (BAF) has come to the 3rd edition this year when it was for the first time held in two more cities other than Hong Kong: Shanghai and Macau. I am glad to see the fruitful collaboration between Gdańsk Academy of Fine Art and Hong Kong Design Institute. BAF has provided jewellery design tutors and students with an incomparable opportunity to appreciate and use amber as a highly inspiring material for fine jewellery making.
HKJM: What is the current status of the amber market in China?
NC: Although amber has made its presence in the China market since 2000, it is not until four to five years back from now that brisk demand for amber has been witnessed in the country. In the last two years, China has seen quite a number of new amber retailers, some of which are franchised. As of March this year, there are over 100 retail spots for amber or amber jewellery across China introduced by Polish or European amber suppliers; the number of local stores is soaring as well. It is a crowded market with many sellers in the key cities and on the internet, with the focus on the raw material.
HKJM: Robust sales of amber have given rise to undisclosed sales of reconstructed amber or forgeries such as copal in the market. How is the issue in China? How would IAA help to maintain the industry integrity?
NC: As other gemstones in the market, natural amber coexists with its forgery counterparts in every part of the world. According to IAA’s vice president Michal Kosior, amber forgery may account for nearly five percent of the gem in the global market, including China.
Since inception, IAA has asserted great importance to developing a standardised amber classification system for traders and consumers. In 2014, we have released the amended Commercial Classification of Baltic Amber, which was first published in 1998 and revised in 2010, in response to the global trend of identifying gemstones by name which is in line with Cibjo’s Blue Book categories. Besides, we have a set of regulations for our members and recommended companies under which the production and selling of amber must adhere to industry principles.
HKJM: Talks have recently been held between IAA and the National Gems & Jewelry Technology Administrative Center (NGTC) to formulate a standardised system for amber. How is it going?
NC: Early this year a NGTC delegation has visited Gdańsk. In September, Michal Kosior and Agnieszka Klikowicz of IAA visited the NGTC premises in Shenzhen. Both visits have initiated very fruitful meetings in devising a standardised system. In November Kosior was invited to Beijing for further discussion.
HKJM: What are IAA’s major plans for China in 2015?
NC: Mainland Chinese have a strong preference for honey amber, or mila in Chinese, the purer the better-received. Actually natural amber comes in a wide spectrum of colours ranging from milky white to cognac red, perfect for artistic and chic jewellery pieces that suit day-and-night wear. We are obliged to deliver such a message to the trade and the public in different cities through more education, seminars, workshops and exhibitions in collaboration with authorities in the gem trade. In the meantime, we will continue to work close with NGTC on the standardised classification.
HKJM: It is said that amber price is on a downward trend after a huge surge several months ago due to the strong demand from China. How do you see the price trends for 2015?
NC: The amber price was up by nearly 10 times over the past five years. The value of an amber weighing between 50 and 100 grams has climbed from HK$5,500 to HK$55,000. The temporary drop was a market adjustment to regulate the recent rocketing price influenced by the vast interest from the Chinese market as well as the Russian policy of curbing raw amber export. Due to strong global demand and limited supply, price for natural amber is expected to be on a steadily upward trend.
HKJM: What are the current projects you have on hand?
NC: This year we have been busy expanding Amberozia’s retail presence. For instance, the debut launch of a retail corner was made in August at HK Cruise Plaza, Kai Tak Cruise Terminal, marking an important milestone in our amber endeavour. Besides jewellery, we have introduced a more diversified amber product selection to the showroom in Central in a hope to reach out to a broader audience base. Our just-revamped website is featuring ‘Love Amber’ where people of different styles and professions share their genuine love of amber with the world. Among other carefully-designed marketing initiatives is the amber appreciation workshop.
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