Peter Lam: Hong Kong's Shining Jewellery Designer
- 香港總商會會員編號 :
- HKP0050
Peter Lam: Hong Kong's Shining Jewellery Designer
Peter Lam used to ride the Star Ferry back and forth across Victoria Harbour a dozen times or more a day as a 16-year-old messenger in 1970s Hong Kong. Today, he is more likely to be found flying between countries to meet his customers or chatting with his admirers at "Peter Lam Nights." Despite his international success, the Hong Kong jewellery designer has remained as humble as when he first held a diamond in his hand 35 years ago.
"I learned a lot in those early days as a messenger," Mr Lam said. "There were only a few jewellery shops in Hong Kong back in the 1970s, and Henry Jewellery, located in the old Hilton Hotel where Cheung Kong building now stands, was my school of life, as well as my business school."
Many of the Hilton's guests also became Henry Jewellery's customers, and Mr Lam's exposure to this well-heeled international clientele opened his eyes to a whole new world.
He worked 16-hour days running back and forth with customers' orders to small jewellery factories in Tsimshatsui where they were transformed from raw materials into sparkling trinkets.
His diligence and aptitude ensured he rose quickly up the ranks to become manager after only seven years. While chatting with some customers from the Middle East one day, he discovered that many of them bought jewellery to sell back home. Feeling this was an opportunity the company could profit from, Mr Lam suggested that Henry Jewellery look at developing a sideline exporting jewellery to the Middle East. However, his boss believed they should stick to what they do best, retailing.
"I was a little disappointed. It also meant that I had reached the ceiling in the company, because if we weren't going to expand or try new lines, there was no way for me to develop," Mr Lam said.
Convinced his idea to export jewellery would work, he decided to strike out on his own, and in 1985 scraped together US10,000 to set up his own company to export jewellery to the Middle East.
He used his contacts to source gems from Thailand, and worked with factories in Hong Kong to transform his own designs into unique pieces. Customers interested in buying his jewellery, however, insisted on credit, which seriously limited his cash flow. Undeterred, Mr Lam decided to fly to Singapore to sell his jewellery. The decision proved to be a turning point for his fledgling business, and his big break came when an Indian jeweller took a shine to his designs and bought almost his entire stock. Encouraged by this strong start, he worked day and night in a small office that he shared with his brother to develop designs that he would then personally carry to Singapore to sell.
"My designs are creative and simple, but elegant," Mr Lam said. "The key thing is that I want every office lady to be able to wear a piece of Peter Lam jewellery and to enjoy it. I want my jewellery to be simple, and elegant; not a status symbol for people to show how wealthy they are."
No matter how good his designs were, however, the fact that he was outsourcing production to various jewellery factories in Hong Kong meant that quality control began to be a problem. The only solution was to take full control of the production process, so in 1986 he opened his own factory in Hunghom.
With his simple, creative designs and strict quality control measures, his client base continued to expand. Although the Middle East remained his largest market, where a single piece of jewellery might cost up to US$200,000, he decided to try and break into the then booming Japanese market.
He experimented with a new opulent line, ranging from gold cups, and even a diamond encrusted tissue box which ended up in the Brunei royal palace. The start of the Asian financial crisis in 1997, however, took the lustre out of his company's growth.
In 2000, he decided to try and design for a new group of customers -- the American market. He spent two months travelling around the United States doing market research, before finally launching his designs under the "Peter Lam" brand. With strict quality control measures, European flair and Asian price and quality, his designs were an instant hit.
Foresight and bold designs are the two key elements that he attributes to his success. "We are always two steps ahead of others. However, design is the biggest challenge, as the market changes very fast," he said. "New things appear every day, so I believe you have to always be creative, and never stop learning, which at the end of the day is very fulfilling."
