Tomei MD Datuk Ng Yih Pyng discusses future of gemstone and jewellery trades

As technology and the scarcity of natural resources collide, the industry has undergone massive shifts in recent years.

Ng at the Le Lumiere boutique at The Exchange TRX (All photos: Low Yen Yeing/ The Edge)

Diamonds are a girl’s best friend. It was this line, first sung by Carol Channing in the 1949 Broadway production of Gentlemen Prefer Blondes, and later popularised by Marilyn Monroe in an unforgettable hot pink gown for the 1953 film adaptation, that has become not just gospel for those with a taste for the finer things in life, but also a key pop culture element that cemented the diamond as a symbol of romance and ultimate object of desire.

These precious stones, which naturally occur in a range of colours but are most commonly depicted and imagined as clear and transparent, have been the gem of choice for special occasions for much longer than many realise. The first-ever recorded example of a diamond proposal ring was the one Archduke Maximilian of Austria presented to Mary of Burgundy when asking for her hand in 1477. Historians and gemologists agree that this one act started a trend among the wealthy and powerful.

It was not until 1840 that diamonds found their way to the Americas, becoming commonplace only around the 1930s. Later in 1947, luxury label De Beers began advertising with the phrase “a diamond is forever”, honing in on the concept of it being a wonder of nature forged over billions of years and here to stay for more, making it the ideal representation of everlasting love.

Much has changed in the decades since, and various styles have faded in and out of popularity in the modern jewellery scene. Datuk Ng Yih Pyng, managing director of local jeweller Tomei, has witnessed plenty during his 33 years at the company. According to him, “brands also come and go” as consumer preferences, the economy and raw material options change, with only a few mainstay houses refusing to budge. He is certain Le Lumiere, one of the four primary labels under Tomei, will not be losing its lustre any time soon.

20241204_lei_le_lumiere_trx_mall_dsc_1705_lyy.jpg

Le Lumiere’s new TRX boutique is a jewellery lover’s paradise

Let there be light

When the Hong Kong-founded brand first arrived on Malaysian shores, Tomei was its sole local distributor. “Le Lumiere came in around late 2002 to early 2003,” relates Ng. “The gold business has always been one of the primary markets, with gemstones being more niche. In the 2000s, we noticed a trend in diamond jewellery and had the vision to bring more to the local market. There is a perception that diamonds are only affordable for the wealthiest people. We wanted to make it more attainable while also offering the best quality to customers.”

Le Lumiere prides itself on being a procurer of the finest natural diamonds. Only about 0.1% of stones qualify, having gone through a stringent quality control process and been painstakingly faceted to achieve a perfectly symmetrical Hearts and Arrows cut that optimises sparkle. Today, the brand specialises in diamonds while also curating a small selection of gemstone bijouterie. The label is in all Tomei stores, has its own flagship outlets in The Gardens Mall and The Exchange TRX, and amassed a local as well as international clientele. But things did not always look this bright.

“What happened was, before we bought the company over, in 2006, there were some partner issues that led it to the brink of closing down. It had ended all its contracts with partners and other distributors around the world, and put out the announcement that it would be ceasing activity,” Ng says.

Familiar with Le Lumiere’s offerings and ethos, he saw the closure as a great waste of potential. “One of the fundamentals of a good business is a great product. You cannot sustain a company if what you create is not good. It’s one of the key reasons Le Lumiere has been doing so well locally. That’s what gave me the courage to approach the original owners and acquire the brand.”

To uplift the label into what it is today, Ng decided to “leverage Tomei’s reputation as a household name in Malaysia that already had a history of offering a certain standard and calibre”. Along with a dedication to quality, artistry became the new focus. Ng explains it such: “I can hold out a diamond and tell you it’s the best, but without setting and design, it cannot be worn. When you wear and buy jewellery, craftsmanship and form are important. It’s more than just the stone alone, even though that’s the focal point.”

This desire to highlight nature’s wonders in their most elevated form combined with a steadfast commitment to the house’s core pillars enabled Le Lumiere to not only pull through the pandemic years, but also thrive in the aftermath. “If you look at Malaysia and even worldwide, we are one of the very few brands still actively expanding. The reason for that is the quality of product and design, as well as the perseverance of the management team. There’s always a lot of competition coming in, and lab-grown stones are making an entrance, but we stay clear about our direction. Every piece we make features only natural, ethically sourced diamonds, and we are very firm on that because we want people to remember us as professionals in this field.”

20241204_lei_le_lumiere_trx_mall_dsc_1803_lyy.jpg

This ring with multiple rows of brilliant diamonds proves great things can come in small packages

In one's blood

In 1968, Ng’s father, the late Tan Sri Datuk Dr Ng Teck Fong, returned to Malaysia after completing his studies abroad with a dream to change the local jewellery scene. “The business was founded by my father, beginning as a manufacturer,” he says. “From there, it went to distribution and retail in the early 1970s.” The inaugural Tomei store opened in 1973 at Campbell Shopping Complex, Kuala Lumpur, making it the first-ever jeweller to set up shop in such a building. It was from there on that a policy to open only in malls began.

“Before 1968, all jewellery stores in the country were located along the main street. Even today, in any town you go to, you can probably find a few boutiques along the roadside shoplots. Things have evolved and now we have hundreds of malls. Tomei currently has about 60 stores across Malaysia, all in major shopping centres.”

Taking over the family business proved to be no easy feat. There are few shoes bigger and more daunting to fill than those of one’s parent. “My father started out with a few thousand ringgit, which he could not even use to open a store on his own. He had to borrow and get many investors to help with each set-up. Handling those partners we acquired over the years is not as easy as it seemed to be, especially as a second-generation business leader. My father had no problem dealing with them; these people were all his friends! But when I came in, the staff, suppliers, bankers and shareholders were sceptical about the changes and direction I wanted, which was fair. While none of them caused me any issues, I still had to deliver,” Ng chuckles, a note of nostalgia in his voice.

While several people helped and guided him during his adjustment period, the one person he looked up to the most was his father, whom he remembers fondly. “He was a very wise man. At the time, I was not very experienced, and my father was the type to let me learn through trial and error. He said to me, ‘You can make mistakes. In fact, you need to. That’s how you learn’,” Ng recalls, laughing about how dad’s sole condition was for him to not lose the company.

Over the years, Ng’s siblings and wife also joined the business, and along with the rest of the Tomei group, built the company up brick by brick. Together, they braved the 1997 Asian financial crisis, the aesthetic shifts brought about by the Y2K era and the nearly decade-long struggle to get Tomei listed. Now, with it on Bursa Malaysia’s Main Board, expansion is on a smooth upward trajectory with greater international opportunities.

20241204_lei_le_lumiere_trx_mall_dsc_1860_lyy.jpg

A set of sapphire and diamond pieces is just the thing for those pursuing a cohesive look

Nature vs nurture 

No matter what someone tells you, there is always a sliver of truth in the saying “the customer is always right”. Or, at the very least, consumers have a lot more influence on how industries change. In terms of the diamond trade, the call to end unethical mining and the subsequent labour violations and environmental damage have resulted in the prominence of a somewhat controversial material — lab-grown gems.

Almost chemically, physically and visually identical to their natural counterparts (at least to the untrained eye), synthetic diamonds have long been used as hard coatings for industrial equipment and cutting tools, as well as substrates for semiconductors. Larger stones were seldom crafted, that is until they were introduced to the gem and jewellery markets in commercial quantities only a few years ago. As inflation and prices rise and more consumers learn about the dark side of the jewel trade, these man-made versions have become the new hot thing, with some artisans and indie labels dedicated purely to selling them.

Ng admits this has noticeably impacted the general industry. “Lab-grown stones have actually triggered a confidence issue regarding natural stones. How can regular customers differentiate between the two?”

His passion for natural stones and Le Lumiere’s commitment to them do not mean he is against the synthetic variety, but rather he wishes consumers to be better informed about them. “They have a lot of appeal, one being they’re supposed to be more environmentally friendly. But the truth is the manufacturing process uses so much power that, in my opinion, it is not as sustainable as people think.”

While he agrees it can be a great substitute for those who covet a bigger stone but lack deep enough pockets to go natural, Ng points out how the accessibility of lab-grown stones is a double-edged sword. “Today, the prices can be even less than a quarter that of natural diamonds. The numbers have dropped so much in recent years. This goes to show their value will only continue to fall. On the other hand, natural gems will always be precious, as they come from the earth and no two are the exact same. If you have the tools to tell them apart, a natural stone always wins.”

This is not to say the market price of natural diamond wearables has not been jolted. Ng clarifies, however, that this affects the larger items mainly. “The value of a piece of jewellery is not only the diamond, but also metals like gold as well as craftsmanship, both of which have increased in value. Imagine if you buy a five- or even three-carat diamond ring. The stone alone costs at least a few hundred thousand. The metals in proportion to that jewel are not going to affect the overall price much. It is only when the price of said bigger stone drops that the numbers decrease significantly. If the price of gold has gone up, then pieces with smaller diamonds generally maintain their worth or can even become more expensive as the gem plays a smaller part in the overall value.”

To ensure Le Lumiere’s faithfulness to natural diamonds is ethical, the label was recently inducted as a member of the World Diamond Council. This organisation helps jewellers around the world comply with the Kimberley Process, a trade regime that works to stop the flow of conflict diamonds. “They also make sure we source from a pool of trusted suppliers to guarantee the traceability of every piece and our adherence to ethical practices,” Ng assures.

20241204_lei_le_lumiere_trx_mall_dsc_1943_lyy.jpg

Each pearl on this necklace and bracelet depicts a timeless colour gradient

No stone unturned

Not all changes in the jewellery industry are bleak and grey. Some can be funky and fresh.

One of 2024’s biggest movements was the widespread resurgence of vivid gemstones. The public’s hunger for vibrant tones in every hue of the rainbow — whether deeply saturated rubies and sapphires, fancy coloured diamonds or even crystals like carnelian, amethyst or aventurine — is reflected in much of this year’s fashion and accessory releases.

At Le Lumiere, this growing trend has birthed coloured gemstone collections, namely the 2022 Royal line that features white diamonds interspersed with eye-catching gemstones. Meanwhile, pearls in varying tints and sizes present a distinctive yet sophisticated choice for those who want a more understated look.

Ng notes that while diamonds will always be the heart of Le Lumiere, these alternative designs (and others in the works) cater to the stylish, experimental clients who are always on the hunt for something new and stimulating. “Over the years, we noticed customers don’t always want just diamonds, especially ladies who like to mix and match. Diamonds are easy to wear because they’re usually colourless and can easily complement any and all clothing. However, sometimes you want a ruby when you wear something red, or an emerald for a green outfit. So we come up with new models that appeal to different customer needs.”

As more consumers shun the status quo, looking to develop a unique sense of style, Ng foresees personalised jewellery taking off in the new year. Hence, Le Lumiere has begun to offer services to meet this demand. This goes beyond pendants bearing one’s name or initials and into the realm of completely customised pieces incorporating deeply personal design choices that resonate with the wearer alone.

Don’t want to be caught dead sporting the same thing as someone else? Bespoke items solve that problem too. “People these days want jewellery unique to them. Most don’t want to wear something their friends and everyone else on the street also has. Additionally, in terms of gifting, if you really want to show someone how special they are, you pick pieces and designs based on their individual preferences.”

He predicts 2025 will also see a rise in versatile and transformable accessories. “Many customers love things like pendants that can be detached or double up as a ring. There are endless configurations, so that’s another venture we are planning to embark on,” he muses.

The future looks bright — as it poetically should for a brand whose name is modelled after “light”. The Tomei name too means “an abundance of beauty” in Mandarin, and prosperity is always best shared. Perhaps it is these hopeful sentiments of perpetual wonder and loveliness that propels Ng to constantly innovate and dream, one glittering stone at at time.

 

This article first appeared on Dec 23, 2024 in The Edge Malaysia.

Follow us on Instagram