Following the recent announcement by CEO Nick Hayek Jr. that the Swatch Group would be packing up its 18 brands - including Omega - and its approximately 50-million dollar budget and heading for the exit at BaselWorld, the renowned watch and jewelry trade fair is facing a future of uncertainty. Hayek's statement about Swatch's departure was blunt and clear as a bell: “Today everything has become more transparent, fast-moving, and instantaneous ... In this new context, annual watch fairs, as they exist today, no longer make much sense. This does not mean that they should disappear.
This past Monday, the JCK Las Vegas show and jewelry week surrounding it came to its conclusion with steady trading reflecting a confident US market, despite a significant dip in the number of exhibitors and foot traffic at the various shows. The exhibitors and organizers acknowledged the decline of visitors, but were adamant that those attending the events headed out to the desert with a greater sense of purpose than in prior years, as buyers were looking for specific goods and exhibitors were maintaining existing relationships.
New Diamond Technology (NDT) has produced a blue diamond that it says is the world’s largest lab-grown blue diamond – and more than twice the size of its previous large blue stone, reports Rob Bates in JCK Online. The SI, Asscher cut stone weighs 10.07 carats and has a fancy deep blue color. NDT's largest blue diamond had been a 5.03-carat stone.
The first International Gem & Jewellery Festival (IGJF) will start next Tuesday, running from September 13 to 18 at the Hong Kong Central Harbourfront Event Space, showcasing gemstones, pearls, diamonds, opals and fine jewelry. The show will provide competition for UBM's Gems and Jewellery Fair which takes place on the same days.
International Jewellery London (IJL) took place from September 4 to 6 2016 at Olympia GRAND London against the background of a tough economic outlook in the United Kingdom following the Brexit vote. However, exhibitors spoke of buyers from all over the world turning out in force at the annual trade show. The strong decline of the pound following the Brexit vote in June has made British exports much more attractive, with retailers in London providing evidence of a surge in foreign spending. The show featured 500 exhibitors from 33 countries.
The World Jewellery Confederation (CIBJO) and Fiera di Vicenza will hold a seminar on marketing to millennials at the VicenzaOro show in Italy next week. Speakers at the panel discussion will include Jean-Marc Lieberherr, chief executive of the Diamond Producers Association; Costantino Papadimitriou, senior VP of brand strategy and innovation at Forevermark; Roberto Coin, owner of the jewelry brand that bears his name; and Ella Goldner, global strategy director at IPG Mediabrands, an advertising and marketing agency in London.
The fourth edition of the Singapore Jewelry and Gem Fair will take place at the Marina Bay Sands Expo and Convention Center from November 4-7. More than 200 exhibitors are expected to take part, while jewelers from Austria, Belgium, Germany, Hong Kong, India, Italy, Japan, Switzerland, Taiwan, Thailand, USA and Singapore and elsewhere will attend. In 2015, the fair attracted around 10,000 buyers, with reported onsite sales of more than $16 million, Idex Online reported. Singapore is a significant high-end jewelry center.
The Thai Gem and Jewelry Traders Association (TGJTA) said its inaugural Thailand Gems & Jewelry Fair scheduled to be held from September 7 to 11 has been postponed to 2017 due to problems with securing the necessary space at the venue in the time required. In an official statement the organization said, “We had hoped to resolve the issue by now but unfortunately, despite our full efforts we regretfully were unable to [do so] within the necessary timeframe, despite our full readiness and preparations."
According to the Diamond Loupe's sources on the ground, traffic at UBM's recent Hong Kong Jewellery and Gems Fair was low throughout the entire show.
In a nutshell: the Las Vegas shows met the trade’s conservative expectations, foot traffic and diamond trading were slightly slower than previous years, and jewelry sales were resilient, reports Avi Krawitz. On the plus side, the important U.S. market continues to support the global industry, but there is list of factors making the trade nervous. These include concern among diamond dealers and jewelers about slowing demand for diamond jewelry, the rise of synthetics, how to effectively market to millennials, and the impact that a contentious U.S.
The number of exhibitors, buyers and visitors to the eight-day Baselworld tradeshow, which closed on March 24, declined by 3% on the 2015 show to 145,000 people from more than 100 countries, organizers said in a statement. There were also 4,400 media representatives, an increase of just over 2% from last year. Many attendees spoke of the reduced foot traffic, particularly in the halls where exhibitors of loose diamonds and gemstones were located.
Over halfway through BaselWorld – still the number one appointment in the global luxury watch and high-end jewelry industry – the warm spring sun and blue skies of the first days in Basel have given way to a cool 6 C° and bland, grey skies. Much like the temperature, the mood has dropped significantly as well. Last year, after five years of consecutive growth, Swiss watch exports fell 3.3% globally, echoing the struggle the entire luxury segment has been experiencing for the past year and a half.
Following reports by exhibitors and industry bodies of better-than-expected foot traffic at the March 1-5 Hong Kong Diamond, Gem & Pearl Show and the finished jewelry show which took place from March 3-7, the organizers of the shows reported 80,000 visitors to the fairs compared with 76,000 visitors last year. More than 31,000 buyers visited the Diamond, Gem & Pearl Show, while over 49,000 visitors attended the jewelry fair, according to the Hong Kong Trade Development Council (HKTDC).
Diamond companies exhibiting at the Hong Kong International Diamond, Gem and Pearl Show reported satisfactory activity in the opening days, with visitor traffic stronger than at last year's fair, Rapaport reported. The show for exhibitors of precious gems, semi-precious stones and pearls opened at the AsiaWorld Expo close to Hong Kong's airport on March 1 and runs until March 5.
The International Diamond Week at the Israel Diamond Exchange (IDE) officially opens today in the diamond trading hall of the bourse, with hundreds of buyers from overseas participating in the event, the IDE said. CIBJO President Gaetano Cavalieri will carry out the official opening of the buyers' week, which runs until February 18, and later will sign a statement of purpose for the establishment of the Israel Diamond Jewelry organization. Later on Monday, a panel will address the issue of marketing diamonds.
The January VICENZAORO show opened on Friday, featuring 1,500 brands from 30 countries. This year’s theme is the 'The Golden Voices' of the jewelry industry which focuses on corporate social responsibility and environmental sustainability in the supply chain. In addition, several projects and workshops are being held to facilitate contacts and investments among different regions, with a special focus on the United Arab Emirates, China and Russia, with dedicated workshops and events. In 2015, the value of Italian jewelry exports grew by 11% on the year to 4.2 billion euros.
The Hong Kong Trade Development Council (HKTDC) announced that two major jewelry shows in March will partly overlap. And as with the September shows, one will take place at the AsiaWorld-Expo venue near Hong Kong airport and the other at the Convention & Exhibition Centre. The third edition of the HKTDC Hong Kong International Diamond, Gem & Pearl Show will take place March 1 to 5 at the AsiaWorld-Expo, while the 33rd edition of the HKTDC Hong Kong International Jewellery Show will run March 3 to 7 at the Hong Kong Convention & Exhibition Centre in Central.
The trade organization will continue to admit exclusively trade visitors to the 2016 event, as in previous years. “Across all industries, there are regularly controversial discussions on the opening of trade shows to consumers,” said Klaus Dittrich, Chairman and CEO of Messe München. "INHORGENTA MUNICH has closely examined this topic, which is also of public interest. We would not like to follow the example of other trade shows blindly, but first and foremost take the best decision in the interest of our exhibitors and specialist dealers.
In excess of 800 vendors from all over the world exhibited at the 41st edition of the Istanbul Jewelry Show (IJS) which started on Thursday and ends today (Sunday). The show presents itself as a B2B platform for gemstone and jewelry companies wanting to markets in Turkey, the E.U., the Middle East, Russia and the CIS Nations, North Africa and the Mediterranean. Last year’s edition of the fair attracted just over 15,000 buyers, and featured 841 exhibitors from 26 countries.
The 3rd edition of the Singapore Jewellery & Gem Fair will feature more than 200 exhibitors this year. The show, which runs from October 22 to 25 at the Sands Expo and Convention Centre, aims to take advantage of Singapore's high levels of wealth and demand for diamond and precious gemstone jewelry and high-ticket watches.
Less than one hour before the opening of Hong Kong’s gems and jewelry fair on Wednesday a suspected thief from mainland China was arrested for possession of a fake diamond which police believe she intended to swap for a real gem at a booth of the show's many diamond exhibitors. The woman, aged 42, arrived from the central Henan province on Tuesday, and was stopped and searched by police after she was seen acting suspiciously at a registration booth at the AsiaWorld-Expo where the Hong Kong Jewellery & Gem Fair opened today.
With the Hong Kong Gems and Jewellery Fair due to kick off on Wednesday (September 16), all eyes are focused on the show, one of the major events on the global industry's calendar. Expectations are low and some dealers will not attend the fair due to its timing right after the Jewish New Year holiday and Jain holidays. Demand for polished goods for the Chinese wedding market is seen as stable, while luxury items continue to see low orders due to weakness in the country's economy and the recent battering suffered by the Shanghai stock market.
Organizers of the first Mediterranean Gemmological and Jewellery Conference held in Athens in June say the event was so successful that a second conference is being planned for May 2016 in Valencia, Spain. The conference in Athens was organized by the Athens Independent Gemological Lab (IGL) and the CGL-GRS Swiss Canadian Gemlab.
With demand for polished diamonds weak around the world, and stable at best in the United States, the organizers of the 33rd edition of the September Hong Kong Jewellery & Gem Fair forecast only very minor increases in exhibitor and visitor/buyer numbers. UBM Asia says it expects around 3,700 companies and 60,000 visitors/buyers to take part in the September 16-20 show for loose diamond exhibitors at the AsiaWorld-Expo (AWE), and the September 18-22 show for finished jewelry at the Hong Kong Convention & Exhibition Centre (HKCEC).
Stable demand in the United States is continuing to support, with excellent opportunities for cash buyers, Rapaport reports. On the minus side, Chinese consumer diamond demand is declining as the Shanghai stock market fell a further 8% this week. Consequently, low expectations are still in place for the September Hong Kong show, and the Indian domestic market is cautious about buying as the rupee falls below the 65 to the dollar level.
JAS 2015, the 9th edition of the Jewellers Association Show, will be taking place in Jaipur, India's colored gemstone center, from August 21 to 24 at the Jaipur Exhibition and Convention Centre, Sitapura. The new venue enables the show to expand and improve facilities, organisers said. The show will host around 500 booths covering different elements of the jewelry and colored gemstone trades, compared with 330 booths at last year’s event.
The 39th MidEast Watch & Jewellery Show in the UAE will have 50 percent more floor space, with 30,000 sq m, compared with 20,000 sq m in past editions. The sharp drop in gold prices is expected to generate strong intertest in a region known for its gold jewelry purchases, say organisers. The show takes place from October 6 to 10.
There may have been reasonable foot traffic at the India International Jewellery Show (IIJS) which kicked off on Thursday, however diamond sales were slow. Exhibitors reportedly have low expectations of the five-day fair and are aiming to strengthen relations with clients ahead of the critical jewelry-buying periods ahead of the Diwali festival in October and the following wedding season.
The four-day show ended on a positive note on June 28, according to organizers, UBM. There was a 20-percent rise on last year in the number of exhibitors to 2,286 from 45 countries and regions. The fair was visited by 24,838 people from 105 countries and regions, down from 26,103 visitors from 117 countries and regions at the June 2014 show.
The Gem & Jewellery Export Promotion Council’s (GJEPC) has announced that the 6th edition of India International Jewellery Week (IIJW) will be held in Mumbai from August 3 to 6.
The third edition of the Singapore Jewellery & Gem Fair will see more than 200 exhibitors from 28 countries taking part. Last year’s edition of the show attracted just under 10,000 visitors. The show's, organizers, a unit of UBM Asia, said Singapore is the third-wealthiest nation in the world based on Gross Domestic Product (GDP) and also has 105,000 high-net-worth individuals (HNWIs) and is poised to record the world’s highest growth of ultra-high-net-worth individuals (UHNWIs) in the next decade.
The poor state of the market and a liquidity crunch were among the factors that reduced activity at last week's June show. Hong Kong is a major gateway to the South East Asian markets and the HK fair is widely regarded as one of most important trade fairs.
Rapaport reports Reed Exhibitions, part of RELX Group, acquired Jewelers International Showcase (JIS), which hosts three annual business-to-business events -- one each in January, April and October -- for jewelry retailers at the Miami Beach Convention Center. The JIS Events will join the JCK Events in Reed Exhibitions' U.S. jewelry portfolio.
Some 2,233 exhibitors, from 40 countries and regions, will be showing collections of fine diamonds, gem-set and pearl jewelry, loose stones, jewelry accessories, and jewelry manufacturing and packaging tools and equipment at the June 25-28 fair at the Hong Kong Convention & Exhibition Centre. The show is regarded as one of the top trade fairs held annually in Asia.
The JCK Show Las Vegas met the low expectations of the diamond trade, with suppliers of polished diamonds reassured about the strength and stability of the U.S. market despite far from impressive sales and a constant demand for deeper discounts. Dealers and jewelers left Vegas in a relatively positive mood having done some business. Furthermore: "The industry seems to recognize that it can no longer take its position for granted and is slowly becoming more proactive to raise consumer interest."
The biggest diamond, jewelry and gemstone trade show in North America, which ran from May 29 to June 1, concluded on a positive note overall, reports Diamond World. Stability in the all-important American market helped create positive sentiment. Meanwhile, there was interest in CVD and HPHT-created diamonds, with visitors asking for information about quality and prices. In the jewelry arena, new and innovative jewelry did well, while demand for precious gemstones was slow.
UBM Asia Ltd., Taiwan Branch and the Taiwan Jewelry Industry Association will host the third Taiwan Jewellery & Gem Fair from November 20 to 23 at the Taipei World Trade Center.
Following Reed Exhibition’s purchase of Jewelers International Showcase (JIS Miami), JCK Events has announced plans for the launch of LUXURY Miami to run alongside. The LUXURY Miami event will feature 60 upscale brands in a salon setting and will focus on the Latin American market with a hosted retailer program for high-end retail stores from parts of South America, including Brazil; Mexico and the Caribbean as well as catering to high-end US and international retailers.
Natural Colored Diamond Association (NCDIA) and De Beers hosted panel discussions on the first day of JCK Vegas. NCDIA stated that natural colored diamonds are the highest growth segment for the jewelry business and retailers can achieve "unprecedented profit" from colored stones.
As the JCK Show in Las Vegas opens today, sentiment in the markets is improving, reports Diamonds.net. There are stable prices for some types of diamonds, underpinned by shortages. However, there is still a large supply of poor makes. Demand in the United States is solid but far from spectacular as jewelry chains' reports this week showed. The biggest development of the week: the decision by the world's biggest miners to create the Diamond Producers Association with a $6 million budget for diamond promotion.