The Hong Kong International Jewellery Show was held from March 5 to 8 at the Hong Kong Convention and Exhibition Centre. The fair authorities said that local buyers had increased by 11% , while the overseas turnout fell by 15% this year. According to them, the show registered considerable increase in buyers from emerging countries like Argentina, Chile, China, the Czech Republic, the Philippines, Poland, Saudi Arabia, Tanzania, Tunisia and Vietnam.

Raymond Yip, Assistant Executive Director of the HKTDC, noted that new markets take time to develop and that “emerging markets should diversify their markets, avoiding over-reliance on any one of them.” He also disclosed that HKTDC had allocated HK$80 million for various subsidized packages and these subsidies were attracting buyers to the show.

Hong Kong exhibitor Rosy Blue Hong Kong Ltd. said that the show had attracted many buyers from the Asia-Pacific region, including Korea and Indonesia, which was good for the company. Another Hong Kong exhibitor NTG Ltd. received an order for 150,000 silver lockets from an American buyer and an order for 10,000 lockets from an Australian buyer. The show received kudos from a large number of exhibitors who complimented the fair authorities for providing a platform at which buyers and exhibitors could meet and synergize for mutual benefit.

While the fair authorities maintained that the exhibition was a success, independent observers noticed that there were few buyers at the show although there was an unprecedented participation of 2306 exhibitors at the show. Buyers could have been deterred by the market situation of fluctuating dollar prices, high gold prices and uncertain diamond prices.

Not many Indian buyers were seen either, possibly due to the rising dollar, which touched Rs. 52, a high of 5%-7% in one week. Liquidity also remained a crucial question. Sellers were not willing to sell on credit, especially to American buyers. Many buyers wanted discounted deals in the hope that sellers would liquidate their stocks. But other sellers like the Israelis prefer to wait for the market to stabilize rather than sell at low rates.

‘Butterflies’ of Italy Sparkle in Hong Kong :
Undoubtedly one of the year’s most sparkling events yet, the Italian Trade Commission brought to the city a dazzling range of jewellery from over 115 prominent Italian jewellers for the Hong Kong International Jewellery Show. To celebrate this amalgamation of talent, the Italian Trade Commission was proud to be hosting a showcase of jewellery from exhibiting jewelers at the Jewels of Italy Gala Evening and Jewellery Parade on March 5, 2009 at the Grand Foyer of Hong Kong Convention and Exhibition Centre.

The main theme for this year’s Jewellery Parade was butterflies. Loved for their multifaceted magnificence, butterflies are synonymous with the creativity and legendary beauty found in Italian jewellery. With its brilliant colorways, imaginative forms and resplendent array of gems and jewels. Over 50 sets of jewellery to be showcased will radiate the essence of the Art of Beauty. Top models were among those parading down the catwalk in the year’s most breathtaking Italian treasures.

Recognizing Hong Kong as the centre of the Asian trading hub, the Italian Trade Commissioner Romano Baruzzi hopes the Jewels of Italy Gala Evening and Jewellery Parade will further cement the standing of Italian jewellery in the hearts of importers, traders and most importantly fans of these wonderful designs. “We believe the international buyers are able to find the best products at the Italian pavilion as quality is always the first priority in the eyes of Italian producers,” he says.

The Jewels of Italy Gala Evening and Jewellery Parade offer a unique and exciting opportunity for Hong Kong to admire the beauty of fine Italian jewellery.

A few exhibitors opined that although sentiments were lower by 80%, business was down by only 40%, while others indicated that the September ’08 edition of this show fared better than the March ’09 edition. Overall, the lukewarm response to the show reflects the toll that the prevailing global recession is taking on the diamond sector.

Despite the mediocre success of the show, Raymond Yip emphasized that “the HKTDC organizes more than 30 trade fairs annually. Eight of them are ranked number one in Asia; they are must-attend events for buyers. We will continue to bring new buyers to our trade shows and promote Hong Kong as a regional trading hub.”