Business at Asia World-Expo :
The AWE presented the largest ever showcase for the loose diamond industry, leaving aside any thought of scarcity of goods in the market. Despite a lacklustre start, trade gained momentum from the second day. While India and China were the star buyers at the Expo. There were some US and European takers too.
There was good demand for 0.50 points to 3 carats, G to I, VVS to VS, VG+ goods with sellers pushing SI qualities to Far East market. Although diamond prices opened strong, the Far East buyers refused to pay higher prices. This resulted in softening of the prices, which was below the expectations of the sellers. The price stalemate restricted the sales volume. The colored gemstones segment seemed slow although some of the prominent players in gemstones business did fairly well.
Nonetheless, the gems and jewellery trade is expecting some good times ahead as market recovery is being discussed in the business circles.
Convention Exhibition Centre :
There was a mixed feedback from the fine jewellery segment of the fair. The first two halls presenting the Hong Kong jewellery manufacturers did fairly well. On the contrary, Asian pavilions like India and Thailand received low response due to odd positioning of the pavilions.
Encompassing two venues based on product segmentation, the Hong Kong fair was not devoid of any pros and cons. The Show proved to be convenient for the buyer to walk around the show and find specific people providing his requirements. Nonetheless, the relocation of many companies’ booths proved to be confusing for the buyers resulting in reduced sales. Many exhibitors found it impossible for doing inter-trade as the two venues were located at one hour distance from each other. Besides companies dealing in both gemstones and jewellery had to keep booths at the two venues, resulting in unnecessary cost and division of staff, especially when the industry has been hit by recession. Many exhibitors feel that the supplier show at the AWE should end two days after the jewellery show for better results.
India Forced on Back Foot :
Dampening of spirits amongst exhibitors was evident in the Indian Pavilion at the AWE and Convention. Although, India is considered a strong Asian market boosting the gems and jewellery industry, it did not get good visibility as compared to the Antwerp Pavilion and Israel Diamond Industry Pavilion strategically located at AWE.
According to Haridas Kotahwala, President of the Indian Diamond & Colorstone Association (IDCA) of USA and one of the exhibitors in the Indian pavilion, the Gems and Jewellery Export Promotion Council of India (GJEPC) is neither implementing proper efforts to negotiate for the location with the show organizers nor promoting the Indian Pavilion well. As the Hong Kong Show is now the biggest show of the world and most important event of the year, the GJEPC should plan strategically for this show. Otherwise Indian companies will start applying directly, he added.
Diamond World interacted with some of the exhibitors about their opinion on the Hong Kong Jewellery & Gems Fair. This, in short, is what they had to say:
Rahul Dholakia – Shree Ramkrishna Export, Mumbai
“The Show is good for us. The general market sentiments before the show were very good. The show has helped us to cash in those sentiments. Certified goods are moving much faster. Mainly Far-East and India are the great markets today. In past six months rough prices have seen upturn by 40 to 50 per cent and polished has also moved up by around 30 per cent. There is no chance that prices would come down now. The pipeline has shortage of goods. In fact the right required goods are very difficult to find.”
Sanjay Shah –JB & Brothers, Mumbai
“For the diamond industry Hong Kong has become the most important Show of the year. There is a strong demand for diamonds from 40 pointers up to 4-5 Cts at the Show. Besides India and China, there are a lot of buyers from Vietnam, Australia, and Philippines. The trade is moving overall. Once the price of a product is stable, people gain confidence on it and business starts taking place. Hence, stability is very important.”
Avraham Eshed – Eshed Diam Ltd., Israel
“We may not be busy as compared to the previous years, yet it is not bad. Two to five ct. is moving much faster. 50 per cent of the customers here are Indians. Generally at the show, people make decisions for 20-30,000 US$ on the table. Above that they don’t buy on the moment. We will be back in business like before within a year and for big gemstones in the next six months.”
Mia De Dooy, Senior Manager Marketing – AWDC Antwerp World Diamond Centre
“Antwerp is having its largest showcase ever with 80 companies from Antwerp exhibiting at this Show covering 2,000 mts2 of total space. We have also presented a special layout this year. The people who are looking for good quality diamonds seriously come to the Antwerp pavilion. Some exhibitors are already asking us to arrange more space next year. We have done a lot of planning and advertising to attract buyers to the Antwerp Pavilion. Apart from free drinks, we are also giving 0.5 cents diamonds every hour in a lucky draw. To get more business, the exhibitors also have to do their homework well.”
Osamu Kuroda, President – Hope International Inc., Japan
“It has been a very good Show for our company. China, India and Taiwan were among major buyers of our goods comprising 0.30 to 1ct+ goods at this show. I am not happy the way the Show has been divided this year. It has become a more tough competition now for the manufacturer as everyone is exhibiting goods next to each other.”
“We are among the leading companies in Hong Kong. This Show has been at par with our expectations. We are selling more to Asians, very few to Americans. We deal in all kinds of goods, so the buyer has good variety for selection. In this Show, we have launched our new B2B website, ragemcentre.com, offering huge inventory with precise quantity and value of the stock available in real time.
Nirav Virani - Director of Karp Group
The Show is positive for us. Most buyers were from Asian Countries. We offered Certified goods. Sizes that moved well- 0.30 to 5.00 carat. Our sales exceeded our target. Also Karp has the new marketing tool "kiosk" where the customer can check user-friendly online stock at show booth.
Anshul Mehta,-Rosy Blue, Mumbai
“Overall the Hong Kong show was good. While we received a lot of inquiries for 4cts up goods, there was a demand for diamonds of .30 to.69 and 1cts up, GHIJ and VVS VS. At the show there were a lot of serious buyers who resisted the higher price levels. The Indian and Chinese markets showed more optimism and potential as compared to other global markets due to the strong presence of buyers from these countries at the show. On the flip side, due to split of the Hong Kong show at two different venues, the division of visitors was visible. I think both the jewellery and diamond shows should be at the same venue.”
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