VOD Dubai 2017: Merged format of B2B & B2C show receives mixed response

Dubai’s standing as the undisputed jewellery capital of the Middle East has been reaffirmed after the trade and consumer buyers flocked to VOD Dubai International Jewellery Show, which was held at Dubai World Trade Centre (DWTC) from 15^th to 18^th November. 

This is the first show after Vicenzaoro and Dubai Int’l Jewellery Week teamed up to provide a common platform for retailers and manufacturers to showcase their jewellery at one place. The show was divided in three parts - retail section, global brands and trade only floor.

A lot of exhibitors expressed their concern about the timing of the show. Dubai Show has been held in the month of December for many years, which gives a good 45-50 days gap from the Sharjah Show, which happens in the first week October. A lot of exhibitors felt that conducting this show in November has resulted in a weak footfall of end-consumers as they are done with their purchases in October and only leftover consumers were seen on the floor.

Talking about the issue, Luca Veronesi Director of VOD Dubai International Jewellery Show said, “This timing is perfect looking at the global calendar and we have to consider many factors and as it is no more a local show but a global international show.” He mentioned that there would not be any change in the show dates in the future as well. He further added that he would like it to fall between Sharjah and Bahrain Show.

Dhawal Jain of Uni Almaz said, “The show is on the slower side. Post VAT, the sales too will be affected. It’s not easy to pass 8-10 per cent to the end-consumer due to heavy competition and low market sentiments.” He continued to explain: “We pay import duty on cost of goods sold and now have to pay VAT on sale price of goods sold during the exhibition. This will make products dearer by 8-10 per cent and passing it to customer is easier said than done.”

Haresh Pahuja of ITAN Jewels said, “Show has been decent, we had our regular customers over the years visiting us. I must say that VOD has really worked hard to make the show global.”

“The exhibition has been a success for us so far, and we look forward to making more sales on the closing day of the show,” said Mansukh Kothari, Director, Vasupati Jewellers. “We have met many potential buyers already, especially those from Pakistan and Bangladesh,” he added.

They were many Indian retailers seen on the floor for mid season buying, like Saurabh Gadgil from PNG, Ishu Datwani from Anmol Jewellers, Raman Jethi from Krishna Krishna Jewellers, Arpit Rastogi from Lal Jugal Kishore Jewellers, Suresh from Vaibhav Jewellers and more. Apart from India, delegates from Pakistan and Sri Lanka also visited. Bangladesh buyers were active on the floor, as they have not visited Indian Shows in the last 6 months.

Gold bangle manufacturers like ORO and ITAN Jewels both agree that the impact would be negligible as opposed to what’s being projected. Dubai is a global city and a lot of tourists visit here and do their purchases and all of them will be eligible for VAT refund at airports. There will be initial adjusting issues, but 5 per cent should not be too much of a concern even for local customers.

The show had various talks by stylists, editors and trend forecasters along with Arab Fashion Week as an added attraction this year.