29th HK International Jewellery Show surpasses expectations

The 29th HKTDC Hong Kong International Jewellery Show, which began with moderate optimism, also continued and concluded with the positivity it began with. Exhibitors expressed that results were better than expected. It can be said that this show has added the much needed positivity which was missing in the first few trade shows that unfolded in the beginning of the year including IIJS Signature, Vicenza and Tucson.

Asian buyers dominated the business scene at the show, with Indian and Chinese buyer activity being good in the certified goods category. With the Chinese New Year having just got over, the Chinese buyers are optimistic of good business this year. Very few American and European buyers were seen in the show. Intra-trade buying was good at the show.

The diamond category of 3ct+ was bit slow. Also, fancy shapes like pears, marquise and heart shapes were very strong and diamantaires opined that prices in these categories should go up. Diamonds should gain some momentum as the positive news would spread among the manufacturing and trading centers. The colored stone category saw moderate results. There was a price fall in tanzanite. Also the issue of raisin treatment in Zambian emeralds kept buyers skeptical. The jewellery segment too received moderate results, barring the category of designer and high-end jewellery which received good interest.

Speaking to DiamondWorld, David Shah, Aspire Designs Ltd said that they “have received orders from China, Middle East, India and even European countries. Their new collection 'Vida' received good response. This show is a good start for the year”. Nissim Palomo CMO, Israel Diamond Institute also mentioned that the exhibitors in the Israel pavilion were happy as they came with low expectations but the show has turned out well.

But some exhibitors gave moderate reactions. One diamantaire mentioned that uncertainty looms over business, as the show preceded with low expectations and anticipation of prices falling, but the event turned out good and prices were also stable.

All in all the overall economic slowdown and currency fluctuations in the last three months had taken their roll on the trading mood, and the HK Show has certainly brought some relief to this.