The third edition of GemGenève marked by upbeat mood & serious buying

Highlights

• 120 exhibitors from 15 countries, compared to 210 in 2019
• 2,757 visitors from all over the world, compared to 3,474 in 2019, corresponding to over 3,800 entries in 2021, compared to 4,800 in 2019
• Day 1 and Day 2 saw fervent buying and kept exhibitors on their toes while day 3 was relatively slow
• Only high-end, niche and off-beat pieces were in demand
• Emeralds and off beat stones like Aquamarine, Alexandrite and Paraiba Tourmaline were in demand
• Old cut diamonds were also fast moving
• When it comes to fancy colour diamonds, pinks and blues ranging from 1-3cts were popular

 

Organising a niche jewellery show given the current circumstances, where parts of the world are still not free from the shackles of the pandemic is a tall order. Large shows, which have been present for many years still have the wherewithal to pull it off. GemGenève on the other hand is a fledgling venture and just after two editions, the last edition was cancelled because of the pandemic. But with around 4000 visitors, the four-day show was exactly what the stakeholders expected it to be – good business with serious buyers.

High-end jewellery and gemstone experts were waiting with bated breath for a show that resonates with their offerings which are exclusive, one-of-a-kind and rare. JCK Las Vegas was a no-go for Indians considering they couldn’t participate in the show due to travel restrictions. So, GemGenève was just what the industry needed, add to that perfect weather and ambiance to conduct business, what more can someone ask for?

Upbeat mood

Despite the difficult sanitary situation, the show has brought together 120 passionate, renowned exhibitors, eager to meet up again in a setting, which favours business, interaction and a special contact with experts. Visitors came from around the world to attend the third edition of the Geneva International Gem & Jewellery Show. “The show was well organised. Considering it was short notice, the organizers did a terrific job. All safety measures were in place and the show was well managed. After two years of no physical show, people were happy to be back in person,” said Dharmendra Tank of Heeralal Chhaganlal Tank, Jaipur.

By geographical distribution, Swiss attendees were in the majority, followed by visitors from Western Europe, the Middle East, North America, the Indian Subcontinent, Eastern Europe, the Far East, Central Europe and the Balkans, and finally Southern Africa, indicative of the international interest in the show.

“It was decently sized show and everybody was super excited to be there. The atmosphere was very upbeat. The first day especially was excellent and show floor was filled with serious buyers only. We literally didn’t have time and I felt like we were in HK show. The rate of conversion was also satisfactory. It was good to meet serious buyers who knew exactly what they wanted, no time was wasted. The first half of the second day was decent too, but the third day was relatively slow. We also met quite a few new buyers which was important for us,” said Darshit Hirani of P Hirani, Mumbai.

Demand more than average

Considering the year is nearly ending and holiday season is officially in full swing, demand for high-end, investment worthy pieces is definitely high. And GemGenève has always been about quality-conscious buyers. “Demand is definitely picking up. Doesn’t matter the extent to which there has been digital intervention, when it comes to high value goods, people want to see it in person and this was evident at the show. Enquiries are strong, but there is price resistance as well. Quality conscious buyers will always want the best,” added Tank.

"Footfall was not great in terms of numbers. However, the who’s who of the industry were present and were serious about buying. We did miss out on Asian buyers because of quarantine restrictions. But, important dealers from the U.S. and Europe were all there. And GemGenève is anyway not about high volume of traffic but quality buyers," added Tank.

"GemGenève was a vibrant and energetic exhibition across the verticals in the jewellery trade. We felt a the strong demand for coloured diamonds and the desire for these gems becoming insatiable. Global brands and high-end jewellers were planning for the upcoming holiday season as well as 2022's projects. Whilst collectors are increasingly looking to make their assets strong. We hope to see more independent retailers in '2022 GemGenève," said Harsh Jakhotia of Kunming Diamonds.

While exhibitors were able to concentrate on business with their customers over the four days, a spellbound general public was able to wander among the stands and discover the treasures at GemGenève in a congenial, special setting. Out of the 2,757 visitors, 1,065 came back a second time to visit the show, making a total of around 4,000 visits.

“GemGenève is known for wide variety of jewellery and every brand out there is high end that offers exclusive jewellery. You don’t see low end products. The brands who come there are looking to buy jewellery for multiple projects. Footfalls from the U.S. were low – we did see many regular buyers that we would see in Hong Kong. Predominantly, we saw a lot of European buyers, mainly from Paris, Switzerland and UK,” added Hirani.

No run-of-the-mill stuff

All the major buyers from high-end brands looked for jewellery and gemstones that are out of the ordinary. Emeralds were hot selling. Blue sapphires were in great demand too. Any unusual stone like Paraiba tourmaline, Aquamarine and Alexandrite were also really fast moving. People were looking for something different in terms of make and cut – they didn’t want anything straightforward. In diamonds, old cuts were in demand, and when it comes to colour stones, people were looking for pairs,” added Tank.

“We saw plenty of major brands on the floor. Movement of all kinds of colour gemstones like emerald, ruby and sapphire was strong. We had buyers from Europe, however not many Italians,” said  Karan Rawat of Rawat Jewels LLC, Jaipur.

P Hirani & Co has been participating in GemGenève for three consecutive years. According to Darshit, buyers showed serious commitment towards goods that they enquired about at the show. High-end, off beat fancy colour diamonds did well. “Pink and blue fancy colour diamonds between 1-3ct were highly in demand,” added Hirani.


The next edition of the GemGenève show will take place from 5th to 8th May 2022