The Hong Kong shows: Attendance up, but mixed results reported
by jacquie_dealmeida | April 7, 2016 11:19 am
By Cynthia Unninayar
Notwithstanding global events and the current downturn in the luxury market, the 33rd edition of the Hong Kong International Jewellery Show and the third edition of the Hong Kong International Diamond, Gem & Pearl Show concluded with a combined attendance increase of 5.4 per cent over last year.
This past March, more than 80,000 buyers from 147 countries and regions gathered in Hong Kong for the twin gem and jewellery shows to see the products of some 4380 exhibitors from 54 nations, making this the largest jewellery marketplace in the world.
“Despite global economic challenges, the two shows continued to attract local and overseas buyers,” said Benjamin Chau, deputy executive director of the Hong Kong Trade Development Council (HKTDC), organizer of the events. “This demonstrates the international significance of the two shows.
Held at the Hong Kong Convention and Exhibition Centre Now and now in its 33rd year, the jewellery show attracted more than 49,000 buyers who came to check out the wide variety of products offered by 2500 exhibitors from around the world, including major pavilions for Japan, Italy, Thailand, and the United States. Located near the airport, AsiaWorld-Expo welcomed 31,000 buyers who came to see the gems offered by some 1886 exhibitors at the Diamond, Gem & Pearl Show. The majority of attendees and exhibitors at both shows were from overseas, demonstrating Hong Kong’s position as a global meeting point for the gem and jewellery sector.
While visitor traffic was up, reactions from exhibitors and buyers were mixed. Overall, exhibitors seemed satisfied, either with sales or new contacts, although others complained the show was a bit slow, as to be expected in light of attendance at other trade fairs this winter and spring. Reema Keswani, owner of New York-based Golconda, a long-term and regular buyer to the show, summed it up, “The Hong Kong show was a reflection of the world markets struggling to find some clarity for the rest of the year ahead. That being said, there were some irresistible opportunities for those who take a long-term view of the business.”
The gems
Opening two days earlier than the jewellery event, the Diamond, Gem & Pearl Show featured a vast assortment of products. Diamonds occupied a large portion of the show with Antwerp and Israel hosting the largest pavilions, followed by other national groups.
Anecdotally, the busiest booths seemed to be those selling natural fancy colour diamonds. Following better-than-expected holiday sales in North America and despite continued sluggish demand in Asia, coloured diamonds have demonstrated relative stability, with overall prices holding their own or up slightly, according to a number of dealers. Yellow diamonds were the best performers followed by blue and pink. In addition to coloured and white diamonds, customers were interested in sliced, ice, and milky diamonds, said Sandeep Jain, owner of Thailand-based Deep Impex, who expressed satisfaction with the fair.
Optimistic for diamond sales in 2016, Eli Avidar, managing director of the Israel Diamond Institute (IDI), said Hong Kong is Israel’s second largest market for polished diamonds, representing nearly 30 per cent of total polished exports.
Joining the 800 booths in the coloured stone section was a special tanzanite pavilion sponsored by the Tanzanite Foundation. Among the exhibitors specializing in tanzanite was U.S.-based AG Color. Company president Hemant Phophaliya indicated sales were satisfactory, given the current economic climate, adding the brand focused on American buyers at the show.
Elsewhere, every conceivable stone and pearl imaginable could be found from alexandrite to zircon, along with more uncommon gems, such as blue amber, fossilized opal, and unusual dendritic agate. Paraiba tourmaline was a standout, with its neon-blue colour a favourite of many buyers. “Everyone is asking for Paraiba,” said Germany-based Constantin Wild, adding buyers from China and the United States were particularly looking for the blue gem. Wild also offered green sphene, which he calls “a sparkling miracle of colour that is iridescent in yellow and green when seen from different angles.”
Still in the green theme, Hong Kong firm Olynthos filled its showcases with attractive chrysoprase and imperial chrysoprase in rough, faceted, and bead forms. Also seeing a good response to green stones—this time prasiolite and mint-green dendritic agates—was Clement Sabbagh of Brazil-based Sabbagh Bros. “We have also been doing well with Madeira citrine and morganite,” he said. “Chinese buyers seem to appreciate these colours, too.” As for prices, Sabbagh noted the downward trend, especially for tourmaline. Green cats-eyes were on the menu—along with some unusual aquamarine and beryl cats-eyes—at Brazil-based Tavares Gems. Osorio Tavares reported demand for the larger stones was slow, but that small and medium-size gems (up to 10 carats) were selling better.
Rahul Jain of Germany-based Caram welcomed a number of Chinese customers who were interested in his Sri Lankan sapphires, adding prices still are a bit soft. Also specializing in Sri Lankan sapphires was Regal Gems. Altaf Iqbal, owner of the Sri Lanka-based dealer, indicated prices for sapphires continue to fluctuate, although important stones still command decent prices.
Neil Kandira of Japan-based Anjali Jewels indicated that while prices are soft for many gems, including tourmaline, they were holding fairly steady for Burmese goods, especially ruby. “We are also seeing a lot of interest in our fossilized opals,” he remarked, adding they saw less buyers from China and the United State, but more from the general Asian region.
A new exhibitor was Aminco Gems, a subsidiary of the Nigerian enterprise A.A.Y. International Mining Co., which offered a selection of unusual blue tourmaline, as well as rubellite, among other gems. “The blue and pink tourmalines attracted a lot of attention from buyers around the world,” said Zoe Michelou, the company’s marketing manager.
The jewels
As usual, the range of jewellery at the convention centre location was vast, ranging from inexpensive crystal-set pieces to everyday wearable jewellery to multi-million dollar luxury jewels, as well as packaging, accessories, and watches. Composed of eight themed halls, the jewellery show added a new section, Wedding Bijoux, featuring bridal pieces from around the world. A special machinery section was also welcomed this year.
The Designer Galleria showcased a number of rising stars as well as some smaller, though nonetheless popular brands. The creative Hong Kong-based brand Green G continued along its path of colourful nature-inspired jewels, while Korea-based Gina displayed jewellery made from actual flowers and leaves. May Jewelry from Japan offered several delightful carved gemstone perfume bottle pendants. Noted French designer Isabelle Langlois was present with her colourful gemstone jewels, while Japanese creator, Jurio Fujita, dazzled with his golden nails and basket rings.
Among the most unusual creations were the insects made by Japan-based Jizai/Kodama. These amazing little creatures with fully articulated legs and wings are crafted in gold and diamonds, and take at least six months each to complete. Treading into the world of accessories, Anita So of Hong Kong-based Osatina created eyewear and watches using jade and diamonds.
Many internationally known brands set up shop in the Hall of Extraordinary and Hall of Fame. Among them was Thailand brand, Zorab, and its bold and colourful fine jewellery. India-based Bapalal Keshavlal presented its customary high jewellery in diamonds and emeralds or rubies. Also featuring high jewellery was Hong Kong brand, Belford, whose Paraiba pieces were remarkable. A relative newcomer, Russia-based Mousson Atelier presented a variety of bold, sculptural statement pieces, while another recent brand attracting attention with its design-focused pieces was Mokoso Atelier, located in Thailand.
The next HKTDC twin gem and jewellery fairs will be held in March 2017, with exact dates to be announced later this year.
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