The Israeli diamond industry is participating at this year’s Hong Kong International Jewellery Show, with the maximum number of participants so far at a HK Show. There would be 61 Israeli diamond manufacturers and exporters exhibiting at the event, of which, 41 will be harboured at the Israel Diamond Pavilion, organised by the Israel Diamond Institute Group of Companies (IDI). The HK March Show is being looked upon as the best opportunity, a gateway for the IDI to further its intent of expanding into Asian jewellery markets. %% IDI Chairman Moti Ganz said that now more than ever, Hong Kong, as the gateway to the Far East, is a major focus for the Israeli Diamond Industry. “For years we have looked to the Far East as a huge growth market for Israeli diamonds. Our industry, which is known for its flexibility and adaptability, is seeking now especially to expand its efforts in these markets. IDI is working hand in hand with the industry to promote these efforts,” he said.%% Most of the Israeli companies participating are refocusing their marketing efforts, offering different and lower priced goods than before. Elona Bilet, Marketing Director of Trapz says that the company will offer smaller pairs – called the Mini Trapz Collection –which “offers the same unique look of trapezoid side stones but smaller and at a much more affordable price.” She added that Trapz will also be focusing on lines of radiants, cushions and emerald cuts in smaller sizes for eternity bands, bracelets and necklaces. “We expect these to sell well. We assume customers are looking for alternatives to larger stones and will be looking for multiple stone layouts that have the same big look but at a much cheaper price.” Then there are first time participants to the show like Isaac Badra, Sales Manager of veteran fancy shape manufacturer, Vulcan & Co. Badra’s company if offering the goods at cheaper prices owing to the economic slowdown, adding that “The price list and the market have both dictated that diamond prices are down. We have to adapt ourselves to the market”. %% The participants have prepared for their exhibits with lowered expectations for the show yet being cautiously optimistic. Bilet says that they have set up appointments with existing clients but hope to meet new buyers from Asia and Australia. Eran Ben Yehuda, Marketing Manager of fancy manufacturer Dani Avlas Diamonds, is looking forward to atleast cover their expenses. “We’ve informed all of our regular clients in Asia, as well as in Europe and the U.S. that we’ll be at the show. We hope to see them and to meet new clients – especially from new markets,” he said. Badra says that he has spoken to clients and they will be at the show. “We know they’ll come to see us but we don’t know how much they’ll buy. I don’t have any expectations, but I’m optimistic and hoping for the best,” he said. %% IDI Managing Director Eli Avidar said that he was very optimistic about the medium and long term prospects for Asian markets. “China has evolved into an independent market for luxury goods and jewellery, with a great amount of wealth being created. In the coming years we believe that China will become an important consumer of polished diamonds, and we are focusing our marketing strategy on developing this market.” %% According to Avidar, IDI’s representative office in Hong Kong was spearheading efforts to enhance trade contacts with the region. In addition, he noted that IDI’s Chinese-language portal site has become an important vehicle for facilitating direct contacts between these countries. An online mini-site has been created on the IDI portal, where buyers can visit the pavilion virtually before the fair and obtain the contact details of all Israeli exhibitors. Considring this to be the largest Israeli Diamond delegation to the HK March Show - IDI will be holding a festive cocktail reception on March 6. The HK Show will take place from March 4 -8, 2009