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This is the 16th blood donation drive organized by Joyalukkas Group in the UAE, and was attended by employees from around the Emirates.

Post By : IJ News Service On 07 April 2011 6:02 PM
The 2005 {{Hong Kong Jewellery & Watch Fair}} held from September 21 to 25 at the Hong Kong Convention and Exhibition Centre has been a big hit for many exhibitors especially from India. It witnessed strong trading activity with good overall demand for diamonds especially larger stones and larger cents. Excellent makes and over-sizes brought in more premium. %% The demand for small sizes, hit by rising prices, squeezing margins and declining supply, had left the market in the lurch. Rough speculation eased for smaller goods after DTC's large Sight of approximately $800 million. But prices for large size rough remains speculatively high. This did not hinder movement of big sizes at the Hong Kong Show.
Indian exhibitors and buyers swept the show this year. More than 70% of the buyers were from India. Most retailers from India visited the Show, making purchases which sounded alarm bells for the dealers/middlemen who usually providing the products for retailers. %% Buyer traffic were good throughout the first three days of the show although exhibitors were expressing concern over buying levels due to price increases. The largest overseas buyer was the United States followed by Taiwan, Australia, Japan, India, Indonesia, Thailand and Philippines. Wide spectrum of gemstone products from mines and suppliers all over the world, including producing countries Brazil, Sri Lanka, Australia, Myanmar, Mainland China and Polishing Centres of Thailand, Germany, Israel, and India, makes the September fair the biggest precious trade event in Asia. %% Green gemstones including emerald, peridot and the like saw a lot of sales. Most of the exhibitors are regular at Hong Kong, now being claimed as one of the biggest trading hubs in the world for the jewellery industry.%% With over 1,950 companies from 45 countries attending, the 2005 Show is estimated to be the largest in its 23 year old history.%% Space limitations at the Fair have kept potential exhibitors on the waiting list and those wanting to expand their booths are unable to do so. This has disabled the Hong Kong Fair to fully reflect actual current market position. There were more than 7,000 buyers pre-registered apart from the regular buyers. There were more than 200 members of the jewellery industry from Asia participating this year and about 41 diamond manufacturers and exporters who formed the Israel pavilion. %% Friday afternoon (September 23) saw a typhoon warning over Hong Kong, which fortunately dissipated to a low level wind. As the show drew to a close, most exhibitors were pleased with the outcome and all are expected to be returning in 2006.
A number of Seminars were held by the {{Gemological Institute of America (GIA)}}, the {{Gemmological Association of Great Britain, Signity, DTC, HRD/Antwerp World Diamond Centre, JIE}}, the {{Gemmological Association of Hong Kong (GAHK)}} and the Council for Responsible Jewellery Practices. These seminars focussed on a wide spectrum of topical issues and provide up-to-date market trends in jewellery designing.%% Besides this, receptions were held by {{CMP Asia}}, the organizers of the show and {{HRD/ Antwerp World Diamond Centre Belgium}}. A Gala Evening 2005 was held on September 22 at the Grand Ballroom of Grand Hyaat Hotel by {{Hong Kong Jewellery & Jade Manufacturers' Association and Hong Kong Jewelry Manufacturers' Association}}.
Significant Growth:
The Greater China diamond jewellery market has grown significantly. In China, diamond jewellery sales were up by over 11% in 2004, the strongest growth seen in the past decade amid strong competition from housing, automobile and travel industries. Hong Kong and Taiwan also saw growth of 6-10%. %% The DTC has stated that it will invest US$9 million in marketing promotions in Greater China, is continuing this year to provide diamond education, create consumer desires and ensure the integrity of the whole industry. %% At the Fair, DTC also presented a collection of 17 award-winning pieces of diamond jewellery from "Diamonds: Nature's Miracle", an international design competition held by the company last year. Worth over HK$80 million and featuring 1,200 carats of sparkling diamonds, the collection was designed to bring out the mysterious charm of diamonds.%% 'It is More Like Selling Paper than Diamonds' !
{{TACHE Diamonds}}, India, dealing in loose diamonds, is part of the {{Tache Allaince Group}}. It obtains its rough from DTC, Alrosa and other markets which are cut and polished at Tache Diamonds. It has 12 factories around the globe, including the largest ideal-cut factory in the world. Tache being a DTC Sightholder, there has been no dearth for roughs. But the frequent rise in prices at the beginning of the year did affect consumer expectations. "Prices are more stable now and the buyer is conscious that goods are available in the market. But the prices are restricted on the consumer front, so margins are squeezed," said {{Bablu Hirawat}}, Managing Director of Tache Diamonds, India, who had a stall at the Hong Kong Show.
More Indian Goods in the Market:
Elaborating further on DTC, he said, "Indian goods have got more presence with DTC adding more Sightholders from India. The business has become easy but there is a lot of competition," he added. Tache too has more than one Sight of DTC. %% The pace is good at the show. "The demand is more for over 2 carats in VS2 and better qualities. But whatever the diamonds, GIA-certified diamonds are doing better. It is more like selling paper rather than diamonds. Diamonds in the M to G color are also doing well," he said.
Retailers Coming Forward:
One noticeable change that many observed is the coming forward of retailers. "Many Indian retailers are here for buying goods. They have started visiting international shows directly rather than usual practice of sending their representatives or middlemen. This would affect the middlemen to a certain extent," Bablu shared his views.
US, UK Prefer White Gold:
The last five years Shrenuj & Co. Ltd. has been a regular participant at the Hong Kong Jewellery Show. "It gives us an opportunity to display our new line of jewellery collections to our clients who are mainly Europeans, Australians and Americans," said Devang Tanna, Manager Sales and Marketing at Shrenuj & Co. Ltd. %% "All our jewellery in the range of US$30 to $1,000 is manufactured at our factories in India. We make diamond jewellery in gold and platinum. The US and the UK market prefer white gold while more of mix tone works better in Europe. Over 55% of our sales are in the European market. *****. We outsource 60% of our diamond requirements and the rest is fulfilled by our in-house production. Our jewellery exports have crossed $28 million per annum," said Devang at the Hong Kong Show.%% Talking about the Show he said: "This is a good Show and the response is good. Classic jewellery has always done well." Shrenuj is one of the few Indian companies to get listed and also be a DTC sightholder. They have around 20,000 shareholders registering an annual growth of around 25%. In keeping with their credit policies the company has no bad debts. Its repayment policy provides 15 days or COD for the European market and 30-90 days credit period in the US.
Green is the Color of the Season:
"Green is the color of this season," says {{Gerhard Schreiner}} of Schreiner Jewellery, Munich. Emerald, peridot, sapphires and lots of big size diamonds," that's what the whole show is about, added Schreiner, who has been participating in the Hong Kong show for the last 16 years. The company also participates in other international shows. %% Reflecting on the growing diamond markets of India and China, he said that there is problem these days with the supply of diamonds, since India and China have increased their diamond jewellery manufacturing. It's a problem to get rough diamonds.%% "There is a lot of demand for big sets. We are manufacturing very fine quality using top quality gemstones and diamonds. The top quality product has its own price so the diamond price hike does not affect our sales," he added.
China has Great Potential:
The {{China Diamond Corporation Ltd}}. is China's largest diamond producer. It is a junior resource company engaged in mining diamonds and the exploration and advancement of diamond and gold prospects. China Diamond Corp. controls four mining properties in the People's Republic of China. "We deal in one point to one carat diamonds and get them processed mainly in Southeast Asia and India too. For the last three years we have been manufacturing in China. Most of our rough supplies are through Diamdel.
"China has great potential and is an upcoming market while Hong Kong has emerged as a big trading centre that feeds China. The business is consolidating now," {{Darshan Bhagat}} of China Diamond Corporation Ltd observed. %% The Chinese are artistic people by nature and the manufacturing of diamond is an art too. "We prefer China as it has better manufacturing facilities. No doubt manufacturing in India is much cheaper when compared but labour in China is more efficient and cost effective", he said.%% "The Hong Kong Show is active and there is a lot of movement in one carat and above. There is also movement in the 50 to 70 pointers and also in the 10 pointers and below. Major buyers are from India and Japan," he added.%% There are many new players at the Show and "yes, there is need for young blood to take the industry forward".
Not Much interest in Small Sizes:
{{Sachiv Mehta}} of Super Gems N.V. too said that 50 points and 3ct and up had a good demand at the Hong Kong show. On the whole "the show was very good. Emeralds cut, princess and pears shape are moving well. But solitaires have been hit. It also depends on the color. If it is of better color then people go for the heart shape. I doubt there is much interest in small sizes. It is more of VVS and VS, good finish and purity.%% "The price hardly matters as 80% of buyers are accepting the price. As far as manufacturers in China are concerned it all depends on sourcing of rough and we have better sources and at good price. About 70% of the total sales are to Indian buyers. We also get buyers from the Far East," concluded Sachiv.
DTC to Invest $9m in Greater China:
'Consumer confidence is key to Greater China's continuing diamond growth', says the {{Diamond Trading Company (DTC)}}. It proposes to invest US$ 9 million in the region. DTC Consumer Confidence Forum 2005, was held in the Hong Kong Jewellery & Watch Fair on September 22. The forum, initiated by the DTC to demonstrate its commitment to and its confidence in its Sightholders and the enormous potential it sees in the Greater China market.%% The forum featured leaders from the Greater China diamond industry and representatives of international laboratories and associations on their best practices to safeguard and enhance consumer confidence in the diamond industry. %% {{Christina Hudson}}, Marketing Director for Greater China, DTC Asia-Pacific, said: "The diamond industry in Greater China continues to offer strong opportunities for growth. Consumer Confidence is key to realizing this potential as we truly believe that integrity, values and commercial worth of diamonds depend on the absolute trust and goodwill of consumers."

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