Fair Games

The latest trends, market happenings and just how much India is shining. Anita Khatri and Shabana Patker analyse premiere jewellery trade fairs IIJS and JCK.

Overview
Not resting on its laurels, the already successful JCK Show - Las Vegas, remained steadfast with its commitment to provide total satisfaction for customers and the industry at the 2004 Show. Held at the Sands Expo & Convention Centre JCK - Las Vegas featured everything from a dynamic complimentary educational programme, engaging networking events to a comprehensive display of the industry’s products and services in a variety of pavilions and exhibits - providing jewellery professionals with a ‘one-stop-shop’ for all of their business needs. The show’s popularity was reflected in the crowds that flocked there, visiting over 20,000 stalls and rubbing elbows with some of the most important and respected individuals in the global gemstone and jewellery industry.

What’s New
This year’s show had added attractions. In addition to the burgeoning business opportunities there were dynamic roundtable lunches where suppliers, buyers, traders and visitors could further interact. Seating was on a first-come-first-serve basis for 150 people at a time. The keynote address was given by Ivana Trump whose speech drew so many listeners that there was a stand only room. She spoke about the things she knows best - luxury and entrepreneurship. She covered 10 points for living the life of luxury, as well as her insights into finding success in the ever-evolving online accessories market. The JCK Show also had educational programmes, workshops and a grand welcome dinner.

India Shining
Apart from over 250 exhibitors India truly shone at JCK forcing the world to sit up and take notice. According to Mr Ashok Gajera, Partner, Laxmi Diamonds, “India controls 80 percent of the jewellery trade worldwide. Nine out of 10 diamonds are cut and polished in India. In ‘01-‘02 the revenue generated by India in the cut and polished diamonds market was Rs 2,834.49 crores. This figure has risen steadily touching Rs 3,4297.89 crores in ‘02-’03 and currently stands at Rs 3,9545.92 crores in ‘03-‘04.” In the jewellery segment India has generated Rs. 5,538.14 crores in ‘01-‘02, Rs 7,258.64 crores in ‘02-’03 and currently stands at Rs. 11,641.07 crores in ‘03-‘04. Nirupa Bhatt, Country Head, Rio Tinto Diamonds says, “India is the world’s largest centre for cutting and polishing diamonds. In the jewellery sector India has substantial potential for growth especially with the marketing capabilities of the country.” Colin P. Shah Managing Director, Kama Jewellery agrees, “India is the largest player in the diamond market today. There is always potential to grow with all the industries and factories being set up here. India is responsible for eight billion dollars worth of exports in loose diamonds. Jewellery exports in the last decade have amounted to one and a half billion dollars.”

Spotted There
At JCK, Anita Khatri rubbed elbows with a few so far unknown industry participants. Mr David Knies, Vice President Marketing, Hearts on Fire, understands the need to shift from perceiving loose diamonds as a commodity and positioning them as a brand. They sell loose branded diamonds to the likes of Damiani and opine that they would like to eventually be to this industry what Starbucks is to coffee. As of now they retail in 16 countries around the world and have been in the industry for seven years. She also met Mr Sandeep Rawat from Heritage Gems L.L.C., a 13th generation jeweller from Jaipur. He has exhibited at The JCK Show for the past six years and creates fine jewellery with unusual cuts.

Emerging Trends
Though JCK is a trade fair that mainly caters to the networking and business aspect of the industry, a few trends did emerge and catch the industry’s fancy. According to Nirupa Bhatt, Country Head, Rio Tinto Diamonds, “Coloured stones and coloured diamonds are a big trend. Pink and champagne are very popular colours and the diamonds are set in combination with white diamonds.” Sterling silver replacing the traditional white gold and platinum as the new metal to set diamonds in was also an emerging trend.

What Next?
We look forward to all the future JCK shows especially JCK Las Vegas 2005.

IIJS 2004, Mumbai