Antwerp-cut diamonds will be a major highlight of the Shanghai World Expo 2010, with the Belgian pavilion showcasing the city’s prize diamonds and jewels, alongside other local exports such as chocolate and beer. The expo, which will kick off May 1 and run until October 31, is expected to welcome approximately 80 million visitors. Shanghai 2010 will be the largest world expo to date and marks the first time that diamonds will be sold at the event.
Mickey Weinstock, an Antwerp-based diamond dealer who sells mostly to China, realized that the expo was the perfect venue to promote Antwerp diamonds and convinced the Antwerp World Diamond Centre (AWDC) to seize this opportunity to raise Antwerp’s profile among Chinese consumers.
Weinstock, who was appointed diamond coordinator for the Belgian-European Union (EU) Pavilion by Leo Delcroix, commissioner general of the Belgian government for World Expo Shanghai 2010, said: “The Belgian diamond industry is keen to address the market in China and the expo is an excellent occasion to do so. It is very important that Belgium will be present to showcase its diamonds, as it is a significant local export. Furthermore, out of the 180 countries exhibiting at Shanghai 2010, Belgium will be the only country selling diamonds.”
Raising Antwerp’s Profile in China
China is already the biggest buyer of polished diamonds from Belgium, with $727 million dollars of polished goods exported from Belgium to China and Hong Kong in the first quarter of 2010. With rising prosperity in China, this figure is only expected to grow.
“The International Gemological Institute (IGI), the largest independent laboratory worldwide, is therefore very proud to participate in this great adventure and to certify diamond jewelry pieces exhibited in the pavilion,” said Roland Lorié, chief executive officer (CEO) of IGI. The Antwerp diamond industry hopes that having 50,000 people visit the Belgian pavilion each day will help it compete in the Chinese market.
Weinstock said the Antwerp diamond industry “has a lot of competition, so we must position ourselves to attack in China and win in China.”
The Diamond Exhibition Corner of the Belgian-EU Pavilion will demonstrate the variety, range and history of the industry. The exhibition will display modern jewelry design, including the winning pieces of the 2009 HRD Awards, as well as illustrate Antwerp’s rich diamond heritage, which dates back almost 600 years, by exhibiting priceless antique diamond jewels from the city’s Diamond Museum. Visitors also will be able to see the diamond tennis racket trophy of the European Community (EC) Championship professional tennis tournament, which is made of 1,600 Antwerp-cut diamonds and six kilos of gold. A diamond polisher also will be on hand to demonstrate his skill to visitors.
The five Antwerp-based companies that will be selling HRD-certified diamonds, accompanied by an HRD Jewellery Report, at the pavilion are: S. Muller & Sons, 3D Diamonds, Taché Diamonds, Mickey Weinstock & Co. and Silk Road Diamonds. With setters on-site throughout the expo, customers will be able to immediately mount their purchases in jewelry designed by Wolfers, the jeweler by appointment to the Royal Court of Belgium.
The Diamond GiveAway
In addition to the gems being sold, every week the Diamond Exhibition Corner will be awarding genuine Antwerp diamonds as prizes to lucky visitors who can answer a trivia question on Belgium. The prizes have already sparked interest among the Chinese. “The Belgian consulate is receiving dozens of calls every day, asking whether it is true that we’ll be giving away free diamonds,” said Weinstock. “The Belgian pavilion has already become one of the most anticipated attractions at the expo.”
On June 7, Shanghai 2010 will celebrate Antwerp Diamond Day, an event that will bring key players of the Chinese and Belgian jewelry industries together. Antwerp Diamond Day is part of Antwerp Week, an initiative led by the Governor of the Province of Antwerp Cathy Berx, Antwerp Mayor Patrick Janssen and the Alderman for Diamond Affairs Ludo Van Campenhout. During this week, the AWDC will finalize an agreement with the Shanghai Diamond Exchange (SDE). The joint venture between the two cities will see the Belgians providing business advice in exchange for greater access to the Chinese market.
The Belgian diamond industry has found a new customer in China and it hopes the Shanghai World Expo will help solidify the relationship between the two countries and encourage Chinese consumers to purchase Antwerp-cut goods.
Article from the Rapaport Magazine - May 2010. To subscribe click here.