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RAPAPORT... Initial comments on loose diamond trading during the 2007 JCK Las Vegas show determined that activity was slightly slower than 2006, despite the weak dollar boosting sales for European traders.
"Loose trading was weak and buyers were seeking larger, fine quality goods at the 2007 show," said one industry observer.
Smaller diamond merchants said they were extremely concerned about market conditions in the United States, while feedback from mid-sized and larger firms was also pessimistic although they reported that larger goods continue to experience strong demand. Many larger firms reported to be concentrating their efforts on marketing partnerships to increase brand awareness.
The JCK show, which is the largest jewelry fair in North America, kicked off June 1, 2007, and continues through June 5, attracting some 21,000 retailers and 3,400 exhibitors from more than 70 countries.
Feedback from the exhibit hall showed positive results and strong sales for some of the newly launched jewelry collections, among them ZaleMark's Demeter Rachel Hunter line and Cadeaux's the Luxury Gift Collection.
The NakedWatch Company launched its new female watch model Tori while HourPower Watches took advantage of the show to promote its Father's Day Personalized Gift Watches for men.
Moving away from the product lines, other companies launched new business solutions at JCK. Among these, EGL USA announced its new evaluation document, the 360º Diamond Report service.
GemFind.net launched its first ever e-commerce site for consumers on behalf of fine retail jewelers, manufacturers, diamond purveyors and watch distributors. The online business to business network also revealed its latest marketing tool GF Access desktop software which, patent pending, will include features such as an industry directory, diamond database and finished jewelry search engine.
Also promoting a new e-commerce solution, EyeOnJewels Corp. launched its JewelDemo which the company stated would provide a new way of conducting online commerce to retailers, designers, manufacturers, wholesalers, appraisers and repair establishments. The patent-pending Visional Commerce technology in JewelDemo adds real-time, interactive video technology to e-commerce, EyeOnJewels announced.
In the days leading up to JCK Vegas, Luxury by JCK and its new Premier exhibitor section concluded on a high note. Those participating in Premier in particular enjoyed the more intimate setting to meet with clients and conduct business.
Premiere attracted an additional 61 high-end manufacturers and 100 hosted retailers to the ballrooms of the Venetian Hotel Resort Casino alongside the Luxury event, which ran for its eighth year.
For both the Premiere and Luxury, brands indicated that orders were up or at least met similar targets to 2006.
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