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RAPAPORT... Exhibitors at the first Antwerp Diamond Trade Fair this week were pleased with the new initiative, but only reported average sales at the event. “I don’t think much business was done but the quality of people invited was good and people were happy to be approached to participate in the show,” said Daniel van Dievoet, a director at Beladamas N.V., which manufactures round stones in sizes up to 5 carats.
Others agreed adding that the Antwerp fair gave them a chance to network rather than sell. “The fair took place Monday through Tuesday (February 7-9) at the Antwerp Diamond Bourse (Beurs voor Diamanthandel) with approximately 40 diamond companies exhibiting.
The invitation-only format focused upon bringing jewelry retailers to Antwerp to view the goods, which some explained lowered their expectations for high volume sales. “Jewelers generally don’t buy large volumes,” said one company representative, who requested to remain anonymous. “We expected it to be more of a networking event.”
Adding to the networking aspect of the event, another manufacturer, who asked for anonymity, noted that many of the sales made would have come to fruition anyway, but the fair did allow them to deal directly with the jeweler. “It cut out the middle-man importer and allows us to maybe charge an extra 2 or 3 percent,” he said. “But it’s the same sale we would have made otherwise.”
The format reportedly drew criticism from those importers who claimed unfair competition, which one manufacturer refuted pointing to other similar fairs that take place across Europe. He added that the fair was important for Antwerp and the bourse in that it brought buyers to the city.
It also saved on the expense of having to travel to other shows. “There was a good quality of visitors at the fair and we would rather spend the money on Antwerp to attract buyers here and give a better service here than spend it on travel and hotels at shows abroad,” van Dievoet said.
All manufacturers who spoke with Rapaport News agreed that it was difficult to assess demand trends from the fair since each jeweler came with different specifications for goods.
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