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Retail Buyers Extra Cautious at IJO Boston

Jul 24, 2014 3:11 PM   By Nirali Sheth
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RAPAPORT... The Independent Jewelers Organization (IJO) show in Boston this week closed with mixed results, but it was especially disappointing for diamond vendors. While the first two days of the show, July 19 and 20,  were fairly busy, jewelers were "being extra-cautious in their holiday buying right now," according to Eli "Stogie Man" Fish, the CEO and president of Philip Wolman. "But stores still recognize our superior quality," he added.

Prior to the show according to a release from IJO, there were 597 registered retailers out of the 850 retail members. There were 185 exhibitors were in attendance. Final attendance numbers were not available at press time. Rajeev Mangalick of Gemco observed that "there was a better attendance of members compared to previous years."

Jeff Pancis of Pancis Gems agreed. "There have been some orders, but a lot of tire-kicking," which was surprising, as IJO is "one of the better shows for us and we are selective about the ones we go to."

Attendance waned dramatically as the show came to a close on July 23, with the last two days of the show being particularly slow for exhibitors and few retailers were in the buying room.

Retail buyers were looking more at color stones, according to Mangalick, and they  planned to order later. "Retailers were asking us for goods that we will ship later on. There's no real manufacturing or creating a product with loose diamonds, but people don't want to carry it home."

The next IJO show will take place in Palm Springs, California in February.

Tags: buyers, colored gemstones, diamonds, ijo, Jewelry, Nirali Sheth, retailers, tradeshow
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