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Press Release: Hong Kong Show Attendance +2%

Mar 11, 2015 8:56 AM   By HKTDC
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Press Release: The world’s largest jewelry marketplace, formed by the Hong Kong International Diamond, Gem & Pearl Show and the Hong Kong International Jewellery Show wrapped up another successful trade show. Under the “Two Shows, Two Venues” arrangement for a second successive year, the two shows welcomed over 76,000 buyers from 140 countries and regions, up 2 percent over last year. Nearly 30,000 buyers visited the Diamond, Gem & Pearl Show at AsiaWorld-Expo (March 2 to 6), while over 46,000 visitors attended the Jewellery Show at the Hong Kong Convention and Exhibition Centre (March 4 to 8). Both events are organized by the Hong Kong Trade Development Council (HKTDC).

“Despite the global economic challenge, the two shows recorded a slight increase in buyer attendance. It is a very encouraging result. Attendance from some traditional markets even recorded double-digit percentage growth, such as the U.S., Italy, the U.K. and Japan. Attendance from certain emerging markets such as Thailand, Israel and South Africa also recorded significant growth, reinforcing Hong Kong’s position as a leading jewelry sourcing hub,” said Benjamin Chau, HKTDC's deputy executive director.

Cautious Optimism

The HKTDC commissioned an independent agency to conduct onsite surveys during the two shows, interviewing 1,206 buyers and exhibitors about their views on market prospects, products and industry trends. The survey found that around 80 percent of buyers expect steady or increased overall sales this year. Over 60 percent of buyers and exhibitors expect retail prices to remain steady in order to remain competitive. Both buyers and exhibitors are optimistic about the growth potential of Hong Kong’s and the Chinese mainland’s jewelry markets, with most buyers and exhibitors considering the Chinese mainland a key market to explore.

In terms of product materials, the majority of buyers and exhibitors interviewed expect karat gold to be the most popular in 2015, including gold-karat white (48 percent), gold-karat yellow (32 percent) and gold-karat rose (33 percent). They also predict that diamonds (50 percent) will be the most popular gemstone this year, and 1 carat (48 percent), round-cut (45 percent) and colorless (41 percent) diamonds will lead the market.

The majority of respondents consider jewelry shows in Hong Kong to be effective. Ninety-one percent of buyers and 93 percent of exhibitors consider Hong Kong’s fairs a major channel to find new suppliers, while 79 percent of exhibitors consider the fairs a key avenue to promote new products.  The majority of respondents said the twin Hong Kong fairs are their must-attend trade show.

U.S., Europe Markets Shine

Buyers from the United States have continued to surge. The U.S. Jewelry Importers and Manufacturers Association had organized 10 jewelry companies to visit the Hong Kong International Diamond, Gem & Pearl Show to buy diamonds and colored stones. The Association’s president, Dagbjorn Johnson, considered the shows well organized and conducive to stone sourcing. Adrienne Dequarto, the director of catalog merchandising of Luxury Brand Holdings, which is also based in the U.S., highlighted that the shows are important because they facilitate sourcing for the upcoming seasons and preview new trends, adding that “we have fixed 50 appointments through HKTDC’s business matching service before coming to the show, and we have already bought samples for all our product lines.”

The purchasing power of the emerging markets should also not be ignored. Ayman  M. N. Al Chaar, the owner of  UAE-based Samer Jewellery, said he had placed onsite orders worth more than $300,000. San Seyho, the director of Cambodia’s Chheng Hak Stone Diamond, noted that Cambodian consumers prefer high-end jewelry set with large diamonds as a sign of their wealth and status. “We hope to find big diamonds, pearls, vintage diamond jewelry and uniquely designed jewelry at the two shows,” he said. “The Hong Kong International Jewellery Show is huge, where buyers can find what they need. We plan to buy $100,000 worth of jewelry at the show to test our market.”

Amid the economic uncertainties in Europe, there were some pleasant surprises at the fair. The Italian Jewellery Silverware and Watch Federation’s CEO, Steven Tranquilli, revealed that the Italian retail market is recovering and consumers are favouring medium- to high-end jewelry items. “The Federation will organize a delegation of about 50 Italian retailers to visit the two shows again next year,” he said.

Springboard To Asia

More than 4,360 exhibitors from 52 countries and regions took part in the two shows, setting a new record and ensuring the event’s continued status as the world’s largest jewelry marketplace. Most exhibitors said Hong Kong’s position as an international jewelry trading hub helps them enter Asian markets.

This year, the Diamond, Gem & Pearl Show introduced the new “Treasures of Ocean” zone to showcase exquisite pearls. Many exhibitors revealed that Chinese mainland buyers had a strong demand for high-quality pearls. Jose Casares, the director of Switzerland’s Shanghai Gems S.A, a pearl wholesaler, said Chinese mainland customers were particularly interested in natural, top-grade pearls and this will help his company’s growth in the Chinese mainland market.

Alain Boite, the president of Alain Boite S.A.S. from France, is also optimistic about Asia’s emerging markets and is eager to reach international buyers through the shows. “We’ve achieved good business at the shows this year. Many customers approached us to buy all sorts of pearls in different sizes. We’ve met some new buyers from the Chinese mainland, Hong Kong and Indonesia as well, and their demand for gold pearls is especially strong,” he said.

Japan’s JETRO also gathered nearly 100 Japanese companies to exhibit at the Hong Kong International Diamond, Gem & Pearl Show. The president of Japan Pearl Exporters, Yoshihiro Shimizu, was particularly complimentary about the show’s good traffic and active trades.

In addition to pearls at the Australia pavilion, its opals were also very well received. Andrew Cody, the director of Australia’s Cody Opal (Australia) Pty. Ltd. and head of the 11-company-strong delegation from Australia, said, “The buyers’ feedback was 50 percent above our expectations. There's a strong demand particularly for black opals because of their rarity. We’ve met many Chinese mainland customers who are looking for high-end loose opals and we’ve successfully closed deals with them.”

First-time British exhibitor Moira Fine Jewellery had a booth at the Jewellery Show’s Hall of Extraordinary and Antique & Vintage Jewellery Galleria. The company’s owner, Suzanne Lauder, said European jewelry sales have slowed  in recent years, but the show can help her company reach more international buyers and discover Chinese mainland clients.

Hong Kong’s exhibitors have also benefited from the rise in buyers. Cherry Chong, the manager of diamond and jewelry retailer Lili Jewelry Limited, said the company’s handmade jewelry is rare in the market. Their works have been very well received by European and Indian buyers and some even placed their orders on site, she said.

About the HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organizes trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com.


Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.

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Tags: exhibitors, HKTDC, Hong Kong, marketing, news, trade show
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