This article first appeared in the JNA November/December 2024 issue.

An increase in international buyer turnout alongside innovative features and vast sourcing and networking opportunities were the highlights of Jewellery & Gem WORLD Hong Kong (JGW) 2024.

More than 3,300 companies from over 40 countries and regions showcased their latest products and services at AsiaWorld-Expo (AWE), which hosted the jewellery materials section from September 16 to 20, and the Hong Kong Convention & Exhibition Centre (HKCEC), which displayed finished jewellery, packaging and technology solutions from September 18 to 22.

Organised by Informa Markets Jewellery, the fair welcomed 50,232 unique buyers representing 142 countries and regions, reflecting a rise in visitor attendance from South America (+19.9 per cent), the Middle East (+18.3 per cent), North America (+7.5 per cent) and Europe (+4.7 per cent). “Unique” visitors are only counted once regardless of how many times they visited JGW.

A slight drop in Chinese visitors was observed nonetheless, partly attributed to JGW coinciding with the Mid-Autumn Festival and a tropical cyclone that hit Shanghai on JGW opening day.

International buyers drove 67.85 per cent of total attendance, underscoring the B2B show’s global standing as the top sourcing destination for jewellery, gems and other industry-related products.

Set against the backdrop of economic uncertainties, JGW’s 41st edition highlighted the resilience of the jewellery community, said Celine Lau, director of Jewellery Fairs at Informa Markets Jewellery.

“Macroeconomic challenges aside, firm order-taking was underway on the show floor. Buyers are naturally cautious and guarded, placing a strong emphasis on inventory that they can swiftly sell. Meanwhile, suppliers are expanding their customer base, focusing on long-term strategic planning,” Lau continued. “It is precisely for these reasons – the importance of being in the know – that JGW is the definitive global destination for all things jewellery.”

Resilient business

Majority of exhibitors interviewed by JNA said there were fewer visitors from China compared to previous years, but this was offset by an increase in buyers from other countries, specifically Southeast Asia.

Interestingly, vendors likewise entertained enquiries from US and European buyers who were not as active in attending Hong Kong shows as before.

Mukesh Dholakiya, director of diamond manufacturer HK Impex Pvt Ltd, said he met clients from Australia, the Philippines and Indonesia despite the lack of Chinese customers at this year's show.

“We managed to get orders from buyers from these countries, so the show was positive in that sense, but footfall was less than expected. Our expectations were rather low due to current market conditions,” noted Dholakiya.

George Kakuda, CEO of Kakuda Pearl Co Ltd and president of Japan Pearl Exporters’ Association, also attested to the show increasingly becoming more global in nature, with the absence of Chinese buyers.

“We were quite satisfied with the turnout and business prospects at the show,” revealed Kakuda. “Japanese pearl companies met serious buyers, not just from China but also from Europe, the US and India. The last two years saw mostly Chinese buyers interested in pearls. This time around, demand was much more international.”

Indian clients, for instance, used to buy mostly lower-quality Japanese Akoya pearls. At JGW 2024, however, Indian customers were willing to pay US$2,500 for one line of 8.5mm pearls, “which is quite expensive for that range,” noted Kakuda.

Serious buyers

Vibhor Agarwal of AVYK Diamonds Co Ltd said traffic was generally slow, but his company came across buyers from Italy, Germany, Spain and the UK. AVYK Diamonds’ main markets are the US, Europe and Southeast Asia.

“It was a different experience for every company,” noted Agarwal. “We entertained quality buyers who were mainly looking for coloured gemstones more than diamonds. We offer top-quality rubies, sapphires and Colombian emeralds.”

He also said demand for premium products is likely to remain steady throughout the remainder of the year amid wars, macroeconomic uncertainty and political instability.

Paul Chieveley-Williams, founder and owner of Diamwill, also commented on the quality of buyers at the show. “There were fewer customers onsite but the ones who came were serious buyers,” he remarked.

Trends

Zaheer Ansari, director of Zals Ltd, for his part, observed steady demand for fine gems amid rising prices since these gems are viewed as valuable investments.

At the show, Zals Ltd presented a range of exquisite Paraiba tourmalines from Brazil. Ansari said he met new clients from China, Europe and the Middle East. The company’s traditional markets are Japan and the US.

Meanwhile, Martin Hau, CEO of Ouqi Jewelry Co Ltd, noticed rising interest in jewellery pieces adorned with a mix of fancy colour and fancy shaped diamonds. “This design is becoming increasingly popular in the market,” remarked Hau. “We specialise in high-quality coloured gemstone and fancy colour diamond jewellery. Our clients are from China, the US and the Middle East.” Buyers also tend to gravitate towards more affordable products or items with distinctive designs, he added.

Akhit Agrawal of Gem Centre witnessed the market’s preference for lower-priced items, adding that there was minimal interest in fine-quality rubies, sapphires and emeralds at the show since customers were still not willing to pay current prices.

“The Chinese market, which initially drove prices up for fine-quality goods, has slowed down significantly. Hopefully there will be a price correction,” he noted.

Buyers who visited Gem Centre’s booth mainly asked for calibrated sizes, with 5mm to 3mm, and 10mm by 8mm being sought after, with a preferred price point of US$50 to US$500 per carat. Gems that are priced over US$1,000 to US$10,000 a carat are harder to sell, added Agrawal.

Gary Karabulut, senior sales manager of Türkiye-based gold chain specialist Mioro, likewise observed changes in consumer preferences. He met with existing clients mostly from Singapore, Malaysia and the Philippines at JGW.

“Market demand is a bit muted,” he disclosed. “Those who dropped by our booth checked out our new collections and asked for quotations. Hopefully, they place orders after the show.”

What is currently selling are electroformed jewellery pieces since those are lighter in weight and use less gold, added Karabulut. These are favoured by clients from France.

Professional trade buyers also had a positive sourcing experience at JGW 2024.

Ayrton Gianotti of Constantini Joias, São Jose do Rio Preto, Brazil, attended the fair for the first time. “I was extremely satisfied with my decision to come. Despite the distance and the time zone difference, which took a toll and required at least two days to adjust, the experience was worth it. I found several suppliers and unique jewellery pieces,” explained Gianotti.

Cindy Zhang, CEO of Diamond Service Center of Taiwan, commented, “JGW showcases a wide range of products and services. I was most impressed by a smart gold recycling machine offered at the show, which would support our commercial objectives and sustainability goals.”

Special features

JGW also advanced the sustainability conversation by honouring winners of the Sustainability Awards 2024 by JWA (Jewellery World Awards) on September 18.

Organised by Informa Markets Jewellery, the Awards programme paid tribute to exceptional sustainability initiatives within the fine jewellery, gemstone and related sectors. The Awards covered five categories, namely Environmental Stewardship, Social Empowerment, Manufacturing Innovation, Community Engagement and Sustainability Leadership.

JGW likewise celebrated the beloved pearl with the exhibit, “Orient Odyssey: From Shell To Market – The Fascinating Life Of Pearls.”

JGW 2025 will be held from September 15 to 19 at the AWE and from September 17 to 21 at the HKCEC.