Results were better than expected at the recently concluded Jewellery & Gem WORLD Hong Kong (JGW), with companies maintaining an upbeat outlook for market recovery. 

JGW 2023 – the show’s 40th edition – featured 3,417 exhibitors from 44 countries and regions and attracted 53,879 buyers from 142 countries and regions, which was on a par with 2018 figures. Some major Asian markets saw a notable increase in visitor numbers, including Indonesia, Thailand and the Philippines.

Attendance from Europe and the Americas were below 2018 numbers. This was partly due to the ongoing recovery of airline capacity that has yet to be fully restored, according to show organiser Informa Markets Jewellery. 
 
In 2024, JGW’s jewellery materials section will be held from September 16 to 20 at the AsiaWorld-Expo (AWE) and from September 18 to 22 at the Hong Kong Convention & Exhibition Center, which will house finished jewellery exhibitors as well as technology and jewellery manufacturing solutions.

Onsite optimism

According to Damien Cody, president of the International Colored Gemstone Association (ICA) and executive director of Cody Opal Australia Pty Ltd, buyers were keen on sourcing gemstones at AWE. 

“Looking at the first three days at AWE, the crowds were very good,” noted Cody. “There was obviously a lot of pent-up demand from customers looking to buy. They were looking to source their coloured gemstones.”

Cody also said company inventories will have to be restocked eventually. “You can sense that from the people on the floor. They were desperate to fill their inventories and to supply that demand,” the ICA official said.

Douglas Hucker, CEO of ICA, meanwhile described 2023 as a “solid year” for JGW and ICA. He explained, “The traffic on the floor was strong and consistent, and clearly buyers were returning to trade fairs to replenish inventories and renew relationships. The atmosphere throughout was positive and our ICA exhibitors were pleased with the quality of buyers in attendance.”

Premium goods

Buyes were also on the lookout for larger, higher-value stones, according to exhibitors interviewed by JNA. Colour was also a significant consideration as companies entertained increased enquiries on rare fancy colour diamonds and coloured gemstones.

Mohamed Azharudeen Salahudeen of Star Lanka Co Ltd said clients were asking for exceptional stones or collector’s item, including Paraiba tourmaline, ruby, emerald, sapphire and spinel.

“The show was good for us,” noted Salahudeen. “Prices of coloured gemstones have seen considerable increases since last year, but buyers are now adapting to the new reality of prices.”

Star Lanka met with visitors from the US, Europe and Asia at JGW. 

Navneet Gems & Minerals Director Navneet Agarwal shared this sentiment. He remarked, “There was a lot of footfall and interest in different varieties of coloured gemstones. Sapphires and rubies have been the most popular – both in calibrated sizes and in single stones.”

Demand was strongest from Americans and Europeans, with buyers willing to pay a premium for finer-quality goods, added Agarwal. 

Meanwhile, German coloured gemstone expert ALine GmbH presented its broad assortment of no-heat ruby, spinel, tsavorite, tourmaline and spessartite garnet, to name a few, to long-term and prospective clients.

“The show has been good for us. We met with potential new clients from China, Hong Kong and Japan,” revealed Bruno Wyler of ALine GmbH. The company traditionally deals with European buyers.

Robust demand for specific white diamond varieties, including fancy shapes like pears, marquise, emeralds and ovals, was evident at JGW, revealed Gautam Gopani, director of Kiran Exports (HK) Ltd.

"These unique designs garnered significant interest among numerous customers, resulting in a flurry of purchases and a substantial number of orders for this exclusive product line," continued Gopani.

The show had a steady rhythm, he added, and while there were fewer buyers from the US and China, Kiran Exports managed to establish connections with other international clients.

"While their (US and China buyers) presence was missed, we remain optimistic about the future, confident that their engagement will further invigorate the event's dynamics in the upcoming editions," added Gopani.

Fancy colour diamond dealers also displayed their top collections at the fair. Shubham Maheshwari, marketing director of Kunming, said the company offered premium-quality fancy colour diamonds in a range of colours, shapes and sizes – some of which were showcased as mesmerising layouts. 

There is solid interest in yellow diamonds now, particularly fancy and light yellows, with the more expensive intense and vivid yellows also gaining favour among buyers, said Maheshwari.

Some companies also fared better at JGW compared to the March show. Sandy Chan of jewellery manufacturer Color Impex Co Ltd said traffic at JGW was “impressive” and her team met with existing and potential buyers. Majority of visitors were from China and Korea, with ruby jewellery as the most sought-after gemstone among visitors.

Jacky Lam, general manager of Peter Lam Jewellery Ltd, said the show was “better than expected.” He added, “We made good connections with new buyers, mostly from Asia, South America, Europe, South Africa and the Middle East.” The company displayed its iconic fine jewellery collections at the fair.