Business was steady at the 2024 edition of Jewellery & Gem ASIA Hong Kong (JGA), driven by professional trade buyers from Asian countries.

Fine finished jewellery alongside coloured gemstones and pearls were highly favoured at the four-day fair, which ran from June 20 to 23 at the Hong Kong Convention and Exhibition Centre, with some 1,500 exhibitors from more than 30 countries and regions.

JGA 2024 welcomed 22,892 visitors from 96 countries and regions, according to trade fair organiser Informa Markets Jewellery.

Denise Adelaide Sjuman of Unique Brilliant Ltd said she mostly entertained buyers from mainland China and other Asian countries. 

“The show was quite okay for us. There was less traffic compared to last year,” noted Sjuman. “Unfortunately, we did not find new buyers, but we were able to touch base with our existing clients.”

Unique Brilliant Ltd offered its iconic selection of Padparadscha sapphire jewellery pieces at JGA. Sjuman said buyers were also on the lookout for unheated Burmese rubies, which are harder to come by. 

Asian buyers also fuelled sales at antique jeweller Gemolithos’ booth. Company founder Ioannis Alexandris said he closed deals with buyers from China, Indonesia, Japan, Singapore and India, to name a few. There were a few US clients, too.

“We met new clients as well. It has been extremely busy for us, which is encouraging,” added Alexandris. “India has always been a strong market for us. They always visit us at the show to buy a few items.”

Sales were better than expected at JGA 2024, according to Reed Zhu, founder of 24-karat gold jewellery manufacturer Shangpinjin based in China. 

The company showcased various collections of 24-karat, 5D and 3D gold jewellery with enamel, which were highly sought after at the show.

“JGA surpassed our expectations,” noted Zhu. “We had the opportunity to meet buyers from Dubai, Malaysia, the Philippines, Singapore and Palestine. We target overseas markets to expand our client base. One of our strengths lies in crafting statement pieces that resonate well with foreign customers.”

Coloured gems

Coloured gemstone specialist RMC Gems met with buyers from China, Hong Kong and other parts of Asia at the show.

According to Nirmal Bardiya, president of RMC Gems India Pvt Ltd, clients have been particularly interested in rubies, rubellites, Paraiba tourmalines and morganites, among other coloured gemstones.

He noted steady demand for coloured gemstones in the market, despite the high prices these now command. “While it is true that prices of coloured gemstones have gone up drastically the last few years, the pace of increases has slowed down and prices are more reasonable at present,” said Bardiya. 

Thailand-based corundum specialist Multi World Gems Manufactory Co Ltd also fielded enquiries mainly from Asian buyers at JGA. 

Company sales manager Imran Shah said he met up with regular clients from mainland China and Hong Kong in the first two days of the show. Aside from professional trade buyers, several jewellery manufacturers who were exhibiting at the show were likewise purchasing coloured gemstones for their collections, he observed.

Multi World Gems supplies heated and unheated rubies and sapphires in a wide variety of sizes and qualities. According to Shah, its rubies come mainly from Mozambique while its sapphires are from Sri Lanka. The company also has an extensive stock of stones from other origins.

Shah noted that prices of coloured gemstones have been on an uptrend for the last four years due to supply concerns, economic upheavals and growing demand. Recent auctions also commanded high prices, which will affect market conditions, he said.

“Prices have been increasing by at least 20 to 30 per cent year-on-year. Many jewellery manufacturers, gemstone dealers and brands remain reluctant to purchase at current prices because end-consumers do not understand the situation yet,” said Shah.

Jay Rawat of German company Nageena e.K also entertained buyers mainly from China and Hong Kong at JGA. Business was steady, with cabochons and hand-carved leaf-inspired aquamarine stones having sold the fastest.

The company offers a variety of fine coloured gemstones, including rubies, emeralds, sapphires, aquamarines and moonstones, among others, in all shapes and sizes. 

“We see rising demand for carved stones and fancy cuts gems, which we specialise in, from the Chinese market. Our clientele is composed mainly of jewellery designers who favour the uniqueness of these stones.” 

Pearls

Katsuo Akasaka, vice president of Akasaka Unibase Inc, cited sustained market interest in pearls at JGA. “However, buyers have become more cautious when making purchases. They check and compare prices before making a final decision. It is more challenging to close deals now,” shared Katsuo. 

The Japan-based company specialises in the manufacture and wholesale of high-quality Akoya pearl jewellery, with China as its main market. 

At the show, Akasaka showcased its mabe pearl jewellery collections, which received positive feedback from its customers. The company also offered lightweight 18-karat gold jewellery adorned with Japanese Akoya pearls. “We observed a growing demand for more affordable items from Chinese buyers,” noted Katsuo.

Ivy Chen, manager of Shenchen Menai Jewelry Co Ltd, for her part, observed strong demand for Akoya pearl strands of 6mm to 8mm in diameter. Price-sensitive buyers prioritised the quality of pearls, she added.

“As a China-based company, our business has been growing steadily over the past few years. We have successfully expanded our client base to overseas markets such as Australia and Switzerland,” said Chen.

Diamonds

Over at the diamond section, exhibitors said there were fewer footfalls compared to previous editions. Hong Kong, however, remains a beloved market for diamond manufacturers, according to Chirag Kakadia, director of Sheetal Group.

“It is important to be here. You cannot neglect this market,” Kakadia said on the second day of the show. “We remain optimistic that the market would bounce back, fuelled by renewed aspirations to own a diamond jewellery.”

Sheetal offered a broad selection of certified and non-certified diamonds in white and natural fancy colours and round, pearl, heart, oval, emerald, princess, cushion, marquise and radiant shapes. Bespoke and light performance cuts bearing D to K colours and IF to Pique clarity ranges were also available.

The company’s certified diamonds come with grading reports from the Gemological Institute of America, De Beers Institute of Diamonds, Forevermark, the International Gemological Institute and HRD Antwerp.

Kakadia said he is counting on latest campaigns from industry leaders such as De Beers and Chow Tai Fook, to name a few, to promote natural diamonds to have a positive impact on market demand. 

Meanwhile, Janesh Sharma, marketing manager of Rainbow Gems (HK) Ltd, said his company mostly entertained Chinese customers at JGA 2024. Rainbow Gems, which mainly sells fancy colour and fancy cut diamonds, has a solid customer base in Hong Kong and Australia. It also sells to European and US buyers.

Buyers

Professional trade buyers had at their disposal an expansive range of products to choose from at JGA.

William Huang, president of Capstone Diamond International Ltd in Taiwan Region, was on the lookout for fancy colour diamonds while exploring new ideas and trends. Capstone Diamond manufactures, wholesales and sells diamond jewellery. In 1998, it established its Vivid Enture retail brand of diamond jewellery, which it distributes through e-commerce platforms and TV shopping networks.

Huang chanced upon "impressive" diamond cuts at the show, including one-of-a-kind fancy-shaped diamonds. “I also came across some meticulously arranged layouts of smaller-sized fancy colour diamonds. These diamonds were curated to produce various kinds of jewellery, like earrings and necklaces. I was inspired by how they pair various coloured diamonds to create attractive jewellery designs,” Huang told JNA at the fair.  

He said dainty, lightweight but affordable diamond jewellery pieces are growing in popularity among young female customers in his market. He also observed solid demand for high-end fancy colour diamond jewellery, notably with fancy pink and blue diamonds, for investment, family wealth and inheritance purposes.

For her part, Sohaima Dandamun, owner of Sohaima Pearls Shop from the Philippines, was scouting for pearl products at JGA. She noted, "Prices of pearls have increased substantially in the last two years. While we still need to obtain pearls to fulfil our orders, we had to adjust the volume of our purchases to stay within our sourcing budget.”

Aside from manufacturing and selling pearl jewellery at its retail store in Metro Manila, Sohaima Pearls Shop also produces pearl jewellery – mostly handmade – for local and international jewellery brands. 

Also on her shopping list were lightweight diamond jewellery in 14-karat gold, which she intended to source mainly from Hong Kong manufacturers. 

“Our customers are partial to classic and simple gold jewellery for everyday use, with small diamonds for accent. We find that Hong Kong companies produce a wide variety of designs that fit the requirements of our market at reasonable prices,” Dandamun shared.

Kang Sunghyuk, CEO of South Korean retail jewellery brand ALOD, had an extensive shopping list for his JGA visit. His KDT Diamond Co imports and wholesales natural diamonds. In 2023, it ventured into the lab-grown diamond (LGD) market with its ALOD jewellery brand that has eight stores across the country.

At JGA, Kang was sourcing for natural diamonds as well as quality, customised packaging for his company’s LGD jewellery.

“In South Korea, there is strong demand for LGD due to its affordability and availability in fancy cuts. Customers favour fancy cuts such as emerald cut and princess cut. Natural diamonds with fancy cuts tend to be much more expensive, which is why many people opt for LGD as a more affordable alternative,” he shared.

Other products also caught Kang’s eye. “I found the Turkish mountings to be really impressive. They make exceptional tennis bracelet mounts. Fancy colour diamonds are also gaining popularity in the market. I plan to source these at the September show,” he said.