市场情报 JNA March/April 2023 | 49 “The future is promising for the gems and jewellery sector, particularly for coloured gemstones. Thailand is still considered a global leader in manufacturing and exports. Growth is driven primarily by labour skills, design creativity and human resource development. - Sumed Prasongpongchai, director, Gem and Jewelry Institute of Thailand Opportunities are vast in the bridal jewellery, selfpurchase and gifting categories. The return of in-person trade fairs will also bode well for the gemstone and jewellery business. According to GIT, Thailand’s key export products include gold, gold jewellery, polished diamonds, silver jewellery and polished coloured gemstones. Its most important export markets (excluding gold) from January to September 2022 were the US, India, Hong Kong, Germany, Singapore, the UK, Switzerland, Belgium, the UAE and Italy. This growth momentum has been sustained throughout the beginning of 2023 as the country continues to capitalise on its strengths and innovate where needed, explained GIT Director Sumed Prasongpongchai. Thailand also benefits from the country’s jewellery manufacturing prowess as well as local players’ ingenuity when conceptualising new designs. The country’s edge in the coloured gemstone trade is also undeniable. “The future is promising for the gems and jewellery sector, particularly for coloured gemstones. Thailand is still considered a global leader in manufacturing and exports,” explained Prasongpongchai. “Growth is driven primarily by labour skills, design creativity and human resource development,” he added. Improving fundamentals The GIT official said the reopening of major jewellery markets and relaxation of travel restrictions around the world were also instrumental in Thailand’s recovery, especially the return of physical events and face-to-face business transactions. The market’s growing penchant for gifting and celebrating special occasions also fuelled increased overseas orders for gemstones and jewellery. Alongside thesemarket developmentswas the continued rise of digitalisation in the trade, said Prasongpongchai. The pandemic proved that there is an alternative way to buy and sell jewellery, and that is through online channels, thanks to advances in digital technology. Jewellery designs are also evolving, according to Fares D. Alahmar, founder and CEO of Thailand-based Alahmar Co Ltd. The company unveiled its line of fine ceramic jewellery in 2019, but Covid prevented an originally planned global launch. The collection, which features an artistic combinationof ceramic inmultiple, vibrant hueswithcoloured gemstones and diamonds, however made waves in Thailand as well as in Dubai and Cairo, its established markets in the Middle East. It also found favour among buyers from Japan and Korea. “Ceramic differs from enamel because it is much harder. It is scratch-resistant, and the colour does not fade with time,” revealed Fares. “Our main product is diamond jewellery, but we developed ceramic jewellery to meet the market’s need for fresh design ideas.” Fares added that his company is the first in Thailand to produce ceramic jewellery using modern technology. Alahmar offers ceramic jewellery with rubies, emeralds, sapphires and diamonds. Prices range from US$250 to US$20,000 and up. Buyer feedback was generally positive, which Fares attributed to a more progressive market that is highly receptive to change and new ideas. “Jewellery manufacturers must create new products that nobody else has. Business is back and people want to restock, and they are looking for unique pieces. After three years of lockdowns and business disruptions, they are eager to see innovative designs,” noted Fares. Post-pandemic customer Vatsal Parmani, director of Jewelcraft Co Ltd, agreed that today’s customers are always on the lookout for new and different jewellery designs, no matter the price, as their aim is to stand out and differentiate themselves from the competition. “Thai jewellery designs mostly revolve around diamond illusion setting. This trend has stagnated, and it needs a refresh and a new perspective,” shared Parmani. “Customers want to see more statement pieces that highlight the brand’s creativity. Such pieces are avenues for brands to tell compelling stories and gain market attention.” He explained that labour shortage and higher costs of raw materials are pushing jewellers further into the higher end of the jewellery market targeted at affluent customers with more dispensable income.
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