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BASELWORLD 2010 – Europe Headed for Recovery
BASELWORLD - 2010 concluded after eight successful days on 26 March, 2010.
By: Diamond World News Service
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May 6 2010 4:36PM
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Reference: 4921  

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With 100,700 industry professionals from all over the world, the show received attendance (+7% up compared to last year). At the close of the event, the exhibitors were feeling fine with the pace of business.

Thanks to its unique run, BASELWORLD secured its reputation as the highlight for the jewellery and watch industry, confirming its tremendous importance for all participants. BASELWORLD 2010 met the expectations in terms of business performance after challenging economic times.

The Basel world show also proved eminently important for smaller brands. It continues to be the top international event. If you miss out, you clearly have problems. This show secures stability even in challenging times and facilitates fantastic networking.

Confirming the Strength of the International Show :

Karl-Friedrich Scheufele, Co-President of Chopard, was also extremely pleased: “In comparison to last year, this year’s show proved much better. We welcomed more customers – especially from the USA – and received many more orders.”

According to Umberto Picchiotti, Vice President of Picchiotti, BASELWORLD is immensely important for jewellery producers: “Our expectations were far greater at this show than last year. And we are totally satisfied – this week we did exceptional business.”

Representing the national pavilions in the Hall of Universe, Winchell Cheung, Director HKTDC, commented on last year’s show: “Business was better than last year. We achieved higher sales again especially with buyers from the USA. We see this as the ideal platform for business from overseas and Europe.

This year’s edition of BaselWorld, the premier jewellery and watch trade show has welcomed the launch of new products from leading watch brands. Watch companies enhancing their product portfolio, signified a comeback in market sentiments and of a growing economy.

Participation Getting Costly :

Also, the gems and jewellery industry is hopeful that the year would generate better sales. Although costs of exhibition have underlined participation of many global gems and jewellery players, which indicates that the industry is maintaining a cautious outlook on expenses. Some large jewellery companies are sharing booth spaces, as their idea to cut back on exhibition expenses. Also, with the HongKong International Jewellery Show having concluded only days ago, the buyer response for loose diamonds from Asia at the BaselWorld 2010 has been low. This also brings forth an observation that the European markets have not picked up as well as the Asian markets.

Some exhibitors indicate that their participation at the BaselWorld 2010 is necessitated by their regular clientele appearing at the event, although the high costs would impact their future participations.

If costs continue to underline the decisions of companies to participate, some exhibitors opine that BaselWorld would culminate into an annual exhibiting platform for high-end watches and jewellery, and be less attractive for suppliers of diamonds and gemstones who participate in many such leading trade events throughout the year.

India’s Significant Presence :
The Indian gems and jewellery industry presented itself at BaselWorld 2010, in a significant manner. India’s Gem and Jewellery Export Promotion Council (GJEPC) organized an India Pavilion in Hall 6, with 34 leading jewellery manufacturers from the country, to represent India’s talent in the trade. Along with these select exhibitors, there were number of Indian diamond and jewellery manufactures hosting their individual booths at the Show.

India Palace Exhibition :
An exclusive India Palace Exhibition was rolled out, which invited select buyers to view the Indian gems and jewellery expertise over a catwalk event and cocktails, daily at BaselWorld 2010.

“Every year, India’s participation facilitates an exposure for the Indian designs and gems to the global market thereby helping the Indian gem and jewelry industry to create inroads into the untapped markets and establish India’s foothold in these markets,” said Vasant Mehta, Chairman of the GJEPC.

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