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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.

Responsibility is Good Business :

The Israeli Diamond Industry presented its new strategic approach for 2010, during its ceremonial annual press lunch, in which, Israel Diamond Institute Group of Companies (IDI) Managing Director Eli Avidar introduced the new campaign: “Responsibility is Good Business”. Also, guest speaker, Israel’s Deputy Minister of Industry, Trade and Labor MK Orit Noked, delivered a talk on Israel’s status as a centre for world trade, especially for the diamond trade, and the importance it places on responsibility in international trade. Israel is chairing the Kimberley Process during 2010, and the Ministry of Industry, Trade and Labor represents Israel in the Process.

Exhibitors speak ….

Ephraim Zion , DEHRES :

For us it is a quite show, the traffic is not so much . The prices in loose diamonds have gone up by 25-30% from the bottom last year. Goods like 1ct – 3ct are a lot in demand .
I think that we had a very busy Hongkong Show week, full of buyers and real sales that could also be a reason for less traffic here in loose diamond section. Europe side is generally slow and would pick up slowly .
On prices I believe that 1-5ct could be more strong while 5ct up should remain steady.
The challenge to companies like us are both sides to sell as well as to buy. The fancy shapes and fancy colors in big sizes there is big shortage.

Dinesh Sanspara , JR DIAM Group

We deal in briolette and diamond beads which are not a very common product in the market; so, the prices are stable in these goods . The show I think is better then last year but still not so great as it should be. We have been exhibiting for past 6 years in basel and generally we found lot of new customers from US and Europe .
But now this show is not looking cost affective to us and we may have to re-think in future.
Two sided whole briolette is very much in demand and moving strongly .

Bhavin Mehta , GEMBEL EUROPEAN SALES

We have been coming to Basel more than 9 years now. I believe this Show has its own leadership. There are less people this year but quality buyers are there in the show and they are buying in good quantities . 1-3 cts. is very strong .
Buyers are cautious and definitely price-resistance is there. We are offering a lot of different designs high end jewellery pieces and they are moving well. I feel the Middle-East and Far-East are more promising than Europe.
If no adverse event took place then the market would be very strong in the season time.

Mario Gilardini , Sales Managing Director , DAMIANI INTERNATIONAL

Basel is a good Show for us, we are back to the Show after 3 years and have a nice premium position. We are happy and busy with the customers. Originally we are manufacturers of jewellery but now very strong in retail. Inside the company we have a passion to design and produce fine jewellery.
DAMIANI in Italy is bigger than any other brand. Our target now is to promote the company abroad and that is the reason why I am here. I want to expand the successful story of Damiani to the world.
We have also introduced the brand licensing concept in the Show with Ferrari / Ducati etc.
I feel in the Show the buyers from Asia and Europe are very strong, but from US only the top ones are here.
I think INDIA is a great opportunity for us, I have a good experience of India in the past and we now have different levels of brands to offer in the market.

Sanjay Kothari, KGK GROUP :

The Show is a medium one since it is held just after the Hongkong show this time. We are displaying mainly high-end jewellery here in the range of 3000$US to 100,000US$. .
I observed good traffic from Russia and Middle East; US is very less active at this Show.
We are not able to see much of independent retailers who are important in this business. The better end products are moving well; in diamonds I see a fashion towards rose cuts in this Show. Black & white combination in commercial range is also doing good while brown moves more for US market.
Mainly I feel that the situation is returning to normal again.

Ramesh Patel, Ratnakala Exports :

The show is good for us. We are mainly focusing –6.5 and +000 goods. We have received good enquiries from Europe and some from Brazil and Hongkong . I am hopeful that after the fair once we follow-up with the customers we can generate good business.
Customers are ready to accept our prices since we are manufacturers and Mumbai today is the barometer for diamond prices. Mainly wholesalers from Europe are approaching us for consistent supply of quality goods.
150US$-300US$ is our range and mainly white goods. For the last two years we have been participating in Basel. Customers are happy with our consistent assortment and good customer service.

Sohil Kothari, Fine jewellery Mfg.Ltd. :

We have been a part of this Show for the past 12 years now. The Show has gone through a lot of changes since then. The advantage of Basel is that it is very well segmented which makes it easy for buyers. Basel has a mix of everything and is the best platform to do business in Europe. European buyer needs better quality and better prices.
I think the high-end range 1000US$ up wholesale price is doing good. The commercial range with some innovation is also OK. Major buyers for us are from the EU countries. Since last 3-4 months the sourcing of loose diamonds is getting tough and the prices are also up; this results in pressure on our jewellery prices. The higher gold prices also make it tough to sell. The volatility in gold is not good; it basically confuses the buyer and then he takes too much time to order which reduces the number of visits.

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