Dimexon vice-president of sales Pranav Mehta shares his experience of returning to the Hong Kong International Jewellery Show after nearly four years.
The Hong Kong International Jewellery Show returned this year following a three-year hiatus, and it did so with a bang. The five-day event brought together more than 2,500 exhibitors and 60,000 buyers from 130 countries. The show was a true celebration of the industry, and included seminars, forums and parades, as well as the 24th Hong Kong Jewellery Design Competition, which champions local jewellery design and nurtures new talent.
The past few years have been challenging for the industry, but the success of the Hong Kong show suggests there is a mood of positivity in the market. Throughout the event, the HKTDC conducted an on-site survey with exhibitors to gain insight into the outlook for the markets. The survey found that 62% of exhibitors are expecting their business to return to pre-pandemic levels within the next year and that diamonds were predicted to be the most in-demand gemstone from buyers.
Dimexon exhibited at the show, with the team led by our vice-president of sales Pranav Mehta, who shared his experiences of the event with us.
How was the show?
PM: The show was excellent. The opportunity to meet all of our Chinese and South Asian clients under one roof over five days was brilliant. After a gap of almost four years, it was wonderful to be able to meet our Chinese clients in person once again.
Was it well attended?
PM: There were a lot of people at the show, and reports show that the number of visitors surpassed the numbers of Wanchai and AWE shows in 2019 combined. The participation numbers were high, even in spite of lower traffic from the US and Europe.
What was the mood among buyers?
PM: On the floor of the exhibition, there was a general wave of optimism amongst sellers and buyers alike, and we had a lot of inquiries and made a lot of meaningful business connections.
Was there lots of business being done?
PM: Though transaction levels at the show might have been a little slow from direct customers, dealer activity was relatively higher. However, the weeks that followed brought in more consistent business, showing that people were taking more time to think about their purchases in a more considerate way. The good news is that the clients know the polished prices are here to stay and won’t be getting lower. So, either they need to recalibrate their qualities or adjust to the pricing.
What type of diamonds sold the best at Dimexon?
PM: Small diamonds in rounds sold well. Quality was SI in -11 down and VVS to SI in +11 up. Our brown goods also sold very well in smalls. We also saw a decent uptake in sales when it came to 1cts up diamonds.
What are your thoughts on the future of the Hong Kong show?
PM: It seems the Hong Kong show is back with a bang and here to stay. Expectations are high for a very strong September Hong Kong show, considering that the climate in China will have picked back up and hopefully peaked by then.