Hong Kong: In a Word, “Slow.” Yellow Gold is Hot! Diamonds… not. Here’s Anthony DeMarco’s Review
Anthony DeMarco –
Senior Contributor, Forbes.com –
Jewellery & Gem World Hong Kong
An excellent report from the September Hong Kong Shows by Anthony DeMarco, covering the economy, politics and the affect on business, gems, gold, diamonds, antique & estate, and more. Here are just a few snippets. You should click the link below to read DeMarco’s complete report. – gr
Jewellery & Gem World Hong Kong
The pulse of the jewelry industry and its relationship with the constantly changing world is reflected each year at Jewellery & Gem World Hong Kong (JGWHK).
This year the annual jewelry trade show attracted more than 3,300 exhibitors, a 5% decline from 2023, according to Informa Markets, which owns and operates the fair. Although final buyer numbers aren’t available, walking the floors on the first four days, it’s easy to see that foot traffic was down as well. Still the show is expected to attract about 50,000 visitors.
More important than the numbers themselves is what they represent. A major typhoon in the Shanghai area a few days before the show began meant many exhibitors and buyers from the area could not immediately make the trip to Hong Kong. Obviously, war in Ukraine and in Gaza has kept people in these regions from attending. After years of exponential growth, the U.S. jewelry market has softened, partly due to the upcoming presidential election. The China market has softened as well, reflecting the country’s overall economic challenges. These are the two largest markets in the world for jewelry. Then for the first time in memory, the fair coincided with the Mid-Autumn Festival on September 18, which further reduced overall attendance, at least temporarily.
Post-Pandemic
This is the first time I’ve attended the fair since the COVID pandemic and much of it seems to be the same as prior years. This is a fair where people come to do business and everything else is secondary. There are no celebrities promoting brands. New product releases are far and few. Instead, the marketplace was in full effect.
Day One – Important Loose Buying at AWE
On the first day of the show, French high jewelry artist, Lydia Courteille, was looking for gemstones for her large elaborate pieces. She is one of several high jewelry artists, such as Christian Hemmerle of German high jewelry house, Hemmerle, and Indian high jeweler, Neha Dani, regularly attend the fair. I later learned that Chinese high jewelry artist, Feng J, and Hong Kong high jewelry, Wallace Chan, were in the AWE looking for material.
HKCEC for Finished
At the HKCEC, exhibitors of finished jewels range from inexpensive mass-produced fashion items to some of the most impressive high jewels you will see at any trade fair of this scale. Buyers are retailers (large and small) from all over the world looking to stock their stores with pieces that will appeal to their customers.
The most crowded area of the fair for the first two days was the section for vintage and antique jewels, and according to exhibitors, retailers from China and other countries were buying, except for diamonds, which is being hit by mine overproduction and competition from less expensive lab-grown diamonds.
Hopeful: But We Knew Going In
The Fine Design Pavilion is where the high jewelry companies are located. Unlike the antique and estate jewelry section, foot traffic was slow during the first two days.
Ephraim Zion, founder of the House of Dehres, one of the premier high jewelry firms in Hong Kong, said the first two days are what he expected.
“It’s too early to tell but generally speaking, based on the one and a half days, it’s a little quiet,” he said. “We didn’t come here with great expectations but we still have another three days.”
Tap here to read the complete Hong Kong Shows report from Anthony DeMarco in Forbes.com
