Good Jewelry Sales at IIJS Signature 2012

Send Date: 2012-01-08 19:39:11

Source: www.idexonline.com

Good Jewelry Sales at IIJS Signature 2012
 
By Edahn Golan 

(IDEX Online News) – Jewelry retailers looking for additional items for the wedding season in India are fueling business at the GJEPC IIJS Signature in Mumbai this weekend. 
 

The wedding season, already in full swing, is providing relief for large manufacturers that are not seeing good loose diamond sales.

The 2012 IIJS Signature show that opened Friday, is seeing less foot traffic than exhibitors were hoping for, however attendees are at the show to buy, not just browse.

Jewelry sales are largely driven by retailers' existing orders and some stock replenishment.

The high price of gold is causing Indian retailers to gravitate towards jewelry designs that successfully reduce the content of gold, yet retain the feeling of a good-size item.

Jewelry with delicate designs and a European or international flare were popular, especially lightweight, yellow gold items with long gentle curves, set with lower color, pique diamonds. Floral designs are still popular among buyers.

A rising trend is the mixed use of yellow and white gold in a single diamond jewelry item, mostly with floral designs.

The price of gold became such a high barrier in the past year that even larger gold jewelry items in traditional designs were made lighter to maintain their salability.

Loose polished diamonds were in low demand, much to the dismay of diamond traders. Foot traffic in the loose diamond section was much lighter compared to the jewelry sections.

The diamond items that did generate interest by local buyers were marquise and emerald-cut goods. Demand for these items was in a wide range of color and clarity, mainly a reflection of different regional tastes.

Matching sets, a staple of many of the Israeli exhibitors, did well, especially lower quality/color (SI-/H-K) emerald-cut sets. Better quality sets were in lesser demand.

Exhibitors reported strong pressure on prices, with buyers complaining bitterly about the worsening Indian rupee exchange rate against the U.S. dollar.

GJEPC’s India International Jewellery Show Signature 2012 is at its fifth edition. More than 450 companies are exhibiting in 800 booths at the show. The GJEPC expected 10,000 retailers, buyers and traders to visit the show that concludes on Monday.