Visit Turkish Pavilion At Hong Kong Jewellery Show


Turkish Jewellery Exporters' Association will establish a Turkish Pavilion at the show. Nearly 100 jewellery manufacturers from Türkiye will participate in Hong Kong Jewellery Show.
HONG KONG, 3 August 2023 – The world’s biggest jewellery fair is finally happening in Hong Kong this September, marking its first major comeback since 2019. With 3,000+ suppliers from 50+ countries and regions exhibiting in two venues, 40+ group and themed pavilions, and a high-profile events programme celebrating extraordinary individuals who represent the very best of the industry, Jewellery & Gem WORLD Hong Kong (JGW), is gearing up to deliver the sourcing experience that the buying community has long been waiting for.
Previously known as the September Hong Kong Jewellery & Gem Fair, JGW is set to make history this year by honouring two milestones – the fair’s 40th edition and the 40th anniversary of JNA, Informa Markets Jewellery’s flagship jewellery trade publication. 
“This is a once-in-a-lifetime fair, which is made all the more special following the significant impact that the pandemic has had on our industry. The journey has been far from easy. But despite it all, we’re still here – stronger, tougher and even more enduring. JGW is an opportunity to recognise and celebrate that resilience, and to act with confidence and positivity as we move towards the future,” said David Bondi, Senior Vice President of Informa Markets in Asia. “As the countdown to JGW continues, we encourage everyone to explore the many ways to participate and make this experience truly unforgettable.” 
Returning to its original two-venue, product category-specific format, JGW is taking place at the AsiaWorld-Expo (AWE), where jewellery materials, such as loose diamonds, coloured gemstones and pearls, will be exhibited from 18 to 22 September, and at the Hong Kong Convention and Exhibition Centre (HKCEC), where finished jewellery, packaging solutions, tools and equipment, and jewellery industry-related technologies will be unveiled from 20 to 24 September.
Pre-registration for buyers is currently underway. World of gems and jewelleryThe “mother of all jewellery fairs” has more than 40 pavilions to explore, including its signature zones.
AWE offers one of the most expansive marketplaces for diamonds, coloured gemstones, pearls and other loose precious materials, ranging from exotic and hard-to-find gemstones to commercial-grade and mid-range quality goods. 
The Diamond Pavilion – one of the biggest in the world – showcases the full spectrum of the industry, spanning loose and set diamonds in precious metals as well as fancy colour diamonds. 
The Fine Gem Pavilion (FGP) is another iconic zone that features top dealers of gemstones coveted by legacy brands, designers and collectors. Also a must-see for buyers searching for stones in virtually every colour of the rainbow is the all-encompassing Gemstone Pavilion, which is renowned for having one of the highest concentrations of primary gemstone suppliers in a single location.
Furthermore, JGW will launch the Red Radiance campaign, an engaging treasure hunt that fittingly shines the spotlight on the ruby, the traditional 40th anniversary gemstone. Buyers can follow a “treasure map” to find the most exceptional ruby collections on both the AWE and HKCEC show floors.
Another highly popular destination is the Pearl Pavilion, which gathers internationally renowned suppliers of Akoya, South Sea, Tahitian and freshwater pearls. Pearl auctions will also run concurrently with the fair, further adding excitement to the event.
Buyers seeking finished jewellery products will find the HKCEC section of JGW to be their number one stop. The Grand Hall is home to the Fine Design Pavilion (FDP), where red-carpet-worthy jewellery, adorned with diamonds, coloured gemstones, pearls and other high-value materials, will be revealed. The CORE Pavilion showcases the best of Hong Kong’s jewellery and gemstone industry, while the International Premier Pavilion (IPP) spotlights the latest trends and inspirations in luxury jewellery. Other must-visit spaces within HKCEC include the Fei Cui Gallery, Antique & Vintage Jewellery, Designer Arena, International Fine Jewellery and the Hong Kong Pavilion, among others. Moreover, trade association-led and themed sections will provide attendees with a diverse and rich array of product offerings.
Additionally, SEASONS | Autumn will be co-located with JGW from 20 to 24 September in Hall 5B of the HKCEC. One of the most inspiring and exciting events in the fashion jewellery and accessories sector, the Fall edition is recognised as a powerful platform that sparks business collaboration and partnerships. The fair offers a world of opportunities to buyers searching for must-have collections for the Spring/Summer of 2024 and beyond. Pre-registration for SEASONS | Autumn is now open.


Istanbul Jewelry Show Will Be Held Between 05-08 October 2023


Istanbul Jewelry Show, the most important exhibition of jewelry industry in the region, opens doors at Istanbul Expo Center for the 54th time between 05-08 October 2023.
Istanbul Jewelry Show offers a secure platform where industry leaders may experience and supply the latest products, services and technological solutions while setting trends, and new business deals may be concluded by and between exhibitors and buyers. 
Recognized as one of the top five jewelry exhibitions in the world, Istanbul Jewelry Show convenes the outstanding companies and brands with industry experts on a safe platform while offering opportunities for new cooperation and a unique way to exchange information. 
The exhibition will be featuring 800 jewelry companies and brands representing a wide range of product groups and sectors including gold, jewelry, diamonds, colored stones, precious and semi-precious stones, pearls, silver, silver accessories and silver household items, gold mounting, refinery, watches, molds, shop window decorations, machinery and equipment side industry, safes, software, and logistics and lighting product groups. At the exhibition which will be organized for the 54th time and will be offering the opportunity to meet and make business deals with major buyers from all over the world ranging from Eastern Europe to Near East, the exhibitors will be showcasing their special products and collections to around 23.000 professionals of the sector from over 125 countries.
Catering the needs of industry since 1986, Istanbul Jewelry Show fairs are organized by Informa Markets, the world’s biggest and leading fair organizer. Informa Markets has a long-standing background and expertise in industry with 17 jewelry fairs organized in 7 countries. Encouraged also with the power of its portfolio, Istanbul Jewelry Show stands as a fair closely followed by all industry experts. 
International buying committee to be welcomed during the fair
“International Buying Committee Programme” will be realized to improve export, to discover new markets for export products and to help sellers keep their current market shares. The representatives of industry leading companies and brands will be welcomed as buyers within the scope of programme. 
Jewelry design pulses again at Designer Market!
Designers taking part in Designer Market, organized under the roof of Istanbul Jewelry Show, will exhibit their latest designs to visitors. With a growing volume and interest each year, Designer Market is an exclusive arena where global jewelry market actors unveil their designs, and designers reunite with manufacturers to exchange ideas and to create opinions about next year’s jewelry designs.

Dont Miss The Free Accommodation Opportunity For Istanbul Jewelry Show Buyer Delegation


Get Ready For Istanbul Jewelry Show - October Rendezvous between 5-8 October 2023
The applications for jewellery buyer delegation organized by Turkish Jewellery Exporters' Association for the Istanbul Jewelry Show have started. Jewellery buyers will be hosted in Istanbul free of charge for 4 nights. 
Turkish Jewellery Exporters' Association will host more than 1000 jewellery buyers from all over the world during Istanbul Jewelery Show. Guests will be able to enjoy 4 nights of free accommodation and visit the Istanbul Jewelry Show.
Chairman of Turkish Jewellery Exporters' Association, Burak Yakın states that they will host more than 1000 jewellery buyers in Istanbul within the jewellery buyer delegation.
''The organization of jewellery buyer delegation is very important for us.'' 
''Istanbul Jewelry Show has become one of the most important jewellery fairs in the world. Jewellery buyers from all over the world schedule months in advance to visit the fair. As the Jewellery Exporters' Association, we host our foreign guests free of charge in Istanbul for 4 nights. 
As Turkish Jewellery Exporters’ Association, we host our visitors participating in this organization in prestigious hotels. We provide transfer services between the hotel and the fairground. At the same time, our guests staying at the hotel have the opportunity to meet with our companies participating in the fair at the Buying Delegation Organization held on the morning of the first day of each fair, and they can plan their fair visits.''


DMCC Hosts Inaugural Lab-Grown Diamond Symposium To Shape Industrys Future


World-first Lab Grown Diamond Symposium held by DMCC gathered over 230 industry stakeholders in Dubai
Held under the theme of “Building Lab-Grown Diamonds’ Own Bright Future”, the gathering discussed opportunities and challenges across the value chain
Stakeholders included growers, manufacturers, retailers and financial institutions from around the world
An ever-increasing number of tech applications and products designed specifically with LGDs in mind were identified as some of the key drivers of diversified, long-term demand
DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – today hosted the world’s first Lab-Grown Diamond Symposium during which participants discussed opportunities and challenges to shape the long-term future and prosperity of the industry.
Held under the theme of “Building Lab-Grown Diamonds’ Own Bright Future”, the Symposium welcomed over 230 stakeholders and industry experts including growers, manufacturers, retailers and financial institutions. Designed as a collaborative and interactive platform, enabling constructive discussions, three panel discussions dived into the issues around the value chain economics, branding and marketing, and reputation and sustainability.  
Delegates were welcomed by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, who said: “The LGD Symposium is a first-of-its-kind and timely gathering looking critically at the issues facing this nascent technology-driven industry. With over USD 1.5 billion lab-grown diamonds traded through Dubai last year – a year-on-year increase of 126% – we are witnessing first-hand the rapid rise of LGD and their applications from fine jewellery to semiconductors and heat sinks. This Symposium will be a pivotal moment in the growth trajectory of LGD, firmly establishing a platform for dialogue among the global industry movers in order to secure the longevity and prosperity of this unique technology in the coming years.”
Topics addressed included the role of marketing and branding to ensure sustained demand for lab-grown diamonds; the ways in which sustainability and reputation contribute to the long-term reputational strength of lab-grown diamonds; and industry economics to improve the long-term fundamentals and profitability of the industry and meet supply chain funding requirements.
The technology session discussed how innovations such as more efficient reactors are making production more cost and energy efficient, as well as how the tech sector is more bankable than jewellery, giving rise to a broader range of opportunities for tech applications of LGDs. Additionally, another session concluded that the price accessibility of LGDs means that they are not constrained to traditional jewellery designs, meaning that LGDs should be marketed with wider applications such as in the design of sunglasses, handbags and other similar products.
Keynote speakers at the inaugural event included Diamond Foundry’s Toby Cruse, who stated that the volume of natural and lab-grown products sold in the United States is nearly equal, Dr. Ramachandra Rao from Indian Institute of Technology, and industry veteran Tom Chatham, who shared some key learnings from across his family’s 85 years in the lab-grown industry.
In line with its mandate to enable and attract new trade flows through Dubai, DMCC has been a driving force in establishing the emirate as a leading global hub for diamond trade by establishing an ecosystem that supports every aspect of the diamond trade. In 2021, the UAE became the top rough diamond hub in the world. The Lab-Grown Diamond Symposium will further contribute to the UAE’s position as a global trade hub and a world-leader within the technology and precious stones industries.


VicenzaOro September, Over 1,200 Exhibiting Brands From 34 Countries


High jewelry and gold production, diamonds and precious stones, but also components and semi-finished products, packaging and visual merchandising services and an area dedicated to contemporary watches. More than 1,200 exhibiting brands from 34 countries around the world will be attending Vicenzaoro September 2023 – VOS , Italian Exhibition Group’s (IEG) international event that will see the entire gold and jewelry supply chain gather at Vicenza Exhibition Centre from 8th to 12th September. A sector that, in the first quarter of 2023 recorded an 11.3% increase in turnover compared to the same period last year, mainly driven by exports. Industrial production was also positive (+2.3%), unlike other made-in-Italy manufacturing sectors that registered a backward trend (data processed by Confindustria Moda’s Study Centre for Federorafi).
An International Offer
Germany, Turkey, China, India and Thailand will be the countries most represented by foreign exhibiting brands, covering about 40% of the exhibition offer. Made in Italy will be represented by all the main national districts (Arezzo, Vicenza, Valenza and Campania), promoting the excellence of their products and services. It will be the focus of business matching for the 400 foreign buyers involved in the incoming program organized with the support of the Ministry of Foreign Affairs and International Cooperation and ITA – Italian Trade Agency , and arriving from all over the world, in particular from the USA, the United Arab Emirates, Israel, China and ASEAN countries.
Every Inch of Exhibition Space Used
VOS 2023 has already been sold-out for weeks with several companies on the waiting list, particularly for the ICON community dedicated to high-end jewelry. To meet the needs of companies, IEG has made every space available, including the conference rooms in Hall 7.1 on the first floor of the Expo Centre, creating a reserved and exclusive area. High-visibility connections and passageways will be used to enhance the different exhibition areas. The show will also feature special projects organized by the Veneto and Sicily Regions , which will be displaying collective exhibitions of their best gold and jewelry production.
The Event and the Territory
Vicenzaoro renews alliances with the territory. It will offer a series of exceptional services to welcome visitors from all over the world. These include hotels at special rates, reduced fares for flights with Lufthansa Group airlines and tickets for domestic train routes by Trenitalia, free shuttle services from Venice and Verona airports (for further information: visit here ). Visitor flows in and out of the Expo Centre will be smoother with new opening hours from 10 am to 7 pm. Not only business, but also entertainment: with the tenth edition of VIOFF- Golden Experience, the Off Show event, VOS continues its collaboration with the city of Vicenza by outlining a multi-sensory itinerary brimming with initiatives, including history, art, music, culture and typical food and wine. The list of exhibitors and visitor services is already available on the “TJGC-VICENZAORO” App.
Partners and Stakeholders
The event will see the participation of all the sector’s voices, institutions and trade associations, from Confindustria Federorafi, Confartigianato Orafi, Confcommercio Federpreziosi, CNA Orafi, Confimi Industria Categoria Orafa ed Argentiera toAssogemme, Assocoral, AFEMO – Italian Association of Jewellery Machinery Manufacturers and Exporters and CIBJO, which will be contributing to the event agenda and the talks scheduled over the five days of IEG’s International Gold and Jewellery Show.

JIS Fall 2023 In Miami Beach Opens Registration


Registration for JIS Fall is now open. JIS Fall, the premier event for immediate at-show delivery, is set to take place from October 13-16, 2023, at the Miami Beach Convention Center in Miami Beach, Florida. Conveniently located within walking distance from hotels, world-renowned restaurants, and breathtaking beaches, JIS Fall promises to be an unparalleled experience for all attendees.
Qualified jewelry trade attendees register here.
As the largest JIS event of the year, JIS Fall 2023 will have over 600 domestic and international exhibitors, showcasing a wide array of fine jewelry, lab-grown products, silver, fashion designs, and cutting-edge technology. Attendees will have the opportunity to explore a diverse range of products and innovations shaping the future of the industry from leading companies such as Afarin, Anna Zuckerman, Bapalal Keshavlal, Breuning Inc., Doves by Doron Paloma, Stuller and more. See the full exhibitor directory here.
Notable International Pavilions will also be featured at the show, representing the finest jewelry from Italy, Hong Kong, Türkiye, and South Africa, offering visitors a truly global perspective on the latest trends and designs. Highlights of JIS Fall 2023 include the ETS Pavilion, a platform that showcases cutting-edge technology, services, and supplies aimed at enhancing businesses and revolutionizing the industry. Additionally, the Plumb Club Pavilion, a leading jewelry industry supplier organization, will present an impressive coalition of suppliers spanning all facets of the fine jewelry, diamond and watch industries.
The four-day buying event has been timed perfectly for retailers to restock their inventories before the upcoming holiday season. This will ensure that attendees have access to the latest products, guaranteeing they can meet the demands of their customers during the important shopping period.
“We are thrilled to welcome the jewelry industry back to JIS Fall 2023,” said Sara McDonough, JIS event director. “This year’s event promises to be the biggest and most exciting yet, with an extensive lineup of exhibitors, pavilions and networking events. We look forward to providing attendees with a platform to discover the latest trends, build meaningful connections, and elevate their businesses to new heights.”
The schedule will be filled with engaging activities and enriching sessions, designed to create lasting connections between exhibitors and visitors. To celebrate the gathering of industry professionals and welcome new exhibitors, JIS Fall 2023, will host the New Exhibitor Happy Hour on Friday, October 13, from 5:30 PM to 7:30 PM. This exclusive event offers complimentary cocktails, gourmet hors d’oeuvres, and the hottest DJ beats in Miami Beach. For attendees looking for networking opportunities, the Silver & Fashion Pavilion pop-up on Friday, October 13, will offer fresh warm churros with delectable toppings. Another not-to-be-missed event is the Cocktails & Connections Networking Event, taking place on Saturday, October 14. Attendees can indulge in cocktails, enjoy live music from the beloved local country band Whisky Six, and connect with other industry professionals in a relaxed after-hours setting.
As an added touch of fun, JIS Fall 2023 will offer a photo booth and custom t-shirts screen printed and hand-delivered, fresh from production, as memorable keepsakes. See the full event schedule here.
Don’t miss out on the premier event for the jewelry trade this fall! Register now and secure your spot at JIS Fall 2023.
For more information about JIS Fall 2023 and to view the full list of exhibitors and event schedule, visit: here.
For more information, contact:
Lauren van Rensburg
Marketing Director
[email protected]
+1 (203) 840-5311

CIBJO Congress Special Report Extensively Review Sprecious Metals Markets in 2022 and 2023

With fewer than eight weeks to go to the opening of the 2023 CIBJO Congress in Jaipur, India, on October 3, 2023, the third of the pre-congress Special Reports has been released. Prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, the documents provides a comprehensive overview of the gold, platinum, palladium and silver markets in 2022 and thus far in 2023, also looking at regulatory issues in the United States.
In the report, Mr. Daniels recounts the turmoil that followed Russia’s invasion of Ukraine, as investors sought security in an increasingly volatile market environment.
With the post-COVID global economy being affected by numerous shocks during the past two years in addition to the Russia-Ukraine war, such as supply chain issues, inflation and tightening monetary policy, precious metals continued to maintained their safe haven status, Mr. Daniel writes. Last year saw central bank purchases of gold at record levels, as well as  vigorous retail investor buying, with annual gold demand rising 17 percent to 4,706 tonnes, which was almost on a par with 2012.
For its part platinum demand was up nearly 11 percent in 2022, the report notes, although its annual average price was lower than 2021 levels. The report describes pressure on platinum supply, largely an affect of Russia’s being the world’s second largest  producer, and operational problems in South Africa, the world’s largest supplier, caused in part because the country’s struggling electricity providers.
Technology is a key factor in both the gold and platinum jewellery sectors, Mr. Daniel writes. Gold jewellery has welcomed a new generation of premium products such as 3D hard gold, 5G gold and heritage gold, which has sustained the sector’s momentum and seen increasing market share due to their designs and higher margins.
For its part, platinum depends on improving the design and technology of platinum jewellery pieces, such as creating finer, more diversified, and lighter pieces or products that are strong yet scratch-resistant, and made with processes that improves the efficiency and reduces wastage, he notes.

Gold Continues To Perform As Central Bank Buying Hits H1 Record

The World Gold Council’s latest Gold Demand Trends report reveals that gold benefited from record central bank buying in the first half of the year and was supported by healthy investment markets and resilient jewellery demand. 
Gold demand (excluding OTC) dropped by 2% y/y to 921t during Q2, although total demand 
 (inclusive of OTC) was up 7% y/y, pointing to a solid gold market globally.
Second quarter central bank demand was down y/y to 103t, primarily driven by net sales in Turkey due to country-specific political and economic circumstances. However, central banks bought a first half record amount of 387t, and quarterly demand is in line with the longer-term positive trend – indicating that official sector buying should remain strong throughout the year.
Turning to gold investment, bar and coin demand increased by 6% y/y to 277t in Q2, and a total of 582t in H1, thanks to growth in key markets including the US and Turkey. Gold ETFs outflows of 21t in Q2 were notably smaller than the 47t in the same quarter of 2022, bringing net outflows to 50t in the first half of the year.
Jewellery consumption remained resilient in the face of high prices, showing a 3% y/y increase in Q2 and an H1 total of 951t. A rebound in Chinese demand and remarkably strong consumer buying in Turkey bolstered second quarter consumption.
Finally, total gold supply was 7% higher y/y at 1,255t in Q2, with mine production estimated to have reached a record for H1 of 1,781t.
Louise Street, Senior Markets Analyst at the World Gold Council, commented:
“Record central bank demand has dominated the gold market over the last year and, despite a slower pace in Q2, this trend underscores gold's importance as a safe haven asset amid ongoing geopolitical tensions and challenging economic conditions around the world.”
“Looking ahead to the second half of 2023, an economic contraction could bring additional upside for gold, further reinforcing its safe-haven asset status. In this scenario, gold would be supported by demand from investors and central banks, helping to offset any weakness in jewellery and technology demand triggered by a squeeze on consumer spending.”

Rjc Welcomes Newly Elected Executive Committee And Board Members At 2023 AGM

The Responsible Jewellery Council (RJC), the leading standards-setting organisation for the global jewellery and watch industry, announced that its members on 9 June elected three members to its Executive Committee of the Board of Directors, and elected nine members to the Board, at its Annual General Meeting (AGM).
“RJC’s strength comes from the engagement of our 1,700 committed members, a deeply experienced board and executive leadership team, and a shared belief in building sustainable, responsible business practices across our industry,” said RJC Chairman David Bouffard. “These newly elected leaders, working with a highly talented set of existing board members, will accelerate our efforts through diverse perspectives and deep knowledge. Congratulations to them all.”
During the meeting, Bouffard shared the results of the elections. Elected to serve as RJC Executive Committee Officers were:
  • Edward Asscher from Royal Asscher was elected as Vice Chair. He said, “I was invited to the board in 2022. Now that I have been elected to the board, I feel strongly supported to further the goals of the RJC: sustainability, diversity and continuously improving the standards. I draw on my long experience to advance our goals, especially for the small and medium enterprises.”
  • Udi Sheintal from the World Diamond Council was elected as Honorary Secretary. He shared, “I am honored and grateful for the show of trust from RJC members and look forward to joining the RJC Officers in contributing to the organization’s important work.”
  • Feriel Zerouki from De Beers was re-elected as Honorary Treasurer. She said, “With stakeholder focus on sustainability growing ever sharper, it is vital that the jewellery industry adopts the highest standards of practice. I’m therefore delighted to be re-elected treasurer of the RJC as it continues to expand its membership and delivers wider positive impact with its leading sustainability agenda.”
Election results for RJC Member Forum representatives, where Directors represent their respective forums in the jewellery and watch supply chain, include:
  • Zara Boltd from Lucara Diamonds and Purvi Shah from De Beers were elected to represent the Diamond, Gold and/or Platinum Group Metals Producer Forum.
  • Michael Steinmetz from Leo Schachter Diamonds was      elected to represent the Diamond Trader and/or Cutter and Polisher Forum.
  • Philip Reisert from C. Hafner was re-elected to represent the Gold & Platinum Group Metals Trader, Refiner, or Hedger Forum.
  • Colleen Rooney from Signet Jewelers and Reout Kallati from Kallati International were elected to represent the Retailer Forum.
  • Kareena Shahani from IGI India and Rajesh Neelakanta from Sequel Secure Logistics were elected to represent the Service Industries Forum.
  • Gaetano Cavalieri from CIBJO and Bernadette Pinet Couq from BJOP were elected to represent the Trade Association Forum.
The Board and Officers will work closely with RJC Executive Director Melanie Grant and her management team, as the organisation continues to lead and advance responsible business practices across the global jewellery and watch supply chain.

Diamond & Jewelry Sales Down 11%, Loose LGD Capture %50 of Sales

In July, overall jewelry and diamond unit sales declined 5.1%, further declining from the 2.8% decrease in June. The combined value of jewelry and diamond sales were down 10.8% year over year, adding to the 8.7% decline in June.
But while sales declined nearly across the board, loose LGD gained a 50% share of units sold.
Jewelry Sales Continued to Sag in July
July jewelry sales continued to demonstrate weakness versus July of 2002. Unit sales declined 5.4% year over year while sales value declined 6%. Year to date, sales declined 5.7% by unit and 6.8% by value. Making things tighter at retail in July was a 1.3% decline in retailer margin to 51%.
Performance by product category showed large differences. Year over year, necklaces were up 0.7% in units and 6.5% by value. Bracelets declined 0.4% in units and went up 3% in value. Pendants dipped 1.9% in unit sales and 2.2% by value while earrings declined 5.7% by units and 12% by value.
Rings dropped 9.2% in units and 7.4% in value, dragging the market down. The highly watched engagement rings segment continued to show weakness, down 9.1% by units sold and 17.7% by value compared to July 2022.
Performance by retail price range was buoyed by the very high-end of the market with items in the volatile over $100,000 price range displaying a 25% increase in units sold and a 34.8% increase in retail sales value. All other price ranges showed declines in both units and value.
Diamond jewelry dropped 7.7% in units and 7.3% in retail value. Jewelry set with natural diamonds was down 9.9% in units and 9.1% In value. The share of LGD-set jewelry sales increased to 6.2% from 3.8% in July 2022. Year over year, LGD unit sales rose 51.9% while by value they increased by 31.6%.
Jewelry Sales Increased the Most in the West
The buying patterns of the US consumer is not neatly defined by a single national perspective. A dive into regional performance shows very different buying activity by regional market.
Year over year jewelry sales by region in July were as follows:
 West – unit and value of sales rose 5%,
 Midwest – units down 1.3% value up 0.2%,
 Southwest – units down 5% value up 4.7%,
 Southeast – units down 9.6% value down 9.1%,
 East – units down 14.3% value down 21.1%.
Diamond jewelry sales exhibited similar buying trends:
 West – unit sales down 1.5% value up 3.4%,
 Midwest – unit sales down 4.2% value up 0.6%,
 Southwest – unit sales down 7.3% value down 3.6%,
 Southeast – unit sales down 11.7% value down 11.4%,
 East – unit sales down 13.3% value down 20.3%.
Diamond jewelry sales bolstered the overall value of jewelry sales in the Midwest, while it had the opposite impact in the Southwest. Diamond jewelry sales in the East appear to be a significant indicator of the region’s performance.
The tightening of retailer margin provided insight into retailer behavior. Here are the margin trends by region (the numbers reflect percent change in margin, not change in margin points.):
 West – down 4.8%
 Midwest – down 1.8%
 Southwest – down 1.2%
 Southeast – down 4.6%
 East – up 2.3%
This shows that East coast retailers protected profits by increasing gross margin in the face of sharply lower sales. The opposite appears to be the case in the West where more attractive retail pricing drove increased sales at the expense of a reduced margin.


Regional insight provides wholesalers with inroads into understanding of managing product and sales. We will drive more into product differentiation by region in future reports.
Loose Lab-Grown Diamond Prices Keeps Sliding
In July, the average retail price of sold lab-grown diamonds declined 3.6% month over month. The decline is driven by pressures all along the value chain, from producers, through manufacturers to consumers. Each contributing their share of price pressure.
In another sign of the continuous decline in average transactions value, year to date sales rose 55.5% by units sold and 20.9% by value. The other takeaway from the YTD figures is that consumer demand has kept rising so far this year.
Gross margins kept rising, hitting a record 62.7% in July.
Also inching up is the average size of sold LGD, now up to 1.94 carats. Two carat items remain a sought-after item and as that trend continues, we expect to see three-carat LGDs in growing demand, pushing up the average size of sold loose LGD.
The price decline comes on top of a to a 5.7% decline in unit sales compared to June. It’s worth paying attention to this decline. This is not a loss of consumer interest, but a seasonal decline. Traditionally, July suffers from a slowdown in jewelry demand, and that’s what is dragging down LG sales.
The importance of this is a return to normalcy. COVID is gone, the post-COVID period has subsided, and now – for better or worse – jewelry demand is back to its past ebb and flow.
Market Share of Loose Lab-Grown Diamond Hits 50%
We first expected it in May, then for June and were off by a month, but it happened. The share of loose lab-grown diamonds sold by US specialty retailers is at the tipping point. Of all the loose diamonds sold in July, 49.9% were lab grown. Natural diamonds accounted for 50.1%.
This may fluctuate over time, but the trend for the coming year is one of growing LGD sales while natural diamonds remain at a relatively steady supply and demand, by which LGD gains share.
At the same time, it should be noted that by value, the share of lab-grown diamonds is just 25.2% of diamond sales.
Tenoris Diamond & Jewelry Reports Update
The Tenoris Diamond Report was refreshed, and a number of small tweaks were made to improve functionality. The report’s Loose Price & Cost page now has an expanded metrics table. They now provide a more detailed view prices on a of retailer loose diamond sales and purchases.
If you want to better understand the US jewelry retail landscape, contact us for a deeper and comprehensive understanding of the market and how Tenoris can help improve your business.
Source : Edahn Golan –


Blackstone-Backed International Gemological Institute Appoints New Global Ceo

International Gemological Institute (“IGI”), a Blackstone portfolio company, announced that Roland Lorie, current CEO, will step down after spending nearly five decades building the largest network of gemological laboratories and schools worldwide and playing a pivotal role in cementing its reputation as a pioneer in the certification of natural diamonds, lab-grown diamonds, colored stones and finished jewelry. Tehmasp Printer has been appointed as Global CEO of IGI, effective October 1, 2023.
Tehmasp Printer has more than 30 years of experience in managing and leading businesses. He has been with IGI for 24 years, most recently as Managing Director of IGI India, and was instrumental in introducing IGI’s grading and certification practices to India’s gemstone and jewelry industries.
Roland Lorie, current CEO, said: “Selecting Tehmasp as the new leader of IGI was effortless – he has been with IGI for more than two decades and knows the business inside and out. He brings a commitment to excellence and innovation that can help propel the company into its new chapter. On behalf of my family, we are incredibly proud of the stellar reputation, teams, and trust that we’ve built over the last 50 years. I feel it’s the perfect time to pass on the baton to new leadership, and my best wishes are with Tehmasp.”
Printer said: “I am honored to take on this new role, working closely with IGI’s management team and Blackstone to continue to support the growth of IGI’s footprint and technological capabilities. Roland and the Lorie family have left a lasting legacy for the business, which today has become a world leader in the certification of natural diamonds, lab-grown diamonds, and colored stones. I am confident that with Blackstone’s scale, expertise, and track record of building phenomenal businesses, IGI can continue to pave innovation in the industry and provide confidence to manufacturers, retailers and consumers around the world.”
Founded in 1975 in Antwerp by the Lorie family, IGI is a global leader in independent certification of diamonds, gemstones, and jewelry, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. IGI is the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. Since 2005, IGI has pioneered the certification of lab-grown diamonds, paving the authentication and standardization of a rapidly growing industry.
About IGI
The International Gemological Institute (IGI) has 29 laboratories and 18 education facilities in major diamond and jewelry centers around the world. For over 45 years, IGI has provided the fine jewelry community and consumers with a broad range of services including natural and laboratory grown diamond reports, colored stone grading and origin reports, as well as jewelry identification and appraisal reports. With the increase of lab grown diamonds in the marketplace, IGI screens millions of natural and lab grown diamonds in order for the industry and consumers to receive the product they expect. Regardless of location or marketplace, an authentic IGI Laboratory Report is the common language of trust and confidence in the gemological world.

Gjepcs IIJS Premiere 2023 Generates Highest-Ever Business of Over RS. 70.000 Crore

50,000+ visitors across 2 venues of Jio World Convention Centre & Bombay Exhibition Centre with 2100 foreign visitors.
The 39th edition of IIJS Premiere 2023, organized by the Gem & Jewellery Export Promotion Council (GJEPC), concluded with an overwhelming response generating its highest-ever business of over Rs. 70,000 crore for the trade. The second largest gem & jewelry fair of the world had 50,000 plus visitors at the two venues of JIO World Convention Centre (3-7 August) and Bombay Exhibition Centre, NESCO, Goregaon (4-8 August).
The paperless and fully digital IIJS Premiere accommodated 3,250 stalls and welcomed 1,850 exhibitors, spread over an expansive area of 70,000+ sq. mtrs of exhibition area across the two venues. The event witnessed more than 2,100 visitors from over 65 countries, including the USA, UK, UAE, Australia, Canada, New Zealand, Fiji, Saudi Arabia, Qatar, Iran, Muscat, Italy, Bangladesh, Bahrain, Kuwait, Germany, Turkey, Singapore, Thailand, Vietnam, Cambodia, Sri Lanka, and many more. The distinguished guest list included hosted delegations from 16 nations, elevating the event to an unparalleled international stature. More than 25 hotels were booked across Mumbai and had 10,000 room nights for the exhibitors and visitors! The event also had an Italian Pavilion at the machinery section and had exhibitors from 7 countries.
The grand show was marked with the distinguished presence of Shri Sunil Barthwal, Commerce Secretary, Department of Commerce; Mr. Mike Hankey, Consul General, Consulate General of USA; Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA; Mr. Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group; Mr. G.R. Radhakrishnan, Managing Director, GRT Jewellers India Pvt. Ltd.; Mr. C K Venkataraman, Managing Director at Titan Company; Mr. G.R. Ananthapadmanabhan, Managing Director, GRT Jewellers India Pvt. Ltd.; along with Mr. Vipul Shah, Chairman, GJEPC; Mr. Kirit Bhansali, Vice Chairman, GJEPC; Mr. Nirav Bhansali, Convener, National Exhibitions; Mr. Mitesh Gajera, Co-convener, National Exhibitions, GJEPC and Mr. Sabyasachi Ray, Executive Director amongst others.
Shri Sunil Barthwal, commerce secretary, Department of Commerce, engaged with international delegates and GJEPC board members at IIJS Premiere. Shri Barthwal said, “IIJS is one of the largest exhibitions of gems and jewelry in the world, and we can take pride in what we are doing. The gem & jewelry sector is a very important one for the Government because it is highly labor-intensive. It generates a huge amount of creativity among our youth and it is linked to not only the people who are cutting and polishing, but also designing jewelry. So I think this is one of the most versatile industries and it’s very important for us. As Government, we’re looking at the whole value chain of gems & jewelry, right from mining to the final selling. In particular, we’re looking to develop the studded diamond jewelry segment which is at the higher value end.”
Mr. Vipul Shah, chairman, GJEPC, said, “”IIJS Premiere 2023 has achieved unprecedented success, surpassing all previous records and exceeding our expectations. It has singlehandedly reversed market sentiments and kickstarted the business cycle into high gear, perfectly timed ahead of the festive and wedding seasons. IIJS Premiere 2023 is estimated to have seen business worth ₹70,000 crore being generated for the trade, which is far beyond anyone’s wildest dreams. As an exhibition, IIJS has truly come into a league of its own.”
Shah further added, “Drawing participation from 65 different countries, and a varied assemblage of over 2100 international buyers, this gathering holds the potential to breathe new life into the country’s exports in the months to come.”
Mr. Mike Hankey, consul general, Consulate General of USA, said, “I congratulate those in the gem and jewelry industry for the success of IIJS Premiere 2023. The United States understands the considerable importance of the diamond manufacturing industry to India and its immense contribution to employment that I’ve seen personally.”
Mr. Paul Rowley, executive vice president, Diamond Trading, De Beers Group said, “It’s clear from the success of IIJS Premiere 2023 that the landscape in India will be a perfect platform for growth. India was already one of the world’s top markets, but it has also been the fastest growing major market this year. We have a detailed and dedicated footprint and roadmap for global issues such as carbon footprint, traceability of diamonds, gem stones for the environment, socio-economic development and diversification, etc. Natural diamonds are the ultimate symbols of love and good work in the jewelry business improves the lives of all stakeholders.”
On this momentous occasion, GJEPC launched the logo of India Jewellery Park, Mumbai. Kirit Bhansali, Vice Chairman, GJEPC, who was previously the Chairman of India Jewellery Park, said, “The industry will be witnessing a burgeoning demand for gems and jewelry as things come to normal, not only in India, but also across the world. The new jewelry park, an ambitious project of GJEPC, stands as a testament to our commitment. Jewellery Park Mumbai is an innovative venture, a first-of-its-kind integrated gem and jewelry industrial park, designed to encompass manufacturing units, commercial spaces, residences for industrial workers, and comprehensive commercial support services. This strategic initiative will undoubtedly provide valuable assistance to jewelry manufacturers and traders seeking to expand their presence in Maharashtra, fostering new businesses and fortifying existing ventures. Moreover, this transformative undertaking is projected to generate an additional 1 lakh jobs in the sector, thereby contributing significantly to the region’s economic growth and employment opportunities.”
Mr. Nirav Bhansali, convener of National Exhibitions at GJEPC, expressed, “I wish to convey my appreciation to both Exhibitors and visitors for their incredible support. We saw a remarkable turnout of over 50,000 visitors hailing from 1100 cities across India, marking this as the most expansive IIJS Premiere to date. The occasion also saw a substantial presence of more than 2,100 visitors from across 65 nations.”
Announcing the success of the “One Earth” initiative, Nirav Bhansali said, “Since the beginning of this year, GJEPC has embarked on a transformative journey towards environmental sustainability with the launch of the ‘One Earth’ initiative. We are proud to announce that the initiative has surpassed all expectations, achieving the target of planting 1 lakh trees. This remarkable accomplishment is not only making a positive impact on the environment but also generating an astonishing Rs. 100 crore for marginal farmers, fostering robust economic growth in rural communities. Moreover, our collective efforts will lead to a reduction of 40,000 tons of Carbon dioxide, and will produce an impressive 67,000 tons of vital oxygen and create 220 acres of lush green cover, nurturing biodiversity.”
Pritam @ IIJS Celebrations – Legends of Gem & Jewellery
IIJS Premiere felicitated the luminaries of the Gems & Jewellery industry recognizing their outstanding contributions with their dedication and passion that not only elevated the industry but also inspired generations of craftsmen and entrepreneurs. Post which IIJS witnessed a night of celebration and joy along with renowned singer Pritam who graced the industry with his mesmerizing melodies.
Jewellers for Hope
GJEPC has also helped raise funds for 13 NGOs over the last 7 years, positively impacting millions of lives. GJEPC hosted the 8th edition of its esteemed charity dinner, ‘Jewellers for Hope,’ at a glittering event, and the proceeds of the charity dinner were donated to Relief Projects India, a leading NGO focussed on women-child centric issues and education. The event was attended by industry leaders and philanthropists where leading actor Vicky Kaushal personally attended this event on behalf of Relief Projects India and spoke about the organisation and the impact it has created in India. Relief Projects India is a dedicated non-profit Trust committed to making a positive impact on the lives of the less fortunate through education, health, and awareness initiatives. The NGO’s primary focus lies in addressing critical issues such as female infanticide, foeticide, boy-child preference, and the challenges faced by women and children in rural villages.
Vicky Kaushal said, “I would like to extend many thanks and gratitude to Jewellers for Hope and GJEPC for recognising and supporting a cause which is so close to my heart – Relief Projects India (RPI). I am extremely proud of the work that RPI has put in over the years for their education programme – Mountain View School, which is dedicated on providing quality education and a safe environment to all underprivileged kids in the area. I hope and wish that you all continue your support towards all such noble causes in the years to come as well.”
IIJS introduced an initiative, Innov8 Global, for the first time, facilitating tailored product-specific matchmaking between international buyers and manufacturers. This innovative platform aims to enhance business interactions and foster productive partnerships like never before.
 The IIJS Premiere 2023 witnessed a defining moment as GJEPC 40 Under 40 initiative celebrated exceptional talent and innovation within the industry. This recognition ceremony, moderated by the illustrious Manisha Gupta, Commodities Editor at CNBC TV 18, was graced by influential luminaries as mentors – Mr. Sachin Jain of Forevermark, Ms. Vaishali Banerjee representing PGI, Mr. Colin Shah from Kama Jewelry, and Mr. Bobby Kothari of Jewelex. Also present at the event was Mr. Vipul Shah, Chairman, GJEPC; Mr. Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions, GJEPC; Mr. Sabyasachi Ray, ED, GJEPC. These industry titans, synonymous with brilliance and achievement, lent their aura to this prestigious occasion, igniting inspiration in the emerging leaders of tomorrow.
More than an accolade, the GJEPC 40 Under 40 initiative symbolizes a movement toward innovative synergy, a collaborative symphony of exceptional minds. Chairman Shah elaborated, “The 40 Under 40 initiative is not just about recognizing individual achievements; it is about fostering a culture of innovation, collaboration, and collective growth.” The luminary winners, a beacon of potential and transformation, are poised to shape the future trajectory of the industry, poised to kindle positive change.
In line with its commitment to sustainability and convenience, IIJS Premiere 2023 took a giant leap towards eco-consciousness by going completely paperless. Attendees enjoyed the ease of fully digital badges, making their participation seamless and environmentally friendly.