Diamond Business

Diamond Business Flat

The IDJ or Israel Diamond Institute was the prime sponsor for the largest Israeli diamond pavilion.  To date the recent Hong Kong Jeweler Gem Fair where diamond business flat. Diamond dealers were hoping for one last chance to trade at a successful rate.   before the IDE, or Israel Diamond Exchange closed for summer break between August 10th and 22nd. However, their selling results were mixed. Weakening polished prices left many of the 80 Israeli companies exhibited at the Hong Kong show dissatisfied.

Diamond Business in June

Although this trend was evident, it is common that the June show is slower than other shows year-round. According to that knowledge, it is possible to say that in comparison to past years, this year June sales were actually "moderate." The chief marketing officer for IDI, Nissim Palomo, noted that even though the show which took place a few weeks after the JCK Las Vegas show had ended, is considered the least important of the three Hong Kong trade shows, it is still attractive to some companies because it is currently the only Honk Kong show that incorporates diamonds, jewelry, and gemstones in one arena.

Diamond Business at the Hong Kong Show

The Chief Executive Officer of Niru Group, Ranjeet Barmecha, shares that the Hong Kong show was a challenging one in terms of sales to locals.  However, his company's regular clientele were still present. And they were able to put in quality orders per-usual. The Niru Group specializes in baguettes, tapers, and princess-cut diamonds. The managing director of Lili Diamonds, Dotan Siman-Tov, also enjoyed a booth at the Hong Kong show, where diamond business is flat, made a note that it is generally becoming more difficult to stand out in the midst of the large market. He asserts that the market has become more competitive throughout the years.

Diamond Business and Niche Marketing

He points out that each year the exhibitors and the shows are growing. "I don't think there are enough buyers in the world today. If ten years ago I was on of the only ten Israeli companies exhibiting in Hong Kong, today there are almost 100 companies. So any way you look at it, the market is being divided. You can't sell in the same way that you sold ten years ago, " Siman-Tov states. He makes sure to stress the vast importance of creating a unique niche for yourself or a selling point that will attract and retain buyers in this business. He believes that a strong branding background will aid manufacturers in the market to improve their profits. With clients that are constantly looking for something unique in today's market, companies that lack this distinctive selling point or a unique product will find it more difficult to take their share of the market. He believes that a strong branding background will aid manufacturers in the market to improve their profits. He explains that clients that are constantly looking for something unique in today's market.  And that companies that lack this distinctive selling point or a unique product will find it more difficult to take their share of the market.

Diamond Business and Competition

"Competition today is much stronger because of the growing technology and internet.  And not only in the diamond and jewelry business. Companies that are not looking a few steps to the future will not be in the game," says Siman-Tov. At the close of July, diamond business flat due to the competition in the market. Trading patterns in the IDE remained quiet with activity further impacted by the U.S summer vacation. Barmecha notes that although locally the market was a bit more quiet. The overseas orders put in were sufficient enough to spur business. Another dealer mentions that although trading over summer vacation has been a little quieter.  Strong bourse activity also depends on traders that are moving from one show to the next, with dealers now looking towards the Honk Kong September show. The IDI is trying to create new marketing outreach programs.  Furthermore, the IDI has recently announced an alliance with the Texas Jewelers Association.  They intend to hold the first Texas-Israel Diamond Show in San Antonio, Texas from September 29-30. This show will run in conjunction with the TJA's annual convention from September 27-30, which aims to introduce the Israeli diamond dealers to jewelers in the Greater Texas areas. This creates an exclusive diamond buying opportunity for members in the trading business.

Diamond Business and Israel

Approximately 20 exhibitors from Israel will take part in the show.  The show will is held at the ballroom of the St Anthony Hotel. Palomo believes that while this is the first year for this show, " If it is successful, we have plans in the coming years to develop it and make it into something bigger." Although the diamond business flat at the Hong Kong trade show, the Jovella show in Tel Aviv held 250 exhibitors.  Eleven companies from the IDE led by its President Shmuel Schnitzer exhibited at Jovella in order to promote the diamonds and gem sets in Israel. Jewelry Trade Show http://www.jewellerynetasia.com/en-us/israeldiamondinstitute/about-us/513 Diamonds Help Engagement Rings Wholesale Diamond Industry Diamonds Suffer Diamond Demand Holiday Diamond Sales Grading Diamonds Global Diamond Production Chinese Diamond Industry Diamond Price List Hong Kong Diamond Market Jewelry Industry Technology Diamond Consumers Diamond Industry