FAST FACTS: 8th Edition Exhibitors 550+ Booths 1,100 + Visitors 10,000+ DAY 4 The Monday 23rd February, 2015 Although the overall market is slow, Signature 2015 was an extremely successful show for many. Several exhibitors showcased new and innovative concepts which were well appreciated by serious buyers who visited the show. The gold jewellery section was one happy lot as lower gold prices as well as the signs of lower import duties coming into effect post the Budget added to the optimism in the section. BROUGHT TO YOU BY SOLITAIRE INTERNATIONAL FOR THE GJEPC Signature Evokes Mixed Response Bhavik Shah, owner of R.P. Ornaments, Rajkot, commented, The show has been superb for us. Many major retailers who we would have liked to tap visited us. This year, apart from our regular Rajkot jewellery, we showcased variations in our lightweight collection cast in 18- and 22-karat gold called Eva that takes inspiration from Italian gold jewellery. We mainly deal in bread-and-butter items but at the same time offer an element of design. That is the reason for our success. Well-known gold jewellery designer Anand Shah from Mumbai was extremely busy attending to buyers right from day one. I have been meeting my old, faithful clients right up to late in the evening. Each retailer has placed a minimum order of 2 kg of gold jewellery, said Shah. Arvind Chordia of Saaz Jewels, Mumbai, has been a Signature participant for the last three years. Focusing mainly on exports as well as the north Indian market, Chordia interacted with old and new buyers at the show. Retailers are picking up lightweight jewellery. Necklaces in the range of 50-60 gms and pendant sets in the range of 30-35 gms are doing well. The gold price is on the lower side which is good for sales, noted Chordia. (continued on page 2)
COVER STORY (continued from page 1) Chennai-based Jai Gulab Dev did brisk business at the show. Retailers have placed orders from 100 gms to over 1 kg for our lightweight 22-karat temple jewellery collection. Each piece is handcrafted and takes over a month to complete. We interacted with new and potential clients from Surat, Kolkata and Delhi, said Vikas Jain, owner of the firm. The studded jewellery section was comparatively slower, though some managed to shine through. Sahil Agarwal of Shubham Motiwala & Jewellers, Mumbai, said that the show has been average for them. Even then, we received queries from all over India as well as buyers from Saudi Arabia and Dubai. Lightweight necklaces between 20 gms and 30 gms have done well. The show is 15-20% slower than last year. First-time participant Ravi Sacheti, partner, V. Sacheti, Jaipur, was satisfied with the attention his jewellery managed to garner. This is our first trade show in India and we are targeting high-end retailers. We have received a few enquiries from Mumbai itself. Being our first year, we are aware that it will take a while to get noticed. We are happy that the potential buyers who visited our stall appreciated our jewellery, said Sacheti, who showcased eloquent arabesque jewellery inspired by Indo-Persian art. Abhay Zaveri of Abhay Navinchandra, Mumbai, summed up the mood in the Signature Club. The first two days of the show were good, while the third day was slower. Serious buyers are looking for quality jewellery with new concepts, although we noticed that there are fewer buyers from the North, said Zaveri. The loose gemstones section felt that they were a neglected lot. While colour gemstone exhibitors managed to conduct some business, loose diamond exhibitors lamented the lack of visitors as well as the timing of the show. Anand Shah, vice-president sales, Asian Star, Mumbai, said, Signature is always slow for the loose gemstone section but even then this show has not lived up to our expectations. The Hong Kong show in March is the biggest trade fair for loose gemstones so our clients would prefer to meet us there rather than coming to Signature. Also, I feel January is a better time for Signature as it will give our buyers a two-month gap before Hong Kong. Pratish Popat, director of J.K. Gems & Jewellery Pvt. Ltd., Mumbai, deals in Colombian emeralds. There is a demand for emeralds despite the market being slow, said Popat. On asked how he fared at the show, he said that if Signature is not timed better, it will turn into a show for jewellery manufacturers. Anil Punjabi of Tahilram Tirthdas Jewellers, Mumbai, informed that they had fared well. We got to meet actual buyers and I would say we did the same amount of business as last Signature. White sapphires in rose cuts, a great, cost-effective substitute for diamonds, and good quality South Sea pearls are still very popular. Market for emeralds is slow because of non-availability of natural product. A good quality emerald costs from Rs.20,000 to Rs.300,000 per carat. Mozambique rubies ranging from Rs.2,000 and Rs.25,000 per carat are popular because they are flat and big in size. DESIGN CORNER Iran Prefers Diamonds To Gold: Faraz Javaheri Amin F araz Javaheri Amin, GJEPC s coordinator for Iran brought a 12-member delegation to source loose diamonds, gemstones and jewellery at Signature. Generally I have a large contingent of about 30-70 people, but currently the overall market is not so good. The Middle East has been hard hit by the low petrol prices which, in turn, have also affected the world economy. Iran is a very big market for jewellery and women in the country predominantly prefer diamonds to gold. Diamonds, emeralds, rubies and sapphires as well as semi-precious stones are popular in Iran. There are about 60,000 jewellery shops in Tehran alone. Isfahan, Tabriz, Shiraz and Ahvaz also have a large number of jewellery shops, informed Amin. GJSCI & IIGJ Jaipur Ink MoU T he Gem & Jewellery Skill Council of India (GJSCI) signed a Memorandum of Understanding with the Indian Institute of Gems & Jewellery (IIGJ), Jaipur under which the latter has been designated as a Centre of Excellence for the gems and jewellery industry. The MoU was signed in the presence of office bearers of GJEPC and GJSCI as well as senior representatives of the industry during the Signature show. Working closely with the GJSCI, the IIGJ will now execute multiple programmes related to training and skill development, with an initial focus on certification programmes under Recognition of Prior Learning (RPL) for artisans already working within the industry who have never received formal training or certification. Prof Dhiraj Kumar, Principal, IIGJ Jaipur said that GJSCI has already developed a set of benchmarks and parameters for the RPL programmes. Qualified personnel of IIGJ will work with companies and organisations to assess the skill levels of the workforce and issue certificates accordingly, he added. Binit Bhatt, COO, GJSCI said that in some cases, after a Skill Gap analysis, the artisans will be given an opportunity to undergo training to upgrade their level. Over the next year, the two organisations plan to cover about one lakh or more artisans under the scheme, and GJSCI has already signed agreements with governments in West Bengal and Kerala as well as organisations in Surat and Rajasthan for this purpose. In the longer term, IIGJ and GJSCI will also work together for 3600 development of existing gem and jewellery training centres, create new training centres and carry out periodic monitoring to ensure that quality levels are maintained. 2 Dhiraj Kumar and Bhatt said that the government has also encouraged the development of multi-skilling centres, which may include the possibility of working with existing ITIs to introduce new training schemes, upgrade quality and infrastructure, and help the gem and jewellery industry meet its estimated requirement for 4 million new trained personnel over the next 10 years. (gjepc.org)
DESIGN CORNER Design Is Everything: Manish Bhindi A painter and a jewellery designer, Manish Bhindi of Bhindi Manufacturers, Rajkot, is an ace artist who loves to surprise his audience with new one-off Villandi creations every time he exhibits at Signature. This time, he has wowed one and all with his superlative gold and uncut diamond jhumkis and necklace sets. Tell us about your experience at Signature? We have taken part in Signature right since its inception in Goa in 2008. This year, the response at the show has been very good. You are known for your traditional, antique lacelike jewellery pieces. What s new this year? We launch a different collection every year and introduce variations in our designs each time. We make only one piece of each design and never repeat it, so every piece is, in fact, a masterpiece. This time, we have launched antique-finish danglers with asymmetrical tassels and two- and three-drop jhumkis. The long necklaces or chokers aesthetically bring together matte finishes with glossy gold motifs. As a designer what inspires you? We believe in launching a new collection for every exhibition. Last year, at Signature we launched the Sparkle collection of Italian-style jewellery made in Rajkot. For IIJS 2014, we launched the Nature collection of leaf-inspired gold jewellery. This year, at Signature we have unveiled the jhumki collection. We always use 22-karat gold, uncut diamonds and Swarovski cubic zirconia. Our products generally range from 15 grams to 45 grams. The feedback from visitors has been very encouraging. Anyone who passes by our stall ends up pausing at our jhumki window display. You specialise in antique craftsmanship, so how did you make the transformation to modern concepts? Who designs your jewellery collections? I m a self-taught painter and I design jewellery as well. We have a team of designers and my daughter, too, has recently joined the design team. Designing a collection is a joint effort and we all work on the concepts together. Our creativity is fuelled by the need to create a fresh collection each time. Our collection of jhumkis made a strong impression. Pieces from the jhumki collection featured in every single order placed by our buyers at Signature this time. Design is everything. An aesthetic piece of jewellery sells irrespective of the economic conditions or any such external factors. A strong design attracts customers without us having to go in search of a buyer. Do you export jewellery? We export to the US, Dubai and the UK. We develop our own gold textures and die systems at our in-house factory in Rajkot. We also retail under the name K.D. Bhindi Jewellers, which is looked after by my elder brother. 4
BRAND WATCH Versatile Accessories K IK Jewells, a unit of Mahabir Danwar Jewellers Kolkata, showcases its contemporary handcrafted diamond jewellery at Signature 2015. Circular motifs are decorated with full-cut and uncut diamonds and offset with rubies, emeralds and pearls. The jewellery carefully balances Indian and Western elements, making them versatile and must-have accessories. Colour Rush D esert Jewellers blends the vivacity of coloured gemstones with the brilliance of diamonds to present an irresistible jewellery collection. Set in 18-karat gold, the jewellery is decorated with mystifying emeralds, bloodred rubies, deep blue sapphires and tanzanite. The eye-catching pieces not only spruce up one s attire but also add a hint of colour to the evening. Pearly Jewels S hubham Motiwala has mastered the art of making jewellery with natural small pearls also known as khaka moti. The handcrafting technique involves weaving pearls on gold shells. Khaka motis are 1mm or even smaller than 1mm in size and are cultured in fresh water molluscs. This Signature, Shubham Motiwala presents a stylised collection inspired by the peacock feathers. The designer collection pleases the eye and has a vintage touch to it. Pearls take pride of place in the collection that includes bangles, necklace and pendant sets and chokers. World-class designers bring to life the beauty of pearls manufactured by Shubham Motiwala. 6
BRAND WATCH Bejewelled Finery S olid Gold bridges the divide between traditional and modern gold jewellery with its fine fusion necklace sets. Elaborate details come to life with traditional craftsmanship, juxtaposed with newer formats that lend a modern air to the yellow gold collection. The inclusion of rubies, emeralds, gold beads and vibrant enamels further enrich the necklace sets. Designer Offerings E on Jewellery, a jewellery manufacturing off-shoot of Dharmanandan Diamonds, showcases an elaborate set of new collections for this Signature edition. Offering budgetfriendly designer jewellery, the collections encompass rings, earrings and pendants. The Auspicious collection is centred on rubies and diamonds while the Cluster collection features round diamonds set in clusters, giving the illusion of a larger solitaire. The Contour collection embraces curvaceous designs and comprises delicate rings. Elegant A Patterns clutch of cutesy daily wear collections are being introduced by Shrenuj this Signature. Among them is Gridnotize, a fusion of elegant Indian forms with a synchronized play of negative and positive spaces set with diamonds at different levels. The Glamoscope line is inspired by the circles of life, and colours and diamonds create patterns to bring out the pure essence of beauty in jewellery. 8
BRAND WATCH Colours of Joy D iagold showcases its latest collection, Coloré Bijou that is symbolic of the colours of life. Combining diamonds with brightly hued gemstones, the collection is apt for spring-summer. Earrings, rings and bangles in floral motifs are elegantly decorated with rubies, emeralds, sapphires and pearls. Intricate Detailing A rham Jewellers of Mumbai showcases its latest designs in Calcutta work. Inspired by nature, the collection of statement rings captures the beauty of flowers in warm, yellow gold. The necklace featured here deftly combines bead work with wire work and enamelling and is the perfect accessory as it complements Western as well as Indian wear. Gold Accents B havesh Jewellers encapsulates the beauty of flowers in a gold necklace set from the Panache collection. Accented with kundan-set polkis and rubies, the necklace is teamed with matching earrings that also feature delicate wire work. The peacock-inspired pendant set fashioned in gold mimics the iridescent hues of the bird s plume and suspends a rubycentred teardrop outlined with gold beads. 10
INTERVIEW OF THE DAY Tremendous Potential For Indian Firms In Japan: Atul Parekh ATUL PAREKH, president Infinity Creations, and the Japan coordinator for the GJEPC, shared his views about opportunities in the Japanese market for Indian companies. How many Indian manufacturing companies have set up in Japan? Indians are very enterprising. They are not just selling diamonds but also buying diamonds in Japan. They have developed a whole two-way system in Japan. Earlier they came just to sell. Now they are selling large diamonds and are buying small diamonds. Some of the companies are buying more than selling. Why is that? Unlike in India, diamonds are not purchased as an investment in Japan. Consumers do not hold on to products and constantly look out for new, innovative products. Brands are coming in a big way to Japan so the Japanese would rather sell their old jewellery and buy something that is different. That s the reason why brands are doing very well while the local retailers are suffering. Which kinds of brands are present in Japan? Any and every major international brand has a presence in Japan. Every brand has invested in property and owns not just one but multiple retail outlets in the country. What kind of jewellery does the youth of Japan prefer? A lot of brands are now turning their jewellery around to suit the Japanese market. The Japanese youth prefers something that is simplistic, trendy, and of good quality. It is not necessary that the pieces must be small, but at the same time they don t want to be ostentatious. All the young people are buying and are getting back in to jewellery. Our biggest competitor is the iphone which is drawing their income away. Japan is finally out of the clutches of recession, so how do you see the future shaping up? Japan is trying hard to increase its inflation. There was a constant deflation so prices were not increasing. Now the new government s manifesto is to increase inflation by a minimum of 2%. They have decreased the yen value so prices have gone up, whereas India is trying to decrease its inflation to 2% from 13-14%. So that s the big difference. Today, Chinese consumers are buying in Japan. The influx of Chinese and Korean buyers is so much that the Japanese retailers have signboards in Chinese, Korean and Japanese languages. Earlier, the Japanese would go to Paris and London. Now the rest of Asia is coming to Japan. Are the Japanese brand-conscious? Not everybody wants a known brand. They are happy to buy jewellery that has a certain image. The Indian definition of a brand is quite different from what the Japanese consider as a brand. For them a brand is innovative, unique and has a signature something you can identify and recognise and is of high quality. We don t have much of a signature or product differentiation in India. We have stores in Japan asking us if we can bring something different from India. They don t want to buy Chinese products any more. They want to just sell to China. And the Chinese themselves don t want Chinese products because they know it s sub-standard. Do the Japanese like fine quality diamonds? The Japanese are not diamond-centric. Hardly anyone asks about the quality of diamonds unless it is an engagement ring or a solitaire. Engagement rings constitute some 30% of all jewellery sold in Japan and that is big. They want diamonds that range between 30 points to 70 points. Is there any message for the Indian manufacturers who want to sell jewellery in Japan? I think it is important to explore new markets. Currently, no Indian is making the effort to woo the Japanese market, which is a sad situation. Indians are not aware of what the Japanese consumer wants and do not have first-hand information of the market. They base their assumptions on hearsay. So do you think Indian jewellery if adapted to Japanese sensibilities can do well? Absolutely. The Japanese want something different. Every department store is looking for new, unique products. I think India has tremendous potential to do well in Japan. Every global brand in Japan is doing huge business. Japan is also opening up to metals like silver. They want their jewellery to have an element of fashion as well. They don t care about pricing, if they like the product they will buy it. I think Indians can have a better margin comparatively but the effort is in making jewellery to cater to their needs. Where does Japan import jewellery from? Primarily from Italy, Hong Kong and China. The total import of jewellery compared to the domestic market is less than 10% if you leave the big brands out. It is only recently that the big brands have expanded in a big way. They are aggressively into the market because they see a future, which India is not willing to explore yet. A long 22-karat antique gold necklace articulated with fluted buds lined with polkis and gold beads, suspends an elaborate temple jewellery pendant framed with a crescent-shaped edge of baguettes, gold beads and a pearl drop. RBZ Jewellers, Ahmedabad EDITOR S PICKS The New-look Necklaces At every Signature show we tend to spot numerous designer pieces that are awe-inspiring. Some, though, are worthy of a second look! Here is a collection of necklaces that stopped us in our tracks. The 22-karat antiquefinish neckpiece is composed of asymmetrical motifs set with navratna gems. Jasmine Design, Jaipur 12 The grand five-row emerald necklace is decorated with large uncut polkis in bellshaped flowers. Birdhichand Ghanshyamdas Jewellers, Jaipur A 22-karat peacock in full display with etched gold and painted feathers takes centre stage in this two-row tanzanite necklace that ends with a vintage kundan-set motif. Anand Shah, Mumbai
REGULARS AT YOUR SERVICE Online Business Matching Programme: The Online Business Matching Programme enables registered visitors to find and interact with exhibitors that match their business profile. It allows visitors to post their business-related enquiries, view the latest collections, send enquiries and schedule appointments. Managed by experienced representatives, the kiosks are located throughout the halls. IDEX Diamond Kiosk: The IDEX Diamond Kiosk lets visitors check the stocks and pricing of all the loose diamond exhibitors at the fair. Elite Club Lounge: The Elite Club Lounge, located at Hall 1 centre square, offers food and beverage services to privileged members, who can enjoy a quiet moment, network with industry colleagues and enjoy light refreshments provided by Costa Coffee. Coffee Shops & Cafeteria: Grab a cup of coffee or a sandwich at any of the outlets located throughout the halls catered by Costa Coffee, Barista Lavazza, Cafe Coffee Day, Pico and Subway Sandwiches. Additionally, the cafeteria located at the open bay near Hall 5 provides a delicious spread of vegetarian food, including meals for members of the Jain community. Shuttle Bus Services: Bus shuttles will be provided to exhibitors from the official hotels Grand Hyatt, Sofitel & Hyatt Regency to the venue at specific timings from Gate No. 2. A shuttle service will also be provided between Goregaon station and the exhibition centre. Business Centre: A full-fledged Business and Communication Centre is set up in Hall 1 for your convenience. Facilities like internet access, meeting & conference rooms, photocopying and fax are available on a chargeable basis. First Aid: Halls 1 & 5 have dedicated first-aid booths with a doctor and nurse ready to tend to any medical emergency. An ambulance will also be present at the venue outside Hall 2. In case of any medical emergency, contact Deepak Sakpal (+91-9820287631) or Reshma (+91-9820021743). Smoking Lounge: Smoking is strictly prohibited in the entire exhibition area. A smoking lounge facility has been provided at the connecting tunnel. Signature Mobile App Scan the QR code with your smartphone or tablet to receive up-to-the-minute information about the show s details, highlights, interactive floor plan, exhibitor directory and more. Editorial, Design and Production www.spentamultimedia.com Disclaimer: Material in this publication may not be reproduced, whether in part or in whole, without the written consent of Spenta Multimedia or the GJEPC.