DAY 2 Signature 2014 Has Plenty On Offer T he seventh edition of Signature got off to an optimistic start yesterday amid a challenging economic backdrop. This edition is one of the largest ever with more than 560 exhibitors participating in the show and over 10,000 visitor registrations. The display areas were replete with exciting new designs that drew a lot of serious buyers, especially in the gold section. Signature 2014 was inaugurated by the chief guest Dr. Hassan Fakhro, Bahrain s minister of commerce and industry, and the guest of honour, Andrey Polyakov, vice president of Alrosa. They were joined by GJEPC chairman Vipul Shah, vice chairman Pankaj Parekh, and convener of the exhibitions sub-committee (national), Nirav Bhansali. It is a great honour to be with you all this morning at the inauguration ceremony of the seventh edition of Signature. It is also a pleasure to be here in India, which is a country dear to our hearts, said Fakhro, wishing the exhibitors good luck. This past year has been a trying one for the Indian gem and jewellery industry, which has had to work harder due to the adverse economic conditions and unfavourable government policies. The downside of the 80:20 gold import rule has been the tremendous increase in gold smuggling. The only way to counter this is to reduce the import duty on gold once again. I am hopeful that the government will relax the 80:20 rule and go a step further by extending the 3% interest subversion scheme to boost the industry, said Shah. Today, Signature is rated as the second-best show after the IIJS by the international gems and jewellery fraternity. Bhansali added, The previous two years have seen difficult times, and (continued on page 2)
Spotlight It s Time To Re-balance Our Policies With India Andrey Polyakov Vice President, Alrosa What percentage of Alrosa s annual production currently makes its way to India? Our current production is around $5 billion. I think less than quarter of that right now is directly sold to India. But at the same time, a lot of Indian companies based in Antwerp buy from us. When we discuss long-term contracts with our Indian friends, they sometimes ask us to supply the goods to their Europe division or Dubai or directly to India. During our discussions in Surat, diamond manufacturers said that they wanted more rough supply directly to their factories. I m glad to hear that because we, too, want the same. What is Alrosa s long-term plan for India? One thing is clear, it s time to change. The old three-year long-term contracts are finished and we need to launch the new ones. We want to rebalance our policy. You need to know a little about Alrosa s history. Ten years ago, we practically sold all rough through the Diamond Trading Company (DTC). We were a part of the global cartel. When the cartel disintegrated, we started to sell independently with only 15 companies. Most were from Belgium, although some were Indian-owned. Today, after Alrosa s initial public offering (IPO), our investors want us to be closer to the manufacturers and the retail end. During our discussions with our colleagues in Surat yesterday, we noted that there is a threat of synthetics. The local industry deals mainly in small diamonds. Tomorrow, if someone discovers synthetics mixed with natural diamonds, it will be a huge problem for a public company, not just here in India but across the globe. We need a triangular partnership between the rough miner, the manufacturer, who guarantees quality and ensures that there is absolutely no synthetic, and the retail sector. I think that is the way to move forward. Alrosa was once spearheading the generic diamond marketing initiative. Where do things currently stand? That s the oldest question on everyone s mind. In the days when Alrosa was a partner of global DTC A New Trade Show, For A New Audience production cartel, we sold everything to them and they paid for generic marketing. Now we can t even discuss it, because our relationship is prohibited by the European Commission. But at the same time, we have seen that the younger generation prefers branded bags and iphones to jewellery. And with all due respect, we are not like Swarovski. We incur a lot of expenditure on diamond mining to maintain our business. We even discussed future possibilities with Vipul Shah, from the point of view of generic marketing. Because there are many really interesting markets for diamonds; the domestic market in India is growing and people are culturally accustomed to buying gold, but are warming up to diamonds. Similarly, in Brazil, coloured gemstones are currently popular and the next step maybe diamonds for them. As far as a generic marketing campaign for diamonds is concerned, I hope we will arrive at a decision soon with our manufacturer colleagues. (Cover Story continued from page 1) it has been the unrelenting support of the committee of administration, the Signature sub-committee, and the support of highly respectable members whose efforts have enabled the Council to spearhead the industry into the $39 billion colossus that it is today. We look forward to heightening the glory of our achievement thus far and forging ahead with a single most important purpose to establish India as the world s gem and jewellery hub, he added. The Global Gem & Fair (GGJF) was officially announced by the Dubai Multi Commodities Centre (DMCC) and the Gem & Export Promotion Council (GJEPC) at Almas Tower in Dubai on February 5. The GGJF will be held for the first time at Atlantis, The Palm from March 20-22. As a flag bearer of India s rich jewellery heritage, the GJEPC has promoted the country s gem and jewellery trade through successful shows like the India International Show (IIJS), Signature, and the India International Week (IIJW). It now presents the first ever GGJF that will showcase the best gems and jewellery from 130 exhibitors from India and the Gulf Cooperation Council (GCC) countries. The three-day event will provide an ideal platform for international buyers and sellers as they seek to trade top quality gems and couture jewellery. High profile retailers, wholesalers and agency buyers from Saudi Arabia, Egypt, Lebanon, Bangladesh, Singapore, Eastern Europe, Russia, South Africa, Sri Lanka, Turkey, Pakistan and Malaysia among others have confirmed participation in the show. Conceptualised as a cash and carry show, the GGJF will allow visitors to take immediate delivery of goods, saving time and effort and eliminating the hassle of delivery and payment issues at a later date. The UAE alone accounts for 40% of India s gem and jewellery exports. Home to the world s most iconic luxury brands, Dubai has emerged as a cosmopolitan metropolis offering an idyllic backdrop for the prestigious GGJF 2014. Speaking at the press conference during the inauguration, DMCC executive chairman Ahmed Bin Sulayem said: It is vital to continuously create new opportunities to nurture international relations with strong trading partners such as India. That is why we are collaborating with the GJEPC to introduce the inaugural Global Gem & Fair to the region and the GCC market. We are proud to host this event and to welcome industry participants from across the globe to Dubai. The GGJF combines Dubai s strength as a leading global trade hub with India s unmatched position as the world s top exporter of diamonds, with a one-fifth share of total gold consumption worldwide. Dubai s ideal location between the producing and consuming nations along the New Silk Route and its first-rate infrastructure, including world-class cargo facilities, ports and airports that connect to over 220 destinations, make it the ideal venue to host the GGJF. GJEPC vice-chairman Pankaj Parekh said: India s role as the sourcing centre for diamonds and precious stone jewellery is renowned worldwide. For years, traders and visitors to India have enjoyed our craftsmanship, quality, design and cost efficiency. Now it s time we return the gesture and bring the source to Dubai the most promising destination for the gemstones and jewellery trade in recent times. GJEPC is pleased to collaborate with DMCC, which has established itself as the largest free zone in the UAE and has emerged as the international leader for commodities trade and enterprise in just over a decade. It is DMCC s unrivalled track record combined with the determination to succeed that secured for Dubai the inaugural GGJF 2014. Being a premier invitation-only international trade fair, some 500 select buyers from across the globe will liaise with exemplary manufacturers and establish ample business opportunities, said GJEPC convener international exhibitions, Saunak Parikh. The UAE is a global hub for the gold bullion and jewellery trade, with gold jewellery consumption estimated at $2.5 billion, making it one the top five in the world alongside China, India, the United States and Russia. 2
Brand Watch Gem Of A Kind Manoj Ornaments brings a new twist to Navaratna jewellery with its latest collection that is being showcased at Signature 2014. The range uses the nine sacred gems in contemporary layouts to fit the modern lifestyle of women. Encompassing necklaces, pendant sets and rings, the collection revamps traditional navaratna jewellery into chic artwork. Featured here are some pieces from the latest collection as well as some statement diamond and colour stone jewellery. Resplendent Royalty The latest collection from Sanskriti inspired by the art and architecture of erstwhile princely Rajasthan recreates the flamboyance, opulence and splendour associated with royalty. Featured here is a broad bracelet studded with diamonds, rubies and emeralds. The floral earrings emulate the swirls depicted on the walls of historical monuments, while the layered pearl necklace is held with a diamond paisley clasp with cascading tassels set with uncut diamonds. Fancy Whirls Zunda showcases its grand Rounds & Beyond collection at Signature 2014. Taking consumers on a journey that explores the world of fancycut diamonds, each jewellery piece is embellished with marquise, pear, heart, trillion, princess, baguette, oval and round diamonds with natural fancy colour diamonds for an added dose of vibrancy. Handcrafted in 14- and 18-karat gold, these diamond dazzlers are sure to send you in a whirl of delight. 4
Brand Watch Poetry in Polki Kinu Baba of Jaipur showcases its latest polki (uncut diamonds) collection accented with coloured stones. Made in 14-karat gold, the nature-inspired designs infuse poetry into each piece. Featured here is a resplendent bridal polki choker accented with rubellites, tsavorites, sapphires, citrines, rubies and emeralds. If minimalism is your style opt for the lighter floral bridal necklace or go solo with the floral danglers. If you are not fainthearted, sport the lovely fulsome choker set with polkis and precious gems. Grand SIGNATURE CLUB Necklaces Sawansukha Jewellers of Kolkata showcases its fine bridal jewellery including fulsome chokers and necklace sets. These necklaces pictured here lend a perfect sheen to any bride-to-be. Pick the fancy-cut diamond necklace for an air of contemporary glamour or the fusion necklace with jadau for a more traditional appeal. Either way, both bridal necklaces are flawlessly crafted. Dainty Delights KP Sanghvi showcases its delightful lightweight jewellery lines at the show. Trendy and design-oriented, the Intrecc oro collection uses an innovative wax injection technology to create intricately designed pieces that can effortlessly take you from day to night. The Sparquelle Bright line is light as a feather and features elegant gold bands and earrings enhanced with diamond accents. 6
Exhibitor Voices Dr. Nawal Agarwal Proprietor, Birdhichand Ghanshyamdas, Jaipur Anand Kulthia Managing Director, Karma Jewels, Kolkata Shenazz Amarnani Proprietor, Mirella, Mumbai We have high expectations from Signature as it is the leading jewellery show of India and we always have some special pieces to exhibit here. Importantly, we do witness sales growth year-onyear and we have been getting new buyers from all over the world at the show. I believe that the market sentiment has improved since last year and I m confident that the outcome for us will be good. We have been witnessing a high sales growth especially in the kundan-meena segment. Since bold and vibrant colours are in fashion right now, the demand for kundan-meena will only strengthen, especially during the wedding season. This is the first time I will be participating in Signature, which is one of the biggest jewellery shows in the country. Signature will give us a platform to showcase our collections and build business relationships with buyers. We manufacture handmade diamond jewellery and have been working extremely hard for the last six months to present innovative designs at Signature. As gold rates have been stable, business has started picking up, so our expectations for this show are really high. We are confident of adding some good clients to our current list. As far as current trends go, diamond jewellery has become extremely popular. Chokers and cuffs have a strong demand and I am sure this trend will continue even at the show. After our successful IIJS show in 2013, a lot of our customers have been insisting that we participate in Signature. This is our first stint at the show and we are expecting a very good response from buyers as we are exhibiting a new collection. We will be introducing lightweight micro pave set diamond jewellery this year. Vishal Jain Sensuel Jewels, Mumbai Girish Agarwal Proprietor, Lovely Gems, Mumbai Despite current restrictions on gold imports, we haven t seen any slack in the demand for gold and diamond jewellery. Hopefully, the restrictions on gold should be lifted by the next couple of months. Sensuel Jewels is all about redefining the concept of couture diamond jewellery. We believe in providing aesthetically unique, fashion forward jewels with the ability to adapt to changing market dynamics. Signature serves as a good platform to showcase new products and concepts, share ideas and help clients plan their inventory for the season ahead. Moreover, it acts as a great networking platform as only serious buyers attend the fair. We wish to reach out to potential clientele and tap newer markets. We would like to create a stronger mark in Mumbai, our primary market, as well as explore opportunities with reputed jewellers in India. At Signature 2014, we will be showcasing some of our best high-end designs. Fusion jewellery has been gaining popularity due to its contemporary look and affordable price range. We will soon launch collections along this line. S ignature is the perfect platform for buyers and sellers from across the globe to interact and conduct business. Lovely Gems specialises in handmade studded jewellery. Lately, we have been focusing on fusion jewellery as there is a great demand for it. We strive to create pieces that are affordable, yet innovative. At Signature we will be showcasing special designs that combine diamonds, polkis and pearls with invisibly set rubies and sapphires. Since we are participating in Signature for the first time, we have high expectations from the show.
Design Corner We Are Focused On Design Hemen Doshi, Director, Belle Diamond Pvt. Ltd., who is a first-time participant at Signature, tells us about the growing importance of quality, designoriented products that help retailers differentiate themselves. Colourful Rings & Danglers Will Rule the Show Ram Raimalani of MK Sons Jewellers tells us about the growing popularity of coloured gemstones. Hemen Doshi Director, Belle Diamond Pvt. Ltd., Tell us more about Belle Diamond. What defines Belle is our passion to create products that are of superior finish and have enhanced visual appeal. We are a young manufacturing company, and our core strengths are our gem-setting skills and fine finishing techniques. These skills coupled with original design development result in creations that are both contemporary and appealing to the diverse Indian tastes. All our jewellery is cast and handset. We specialise in tapper, baguette and micro pave-set diamond jewellery. Ram Raimalani MK Sons Jewellers Tell us more about your brand. MK Sons Jewellers specialises in fusioninspired jewellery with inimitable cuts and designs. We have our own designing and manufacturing unit and have recently entered into retail through our stores in Mumbai and Ahmedabad. Considering our strength lies in novel and artistic designs, we are keen to make our presence felt in the industry and Signature will help us in this direction. How are you coping with the current gold deficit? All our collections and products are extremely economical when it comes to gold usage. Our products are generally 40% lesser in gold weight than most manufacturers. What are the current jewellery trends you have observed? We are seeing an increasing shift in the market, from a price-driven approach to a design- and finishdriven selection. More and more retailers are actively seeking products that differentiate their offerings from others and have begun focusing on products that are design-oriented, lightweight and are of a superior quality finish. What are the most popular jewellery items at the moment? Coloured stone jewellery is gaining popularity and so are jhumkis. Also, rings costing up to Rs.30,000 are an eternal favourite. Is there a demand for lower carat gold jewellery? All our jewellery is crafted in 18-karat gold but we do manufacture 14-karat jewellery on order as there is a substantial demand for the same especially from northern and eastern parts of India. How long does it take to manufacture a collection from design to final product? We generally come out with three major collections every year and selected collections are theme-based. It takes us five to six months from concept to the release of a new collection. All our collections go through two iterations of prototyping to ensure flawless products that are captivating. What kind of collections will you be showcasing at Signature 2014? At Signature 2014 we will be showcasing lightweight collections as the bridal season is just over. We will launch Size Zero, a collection of stackable bangles. With weights ranging from 8-12 grams and studded with 1.2 2.5 carats of diamonds, the bangles have extremely attractive price points and will surely be a hit. What will be the popular items at the show? According to me, rings and danglers will rule the show, which is why we are showcasing our new collection at Signature that consists of innovative jhumkis and rotating rings. How often do you come out with new collections? For us, designing jewellery is an ongoing process. We create one or two new pieces every day. Have you used a lot of gemstones in your collection? Yes, we have used gemstones like emeralds, rubies, sapphires and tanzanite. Rather than focusing on diamonds, we focus on gemstones. Are fancy-cut and coloured diamonds gaining popularity? Fancy-cut diamonds and colour diamonds are gaining popularity in the high-end segment. Earlier, people would buy diamonds. But now they are looking for something different and have started experimenting with fancy colour diamonds. Given the restrictions on gold, will you be introducing innovative collections that use less gold? People who want to buy jewellery, will do so irrespective of the cost and as per their taste and preferences. What I have noticed over the years is that gold is still the most favoured precious metal. In your opinion, do you see the overall jewellery market improving? The overall gems and jewellery market in India is likely to double in the next five years, according to a recent study. The demand for luxury goods has also gone up. Everyone wants to flaunt branded goods. Designer jewellery and concept jewellery is high in demand, so the future for the gems and jewellery market is bright! 8
Interview Of The Day We Are Optimistic About The Domestic Growth Rate Ghanshyam Dholakia Managing Director, Hari Krishna Exports How long have you been participating in Signature? How important is the show for Hari Krishna Exports? We have been participating in Signature almost since its inception. The show is highly focussed and helps us to have direct contact with customers and understand their needs. According to you how will the domestic diamond market fare this year? Domestic market is highly influenced by the currency fluctuations. Second, the consumers are extremely cost conscious. But, I believe that the market responds positively to good service and is receptive to information and guidance. So, we are very optimistic about the growth. What are your expectations from the show this year? What goods does your company specialise in? Participating at global and domestic trade shows has been a part of our CRM strategy where we personally meet and understand our existing customers more closely and also forge new relationships. Signature is the most appropriate show that fits in well with this strategy. We deal in polished diamonds (certified and non-certified) in the following ranges: more than 10 different shapes; 0.1 to 5 carats and above; D to M colour; IF to I3 clarity; EX EX EX and H&A cuts; and GIA, IGI, HRD certified diamonds. The price of rough is steep, and combined with the rupee depreciation, do you think you will see enough demand from visitors at the show? Yes. The increase in rough prices and the rupee depreciation will play a large role as usual. Overseas demand is not likely to be much affected as polished diamonds are priced in US dollars and most of the customers are aware of the market trends. Local customers need more education and guidance as to how to adjust to the changing market. As mentioned earlier, they are receptive to information and once we establish our sincerity and create a feeling of credibility, then it is easy to communicate with them. Are you going to present any new cuts at the show? We will present our regular range at the show. Who are your biggest buyers in the domestic market? Retailers and wholesalers have been our target audience at every show and the same is true for this show as well. Hari Krishna is engaged in a lot of CSR activities. Is that your way of giving back to the diamond industry? Yes. We are engaged in a lot of CSR and employee engagement activities including construction of a lake on a 17-acre plot in Dudhala village in Gujarat to improve local economy and alleviate the problem of drinking water scarcity during summer; planting of more than 7 lakh saplings; organising blood donation camps (we recently organised one in February to mark the first anniversary of our Mumbai office at BKC; Bhagwat Katha, a spiritual event attended by more than 22,000 people; yoga camps; running a hospital and more. GJEPC To Host Trends Forecasting Seminar The Gem and Export Promotion Council (GJEPC) will organise a seminar on trend jewellery forecasting on February 25-26, 2014 in Mumbai. The two-day seminarcum-workshop aims at educating members and students of the gem and jewellery industry on the latest jewellery trends of specific markets such as Europe and the USA. The seminar will be conducted by Paola de Luca, creative director and forecaster, Trendvision + Forecasting, and her colleague Noki Tran. Trendvision + Forecasting, is an internationally renowned consulting firm based in Italy, and an independent trend forecasting observatory of Vicenza Fair. Speaking about the initiative, GJEPC chairman Vipul Shah, noted, Indian jewellery has, without a doubt, created a niche for itself as it combines contemporary sensibilities with traditional aesthetics. America and Europe remain one of the major markets for Indian exports and thus, understanding the trends prevalent in these countries becomes imperative. Extensive knowledge of the market and high sensitivity towards consumer interest is essential in our trade. Therefore, through this seminar, the Council hopes to update design sensibilities and strategic awareness to further penetrate into these key markets. Paola de Luca commented, I would like to thank the Council for giving us the opportunity to share our knowledge and research in India. At Trendvision, we believe that education is important for the development of any industry. Therefore, through this seminar we hope to provide the Indian gem and jewellery industry the strategic direction that is required at this point in time to compete at the global level. According to latest export figures, the Indian gem and jewellery exports from Jan-Dec 2013 to US stood at $4,793.44 million and to Europe at $3,307.63 million. In order to tap this huge business opportunity it is imperative to constantly enhance and upgrade India s jewellery design prowess. For registration, visit www.gjepc.org/tjf.php, or call Ms Poonam Ghare at +91-9987753828. DAILY HIGHLIGHTS Online Buyer-Seller Matching Programme A Buyer-Seller Interface allows exhibitors to preview products and companies and connect with their partners. This interface allows exhibitors to get automatic matches based on their profiles and offers greater convenience in scheduling appointments. Elite Club Privileged retailers can enjoy several facilities at The Elite Club at Signature 2013. Special mezzanine lounges have been created where select visitors can enjoy a quiet moment, network with industry colleagues, access the internet, and enjoy light refreshments while taking in a bird s-eye view of the show floor. Shuttle Bus Services Bus shuttles will be provided to exhibitors from the official hotels to the venue, from 7.30 am to 10 am. Shuttles to the respective hotels will be available from 5 pm to 8 pm. Buses will be available every 30 minutes. Cafeteria & Coffee Shops All types of vegetarian food, including Jain fare, will be provided at the cafeterias in the exhibition venue. Breakfast, lunch and snacks will be available at all cafeterias and coffee shops on all days. Please note that breakfast will be available from 8 am to 10 am at the cafeterias. Foot Massage Enjoy a relaxing foot massage by students of the Victoria Memorial School for the Blind. Since 2008, the school has been training visually handicapped people to give therapeutic massages as a means of employment. Rejuvenate your tired feet and lend your support. First Aid Basic First Aid facilities are provided in all the Halls. An ambulance will also be present at the venue outside Hall 1, in case of an emergency. Smoking Lounge Smoking is strictly prohibited in the entire exhibition area. A special smoking lounge facility has been provided for the exhibitors as well as visitors. Signature 2014 At Your Fingertips Scan the QR code with your smartphone to download the Signature Mobile App. Now receive up-to-the-minute show updates, locate a booth via the interactive floor plan, or connect to the Help Desk all in a matter of seconds. The Signature Mobile App is available for Android, iphone and BlackBerry. Editorial, Design and Production www.spentamultimedia.com 10