Positive Vibes AT IIJS Signature 2020

All segments of the Indian gem and jewellery supply chain – from raw material suppliers to jewellery manufacturers, designers, wholesalers, exporters and retailers – participated wholeheartedly in IIJS Signature 2020. The show also witnessed an influx of international buyers seeking alternatives amid changing international trade equations and China’s position as the epicentre of the coronavirus outbreak

IIJS Signature 2020 spread a palpable wave of optimism among the trade, with most aisles abuzz with frenzied trading activity over the four-day period from February 13 to 16, 2020. Although the footfalls, at more than 15,000, were moderate to above average, exhibitors were thrilled about the high percentage of genuine buyers who attended the show, resulting in a higher conversion rate.

IIJS Signature 2020 hosted more than 700 exhibitors and 1,300 booths, spanning an area of over 45,000 sq m. at the Bombay Exhibition Centre, Mumbai.

One of the show’s most-talked-about new features was the Jewellery Startup Zone in Hall 6 that promoted 16 budding designers and 16 women entrepreneurs. This novel concept won unanimous praise from visitors and participants alike.

The 13th edition of IIJS Signature and the 7th edition of India Gem & Jewellery Machinery Expo (IGJME) commenced the year’s first buying opportunity for the domestic and global trade. The show was inaugurated by Subhash Desai, Maharashtra’s Minister of Industries and Mining, along with the Gems & Jewellery Export Promotion Council’s (GJEPC) chairman, Pramod Agrawal; GJEPC vice chairman, Colin Shah; GJEPC convener, National Exhibitions SubCommittee, Mansukh Kothari; GJEPC coconvener National Exhibitions Sub-Committee, Kirit Bhansali; GJEPC convener Gold Jewellery Panel, K Srinivasan; GJEPC executive director, Sabyasachi Ray; GJEPC National Exhibitions sub-committee member, Shailesh Sangani; GJEPC former vice chairman and Committee of Administration (COA) member Russell Mehta; and GJEPC Western Regional chairman, Ashok Gajera, amongst others.

(From left) Milan Chokshi, convener, Promotion, Marketing & Business Development, GJEPC, with some of Design Inspirations speakers, including filmmaker Rishabh Anupam Sahay; Narendra Kumar of Amazon Fashion; Thomas Lazzarini of Farfetch; and Ash Allibhai of ASBO magazine.

Addressing the inaugural session, Pramod Agrawal said, “IIJS Signature is now seen as an integral part of an Indian jeweller’s business cycle. Despite business and environment headwinds, people from India’s gem and jewellery exports spanning every stage of the supply chain – from raw material suppliers to manufacturers, designers, wholesalers and retailers – participated wholeheartedly with energy and enthusiasm. We witnessed an influx of international buyers who are looking for alternatives considering the emerging international trade equations and China’s current situation.”

He added, “We have been pursuing our government constantly with few concerns that require immediate attention like reduction in import duty on precious metals gold/silver/platinum from 12.5% to 4%; reduction of import duty on cut and polished diamonds and gemstones from 7.5% to 2.5%; amendment in taxation laws enabling sale of rough diamonds in the special notified zone (SNZ), Mumbai. This is very important to give a level playing field to our traders in the global market.”

GJSCI, GJEPC SIGN MOU FOR DATA SHARING
The GJEPC and Gem & Jewellery Skill Council of India (GJSCI) signed a Memorandum of Understanding (MoU) for the mutual sharing of data of craftspersons. GJSCI’s CEO Rajeev Garg said,“The GJEPC has collected the Parichay Card data and we run the Recognition of Prior Learning (RPL) initiative and both of these activities address the craftspersons. So, the MoU is about exchanging this data so that both bodies can have a wider reach, and eventually we want to include it in the Labour Management Information Systems (LMIS), as it will help us collate genuine, verified data.”

Colin Shah added, “Despite various challenges like coronavirus and global slowdown, we had a decent attendance of over 15,000 participants at the IIJS Signature 2020. We anticipate that globally, the second half of the year will be better than the first half and hence, business will scale up going forward. Buyers have shown interest and have pre-booked orders at the IIJS Signature, which is a healthy sign for the Indian diamond and jewellery exports business.”

Commenting on the feedback he received, Mansukh Kothari noted, “The overall enthusiasm of buyers was high. The Startup Zone got a good response and the industry appreciated the initiative. I got to hear from exhibitors that there were only serious buyers at this show, which was a good thing. We also witnessed demand for light to medium weight jewellery.”

LESS IS MORE

Hardik Shah of BR Designs, which specialises in high-end diamond jewellery, said the show had been great. “We are meeting lots of potential buyers. The networking event last night was brilliant as it gave us an opportunity to connect with international buyers. Serious buyers had come to this show and we are seeing good movement of goods between 15,000 and ₹2,50,000.”

First-time exhibitor at the India Gem & Jewellery Machinery Expo (IGJME), Vijay Parekh, managing director of Rishikesh Electromatic, exclaimed that his experience at the show had been “beautiful!” “We have already sold four of stocking mesh and gope chain machines by the second day. After this positive experience, we are keen to exhibit in the August IIJS Premiere show.”

Mehul Dhinoja, director of sales and marketing, CVM, which specialises in antique rose-cut diamond jewellery, said that while footfalls on the first day were moderate, he was hopeful of a bigger crowd on the weekend. “We are seeing more corporate buyers at this show and would be happier if we get more inquiries from single-store owners. There is decent demand for bridal sets between 40 grams and 300 grams.”

Jaipur Jewels by Vaibhav Dhadda

A’Star marketing executive Saket Shah said that 95% of the buyers he met were regular customers. “The show is pretty decent, but we are not seeing too many new buyers. We are getting queries from panIndia and earrings, rings and pendants below `50,000 are in good demand,” he said.

Siddharthaa Sawansukha, director of Sawansukha Jewellers, Kolkata, found that people at the show were placing orders hesitantly. “Jewellery below INR 2 lakh is popular. Buyers these days are opting for classic, minimal and youth-oriented designs. They are coming to the show well prepared and are conducting extensive research between themselves before attending trade shows.”

Abhishek Sand, co-founder and director of Savio Jewellery said he was not concerned by the low foot traffic at IIJS Signature because the show had a 100% conversion rate for him, as against a 15-20% conversion rate at IIJS Premiere. “India is benefitting from factors such as the US-China trade war and more recently the coronavirus outbreak, which has led many companies in the US to divert their orders to India. Another reason for India doing well is that our product finish has improved significantly as many Indian manufacturers are introducing CAD/CAM into their manufacturing process. This has several benefits including raising accuracy levels, which is essential for ensuring uniformity when fulfilling large international orders.”

GJSCI LAUNCHES ‘UNLEASHING JEWELLERY MANUFACTURING EXCELLENCE’ BOOK
During the inauguration function on the first day, the Gem & Jewellery Skill Council of India’s (GJSCI) chairman, Sanjay Kothari and GJSCI’s CEO, Rajeev Garg, along with GJEPC officials, released a book titled ‘Unleashing Jewellery Manufacturing Excellence’. It is a compilation of the 20 papers presented during the inaugural India Jewellery Excellence Symposium (IJES) that was adapted on the lines of the Santa Fe Symposium.

Subhash Desai (sixth from left), minister for Industries & Mining, Maharashtra, and Pramod Agrawal (centre), chairman, GJEPC, inaugurated the 13th edition of IIJS Signature and the 7th edition of India Gem & Jewellery Machinery Expo (IGJME) on 13 February 2020. Joining them are (from left) Sanjay Kala, member, national exhibitions committee, GJEPC; K Srinivasan, convener, GJEPC; Mahendra K Tayal, regional chairman – South, GJEPC; Mansukh Kothari, convener, National exhibitions sub-committee, GJEPC; Kirit Bhansali, co-convener exhibitions sub-committee, GJEPC; Sabyasachi Ray, executive director, GJEPC; Shailesh Sangani, member, national exhibitions sub-committee, GJEPC; Russell Mehta, former VC and COA member, GJEPC; Ashok Gajera, regional chairman, GJEPC; and Prakash Pincha, regional chairman – East, GJEPC.

TIME TO CONNECT WITH NEW BUYERS

Mumbai-based Anand Shah was happy to meet new buyers from many regions across the country, while regular customers kept coming as well. He noted that trends are changing and customers are opting for light weight jewellery – not above 125 grams – with good designs. “The price of gold did impact the demand. Currently, the markets across India are sluggish due to this factor,” he noted.

Sanjay Jain, proprietor, Manoj Ornaments, felt that the show lived up to his expectations. Apart from regular buyers, he got to meet few new buyers from the northern region. His firm exports jewellery across the globe, and saw demand for gem-studded, designer jewellery from some international buyers. It introduced a collection of opal, mother-of-pearl, and some other new concepts – all lightweight lines with affordable price points.

Anand Shah

The response was great for this year’s show, according to Viral Kothari, partner, Kosha Fine Jewels. He notes that IIJS Signature has always been a serious buyer-seller show. “Lightweight and daily wear designer jewellery, which most millennials aspire for, did well. We launched lightweight ring-cumpendant pieces and two-in-one. The trend of lightweight designer jewellery is only getting stronger.”

Amish Kothari, CEO, Rosentiques Fine Jewellery, revealed, “The show has been growing in strength year-on-year. Though buyers from the northern region were less in numbers, we had good meetings with our existing buyers and some new customers as well.” Since the manufacturer specialises in couture and bridal collections, it received decent orders from across India. This time, Rosentiques presented a special range of tanzanite-infused earrings under its sub-brand Amolya.

Toshiba Jariwala of Mumbai’s Zundaa revealed that the show was below average for them as footfalls were less than expected. “However, we were able to attract new buyers, and we got enquiries from two very big visitors – one from the west and another from the south. There is a sharp shift from high ticket items to low-ticket tags – clients are definitely looking for jewellery with fancy-cut diamonds in designer jewellery, but with an eye on maintaining price points.” Zundaa got a good amount of orders for its bracelets, a product line that is sold off the shelves quite quickly.

VOLATILITY HAS HIT BUYER PREFERENCES

Kulthiaa Jewel of Kolkata got bridal orders but with specific price points in mind. “This time we focussed on settings that gave an expansive look with the usage of rounds and fancycut diamonds and carved or massive colour stones with changeable options,” noted Anand Kulthiaa, adding, “Overall, the industry has been reeling under the after-effects of volatile gold rates and the budget.Compared to last year, the demand did drop in terms of the amount of gold used. Buyers are looking for jewellery that have considerably lesser usage of gold and yet look grand. Like the international market, a lot of buyers have also found interest in different purity, namely, 14-karat gold.”

This point was seconded by Naman Kala of Kalajee Jewellery, Jaipur. “Due to the high gold rates, we are seeing a marked shift to 14- karat jewellery from retailers who had never strayed from 18-karat gold in so many years,” observed Kala. He added that his company was seeing a rising demand in tier-2 and tier-3 cities also such as Ambala, Karnal, Dhanbad, Kota, Sri Ganganagar, Bareily, Hardoi and many others.”

GJSCI PROMOTES INDIA’S HERITAGE CRAFTS – TEMPLE, BIDRI AND FILIGREE

Bhavesh Jewellers

The Craft Pavilion in Hall 6 promoted three traditional Indian jewellery crafts – temple, bidri and filigree, with live demonstrations by artisans at the booth. GJSCI CEO Rajeev Garg told Solitaire,“Apart from promoting these crafts, we are also documenting crafts like tarakashi. We have already prepared qualification packs so that the training material is ready. We are doing the same for hupri payal, whose artisans were brought to the previous show.There is a National Skill Development Corporationapproved (NSDC) qualification pack, so anybody can start training using those documents. Next, we will document bidri. The aim is to preserve the knowledge of these crafts for posterity because right now they are only being passed down the generations by word of mouth or through on-the-job training.The authenticity of these crafts has to be retained, because their USP is that it is all 100% handmade. Already, people have started using cast components for temple jewellery, which is part casting and part handmade; that is a business reality. One very heartening thing to note is that all the three crafts have drawn qualified people such as graduates and even chemical engineers, which is a promising sign and it demonstrates that they are coming back to jewellery profession.”

Kulthiaa stated that the western and southern Indian regions have a strong liking for diamond and gold jewellery, respectively. “In western India, consumers are experimental and wouldn’t mind splurging on products that are unique in terms of every element involved in jewellery making. Down south, gold is given a lot of importance, particularly traditional jewellery. At this time, the industry is feeling the heat of surging gold rates and a tough economic scenario. With increasing technology and better innovations, I am optimistic about our industry’s growth and definitely see it bouncing back in all its glory.”

Milan Chheda of Tara Fine Jewelry, Mumbai, too, got buyers from the southern and western regions. “We had serious buyers, though the footfalls were less this time.” Designer jewellery pieces ranging from ₹1 lakh to ₹3 lakh were sought after, and bridal sets between ₹8 and ₹25 lakh were booked. However, mid-ticket items had no takers. Tara’s collections were replete with rose cuts, diamonds and gemstones such as tanzanite, morganite, opal, and chalcedony. “Jewellery business is at an all-time low,” says Chheda, “as a result of the high gold rate. However, there is demand for daily and couture segment. This is a phase we have to ride through with equanimity. I am sure everything will be back to normal soon, or perhaps the new normal.”

BR Designs
Kulthiaa Jewel
Savio Jewellery
Sangam Chains

ROOM FOR ALL

Viral Kothari believes that the current market is conducive for organised retailers as well as manufacturers. “With the implementation of GST, the jewellery trade is getting formalised, and I welcome the change.”

According to Sawasukha, rising gold prices have dented demand. “The steady climb of gold prices has been affecting the trade adversely. The entire industry was hoping there would be a slash in the import duty and GST in the 2020 Budget from the present rate of 12.5% and 3% respectively. The slash would have brought much-needed relief to the sector. Having said that, I believe that with time and proper government policies, the market can revive as gold is seen as an investment among Indians. The jewellery market, fortunately, has stayed strong in both the eastern and southern parts of India. I am happy to observe that the Bengali karigari of the eastern region is finding its long due appreciation globally. And I am hopeful that the future is bright for all of us.”

LINDSEY STRAUGHTON, INDUSTRY AMBASSADOR, THE NATIONAL ASSOCIATION OF JEWELLERS, UK: Our journey at the India International Jewellery Show (IIJS) Signature has been one of fascination, wonderment and excitement at all the collaborative possibilities between the UK jewellery industry and the Indian jewellery industry. What we found amazing and exciting was the marriage between traditional handcraftsmanship and cutting-edge engineering technology and how that has been fused together to create an exciting and innovative future. The National Association of Jewellers has over 2,000 members who represent the entire supply chain, from stone dealers and designers to retailers. We are the trade body for the UK jewellery and silversmithing industry. Some UK retailers attended the show and industry consultant Helen Dimmick also joined us. I plan to bring around a dozen buyers to the Jaipur show in April as it is especially designed to cater for the export market.

Vaibhav Dhadda, creative head and founder, Jaipur Jewels, “In terms of sales January was better as we saw the gold prices stabilising in December. But in January again we witnessed volatility in gold prices; therefore, buyers were deferring their purchases in February. Considering all factors affecting the current global economic environment, I feel India is still the best bet as the love for jewellery both as investment and adornment will remain forever.”

Dhadda received good response at the show and met a few new buyers from South India and Maharashtra, apart from the old customers. The atmosphere at Signature is more relaxed, and we get the time to interact with our clients, he says. “That’s a good time to do the groundwork ahead of IIJS Premiere. Buyers want to be wowed all the time, and this time we presented a collection of one-of-a-kind cameo jewellery and daily wear cameo jewellery at the show.”

A Star Jewellery

Sunil Datwani of Gehna felt that markets such as Punjab, Madhya Pradesh and Hyderabad may offer potential to grow. “We met potential buyers from northern India, who opted for trendy designs. Lately, among them, there is a curiosity about modernity in jewellery which was missing earlier. So this is an exciting avenue to explore.”

In terms of demand, Datwani noted: “At the wholesale level we haven’t felt any impact yet. At the retail level, the confidence of the customer could do with a little boost. The jewellery industry has faced many challenges in the last few years, and I feel challenges only make you stronger! The enthusiasm amongst buyers at the show is a heart-warming factor.

“The current market scenario is encouraging. This year there are a lot of auspicious days, and no matter how modern we get, I think jewellery will always retain its status that it enjoys.”

Archana Jain, creative head, Swastik Jewellers, Mumbai, stated that despite lesser number of footfalls, the conversion of queries was good – thanks to the presence of genuine buyers at the show. Jain received most buyers from major chain stores based in South India. The new collection of mangalsturas and ‘men’s sutras’ received a lot of attention from retailers. Lightweight jewellery with a lesser component of gold was on top of the charts. “Demand for gold jewellery has been definitely affected due to the high cost of the yellow metal, and going forward the I can see that tier 2 and 3 cities are still investing in precious jewellery as compared to metros.”

STARTUP ZONE – SUPER HIT

Exhibitors at the Startup Zone section expressed their gratitude for the opportunity given to them at a big platform like IIJS Signature. They were happy to interact with B2B buyers from across India, which was a new experience for most of them as, as earlier they had dealt only with end consumers.

The Startup Zone, which was fashioned on the lines of the Skill India, Stand Up India and Start-up India initiatives launched by the Government of India, gave exhibitors an idea about the needs of serious buyers. They were all ready to participate in the coming year if given a chance, and informed that they would now be better prepared to meet the B2B customers next time.

Designer Rosily Paul said she had nothing but gratitude for the organiser, GJEPC, for providing this platform to emerging entrepreneurs. “This is an ideal place for experimentation where we can test fresh concepts and ideas. I hope this initiative continues in the future as well.”

Kapila Bhutta of Joolrie Fusion said she was extremely thrilled about the opportunity to exhibit at the Startup Zone. “I’m absolutely certain that this is a tremendous opportunity, but it will take time to bear fruit.”

An exuberant Gitanjali Sahijwaala of Lotus Ssutra said that the Startup Zone was a wonderful networking platform as she got to meet people from across India. “It is a great place for up-and-coming designers to get good exposure.”

Savio Jewellery

The Startup Zone is genius, said an excited Shweta Aarsaria. “This is a great initiative. Even though the footfalls may be light, for me this initiative is all about connection, not selling. I hope the stall allocation is done earlier next time as it would be of great help for people like me who are from out of town.”

Kosha Fine Jewellery
Gehna Jewellers
Wondercuts

ON THE SIDELINES

On February 15, 2020 the GJEPC presented the first ever Business Knowledge Forum, in association with EconomicTimes.com, which discussed the importance of modern-day information technology and tools like Robotics, Artificial Intelligence, Digital Marketing, Importance of Social Media and Impact of Influencers, etc.

The Forum had eminent speakers like Raghunath Subramanian, chairman UI Path; Animesh Samuel, co-founder and product head, NLP Bots; Vedanarayanan Vedantham, SME business head, Razorpay; Sowmya Iyer, founder and CEO, Dvio Digital; Aditya Bhat, head, Jio Studios; Bollywood actress, Aditi Govitrikar and TV actress, Tridha Choudhury.

The daylong Design Inspirations seminar on the last day of IIJS Signature was conducted by jewellery trend forecaster, Paola De Luca. The core themes of Design Inspirations 2020 were Social Culture (The era of volatility), Sustainable (Being planet sensitive and conscious), Heritage (Looking deeper into authenticity) and, Design (Envisioning the ideals of tomorrow).

Among the eminent speakers at Design Inspirations were Ash Allibhai, international fashion & content director, ASBO Magazine; Narendra Kumar, creative director, Amazon Fashion; Thomas Lazzarini, private client personal shopper at Farfetch; Shreyas More, interior designer, Green Charcoal Project; Fleur Damman and Noëlle Viguurs, cofounder, Van Gelder Indian Jewellery; Saikat Mitra, creative director, Van Heusen and VP design at Aditya Birla Fashion and Retail; Akash Das, creative director at MeWeStudioX. The speakers shared with the gathered trade members their insights, perspectives and knowledge gleaned from their diverse backgrounds.

Zundaa
Tara Fine Jewellery

FOR YOUR EARS ONLY

Earrings are a staple in every woman’s treasure box. From jhumkis, shoulderdusters and single earrings to ear-climbers and more, this versatile category has seen varied manifestations in the recent past. At IIJS Signature 2020, we spotted some notable ear studs-large, sophisticated, classic, colour-infused, folkloric and futuristic. Here’s what caught our eye!

A’Star Jewellery
Jewels of Jaipur
Jaipur Jewels by
Vaibhav Dhadda
Savio Jewellery
Kalajee Jewellery
Kalajee Jewellery
Wondercuts
Wondercuts

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