The 14th version of IIJS Signature held from 18th to 21st February 2022, held at Bombay Show Centre, NESCO, was held in the midst of apprehensions. The wave of covid had ebbed, but what seemed to concern diamond jewellery exhibitors was the high cost of polished, which had risen between 40% and 50% since last September. Would buyers pick diamond jewellery or not? The show turned out to be a testing ground for buyers, who wanted to compare rates between exhibitors. It also provided assurance that the price rise was across the board, and this propelled them to book orders.
Buying happened in pret, couture and bridal segments and exhibitors were a super happy lot.
Mitesh Gajera, Managing Director, Laxmi Dia Jewel Pvt. Ltd., noted, “We noticed a positive demand and buyers have responded well to the new prices, especially those retailers who have been following the current price trends. Retailers who held back their buying in the hope that the prices would stabilise, refrained from purchasing. Our bridal collections have been doing well and big carat diamonds, too, are in demand. IIJS Signature is the platform where the buyers came to terms with market prices.”
Siddhartha Sawansukha, Managing Director, Sawansukha Jewellers, commented, “We have had back-to-back packed days at Signature. It has been a super show for us as retail chain stores booked orders for diamond jewellery as they understand the market dynamics. Independent retailers, who are farsighted, also placed orders to meet the growing demand at the consumer end. India has a lot of potential to grow, especially from tier II and tier III regions.”
Shekhar Reddy, CEO, Eon Jewellery, stated that the show was very encouraging and their inventory across all segments received good response from retail chain stores in India and the Middle Eastern buyers.
Kumud Hirawat, Creative Director, Karshev, specializes in one-off high-end pieces adorned with coloured gems and diamonds. “Emeralds are my favourite, as well as rubies and tanzanites. I also use large carat diamonds, and yellow diamonds. My focus has been on quality, manufacturing and finesse. The show has been more than satisfactory for us.”
Pratik Parikh, Director, Nuance Jewels, is a first-time exhibitor. Although the company has been exporting since the last one decade, they have entered the domestic market a couple of years ago. The domestic division makes only handmade diamond jewellery lines. “Our diamond setting is called ‘open closed setting’, and we target only southern India. Each piece is detachable and multifunctional. Our gold ratio in the jewellery is lesser than that of diamonds and we use EF/VVS certified diamonds. IIJS is a very major platform for us and it helps us to connect with our clients.”
Anand Kulthia, Director, Kulthiaa Jewel, stated, “Despite the hike in diamond prices, our clients didn’t hesitate to book orders. They have been selecting pieces for the upcoming wedding season ahead. This show was long overdue.”
Many visitors have held back their purchasing buying as IIJS Signature was postponed from January to February in anticipation of stocking up inventory. Buyers were excited to check out new lines, said Abhishek Sand, Partner, Savio Jewellery, adding that they also got a sense of price comparison of diamonds at the show.
Sand also said that retailers were now preferring coloured gemstones in their high-end pieces. “It is the dawn of the coloured gemstone era.” Savio Jewellery has been experimenting with gemstones such as rubellites, corals, Australian opals, morganite, tanzanite and more. “Our research has found that we get more clicks on social media posts for colourful jewellery. So, we have brought in a range of rings saturated with colour at the show. The response has been amazing.”
Colour Me Beautiful
Hema Shah, Creative Head of Sparsh Jewellers received queries from northern India. “Asymmetrical necklace sets were a hit with southern buyers. Most retailers from the South prefer green-coloured gemstones and corals, while the rest of India is open to experimenting with bridal jewellery set with tourmalines, Russian emeralds, rose quartz, prehenite, jade, chalcedony and more. Soft colour gemstones are in vogue.
A range of earrings adorned the Kalajee Jewellery booth. “Business for us began on Day One and that was a big surprise. Fifty percent of our buyers were new this time. Our navratna collection has been a hit and it is our practice to introduce new lines in smaller quantities to test at IIJS shows. If they are a hit, we develop the collection for the next show. So, this time we have introduced openwork geometric danglers, jhumkis accented with plique a jour enamelling, ear studs with pink, ivory, mint green, turquoise and black enamels dotted with polkis. We are absolutely thrilled with the show’s outcome.”
Abhiyant Raniwala, Raniwala 1881, Jaipur, noted that the show was middling for them as diamond and gold prices have been fluctuating, therefore buying sentiments are a bit low. But it is always good to be back on the IIJS platform. Emeralds play a key role in our collections, and currently, we have been using a combination of Russian emeralds and morganites. Our clients prefer single tone gems, but navratna jewellery is an eternal favourite. IIJS keeps us motivated and come up with new designs for the remaining months of the year.”