Singapore Show beats the industry blues!

Thousands of buyers from close to 100 countries and regions turned out in force in the Lion City for Jewellery & Gem WORLD (JGW), which successfully concluded its four-day run at the Singapore EXPO on 30 September.

More popularly known as the September Jewellery & Gem Fair, and often mentioned in the same breath as Hong Kong, the special-edition show saw close to 1,000 exhibitors from 30+ countries and regions talking face

to face with customers – both old and new The fair drew 11,125 unique visitors from 97 countries and regions, who made a total of 21,584 visits over the course of four days – 65% of which were from overseas. The rest of the visitors were Singapore-based. The top-five biggest sources of buyers were Singapore, India, the Philippines, Vietnam and Malaysia.– for the first time since 2019.

The fair drew 11,125 unique visitors from 97 countries and regions, who made a total of 21,584 visits over the course of four days – 65% of which were from overseas. The rest of the visitors were Singapore-based. The top-five biggest sources of buyers were Singapore, India, the Philippines, Vietnam and Malaysia.

Taking the business conversation beyond the physical space and expanding the fair’s reach to Greater China were livestreaming sessions in Mandarin that drew a total of 29,000+ views. Hosted by JGW’s team of jewellery experts, the live event broadcast allowed Greater China-based B2B buyers to engage in real-time conversations with select exhibitors from their homes.

“We are immensely delighted that exhibitors and buyers from all corners of the globe have joined our industry’s grand reunion in Singapore. The positive energy and level of engagement on the show floor was invigorating,” said David Bondi, Senior Vice President of Informa Markets in Asia.

“Without our community’s incredible support, the industry regrouping that we all saw in Singapore wouldn’t have been possible. We are extremely grateful to our valued partners – the exhibitors – who brought their very best products and innovations to the show, and to the thousands of buyers who chose to attend. As I’ve mentioned a number of times before, a sourcing event goes beyond products; it’s as much about people, ideas and inspiration as it is about the power of people gathering together again. This is what JGW Singapore is all about.”

In spite of not reaching Hong Kong’s pre-pandemic peak numbers due to a number of factors – including China’s restrictions on international travel and buyers’ readiness to hit the road again for business – the enthusiasm of those who made it to the Singapore sourcing experience topped expectations. The momentum seen at the fair affirms the industry’s clamour for normalcy and the urgency of getting business back on track as quickly as possible, said Celine Lau, Director of Jewellery Fairs at Informa Markets Jewellery. “Current circumstances emboldened us to radically rethink how we do things to enable our exhibitors and visitors to do business, connect and get inspired. The market’s eagerness and enthusiasm for in-person jewellery and gemstone sourcing as seen at JGW bodes well for the future of our industry,” Lau said. For the first time since its launch nearly four decades ago, the industry’s flagship September B2B fair was held outside of Hong Kong to make the show more accessible to international missing the vitality, serendipity and inspiration brought about by physical events. Singapore’s decision to open up its borders for quarantine-free travel and its capacity to securely and efficiently host large-scale events made it the top alternative venue for JGW. Since April, the Lion City has lifted predeparture/ on-arrival testing and quarantine requirements for all fully vaccinated visitors, whereas Hong Kong only recently announced it was putting an end to mandatory hotel quarantine for arrivals.

RETURN TO BUSINESS
For a post-pandemic sourcing experience that had no real precedent, JGW Singapore opened up a “blue ocean” of opportunities for many suppliers, including contemporary jewellery manufacturer, ZURI Jewellery of Hong Kong.

“We met with buyers mostly from the Asian region, including Singapore, Malaysia, Vietnam, Cambodia, Indonesia and Thailand. We forged new connections with clients from Armenia and Poland. One customer from Europe even said our products were his biggest discovery at JGW Singapore. These are customers that we have never met before,” said ZURI Jewellery Director Victor Yiu, who held non-stop meetings with serious buyers from Day 1 of the show.

“Personally, I never imagined that we would discover a ‘blue ocean’ through this show. This was such an incredible experience for us. On a scale of 1 to 10, with 10 being the highest, I’d give this show an 11.”

Despite not knowing what was in store for them at JGW Singapore, most Japan-based exhibitors said they, too did not expect the results to be as good as they were.

“We prepared products specifically for the Southeast Asian market, and everything was sold out. The results exceeded our expectations,” according to Kobe-based OP Trading Co Ltd, which presented a rich assortment of Japanese Akoya pearls, and white and golden South Sea pearls from Australia and Indonesia.

To most exhibitors, JGW Singapore was all about fresh opportunities and new possibilities.

“This was the first occasion in three years that we got to meet our customers. This is very important because nothing can substitute seeing products in person, and feeling and trying on every single piece of jewellery. For most of us Italians, this is extremely important,” said Paolo Passuello, owner of fine gold jewellery manufacturer, Re Sole Srl, following the show’s opening.

Bringing suppliers and buyers together in an in-person, largescale event in Asia has been a long time coming, noted Devansh Rajesh Shah, a Partner at Venus Jewel of India. “We are glad that there is an exhibition in this region that’s finally happening after a really long time, and it’s a wonderful way for us to connect and reconnect with our existing and potential customers in this market,” Shah said on Day 2 of the show. A pioneer in the natural diamond industry since 1969, Venus Jewel launched The Royal Oval – a 52.64-carat flawless Type IIA diamond. To industry legend Larry West, owner of L.J. West Diamonds, Inc of the US, JGW Singapore gave him the opportunity to reunite with old friends in the fancy colour diamond business. “It’s great to be here in Singapore. This has been the first show in a long, long time after COVID, and I am glad to make it here myself – to make the long trip from New York to Singapore,” West said on Day 3 of the fair. Romil Kothari, Manager of Rosy Blue’s Polished Diamond Division in Antwerp, echoed the sentiment.

“It’s exciting to meet people after nearly three years, especially in Asia; it was very good to see them,” Kothari said. “A lot of people came by checking out the market prices, checking out what’s in fashion in the market right now. What is selling well, what is not selling well, what is more in demand, what is less in demand? It’s good to gauge these at the show. As for business, I’m hearing some people did very good business and some not so good, but this is something that is the story in every show. Otherwise, the organisation was very good and the location was very good, too.”