MAN ON THE MOVE - Big lab-grown diamond showcase at JCK Las Vegas; China launches marketing drive

04 Jul 2023

By David Brough

A substantial lab-grown diamonds showcase at JCK Las Vegas (June 2-5, 2023) underlined the growing retail demand for synthetic stones in many markets around the world.

Turnout was high, with many stands packed across the show, staged in the vast Venetian resort hotel, as retailers from around the world restocked for the coming seasons.

JCK Las Vegas offers a huge array of the latest jewellery designs from around the world, as well as diamonds, gemstones, machinery and accessories.

The lab-grown diamonds section featured the largest manufacturers from around the world, many of them from India.

Industry sources spoke of vigorous price competition in lab-grown diamonds led by the Indian manufacturers. 

Lab-grown diamond prices have fallen recently, driven by rising manufacturing output, much of it in India. Trade sources spoke of falling margins in lab-grown diamond production.

The natural diamond manufacturers also came out in force at JCK Las Vegas, with leading Indian polished suppliers such as Rosy Blue, Venus Jewel, and SRK occupying large, conspicuous stands.

Rosy Blue presented some exceptional yellow diamonds amongst their stock, underscoring the vibrant interest in yellows presently, while Venus Jewel showed off their innovative 3-D holographic diamonds display technology for retailers, as well as their detailed reports identifying diamond characteristics.

"The show was very professionally organised, with an efficient appointments system in place for retailers to meet suppliers," Himanshu Shah, director of Hatton Garden-based diamond jewellery manufacturer Andre Michael, who was a visiting buyer, told the NAJ.

In the seminar programme, leading social media strategists, including Katerina Perez, Tracey Ellison (@thediamondsgirl) and Laura Inghirami (@donna.jewel), presented insights into new trends at a well-attended session at the Innovation hub.

COUTURE show sees extraordinary innovation

The COUTURE show, held from June 1-4, 2023, at the nearby Wynn Hotel, displayed an exquisite array of new fine jewellery designs. 

Some of my personal highlights included anodized titanium earrings at Maison Alix Dumas and opulent pieces from Carrera y Carrera’s Circles of Fire collection, including the Shanghai necklace.

COUTURE, presenting some of the world’s leading fine jewellery designer brands, takes place in an elegant and convivial setting that appeals to upscale retailers and collectors.

Leading trade press from around the world packed into JCK Las Vegas and COUTURE, due to the huge importance of the U.S. market to jewellery suppliers from Italy to India and Turkey.

On the eve of COUTURE, the international press witnessed the launch of a new Buyers Guide and digital campaign, organised by Italian state-backed agency ITA Houston, supporting Italian jewellery brands exporting to the U.S. market.

Some three dozen Italian fine jewellery brands featured amongst the exhibitors at COUTURE.

China Fashion Gala

After JCK Las Vegas and COUTURE, my next stop was the China Fashion Gala in Shenzhen, a new showcase of  Chinese jewellery manufacturing and design skills.

The "China Fashion Gala" (June 13-16) celebrated Chinese jewellery manufacturing and design skills, with a conference exploring how to boost the visibility of Chinese jewellery brands globally.

A delegation of European opinion leaders was invited to the jamboree staged in luxurious surroundings in the high-rise jewellery manufacturing hub of Shenzhen, adjacent to the trading metropolis of Hong Kong, and featuring visits to manufacturers such as Zhou Liu Fu and Allove, located in the city's teeming jewellery district.

The delegation also visited the Shenzhen Jewelry Museum, a strong contributor to jewellery education in China and a popular tourist destination.  

Chinese manufacturers are embracing new technologies, have developed and harnessed new diamond cuts, and are probing proactively how to engage AI in order to boost efficiency and reduce costs.

The highlight of the China Fashion Gala was a vast formal dinner and runway spectacle celebrating Chinese jewellery design skills with an awards event judged by the visiting delegates, who included industry editors and influencers, a senior trade event organiser (Ronny Totah, co-founder of GemGenève), and respected consultants.

“New wave”

Dozens of Chinese fashion models presented the latest, cutting-edge jewellery pieces from an emerging "new wave" of Chinese designers, including rising star Wallis Hong, who had made a big impact in May at the upscale GemGenève show in Geneva attended by many of the world's leading fine jewellery retailers.

China is the world’s largest manufacturing economy and a leading precious and fine jewellery manufacturer and marketplace. China’s diamond jewellery market is estimated to be worth around USD $7 billion.

The meticulous planning and state-backed investment in the China Fashion Gala, signalled that the Chinese jewellery industry is strongly committed to raising its international profile as a source of important brands.

Ways forward

The conference on the final day outlined several ways to drive forward Chinese jewellery manufacturing, design and brands on the global stage. These included:

Boosting standards so that “Made in China” will become increasingly recognised as top quality goods; developing associations with responsible groups such as CIBJO-World Jewellery Confederation, RJC (Responsible Jewellery Council), and WJI 2030 (Watches and Jewellery Initiative 2030);

Developing and supporting original design inspiration. Highly skilled and inspired Chinese designers such as Wallis Hong, an architect of the event, are emerging fast as ambassadors for original and outstanding design skills and innovation, spearheading the "new wave” of Chinese talent;

Investing in jewellery education in China, supporting the next generations of manufacturers, designers and brands; investing in scrupulous market research and trend forecasting; Investing in new technologies to raise efficiencies, supreme craftsmanship in order to stand head and shoulders above the competition, and sustainability to meet the stringent standards set by the new jewellery consumers; International partnerships and collaborations to learn from seasoned industry peers around the world; And tracking and harnessing AI as appropriate, to boost industrial efficiency and cut production costs.

China's jewellery industry is expected to plan similar events in future to showcase the latest production technologies and design inspiration and to drive forward a campaign to celebrate "Made in China" innovation across the world.

Source: David Brough (Jewellery Outlook)