Solitaire International Magazine - August 2017

In this issue

IIJS 2017 drew praise from all quarters as business exceeded pre-show expectations. Gold jewellery participants did roaring business, with many reporting that they had sold out their stock on the first couple of days. Diamond jewellery manufacturers, too, fared well across the lightweight and bridal categories. Demand for loose diamonds and gemstones also picked up at the fair.
There were apprehensions that the recently introduced GST would be a dampener. However, these fears remained unfounded, as buyers and sellers told Solitaire that GST has opened up new opportunities to do interstate business without incurring additional tax. In Industry Insight, Dr. Suresh Surana rightly predicts that GST will redefine the jewellery business due to greater transparency and a new tax structure.
Designer lightweight jewellery for work and travel wear is popular across all ages for its affordability and versatility. Demand has gone up by 20% in the past twelve months and is expected to continue growing with self-purchases and gifting on the rise. Read more about this promising jewellery category in In Focus.
Small scale jewellery manufacturers in and around Palanpur, the birthplace of India’s first diamantaires, will benefit from the Common Facility Centre that was recently opened in the city by the GJEPC. The Council has plans to open two more similar facilities in Amreli and Ahmedabad.

Signet Jewelers Appoints Virginia C. Drosos As CEO

Signet Jewelers Limited, the world’s largest retailer of diamond jewellery, appointed Virginia “Gina” C. Drosos, who has served as a independent director of the company’s board since 2012, as the new chief executive officer of Signet, effective August 1st 2017.

1 min

GJEPC Opens Common Facility Centre In Palanpur

The Gem & Jewellery Export Promotion Council (GJEPC) said the second Common Facility Centre (CFC) was inaugurated in Palanpur by Nirmala Sitharaman, minister of state (independent charge) for commerce & industry, and Haribhai Chaudhary, minister of state for Micro, Small & Medium Enterprises (MSME), on July 10th.

1 min

IIJS Registers Record Breaking Sales

The overwhelmingly positive feedback from exhibitors and visitors pegs IIJS 2017 as one of the best ever. Though gold jewellery sales shot through the roof, good sales were reported across the categories of studded diamond and gemstone jewellery as well as loose stones. Here’s a detailed report by SOLITAIRE INTERNATIONAL.

10+ mins

Jewellers For Hope Raises ₹1 Crore For Three NGOS

The GJEPC hosted a by-invitation-only charity dinner, Jewellers for Hope, on the sidelines of the show to raise funds for a noble cause.

2 mins

Prelude To IIJS 2017: A Spectacular Curtain-Raiser

The Gem & Jewellery Export Promotion Council (GJEPC) in partnership with the Diamond Producers Association (DPA) presented the first-ever Prelude to IIJS 2017, a B2B fashion showcase event on July 26th 2017, at Hotel Grand Hyatt, Santacruz, Mumbai.

1 min

Small Is Big

Lightweight jewellery demand has grown 20% in the last year. Self-purchases, gifting and work wear drive the demand. Solitaire International interviewed retailers and designers to check out what’s hot in this category.

5 mins

KP: Global Diamond Production -11% To $12.4bn

Worldwide diamond production in 2016 fell nearly 11% year-on-year to $12.4 billion owing to a drop in rough diamond prices, according to the latest statistics published by the Kimberley Process Certification Scheme (KPCS). 

1 min

De Beers' Q2 Diamond Production Rises 36% To 8.7m Ct

Orapa’s production increased 44% to 2.918 million carats driven by the ramp-up of Plant 1, which was previously on partial care and maintenance in response to trading conditions in late 2015. This was marginally offset by Jwaneng where production decreased by 3% to 2.913 million carats.”

1 min

Read all stories from Solitaire International

Solitaire International Magazine Description:

Solitaire International is India’s leading B2B magazine on the gem and jewellery trade. With more than 20 years behind it, the monthly publication is today recognised in India and the world over as a quality publication in trade journalism. The magazine is referred to by the global trade sector for information on India and its industry.