By Cynthia Unninayar

BaselWorld 2011 closed its doors on March 31 on a very optimistic note, as a recovery in the jewellery industry seems to be further confirmed by the eightday show.

While BaselWorld is known primarily as a platform for Swiss (and other) watchmakers, the event also showcased jewellery brands from around the world. With Swiss watch brands rejoicing at the apparent recovery underway—confirmed by rises in exports in January, February, and March—jewellers also seemed happy with the show. Anecdotally, most jewellery brands reported brisk business although some said that the show was fair while a few indicated that it was slow. In general, however, most declared that their results were superior to those of 2010.

In the world of jewellery and watches, one of the main attractions of BaselWorld is its universality, not only because of its international attendance—exhibitors numbered 1,892 from 44 countries, attracting 103,200 visitors from 100 countries—but also in terms of products. From inexpensive silver and other metal items to exquisite multi-million dollar parures, and from all sizes and prices of colourful gemstones to the most luxurious pearls and scintillating diamonds, and just about every type of timepiece imaginable, there was something for every taste and budget at BaselWorld.

Special Events

In addition to the many products showcased, BaselWorld provided a venue for a number of other important events. One was the spectacular “India Show,” an evening of entertainment sponsored by India’s Gems & Jewellery Export Promotion Council (GJEPC). After an introduction by Anand Sharma, India’s Minister of Commerce and Industry, and Didier Burkhalter, Swiss Federal Councillor and Head of the Federal Department of Home Affairs (both of whom cut the ribbon for the grand opening of this year’s BaselWorld), the audience was treated to a variety of cultural presentations by traditional musicians and dancers. These were followed by a colourful fashion show of India’s top models wearing exquisite jewellery creations from Indian designers. “Today the gem and jewellery industry is a significant contributor to the steady growth of the Indian economy,” stated Mr. Sharma, adding that the event was “not just to promote Indian jewellery but to showcase India’s untapped trading potential at this global platform.”

Clearly, India intends to become a major player in the global jewellery landscape, as explained by GJPEC chairman Rajiv Jain: “India gems and jewellery exports are expected to grow at a whopping 35 percent in 2011. With our participation at BaselWorld, the GJPEC aims to increase the trade intensity towards India. With the support of the Government of India and especially Mr. Anand Sharma, GJEPC is today a step closer to creating ‘Brand India’ and to establishing India as the global trading hub.”

Another major player in the global jewellery arena is Hong Kong, whose brands make up the largest group at BaselWorld. Their elegant creations were showcased in a fashion show at their national pavilion, sponsored by the Hong Kong Trade Development Council (HKTDC). The world’s fourth largest jewellery exporter, Hong Kong is increasingly important as both a provider of fine jewellery and as an entry point into the emerging and promising market of China. In an interview with CIJ Trends & Colours, Margaret Fong, HKTDC deputy executive director, explained that Hong Kong’s jewellery exports rose 21 percent by value to US$4.4 billion in 2010. While high prices of metals and diamonds contributed in part to this increase, the volume of exports was up by a similar percentage.

Exports consisted mainly of gold and jade pieces, but also diamond and yellow gold jewellery as well as precious stones. Hong Kong has also now become a global hub for pearl distribution and trading, due in part to the rise of South China cultured pearls. Fong also explained that demand for Hong Kong exports is due to both the economic recovery in the United States and Europe as well as to increased demand in the emerging economies, especially China, a nation that currently accounts for 15 percent of the world’s total luxury market and that is expected to consume 44 percent by 2020.

During its annual BaselWorld press lunch, the Israeli Diamond Industry (IDI) launched its strategic “Welcome to Israel” marketing campaign and a new diamond app. IDI managing director Eli Avidar affirmed that the Israeli diamond industry had weathered the economic crisis and has come out strengthened, adding that “most of Israel’s leading diamond companies saw their exports increase by over 50 percent in 2010, on their way to reaching pre-crisis export levels.” Avidar added that the IDI would also be opening a new office in the Bharat Diamond Bourse in Mumbai, as well as expanding its participation in trade shows, especially in India and Hong Kong, and would be working toward establishing a rough diamond sourcing group in Israel. He also launched a new iPhone and iPad application for the diamond industry. The free app offers a wealth of up-to-date news and information, in addition to allowing users to conduct business from anywhere in the world. Companies can easily upload their diamond requirements via the IDI portal, and dealers wishing to supply those diamonds can contact the relevant company via the application. The guest speaker at the IDI luncheon was Reuven Kuvent, outgoing CEO of Dun & Bradstreet Israel, who gave a very informative presentation on the accelerated growth of Asian economies, especially China and India, and its impact on consumer demand and the diamond industry. “By 2030, the Chinese economy will be the largest in the world; the USA will be second; and India will have the third largest economy,” he predicted. Although the USA might seem to be less attractive now due to poor economic performance, Kuvent encouraged the industry to cultivate each of these markets for the future.

With increasing awareness in the jewellery and gem industries about best practices concerning sourcing, sustainability, and workers’ conditions, the Responsible Jewellery Council (RJC) sponsored a panel discussion in collaboration with Solidaridad and Fairtrade Foundation. The aim of the panel was to brief attendees on the efforts of each organization towards the common objectives of responsible sourcing and chain-of-custody, as well as to share information on what members of the supply chain are doing to ensure better practices. According to the RJC, “Interest from jewellery retailers and manufacturers in Chain-of-Custody has grown considerably as a result of the conflict minerals provisions of the Dodd-Frank Wall Street Reform Act that were passed by US Congress in 2010. The RJC aims to develop its C-o-C certification standard to support companies seeking to apply greater due diligence in the supply chain, whether for Dodd-Frank compliance or as part of a broader company strategy.”

Design Directions

As mentioned, there was something for everyone at BaselWorld, with a confirmation of previous design directions. The Nature theme, comprised of flowers, birds—especially peacocks— snakes, frogs, butterflies, and other natural creations was again evident. Colour in all its forms—gemstones, enamel, various metal treatments—was a definite favourite. Silver has definitely gained the status of a noble metal, as most brands offered collections in the white metal, with or without diamonds and gemstones, and often mixed with gold for a two-tone effect. Creative lacy looks and openwork designs continued unabated as prices of precious metals continue unabated. Men’s jewellery collections were also seen by an increasing number of brands.

As gemstones are also on an upward trend, jewellers have had to examine creative ways to showcase these colourful gems. Following the lead of designers featuring rough and included diamonds in fine jewellery for the last few years, others are now offering less expensive “raw” sapphires and emeralds, as well as other gems such as agate and quartz in a wide array of fashionable and affordable designs. The rose gold trend was again prominent, with many brands offering the warm tones with matching gemstones, as were the blackened metals—gold, silver, and titanium—in a multitude of creations.

Next year’s BaselWorld will be held even earlier, from March 8 to 15, while the following year, BaselWorld 2013 will return to its April timeframe, starting on April 25.