Israeli Diamond Industry To Have Record Presence at Hong Kong March
Author:bea Date:2/19/2009 2:45:59 AM Read:8925
The Israeli diamond industry will have a larger presence than ever before at the Hong Kong International Jewellery Show from March 4 to 8, 2009. This year, 61 Israeli diamond manufacturers and exporters will be exhibiting, with 41 of these companies located in the Israel Diamond Pavilion, organized by the Israel Diamond Institute Group of Companies (IDI). IDI sources say that the unprecedented participation of Israeli companies attests to the overwhelming interest that the Israeli Diamond Industry has in expanding its business in Asian markets.
The Israel Diamond Pavilion is located in Hall 5, Aisles D, E, F, G and Annex. IDIs information booth is located at 5F21 at the entrance to the pavilion. It will provide assistance to buyers and help them find the goods they require in the pavilion. In honor of the fact that this is largest Israeli Diamond delegation to the Hong Kong March Show, IDI will be holding a festive cocktail reception in Hall 5 in the Oasis area, opposite the diamond pavilion, on Friday March 6, between 2 and 3 p.m.
An online mini-site, which can be accessed through the IDI portal site at http://www.israelidiamond.co.il/Exhibition/index.aspx?id=8&lang=eng enables buyers to visit the pavilion virtually before the fair. The mini-site includes contact details for all Israeli exhibitors, as well as a map indicating the location of each at the show.
Most of the Israeli companies participating are refocusing their marketing efforts, offering different and lower priced goods than before. Elona Bilet, Marketing Director of Trapz, says that the company will offer smaller pairs — called the Mini Trapz Collection — which she says "offers the same unique look of trapezoid side stones but smaller and at a much more affordable price." She added that Trapz will also be focusing on lines of radiants, cushions and emerald cuts in smaller sizes for eternity bands, bracelets and necklaces. "We expect these to sell well. We assume customers are looking for alternatives to larger stones and will be looking for multiple stone layouts that have the same big look but at a much cheaper price."
Isaac Badra, Sales Manager of veteran fancy-shape manufacturer Vulcan & Co., which is a first-time participant in the show, says that due to the economic situation the company is offering the same goods at lower prices. "The price list and the market have both dictated that diamond prices are down. We have to adapt ourselves to the market," he said.
Other Israeli participants also have lowered expectations for the show but are cautiously optimistic. Bilet says that they have set up appointments with existing clients but hope to meet new buyers from Asia and Australia. Eran Ben Yehuda, Marketing Manager of fancy manufacturer Dani Avlas Diamonds, says they hope at least to cover their expenses. "Weve informed all of our regular clients in Asia, as well as in Europe and the U.S., that well be at the show. We hope to see them and to meet new clients — especially from new markets," he said. Badra says that he has spoken to clients and they will be at the show. "We know theyll come to see us but we dont know how much theyll buy. I dont have any expectations, but Im optimistic and hoping for the best," he said.
Moti Ganz, chairman of IDI, said that now more than ever, Hong Kong, as the gateway to the Far East, is a major focus for the Israeli diamond industry. "For years we have looked to the Far East as a huge growth market for Israeli diamonds. Our industry, which is known for its flexibility and adaptability, is seeking now especially to expand its efforts in these markets. IDI is working hand in hand with the industry to promote these efforts," he said.
Eli Avidar, IDIs managing director, stressed that the Far East, with Hong Kong leading the way, represents a growth market for Israeli diamond exports now and in the future. "Although the world economic crisis is affecting the Far East, we are looking forward to seeing some encouraging signs at the Hong Kong show in March," he said.
Avidar added that he was very optimistic about the medium- and long-term prospects for Asian markets. "China has evolved into an independent market for luxury goods and jewelry, with a great amount of wealth being created. In the coming years we believe that China will become an important consumer of polished diamonds, and we are focusing our marketing strategy on developing this market," he said.
According to Avidar, IDIs representative office in Hong Kong is spearheading efforts to enhance trade contacts with the region. In addition, he noted that IDIs Chinese-language portal site has become an important vehicle for facilitating direct contacts between the countries.