Good Business at Rescheduled JCK Trade Shows – Internet Stones.COM Media

The rescheduled JCK Show and JCK Luxury Show scheduled to be held August 24-30, 2021 at The Venetian Resort & Sands Expo at 201 Sands Avenue, Las Vegas, was held as scheduled despite low attendance and attendance at shows , caused by the rapid spread of the Delta variant of Covid-19 in the United States.

Despite low attendance and the absence of some major industry players, trade show attendees expressed satisfaction with the volume of business they were able to achieve during the week and the business relationships they were able to achieve. establish with serious buyers in the sector.

JCK Las Vegas Show Venue

The show kicked off with the Couture and Antique Jewelery & Watch shows, held at the Wynn Hotel Complex August 24-26 and the invitation-only JCK Luxury show, held August 24-30 at the Sands Expo Convention Center. JCK’s main show was also held at Sands Expo, started on August 27 and ended on August 30, 2021.

While the number of exhibitors and visitors was down at all shows, those who attended were seen as serious buyers and sellers who came to do real business. The owner of Israel-based VMK Diamonds, a supplier of fancy colored diamonds, commenting on the show, said, “I’m so glad I came. I met a lot of people and these people came to do business. Another attendee, a New York-based diamond merchant, said: “There were serious buyers. We have made sales with immediate payment, which does not always happen at trade fairs. Other attendees also echoed the same views and sentiments that serious buyers were present. Michael Indelicato, CEO of New York-based polished diamond supplier RDI Diamonds, who was an exhibitor at the JCK show, said, “The show wasn’t great, but it was good. Our sales were about the same as a pre-pandemic show. And that too from the least of the people who were here.

While high profile exhibitors and buyers, as well as major wholesalers and retailers were notably absent from the show, most of those who attended and had a greater presence at the show were independent jewelers and small retailers. According to Amit Mehta, CEO of the Jewelry Division of Dharm International New York, most of these independent jewelers and small dealers were looking for merchandise ahead of the holiday season. Another interesting observation that was made by a representative of a jewelry design house that exhibited at the Couture and Antique Jewelery & Watch shows, the first show that started on August 24, is that while some people have canceled their participation in the show at the last minute, others decided to come at the last minute when they saw the crowds at the Couture fashion show.

International dealers from countries like Belgium, India and Israel were unable to attend the show due to Covid-related travel restrictions imposed in those countries. According to Eshvar Kotahwala of New York-based dealer Vinod Kotahwala, “The show lacked the usual liveliness we get from dealers running around and looking for deals. International dealers bring a buzz that draws people into the diamond business. Therefore , this year we were just another pavilion. However, those who came made offers, and if you had the right goods, you could sell. There is a lack of goods in the market, so it is difficult to buy.

According to Amit Mehta, buyers were very targeted in what they were looking for, and if you had the inventory, they bought on the spot. He further stated that the demand is there, but there are problems on the supply side. On top of that, high crude prices had caused people to start cutting back on their purchases of these commodities. Several market participants noted that while inventory levels had increased in recent months, there was a shortage of the right products at a profitable price.

The general consensus among the participants was that the constant demand for diamonds and jewelry

was driven by positive consumer demand, with retail dynamics trickling down the supply chain, as Amit Mehta argues. As a result, JCK’s suppliers and buyers agreed that 2021 had been a bumper year for the diamond and jewelry trade. Eshvar Kotahwala felt that having seen strong sales in the first eight months of the year, retailers had little inventory, prompting them to attend the show and place orders for the future. The two-month delay in holding the show due to the pandemic also injected some urgency into the market during the events. According to Le Vian brand CEO Eddie Levian, there is only a very small window for suppliers to prepare orders by the holiday season.

So, that means the post-show follow-up is as important as the event itself, given that the holiday season is approaching. Based on the results of the show, dealers are now confident about the US market for the rest of 2021. However, New York diamond dealer Michael Indelicato is optimistic that with Christmas approaching, it will there will be an increase in demand for polished diamonds and this demand and prices will remain high at least until the first quarter of the year 2022. He believes that there is pent-up demand for diamonds and that positive momentum is being drawn by consumer demand. He concluded on an upbeat note, saying, “We’ve had the best year ever and retailers need merchandise, which was clearly evident at the show.”

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