News from Mumbai
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31st August 2010
Dear Friends
IIJS Show 2010
This year’s show has already seen success in the first 2 days, as unexpected number of retailers/ jewelers turned out on the first day after inauguration.
There was serious buying reported from majority of the booths, both in jewelry and loose polished.
Still Majority of Buyers (B2B) were Indians from all over India but there were also few international buyers like Chinese delegation, 32 buyers from CIS countries headed by Alex Popov and few important Turkish buyers seen at booths of our Indian Sightholders.
In Hall 1 for Loose Polished there were good orders placed for below 50 pointers in SI to I qualities mainly lower I, J, K colors and then in Browns all sizes and price ranges were saleable very fast.
Many Indian companies found that somewhere there were very few inquiries for larger sizes (+1 cts and up) even for GIA certified stones. At the same time there were very good demands for 2 cts and up.
Before the show had started there were fears that due to Gold prices speculating and reaching very high there will be less orders from local companies but this was not the case and retailers were ready to place orders in Volume.
All B2B Buyers are very bullish about the wedding season in India and majority of them have reported excellent sales from April – July this year which is normally a very quite period of the year. They preferred working with big to medium jewelry manufacturers if there was an innovative new product based on Indo Western designs.
Majority of the participants need more booths and have been complaining about the lack of space to the council.
On Sunday 22nd August, 500 Indian Retailers felicitated Vasantbhai Gajera Founder of Laxmi Diamond/ Cygnus for his Lifetime Achievement and Contribution towards Jewelry Industry across India.
With warm regards
Sharookh Kocheck
Chief Executive Officer, Mumbai