Dubai International Jewellery Week
The Dubai International Jewellery Week, the new format of the country’s largest such exhibition, opened Tuesday. Some 300 exhibitors are showcasing their goods to a crowd consisting of wholesalers, retailers and many consumers.
The show’s new format combines three shows that had run separately in the past: the luxury show Areeq Dubai, the retail show Jewellery Collections Dubai, and the trade show Jewellery Trade Dubai.
The largest of the three, Jewellery Collections Dubai, was heavily dominated this week by private consumers with varied tastes and interests, seeking to buy directly from diamond and jewelry wholesalers.
Exhibitors reported inquires for high color loose diamonds in clarities of VS+, usually for diamonds weighing over a carat. However at the same time, many exhibitors reported interest only in finished jewelry. In those cases, inquires focused on items set with smaller goods of SI quality.
In terms of design, buyers sought out rings with large abstract shapes and big heavy necklaces with very ornate designs. In both cases the jewelry was set with baguette cut diamonds. In general, fancy shapes were far more popular than round cuts.
Exhibitors showcasing animal-oriented designs – tigers, snakes, lions and birds were the most common – also saw a lot of interest. These designs were heavily set with diamonds and other precious stones.
Dubai Jewelry Industry Leaders Meet with Saudi Counterparts to Discuss Cooperation
Leaders of the Dubai jewelry industry met recently in Jeddah with their Saudi counterparts. On the agenda were discussions of cooperation and mutual partnerships with the aim of promoting regional trade.
Senior members of the Dubai Multi Commodities Center (DMCC), International Diamond Laboratories (IDL) and the Dubai Diamond Exchange (DDE) met with the President of the Saudi Jewelers Committee as well as leaders of the Saudi jewelry industry to discuss cooperation options.
Saudi gold and jewelry consumption is estimated to exceed $7.2 billion annually, making Saudi Arabia a crucial market. “Considering that Saudi Arabia accounts for 70% of the region’s diamond jewelry market, cooperation between Dubai and Saudi Arabia is clearly vital,” said Youri Steverlynck, CEO, DDE. “By creating new synergies, we can further enhance the regional diamond market and, in the process, increase the level of confidence in the diamond market among both retailers and consumers.”
2008 World Jewelry Confederation Congress to be Hosted by Dubai
The 2008 Congress of the World Jewelry Confederation (CIBJO) will be held in Dubai and is to be hosted by the Dubai Multi Commodities Center (DMCC). The event is scheduled for April 14-16, 2008.
This is the first time that the congress is to be held in the Middle East. According to a statement from CIBJO, the choice of Dubai for this gathering of jewelry trade organizations and professionals “comes in recognition of the emirate’s increasingly central role on the global jewelry stage.”
Among the expected participants are members of the international jewelry trade as well as UN and governmental representatives.
“The CIBJO Congress is the leading event of its kind in the world, and we are delighted to hold next year’s meeting in Dubai, which is rapidly emerging as an international capital for the jewelry trade,” said CIBJO President Dr, Gaetano Cavalieri. “Together with DMCC, we will ensure that the event is a great success, generating even further attention to the important role Dubai plays in the global jewelry trade.”
Gem & Jewelry Academy to Open in Dubai
An initiative by the UAE-based ARY Group, the ARY Academy of Gems & Jewellery, will be established in Dubai and will open its doors on January 5. The academy will provide extensive education and training in all aspects of the gold and precious metals trade.
It will also offer various certificates and diploma courses in the design, manufacture, assaying and management of gems and jewelry, geared to support the growth and transformation of the gold and jewelry trade in the area.
Programs offered at the institution will cover various aspects of Gemology, Jewelry Design, Gem & Jewelry Management and Business Administration.
The initiative is recognized by the Knowledge Village in Dubai, a learning community established as part of a long-term economic strategy to develop the region’s talent pool and accelerate its move into a knowledge-based economy.
“The region has been witnessing tremendous growth in per capita consumption of gold and jewelry, increase in the number jewelry retail outlets, and employment opportunities in this sector,” noted Academy CEO Sarwat Abdul Razzak. “It is imperative that such a growing industry gets the support of qualified and trained personnel in all aspects of the trade.”