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The odds were stacked against Signature 2013 – the impending gold import duty hike, flagging consumer demand, general economic malaise, and shrinking discretionary spending as a result of rising inflation. Serious buyers from across India reversed the mood at the show by indulging in plain gold, studded and couture jewellery. Shanoo Bijlani, Regan Luis, and Aliya Ladhabhoy report.

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Invited dignitaries and GJEPC officials do the honours at the ribbon-cutting ceremony.

ooks sometimes deceive. Although Signature 2013 wore a quieter look, it didn’t mean that there was no business transacted on the

show floor. In fact, serious business took place at a gratifyingly unhurried pace. More than 6,500 top buyers from all over the country were spotted choosing designer pieces that adorned the window displays at various booths. The jewellery, mostly neo-traditional, was an assortment of fancy and rose-cut diamonds. Coloured gemstones took pride of place in most pieces. The trends for the year are being clearly ascertained at this show.

The GJEPC, the organiser of India’s premier B2B show, is brimming with new ideas for promotional activities to take the industry forward this year, showing no trace of trepidation in the face of the slower pace of overall growth that has affected the market sentiment.

The sixth edition of Signature was inaugurated by chief guest Rita Menon, chairperson and managing director of the India Trade Promotion Organisation (ITPO). She was joined by the guests of honour, Stephen Lussier, CEO, Forevermark Diamonds and Siddharth Singh, joint secretary, ministry of commerce and industry.

In her keynote address, Menon said, “I am happy to see the level of modernisation, the awareness of certified products and a regulatory framework which this industry has exhibited over the years. Lately, I have also been closely working with the GJEPC to launch their first business-to-consumer initiative, the India Gems and Jewellery Fair (IGJF), which will be held in New Delhi. I am sure the IGJF is going to be another

successful and promising show keenly awaited by people in the neighbouring states of Rajasthan, Punjab and Madhya Pradesh.” (See Rita Menon’s exclusive interview with Solitaire on page 45.)

In his inaugural speech, GJEPC chairman Vipul Shah said, “Despite the many challenges faced in 2012, it has ended on a very promising note. We look forward to the new year with much hope and renewed vigour based on the many plans that the GJEPC has set into motion.” Shah announced that the Council will soon be organising its first ever business-to-consumer show termed as the India Gems and Jewellery Fair. The show will be held at Pragati Maidan in New Delhi on

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LThe Elite Club in the background offered a relaxed atmosphere for doing business.

April 12-15, bringing together the best of Indian gems and jewellery craftsmanship all under one roof. “It is an endeavour of the ITPO and the GJEPC to create a platform that can be taken to the world centre stage, thereby bridging the gap between the global consumer and Indian jewellery,” Shah noted.

Signature 2013 received an overwhelming response across all countries. Over 570 exhibitors, five international pavilions, and international delegations from Poland, Nepal, Turkey, Russia, Malaysia and Dubai, participated in the show. “Almost 90% of exhibitors have participated more than once and we enjoy the patronage of several visitors who have been coming to the show over the past five years. We look forward to a greater quantum of business being transacted during this year’s show,” Shah added.

In its endeavour to boost the gem and jewellery trade, the GJEPC will continue to hold dedicated buyer-seller meets with target markets. The Council will hold two such events in the immediate future – an Indo-China buyer-seller meet in Jaipur for coloured gemstones in April, and a jewellery conclave in Sydney to explore Australia’s vast retail market in May.

In his statement, Siddharth Singh praised the efforts of the Council and informed that the industry which employs

35 lakh people was also the second highest earner of foreign exchange for the country. “Gems and jewellery have figured prominently in India’s mythology, folklore and recorded history, and this sector remains close to the heart of all Indians. I have no doubt that all the participants at Signature will go back happy and will grow from strength to strength,” Singh said.

Speaking about India’s potential for growth and its increasing appetite for diamonds, Lussier said, “We think it is that inherent love for jewellery and diamonds, which together with economic growth in India is creating an opportunity to tap more consumers, and will continue to fuel India’s extraordinary expansion in diamond jewellery. We have aggressive goals for Forevermark and we’re looking to double our business every couple of years. We think there is great opportunity in India and will continue to expand to new cities across India to bring our promise to as many consumers as we can. For De Beers, Forevermark is a strategic priority. Needless to say, we’re extraordinarily excited about India, which is our global priority market. It’s going to require all of us in the industry to react quickly in order to maximise this fantastic opportunity.”

Premium offeringsSignature Club, the congregation of India’s

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The inauguration of the official show catalogue.

top couture jewellery manufacturers, showcased innovative collections with a high design quotient conceptualised with the aid of state-of-the-art technology. It was heartening to note that manufacturers created collections specifically for the show. It was evident that a lot of time and money had been spent on research and product development and some had even gone to the extent of patenting their designs. Design differentiation is clearly the only way forward in the maturing Indian market where consumers are now demanding quality and willing to pay a premium for unique products.

Deepak Dholakia, partner, CVM Exports noted, “Signature has become an important testing ground for showcasing our new collections as our customers give us instant feedback about them, and that helps us to prepare for the coming season.” Traditional and simple pieces are back in vogue with a little bit of sparkle in the form of rose cuts, polkis teamed with polished diamonds. Dholakia noted, “Yellow gold is working for our customers.”

Dr. Nawal Agarwal, owner, Birdhichand Ghanshyamdas Jewellers added, “We always focus on new concepts for this show and have introduced inlaying of gemstones in designs by using natural colour stones and producing a landscape that resembles paintings. Our Adrshya collection, which normally employs flat surface stones in invisible settings, is now designed with invisibly set cabochon gemstones. Signature is one show that helps us to challenge ourselves.”

Ankit Mehta, partner, Fab Jewels by KBS Creations, informed that they had introduced six collections under their brand Fab Unrounds. One emulated the splash of raindrops, while the other used the storyboard of the birth of a flower in various stages. The collections generated a lot of interest.

Catering to the demand for neo-traditional jewellery, Vasupati Jewellers proprietor Mansukh Kothari, who specialises in gold filigree work, introduced beaded jewellery to lower the cost component of gold. “Our latest

collections are a hit! They can be included in bridal wear for peripheral functions. The demand for jewellery ranges between R1 lakh and R10 lakh for a set. Gold jewellery teamed with coloured stones, beads, Basra pearls, kundan work and uncut diamonds is proving to be a popular choice these days,” Kothari said.

Even a basic ornament like mangalsutra, a traditional necklace worn by married Indian women, got a makeover. Rishabh Jain, owner, Trident Corporation, Mumbai, who was located in the Signature Club, launched handpainted mangalsutras ranging from R45,000 to R50,000. “The oil-painted mangalsutras are coated to prevent the paint from wearing off. Our mangalsutras with idols embellished with meena work and beaded chains have been well appreciated. Most of our clients have been from Maharashtra and Gujarat, preferring mangalsutras below 20 gm,” Jain stated.

Imagem introduced a collection with a unique diamond setting. Each solitaire lookalike is actually made up of nine diamonds in the form of an emerald cut. The composite collection is price competitive and the customer pays just 10% of what she would spend on an actual piece with emerald cuts. “We got a number of queries from customers all over India,” said Hitesh Lohia, partner at Imagem.

Uni-Design presented nine different collections at Signature. One particular

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collection in platinum that stood out is a technological marvel. “It has a fun element, in that the diamonds twinkle constantly without any external stimuli,” said Hiten Mehta, director, Uni-Design.

Broad bangles and cuffs mounted in 22-karat were a surprising hit. Most cuff/bangle manufacturers did brisk business at the show. For the first time ever, Sundaram Chains of Mumbai had introduced designer bangles and was flooded with offers from Hong Kong, Dubai, and northern and southern India. Kiran Jain, director of the firm, commented, “We are known for our 22-karat machine-made and handmade chains, but this year we thought of introducing our bridal bangle collection titled ‘Jura Jewels’. The 22-karat CNC bangles are made with German technology and are highlighted with enamel and rhodium plating. The 40-to-90 gram bangles/cuffs featuring enamelled motifs of butterflies and lotuses were the most popular bangles. It took us two years for product development, but it was worth the effort.”

Ajay Pahuja, director of AU Finja Jewels, Mumbai, also informed that their 22-karat bangles and cuffs were favoured by buyers from Tanzania and the UK and they placed bulk orders for the same. “Consumers love to invest in gold come what may,” he stated, adding that the new range consisting of twisted bangles, laser-cut, and rhodium-polished lightweight cuffs were the hottest-selling items. Even

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with a hint of traditional backdrop scored well. Gold rates were hovering around R29,000 during the show, so some exhibitors did complain that buyers were in the ‘wait-and-watch’ mode anticipating a further drop in rates.

Most exhibitors in the gold jewellery segment, however, gave a thumbs up to the show. Bhavik Jain, owner, M.R. Gold, Mumbai said that the introduction of temple jewellery motifs in mangalsutra pendants were a hit with southern buyers. His invoice book was filled with orders for the 22-karat filigreed pendants with embossed idols weighing between 30 gm and 80 gm, and Jain was confident that he would fulfil his order commitments prior to the wedding season beginning May.

Raghunath Sachwani, marketing manager, Damara, Mumbai, said that this show was better than the IIJS. “We love the format as we can spend more time with our customers thus enabling us to educate them about our product and innovation,” he said, adding that the company got buyers from the north, south, and the west.

the gold sardar kadas (a steel or iron bracelet worn by both Sikh males and females) ranging from 20 gm to 200 gm were in great demand.

Fusion jewellery that could be teamed with traditional and modern attire saw greater bookings at the show. Siddhartha Sawansukha, director, Sawansukha Jewellers, Kolkata, said that the show this year had fetched him a good number of orders. “Our fusion jewellery is perfect for bridal as well as semi-bridal wear. Since the past one year we have mastered the art of making jhumkas (chandeliers) and have come out with smaller versions for party and daily wear. The earrings that are studded with pearls, diamonds, polkis, rose cuts, and coloured beads, are the fastest moving items and were priced at upwards of R1.5 lakh. ”

Sama’s Navin Jashnani said that he had no words to express how good the show had been for his company. “We got quality buyers, who were willing to spend time with us to understand our product. We paid a lot of attention to innovation this time, to produce larger formats that were value for money. “The neo-traditional trend continues this season and we have introduced table-cut gems in our bridal sets and other jewellery that have received rave reviews by our buyers.”

Gold sizzlesIndia’s love for yellow metal is never-ending, and this was proved once again at the show. Modernistic jewellery designs

Buyers from Indonesia and New York also booked orders. Damara has done intensive research to control gold weight, but at the same time, make the product look bigger and snazzier. Providing more bang for the buck were the 22-karat bangles weighing as light as 8 gm, and set with Swarovski crystals. The other collection of broad bangles had more negative spaces and the use of enamel and rhodium-plating gave the bangles a fuller look.

There is no substitute for hard work and creativity and the payoffs are tremendous. Pankaj Kodnani, director of Krown Jewels, Mumbai, got many buyers for the 22-karat bangle collection that had matte and brushed finishes. The bangles were decorated with enamel and cubic zirconia and were conceptualised by an assemblage of handmade artistry and casting. “If the product is good, it will surely appeal to the purchaser,” said Kodnani. “He will even be willing to pay a premium for it.” Single-store owners purchased an average of 500 gm worth of goods from him, while multi-store owners

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placed orders for a minimum of two kilos worth of jewellery.

Dharmesh Dhakan, manager, Shakti Jewellers, said, “Signature has been a positive show for us. We had quite a few international visitors from Dubai as well as local retailers visiting our stalls. This is our second time at Signature. The average demand in terms of weight for a set of two bangles is between 25 gm and 30 gm, while necklaces weighing 20 gm, and pendant sets of 10 gm also commanded a slice of our sales. With gold prices sky-rocketing and import duties being raised, it has become a competitive market. We have had to make lightweight jewellery pieces that are easier on the pocket but still look heavy and are innovative. Our profit margins have definitely been hit.” All in all, the yellow metal once again scored high on popularity charts.

Gem-set baubles shineColour is back in jewellery. A variety of gemstones contrasted with polished diamonds, rose cuts, and polkis dominated the show. Some exhibitors like Rupak Saha, director, Shyam Sunder Company Jewellers, West Bengal, also used alternative material like terracotta beads, carved wood, and seashells in fine jewellery. Saha informed that most

of his goods were sold off on day one. “Visitors from Pune, Raipur and Patna picked up our new collection of gold jewellery enhanced with terracotta beads, carved wood embossed with 22-karat gold carvings inspired by the historical temples in Vishnupur in West Bengal. The Samudra collection featuring actual seashells and conches bordered with gold motifs also got a good response.”

Couture diamond jewellery, too, accommodated coloured gemstones in a fashionable way. Debutant at the show, Darshan Jariwala, proprietor, Zunda, Mumbai, commented that his necklace sets, cocktail rings and bracelets accented with gemstones received appreciation from top retailers of Nagpur, Bangalore, and Indore.

Shah Gems of Jaipur showcased their splendiferous pearl and coloured gemstone jewellery at the show. Shashwat Shah, partner at the firm, said, “We welcomed some serious buyers and were happy to have a select number of visitors. This show, therefore, is better than IIJS for us. We received a number of queries from Hyderabad, Bangalore, Jaipur, and Delhi among others.”

Gem-studded temple jewellery also found many takers. Amit Gulabani partner, P. Mangatram Jewellers,

Hyderabad, noted, “We have been making lightweight jewellery for some years now by reducing the gold content by 20-30% of what we did in the past. Our authentic temple jewellery has been received well by the southern market. A typical necklace set in this collection weighs from 30 gm upwards. Nysa, our lightweight collection of pendant sets that weigh from 600 mg to 16 gm, found favour in the northern regions and Maharashtra. Trade shows allows us to display more inventory rather than personal meetings where we may be carrying a bag or two of limited inventory. As a reason, we have done well at the show. There were no new clients, but our regular customers booked more than they usually did.”

High-end design house Golecha Jewels, known for their fine jadau jewellery, was inadvertently located in the gold jewellery section. Vijay Golecha, proprietor of the firm, said, “We were worried that this error would affect our sales. Surprisingly, it really worked in our favour. We managed to convert a number of casual walk-ins into serious business deals. Other than our regular jadau sets, visitors also liked our designer belt buckles and sherwani buttons in gold adorned with precious stones.”

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for us to meet our clients face-to-face and has helped us forge better relationships. We deal in solitaires from 0.25 to 5 carats, cut in round and fancy shapes.”

Tank also added that maybe India just wasn’t prepared to handle two major trade shows in a year.

Kirtan Sheth, manager, Sumit Export, attributed the low visitor turnout to the rising diamond prices. “The market has been silent for a long time now but with raw materials becoming cheaper, hopefully the situation should improve in the next two months. I think this year, the show is more about branding and visibility for us.”

Coloured gemstones in the mid-level segment did not see much demand. Buyers either opted for high-end products or went for low-end/imitation goods. Mukund Bubna, overseas sales manager, Wondercuts, said, “This year, the show has been very disappointing. People have become more specific in their demands. In the coloured gemstones section, emeralds and tanzanites have been doing very well. When it comes to price points, though,

people prefer either imitation or high-end products. There is not much of a demand for the mid-segment products. Heat-treated rubies as well as fancy diamonds are doing very well. People prefer diamond slices and black diamonds these days. We export a lot of black diamonds to Japan.”

Anil Punjabi, partner at Tahilram Tirthdas Jewellers, Mumbai, stated, “This show has fewer buyers as it overlaps with other international fairs like the Bangkok and Hong Kong shows.” Still, Punjabi received a decent number of queries for fancy carved stones, multi sapphires, crochet bracelets in copper, gold and silver with druzy, and real ‘embalmed’ roses that are coated with lacquer so that they may remain in bloom forever.

Signature is beginning to emerge as an important show for manufacturers to test new innovations and collections that set the tone for the rest of the year. This show gives them enough time to fine tune their products for the IIJS show in August, which precedes the mega festival and wedding season in the latter half of the year. n

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Mixed bag for loose gemsGemstones and fancy colour diamonds seem to be the flavour of the season. They outpaced loose diamond sales at the show. But, in general, visitors seemed to give the loose stone section a miss.

Dharmendra Tank, proprietor, Heeralal Chhaganlal Tank, Jaipur, stated that although coloured gemstone prices have been rising, gemstones such as rubellite, tanzanite and rubies are in demand. However, Tank was unhappy about the timing of the show as it clashed with Bangkok and Hong Kong shows, which will follow close on Signature’s heels.”

Most loose stone exhibitors felt that the show could do with some added promotional activity and marketing for the section. Chirag Mehta marketing executive, Star Rays, said, “I believe Signature is recognised more for being a premium jewellery show rather than a show for loose stones. We have not received as many enquiries as we would have liked to, but it is a great place to network. This show has made it possible

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