CMP Asia yesterday announced that the Hong Kong Jewellery & Watch Fair (JWF) has been renamed the Hong Kong Jewellery and Gem Fair (JGF). According to the organization, the name change better reflects the wider scope of the fairs. Both the June and September editions of the fair in 2009 will be using the new name.

“The exhibit profile of the fair is very different from 26 years ago when it started with the September edition,” said Director of Jewellery Fairs, CMP Asia Celine Lau. “Materials like diamonds, gemstones and pearls are of increasing importance alongside fine jewelry.”

The name change follows the announcement that the layout of the September fair will also be changing in 2009. Raw materials, including diamonds, will now be exhibited at the AsiaWorld-Expo (AWE) with finished jewelry being housed at the Hong Kong Convention & Exhibition Centre (HKCEC). Many diamantaires have expressed fears that their business will suffer as a result of being relegated to what is seen as a less popular location.

continue reading "Hong Kong Jewellery & Watch Fair Changes Name"

Hong Kong billionaire and business magnate Cheng yu-Tung has agreed to pay over $90 million ($HK700 million) for some assets of bankrupt Hong Kong luxury watchmaker and retailer Peace Mark (Holdings) Ltd., say Peace Mark’s liquidator and Hong Kong and Shanghai press reports.

Chow Tai Fook Enterprises, Cheng’s privately-held conglomerate which includes jewelry stores, will take over some of Peace Mark’s retail businesses in China, Hong Kong, Macau and Taiwan, say the reports and provisional liquidator Ferrier Hodgson. The deal reportedly includes Rolex shops in Tsim Sha Tsui, Hong Kong (but not TimeZone stores there, which sell mid-range watches).

Approval of the deal by Hong Kong’s high court, and a formal announcement, is expected as early as this week.

At press time, it was unclear how the deal affects the Swiss-made Milus luxury watch brand, owned by Peace Mark, or Peace Mark’s agreement with Tourneau, Americas biggest watch retailer, to build a chain of fine watch stores in China. Also uncertain, until the official announcement, is if the deal includes any of Peace Mark’s six watch factories in the mainland China.

continue reading "Billionaire to Buy Some Peace Mark Assets"

The dual location Hong Kong Show was never going to be an easy sell. While the Hong Kong Convention and Exhibition Center (HKCEC) throngs with traffic, the show’s other location, AsiaWorld-Expo (AWE) near the airport, is much quieter, with many attendees bypassing the ‘secondary’ location altogether.

At last year’s September show, a number of exhibitors remarked that they were biding their time out at the airport until they got a spot in the main show. Other companies had booths in both locations, although many simply used their airport stall to direct buyers to their location at the main show. While the situation remains the same this year, from 2009, everything is about to change, leaving some exhibitors very angry indeed.

Noting the disparate sales in the two arenas, show management, CMP Asia Ltd, have decided that from next year, the show will be divided according to ‘product sectorisation’. In essence, this means that finished jewelry will be showcased at the HKCEC while the AWE will display raw materials such as machinery, pearls, gemstones and diamonds.

The new arrangement has, understandably, left many unhappy. There is some talk of those who feel that they are being relegated to the AWE boycotting the event altogether. Others feel that it will take only one try of the new format for show organizers to realize what they believe to be a huge mistake.

The show organizers, however, say that the new plan is devised to concentrate similar sectors of products in the same value to “enable buyers to source the products they seek efficiently, while exhibitors can meet their target buyers intensively. Both venues will consequently be equally successful for their participants and visitors, and will posses the same importance.” Exhibitors, meanwhile, remain unconvinced.

This year, more than 2,600 exhibitors from 44 countries are participating in the fair. There are 20 country pavilions including Belgium, Thailand, Italy and Israel. The show continues until September 21.

Source: www.idexonline.com

The Gemological Institute of America Alumni Association will hold its GemFest Hong Kong 2008 during the Hong Kong Jewellery & Watch Fair on Friday, Sept. 19 at the Hong Kong Convention and Exhibition Centre in Room 601.

GemFest Hong Kong will include a presentation by Dr. James Shigley, GIA distinguished research fellow, on how GIA scientists collect and analyze samples from known geographic sources to support the Institute’s country-of-origin reports and build an ever-expanding database of gemological information on colored gemstones.

GemFest participants will also hear about Shigley’s recent expedition to gem mining sites in Tanzania.

The morning’s presentation will be followed by a question and answer session featuring Shigley and Kenneth Scarratt, managing director, Southeast Asia and director, GIA Research, Thailand.

The GemFest Hong Kong will start at 8:30 a.m. with a continental breakfast, followed by the GemFest presentation at 9 a.m., then followed by the Q&A period. The event will end at 10:30 a.m.

This is a free event, but interested persons should register online by Sept. 12 at www.gia.edu/alumni or giahk@netvigator.com. The phone number in Hong Kong is +852-2303-0075.

Source: www.jckonline.com

China and Hong Kong’s diamond and jewelry industry members are confirming massive participation at the first ever Middle East China Diamond and Jewellery Summit, says the Dubai Multi Commodities Centre (DMCC).

The summit, with its special focus on the Middle East China diamond and jewelry trade, aims to enhance trade relationships across the entire value chain of this fast-growing industry in both regions. Confirmed participants at the summit, to be held from November 8 – 9, 2008 at the Atlantis Hotel in Palm Jumeirah, include top names like Chow Tai Fook, Chow Sang Sang, and Luk Fook, in addition to leaders from the Shanghai Diamond exchange, Diamond Federation of Hong Kong, China ltd and Worldmart of Panyu.

continue reading "MAJOR CHINESE PARTICIPATION IN 1ST MIDDLE EAST CHINA DIAMOND & JEWELLERY SUMMIT"

The Antwerp World Diamond Centre (AWDC) said Thursday that 73 Antwerp-based diamond companies would participate in its pavilion at the Hong Kong Jewellery and Watch Fair in September.

“Together, the Antwerp diamond companies are by far the most important foreign presence in Hong Kong,” the AWDC said.

The AWDC will host pavilions at two different locations, at the HKCEC in the Expo Drive Hall and the AsiaWorldExpo, Hall 5 and 9.

AWDC added that it plans to launch its HRD Awards 2009 jewelry competition, a biennial diamond jewelry competition, at the opening ceremony of the fair.

The competition is open to professional and non-professional designers from all over the world, who submit original designs which have not previously been put on display or commercialized before.

Source: www.diamonds.net

More than 50 Israeli diamond manufacturers and exporters will be participating in the upcoming Hong Kong Jewellery & Watch Fair scheduled for September 17-21.

Forty Israeli companies are set to exhibit as part of the Show’s Israel Diamond Pavilion, which is being organized by the Israel Diamond Institute Group of Companies (IDI). The companies will show off polished diamonds and diamond jewelry all specifically tailored to Asian markets. The Pavilion will also feature the IDI’s image booth, which will provide information on the Israeli diamond industry.

In preparation for the Show, the IDI has created a mini-site for the Pavilion, which enables buyers to virtually visit it prior to the Show. The mini-sit, which can be accessed through the IDI portal www.israelidiamond.co.il/exhibition/index.aspx?id=5 includes details of all Israeli diamond exhibitors and a map of their location at the Show.

“There was an increase of 35% in Israel’s net polished exports to Hong Kong in the first half of 2008 and that trend is expected to continue during the year,” says IDI Managing Director Eli Avidar. “If we continue in this way, this market is going to account for more than 25% in 2008.”

IDI Chairman Moti Ganz says, “We se Asia as the major growth market for Israeli diamond exports. In the coming years, IDI will be focusing its marketing efforts on developing these markets, especially Hong Kong, China and India.”

Today Hong Kong is the second largest market for Israel’s polished diamond exports, representing 19 percent of total sales. In 2007, net exports of polished diamonds to Hong Kong reached more than US$1.3 billion.

Source: www.diamondintelligence.com