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The five gemstone and jewellery industry specialists who shared their experiences and insights at the online conference were Lawrence Ma of Lee Heng Diamond Group, Nirmal Bardiya of RMC Gems India Ltd, Yoshihiro Shimizu of Hosei Co Ltd, Prida Tiasuwan of Pranda Group and Winston Chow of Chow Sang Sang Holdings Int’l Ltd.
Letitia Chow, director of Business Development for the Jewellery Group of UBM Asia and founder of Jewellery News Asia (JNA), served as the conference moderator.
The conference was sponsored by the Israel Diamond Institute.
In his presentation, Ma of Lee Heng Diamond focused on the challenges faced by the diamond trade today, noting that rough diamond supply was “relatively inelastic and unlikely to grow at the same pace as demand.”
He also underscored the importance of just-in-time inventory management among diamond manufacturers.
Bardiya of RMC Gems said the gemstone sector is facing its own set of challenges. Demand in the US remains weak although there are some signs of recovery, while demand in Europe and Japan remains low.
Gemstone demand in China, however, is robust, particularly for high-grade tourmaline, rubellite, prehnite, blue topaz, Ceylon sapphire and ruby, he said. In India, emerald and commercial-grade ruby are the most sought-after gems, Bardiya continued.
In his presentation, Shimizu of Hosei Co Ltd said stock management is the key to managing price volatility. Members of the pearl trade must constantly monitor the market, evaluate trends and adjust their inventories, he said.
Chow of Chow Sang Sang Holdings focused on the impact of price fluctuations on the retail sector and consumers, while Prida of Pranda Group underscored the changes shaping the gold and silver jewellery retailing scene in Western markets.
To access our JNA Online Conference archives, click here