NATIONAL EVENTS MAY 26 / 2023

Union Minister Shri Piyush

Goyal Felicitates Top
Exporters at the 49th India
Gem & Jewellery Awards
The Gem & Jewellery Export Promotion Council
(GJEPC) organised the 49th edition of the India Gem
& Jewellery Awards (IGJA) in Mumbai. Hon’ble
Chief Guest Shri Piyush Goyal Hon’ble Minister for
Commerce & Industry, felicitated 27 top Gem &
Jewellery exporters during the award ceremony.

by GJEPC READ MORE

 SOLITAIRE SPECIAL

Signet CEO Virginia Drosos:

I See Bright Skies Ahead In
2024
In an exclusive interview with Solitaire during her
recent trip to Mumbai for a meet-and-greet with
Indian supply chain partners, Signet Jewelers CEO
Virginia Drosos recognises the headwinds and global
economic environment affecting US diamond jewellery
demand and believes that collaboration with partners
is crucial to navigating fluctuations and providing
customers with high-quality products.

by REGAN LUIS READ MORE

 VIEWPOINT

Anoop Mehta, A Man On A

Mission!
Anoop Mehta’s name is synonymous with Bharat
Diamond Bourse (BDB), an iconic landmark of India’s
diamond industry. As the President of the BDB since
1995, Mehta exemplifies the virtues of perseverance
and patience. Thanks to his leadership, BDB is now
a thriving centre for diamond trading recognized
globally for its transparent administration and high-
security systems and efficient administration.

Shri Piyush Goyal, Hon’ble Union Minister for Commerce & Industry, Government of India seen
presenting the IGJA Lifetime Achievement to Anoop Mehta. Accompanying them are Vipul Shah,
Chairman, GJPEC, Frank Geerkens, Consul General of Belgium in Mumbai, and Kirit Bhansali, Vice
Chairman, GJEPC.

by SHANOO BIJLANI READ MORE

 IN FOCUS - DIAMONDS

Could The US Banking

Crisis Have A Ripple Effect
On The Diamond Industry?
The recent banking crisis in the US has sent
shockwaves through the economy, with many experts
predicting that it could have a significant impact on
the luxury market. The crisis was brought about by
a number of factors, including the collapse of several
large financial institutions, the subprime mortgage
crisis, and a general lack of oversight and regulation
in the banking sector. As a result, many consumers
have been left with less disposable income and a
decreased appetite for luxury goods. This could spell
trouble for high-end retailers, who may see a decline
in sales as a result of the crisis. However, some luxury
brands have been able to weather economic downturns
in the past by focusing on quality and exclusivity, and
by targeting high-net-
worth individuals who are
less likely to be affected by
economic turbulence.

by SHANOO BIJLANI & REGAN LUIS READ MORE

READ MORE
 DEMAND MAPPING

After Respite, China

Positions To Reassert Itself
As Diamond Industry’s
Fastest Growing Large
Market
China’s diamond industry is poised for a rebound
in 2023, following a pandemic-induced recessionary
period, according to US-based analyst Paul Zimnisky.

Chow Sang Sang has grown its store count by 61% since 2019. © TungCheung/Shutterstock

by PAUL ZIMNISKY READ MORE

 VIEWPOINT

Unlocking The Power

Of Machine Learning In
Jewellery Retail: GJSCI &
IIT-Bombay Workshop
Machine learning has the power to revolutionise the
jewellery retail industry, and the Gem and Jewellery
Skill Council of India (GJSCI) in collaboration with
IIT-Bombay is at the forefront of this transformation.
On March 27th, 2023, GJSCI and IIT-Bombay
organised a one-day workshop on the “Application
of Machine Learning in Jewellery Retail Business
Analytics” to provide practical knowledge and insights
into the latest machine learning techniques and their
applications in the jewellery retail industry.

© MangKangMangMee/Shutterstock

by REGAN LUIS READ MORE

 BULLETIN

De Beers Rough Sales of

$540 Million At 3rd Sight
Buoyed By China Recovery
De Beers said rough diamond sales at its third sight
of 2023 declined 5% year-on-year to $540 million.
However, sales grew 9% versus the preceding second
sight of the year. While sales at the third sight were
slightly lower than the same period last year, which
reported sales of $566 million, the company remains
optimistic about the diamond industry’s future.

Photographer Elaine Banister / © Anglo American

by GJEPC READ MORE

 ARTIST’S DESK

Philippe Lauras, The

Modern Traditionalist
Paris-based Philippe Lauras is a highly skilled
jewellery artist who debuted his collection in the
designer section of Gem Genève called Vivarium,
curated by the renowned Vivienne Becker. Despite
being a new entrant to this section, Lauras is not
a novice in the field. He had already honed his
craftsmanship by working in ateliers that collaborated
with some of the most prominent names in the
industry, such as JAR, Fred, Cartier, Harry Winston,
and Marina Bulgaria, among others.

Falbala earrings crafted with white, red gold-palladium embellished with 206 gradient coloured emeralds
and two pear-shaped pink sapphires. By Philippe Lauras

by SHANOO BIJLANI READ MORE

 DESIGN FEATURES

Bulgari’s Serpenti Design –

Counting 75 Years of Success
Bulgari is celebrating a decadent 75th anniversary of
its iconic reptile – the Serpenti. Designed for the first
time in the late 1940s by the brand’s Greek silversmith
founder, Sotirio Bulgari, the bejewelled snake has lived
up to its mythical representation of a wealth protector
and brought consistent prosperity to the Italian
jewellery brand ever since. Seeing the Serpenti’s ever
growing popularity, Bulgari expanded the Serpenti
line into jewellery and high jewellery watches and other
fashion accessories. Today, the Serpenti collection
and the associated high jewellery watches are the most
important revenue streams for Bulgari says Fabrizio
Buonamassa Stigliani, Product Creation Executive
Director (Watch Division)
at Bulgari, who outlines
the intricacies and
complexities behind the
success of the Serpenti
line in an interview
with Shilpa Dhamija in
Geneva.

by SHILPA DHAMIJA READ MORE

 VIEWPOINT

Adapting To Thrive:
Strategies Behind Shobha
Shringar’s Success
Shobha Shringar Jewellers is a renowned family-
owned independent house that has been in business
for 40 years. No two jewellery pieces are alike at this
showroom, which is situated at Mumbai’s strategic
area overlooking the Queen’s Necklace. Founded by
a gritty Shobha Choksey, who broke the glass ceiling
and started by selling handcrafted jewellery from her
home, Shobha Shringar has come a long way and today
is a brand to reckon with. Her son Snehal Choksey,
Director, and daughter-in-law Nisha, Creative
Head, help her in running the showroom and the two
franchisee stores in Surat and Hyderabad, that attract
not just repeat customers but engage the new-age
customer with equal ease.

by SHANOO BIJLANI READ MORE

 BULLETIN

Damas CEO Mr. Luc

Perramond Explores India
Retail Presence!
Mr. Luc Perramond, Chairman and CEO at Damas
Jewellery, the largest brand of the Middle East region,
visited the GJEPC Head Office at Bharat Diamond
Bourse on 14th April on his first visit to India.
Thanking the Council for its warm hospitality, Mr.
Luc Perramond commented, “We have longstanding
relationships with several manufacturers in India and
these business ties will only grow stronger with the CEPA
agreement that was signed between India and UAE. We
are here to explore whether Damas should enter the
Indian market. We had a presence in India a while ago,
and the brand recall is strong and we have a loyal client
base. We are the largest jewellers across the GCC including
countries like KSA, Kuwait, Qatar, and Oman.”

by GJEPC READ MORE

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READ MORE
 BULLETIN

LVMH Watch & Jewellery

Q1 Revenues +11% To €2.58
Billion
LVMH Moët Hennessy Louis Vuitton, the world’s
leading high-quality products group, reported an
excellent start to the year, recording strong revenue
growth in all its business groups, including Watches &
Jewellery, for the first quarter of 2023.

The overall group revenue was €21 billion, up by 17%

compared to the same period in 2022, despite the
geopolitical and economic uncertainty present globally.

A Serpenti art installation by Bulgari in Beijing, China, circa 2013

by GJEPC READ MORE