JCK Las Vegas show kicked off Monday (June 5), and the Israeli Diamond pavilion enjoyed healthy traffic, and exhibitors expressed optimism.
“JCK Vegas got off to a good start”, said Israel Diamond Institute (IDI) Chairman Shmuel Schnitzer, “We witnessed long queues of buyers at the entrance early on, and the Israeli pavilion enjoyed good traffic. The first day is always an indicator for things to come, so we have positive expectations for the upcoming days here”.
“Israeli exhibitors I talked to told me that goods are in high demand, particularly for large diamonds of 3-4 carats, as well as round and Fancy. Demand for larger diamonds is more moderate. The problem, as ever before, is profitability. Rough prices are still too steep compare to polished prices, and profitability is low, if it exists at all. Generally speaking, I was favorably impressed with the first day, and we hope that the upcoming days will continue the trend”.
Schnitzer also commented on the DPA’s decision to spike their marketing budget to $57 million in 2017, saying: “The DPA’s decision has become the talk of the day. Everyone sees it as a step in the right direction, since we all feel that the marketing of ‘diamond’ as a brand suffers in comparison to other luxury goods. The DPA’s made a welcome decision”.
JCK Las Vegas, the largest jewelry show in the US, will run to Thursday, June 8.
