Signature 2019: Exhibitors receive lukewarm response on day 3
The ongoing 12th edition of IIJS Signature in Mumbai has once again raised the bar in terms of showcasing exception jewellery with lots of innovation. Like always, the gold jewellery section has received the maximun attention from the buyers. But gold is not something that the buyers are thinking about at the current edition. They are buying, keeping in mind the market demand, exclusivity and the design element involve in a jewellery piece.
Althogh, the first two days of the show generated satisfactory business and footfalls, a very limited set of buyers visited the show on the third-day of IIJS Signature 2019. Escalating prices of gold, upcoming general election and the overall slackness in the market are few of the factors that has affected the business at the 12th edition. We spoke to a cross section of exhibitors on the third day. Here’s what they have to say about the show.
Satisfied with the 12th edition, Viraj Thadeshwar, Director, Shringar House of Mangalsutra, Mumbai, commented: “Before the show the expectation were low. There was high possibility of low footfalls. But on ground the situation is very different. People are positive as there are good sales season ahead of us. We have seen more and more demand of lightweight jewellery. Not mainly because of the high gold rate but also because of the usage. The consumers don’t want to wear something that is very heavy. Especially in tier II and III cities there is a growing demand for light-weight mangalsutra. This edition, jewellers from these cities have come in large numbers and supported the show.”
Vineet Vasa, Director, Lotus Jewellery Collection, Rajkot too believe that the trend has shifted towards light-weight jewellery. “In view of the high gold rates, the buyers have once again shifted to light-weight jewellery. Since our range of bangles starts from 4-5 grams onward, we have catered the buyers well who were looking for jewellery in this range,” he said. “The first two days of the show was good both in terms of business and footfalls. The third day was somewhat dull. Overall, Signature has provided the much-needed boost in the business. Everyone has conducted business irrespective of the market conditions,” he informed.
Pointing out another reason for low turnout of retailers at the 12th edition, Dhaval Bhindi, Director, Bhindi Jewellers said, “Today, the buyers are fulfilling their inventory requirements from other jewellery shows. In India, a lot of new jewellery shows have come up in the recent time. Although, Signature is an exclusive show and the manufacturers prepare new jewellery collections that you’ll find at no other trade fair, the buyers have too many options and they are migrating to other shows.”
According to Amit Soni, KIK Jewellery Kolkata, IIJS Signature 2019 was average in terms of business and attracting new buyers. “Being a focused show, Signature attracts genuine buyers. But this time around only selected buyers visited the show. Whoever, has brought something new to the table, find the buyers for it,” he shared. This year KIk has introduced quality designer collections. “One of the collections is a fusion of ferozi meena work with Kolkata’s Nakshi and Chitrai handwork. Another one is a fusion of gold taar work with high polish along-with diamonds in the contemporary range,” he added.
Mehul Solanki, Director, Solanki Jewellers said, “The show was good for us. Although, the buyers have stayed away from heavy-weight jewellery as the metal prices are high, our new collection have done exceptionally well. This time we have showcased new necklace designs in the bridal range. For many, Signature 2019 may not have turned as expected, but for us surely the 12th edition was one of the best.”
For Manish Bhindi, Director, Bhindi Manufacturers, Rajkot the 12th edition has generated a lukewarm response. “A lot of factors have affected the turnout at Signature 2019. High gold rate, upcoming general elections and the slowdown in demand that has been continuing from the last few quarters are the prime reasons for low footfalls. We have observed that a lot of our buyers have stayed away from this edition.” This year Bhindi manufacturers have launched their ‘Green Gold’ collection set in Swarovski Zirconia.