The recession in the United States has been making big news lately. Not only are consumers in the United States concerned about the state of economic affairs, but consumers in other countries are closely watching the economy in the United States as well. As a result, there has been quite a bit of concern that this state of affairs would create somewhat of a ripple effect in Europe, affecting the diamond jewelry trade. As the BaselWorld jewelry show was set up to kick off, this became one of the primary topics of conversation.
BaselWorld is currently the largest trade show for gems and jewelry in the entire world. More jewelry trade is made at this trade show than in other around the globe. Fortunately, though, reports coming out of the trade show have put concerns regarding any possible ripple effect in the European diamond industry at rest. According to reports, the diamond jewelry traffic has been quite steady. In fact, traffic and activity this year has even shown an increase from last year. In particular, large gem stones are selling quite well, indicating that the trend and preference for large gemstones is still continuing despite the woes regarding the economy in the United States.
Industry observers have noted that the Basel show has quickly become the preferred show for big stones in the last few years. In fact, it has been noted that many dealers who have been somewhat reluctant at other shows, including the show in Hong Kong, have not shown the same reticence at Basel. Of particular importance is the fact that a large number of both retailers as well as buyers from the United States have been present at Basel this year. Compared to 2007, when American retailers and buyers were largely absent, this is certainly good news.
The BaselWorld show kicked off on April 3, 2008 and ran through April 10, 2008.
The good news coming out of the show would certainly seem to consolidate the reputation of the show as it attempts to become the leading international jewelry show. This year more than 2,000 exhibitors were present and on site with products covering approximately160,000 square feet.. The interest in the Basel show has certainly not gone unnoticed by the media who are covering it in a much larger fashion this year than in the past. The lifestyle and specialist media in particular have honed in on the show. It was estimated that more than 2,500 journalists from around the globe would be at the show reporting on the trends which are demonstrated at the show as well as the jewelry innovations which are presented at Basel.
Retailers and exhibitors appear to be quite pleased with the turnout and their success at the show as well. In fact, a number of exhibitors have made it public knowledge that they do not intend to attend any other shows in the future. This means that media personnel as well as consumers who wish to stay abreast of the latest innovations in jewelry will need to keep a close eye on the Basel show. As such, the importance of the show cannot be underscored enough, especially as many retailers use the show to unveil a number of luxury goods.
While the show is well known for its jewelry exhibits, watches are also on high display at the show. Visitors to the show can browse a wealth of watch exhibits ranging from practical to high luxury set with numerous diamonds. Show designers have certainly recognized the popularity of the watch exhibits and have even designed a “Hall of Fascinations” in which to present a wide number of watch brands and products.
A jewelry hall was also designed exclusively for this year’s show as well. The decision was made to design the new hall after it was determined that the amount of interest in the jewelry presentations had grown considerably. The design of the new jewelry hall was clearly geared to highlight the upmarket designs of most of the jewelry presented in this hall. The additional space of the new hall is set to provide exhibitors with the space they need to offer a wider degree of versatility.
In addition, a new approach has been made at the BaselWorld show, with part of the show being dedicated to very high end and highly refined exhibitions and presentations in order to provide visitors with a show experience they will certainly never forget.
Of course, diamonds are also taking a center role in this year’s BaselWorld diamond show. In fact, BaselWorld has come to be recognized as the premier a annual meeting place for international diamond trade.
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