Diamond trade glitters despite economic crisis
Güncelleme Tarihi:
by Ceylan Yeğinsu
Oluşturulma Tarihi: Mart 20, 2009 00:00
ISTANBUL -While the effects of the crisis have taken some of the shine of the jewelry industry, the Istanbul Jewelry Show that opened its doors to visitors Wednesday showed that serious buyers had not lost the sparkle in their eye for jewels.
The 28th International Jewelry, Silver Watch and Equipment Fair, otherwise known as the Istanbul jewelry show, is one of the largest fairs worldwide that brings together local and foreign producers, wholesalers, retailers, exporters, importers and designers to promote and observe new trends.
The event organized by ROTAFORTE and hosted by the Istanbul CNR expo is expected to attract over 30,000 local and foreign visitors.
The opening day of the fair saw a wide range of attendees from couples looking for wedding rings to serious diamond tycoons, and as a result the halls were set up according to the different types of jewels, including diamonds, silver, pearls, gems, watches, clocks, machinery, tools and equipment. While the majority of the halls were bustling with people, the diamond exhibitors received noticeably fewer visitors. Alaatin Kameroğlu, president of the Istanbul Chamber of Jewelry highlighted the fact that since the start of the crisis, over 2,000 jewelers have shut down and out of these the diamond industry has been the worst affected.
According to Kameroğlu diamond exportation worldwide has decreased by 66 per cent. Kameroğlu pointed out that despite efforts to decrease the prices of diamonds and emeralds, sales remain low, as even the wealthy have started to economize on luxurious items.
The fair has great importance for Turkey, as it aims to take its place among the leaders of the jewelry industry. Turkey’s success in producing gold jewelry has resulted in Turkey becoming the second-largest exporter and the third-largest producer in the world, behind Italy and India. Speaking at the opening of the Jewelry show Wednesday, the chairwoman of the ROTAFORTE International Trade fair and Media, Şermin Cengiz, said their goal was to make the fair the top event in the global jew
The event organized by ROTAFORTE and hosted by the Istanbul CNR expo is expected to attract over 30,000 local and foreign visitors.
The opening day of the fair saw a wide range of attendees from couples looking for wedding rings to serious diamond tycoons, and as a result the halls were set up according to the different types of jewels, including diamonds, silver, pearls, gems, watches, clocks, machinery, tools and equipment. While the majority of the halls were bustling with people, the diamond exhibitors received noticeably fewer visitors. Alaatin Kameroğlu, president of the Istanbul Chamber of Jewelry highlighted the fact that since the start of the crisis, over 2,000 jewelers have shut down and out of these the diamond industry has been the worst affected.
According to Kameroğlu diamond exportation worldwide has decreased by 66 per cent. Kameroğlu pointed out that despite efforts to decrease the prices of diamonds and emeralds, sales remain low, as even the wealthy have started to economize on luxurious items.
The fair has great importance for Turkey, as it aims to take its place among the leaders of the jewelry industry. Turkey’s success in producing gold jewelry has resulted in Turkey becoming the second-largest exporter and the third-largest producer in the world, behind Italy and India. Speaking at the opening of the Jewelry show Wednesday, the chairwoman of the ROTAFORTE International Trade fair and Media, Şermin Cengiz, said their goal was to make the fair the top event in the global jew