Notizie dall’ICE febbraio 2023

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Condividiamo alcune notizie provenienti dagli Uffici Esteri dell’ICE.

GIAPPONE – SONDAGGIO SULL’AQUISTO DELLE FEDI NUZIALI

(ICE) – ROMA, 24 FEB – “Review Lu”, un web-media locale, il mese scorso ha condotto un sondaggio su 225 uomini e donne tra i 20 e i 30 anni che hanno acquistato fedi nuziali.

Il 62,2% degli intervistati per gli anelli nuziali ha speso tra i 100.000 e i 300.000 Yen (700 -2.100 Euro), mentre il 19,5% ha speso tra i 300.000 e i 500.000 Yen (2.100 – 3.500 Euro).

Il marchio giapponese “4°C” si è classificato al primo posto in termini di marca di fedi nuziali acquistate, tenendo testa ai piu’ noti brand internazionali come Tiffany (secondo) e Cartier (terzo).

Altri 3 marchi giapponesi – I-Primo (quarto), Ginza Diamonds Shiraishi (quinto) e Niwaka (sesto) sono stati inclusi nella top 10. Il marchio Bvlgari, unico brand italiano incluso nella lista, si è classificato al 21° posto. I risultati lasciano intuire che i giovani sposi giapponesi non sono orientati al lusso, ma tendenzialmente preferiscono selezionare fedi nuziali non appariscenti e di fascia non eccessivamente alta. (ICE TOKYO)

DMCC ANNOUNCES 17% DIAMOND TRADE GROWTH IN 2022

(ICE) – ROMA, 17 FEB – Dubai rises rapidly as the world’s leading hub for rough and polished diamonds:

DMCC has reported a 17 per cent year-on-year increase in the value of diamond trade in 2022, totalling $37.4 billion combined for rough and polished diamonds, including a 42 per cent rise in the polished category and a consistently strong 7 per cent rise in rough.

The soaring figures are further evidence of the rapid rise of Dubai as the world’s leading hub for rough and polished diamonds. The UAE has witnessed soaring growth over the past three years, with rough diamond trade rising by a total value of 72 per cent and polished by 50 per cent, representing a combined increase of 64 per cent. The announcements were made on Wednesday at the International Coloured Gemstone Association (ICA) Congress 2023 at Almas Conference Centre in Dubai, convening key players and industry stakeholders to advance the global trade of coloured gemstones.

Held under the theme “The Future of Coloured Gemstones,” the ICA Congress 2023 focused on the key opportunities to unlock sustainable growth in the global coloured gemstone industry. This event also marked 15 years since DMCC last hosted the ICA Congress. Dubai is now looking to increase support and add further value to the coloured gemstone industry. This includes gemstones like emeralds, rubies, and sapphires mined, manufactured, and sold worldwide.

“We could not have chosen a better moment to reveal these figures, which further proves Dubai’s monumental rise in the diamond trade. DMCC is growing and maturing fast, and it goes without saying that we want to replicate our success with diamonds to other precious stones and commodities,” said Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC. “The coloured gemstone industry is exciting given the strong growing global demand, and we want to firmly position Dubai centrally in that trajectory. We have seen this first hand with the number of emerald, ruby, and sapphire tenders held at our Dubai Diamond Exchange. DMCC has a proven track record of boosting commodities trade from nearly zero to multi-billion dollar figures, and as such, I am confident that the future of the coloured gemstones industry is in, and through, Dubai.”

The ICA is one of the top industry bodies for the global coloured gemstone industry. It comprises over 500 gem industry leaders, including miners, manufacturers, suppliers, retailers, trade associations and others committed to promoting coloured gemstones. Clement Sabbagh, President of the ICA, added: “We are delighted to be back in Dubai after 15 years to discuss the future of coloured gemstones. DMCC has played a key role in building Dubai’s diamond industry, and we are confident that their efforts in the coloured gemstone space will benefit all global players. I look forward to working with Ahmed Bin Sulayem and the wider DMCC team more closely over the coming years.” (ICE DUBAI)

ISRAEL’S JEWELRY INDUSTRY ENJOYING AN UPSURGE

(ICE) – ROMA, 17 FEB – Exports of jewelry totaled $873 million in 2022. Personalized silver items top the sales list.
Israel’s jewelry industry has been on an upsurge since the Covid-19 pandemic. Worldwide sales totaled $873 million in 2022, which compares with $791 million in 2021 and just $552 million in 2020.

Among the post prominent Israeli manufacturers and exporters are Tenengroup, which trades under the Myka brand, and has a production facility in Kiryat Gat; Yvel, based in Motza, near Jerusalem; and Zuman Jewelry from Ness Ziona.

Oren Harambam, executive director at the Manufacturers Association of Israel and head of the consumer goods and construction materials association, says, “The upsurge mainly stems from growth in sales of jewelry on Internet platforms developed in the past few years, and from the reopening of malls and stores in Europe and the US after the peak of the pandemic. The main countries to which Israel exports are the US (65%), India, the UK, Sweden, Turkey, the Netherlands, Germany, and Italy.

“We see the demand trend continuing at least at its current level. Although there is uncertainty in Israel and around the world, which affects luxury purchases like jewelry, on the whole the manufacturers are giving positive feedback, and the feeling is that export revenue will remain at least at the current level.”

According to the Manufacturers Association’s breakdown, global demand for personalized Israeli jewelry (such as with a personal engraving or a dedication) is on the rise, and silver jewelry is the top seller. Sales of gold jewelry, by contrast, are declining; a global trend, according to Bloomberg, with slowing demand in the largest markets.

The Manufacturers Association points to some outstanding trends among Israeli buyers in 2022 that have continued into 2023: cocktail rings with large stones; earrings with pearls and precious stones reaching to the shoulder; wide and massive cuff bracelets; and also massive chokers. In addition, the “grandma pins” trend has made a comeback, and is expected to gather momentum in 2023. (ICE TEL AVIV)

DONGHAI, CHINA’S COUNTY FOR CRYSTAL IS GLITTERING OVERSEAS

(ICE) – ROMA, 16 FEB – In a live broadcast room in East China’s Donghai Crystal City, the 29-year-old Fan Fan is doing her best to present a set of glittering crystals to her customers in the UK in front of a bright screen in chirpy English.

In 2021, an overseas e-commerce team of the Crystal City opened a small shop on the TikTok platform in the UK, where Fan first got in touch with British customers and found crystals – which are endowed with meanings such as good luck, healing, and energy in the West – may be more popular than she thought in some foreign countries.

“Running our store on the platform for a while, we found that sales of crystal products were quite good in the UK, and it is also easier for foreign merchants to learn about our crystal products directly through live broadcasting,” Fan told the Global Times on Wednesday.

Up to now, Donghai Crystal City has nearly 1,000 online shops overseas, with a particularly high penetration in nations like Indonesia, Southeast Asia and some regions in the US.

Among them, sales in the UK have been “particularly stable,” according to Fan.

Fan is just one of the increasing players who are engaging in the cross-border e-commerce industry in Donghai county.

From January to September of 2022, there were more than 5,100 cross-border e-commerce operators in the county, with a transaction volume of over 2.4 billion yuan ($350.53 million), who created more than 30,000 jobs, according to data from the local government.

Glittering history

Donghai county, located in East China’s Jiangsu Province, is well-known for its rich silicon mineral resources, with crystal reserves of 300,000 tons and quartz reserves of 300 million tons, accounting for more than half of the country’s total.

On October 1, 1991, Donghai county held its first Crystal Festival and paved the way for its nationwide fame as China’s “Crystal County”. At that time, the county with a permanent population of only 40,000 people attracted nearly 200,000 people to the scene, setting a record in 30 years.

“Not only do we have the largest quantity of crystal but also the best quality,” said Chen Lin, president of the Donghai Crystal Research Association.

The crystal in Donghai has the highest purity. More than 99.99 percent of its content is silicon, according to Chen.

In 1992, Donghai Crystal City was established to standardize trade and industrial chains as businesses are rising. With a construction area of about 450,000 square meters and facilities such as restaurants, hotels, a cinema, banks, logistics, insurance, exhibitions and auctions, Crystal City became a national center for crystal trade to the domestic and outbound markets.

It also has the largest collection of crystal displays and provides sales channels for the interaction of online and on-site merchants.

Empowered by the booming crystal industry, the county is currently one of the top 100 counties of China.

Silver lining

However, as COVID-19 disrupted traditional sales channels, the crystal industry in Donghai explored more ways to reach more buyers online, and livestreaming and cross-border e-commerce platforms were found to be the most cost-efficient ways, becoming a silver-lining for local traders.

Unlike photos, which may show a distorted image, the crystal’s gloss, fullness and its three-dimensional craftsmanship can be seen very clearly in a video, Zhang Hong, a local crystal trader, told the Global Times.

With the use of just one mobile phone and access to the internet, many traders who once relied on on-site sales channels have turned their attention to cross-border platforms with lower promotion costs and the stronger consumption power of foreign buyers, Zhang said.

This “easy” method also encouraged more villagers to join the “nugget boom”.

Domestic platforms such as Taobao, Douyin and Kuaishou have opened livestreaming bases in the county.

“We will further promote the creation of local e-commerce brands, through various methods such as government promotion and platform incubation,” Crystal City said in a statement it sent to the Global Times on Wednesday.

It is also striving to build up the intellectual property of the Donghai Crystal brand, deepen the regionalization and brand image of local crystal products, and encourage and guide e-commerce companies to promote and sell crystal products through professional packaging and standard building. (ICE SHANGHAI)

QUALITY GOLD ACQUIRES HERCO

(ICE) – ROMA, 3 FEB – Quality Gold, the jewelry wholesaler and distributor has announced it is buying Herco Jewelry Company, the San Francisco-based wholesaler started by the Itelman family in 1979. Herco President Reuven Itelman is retiring, and I believe he has found in Qulity Gold a buyer who keeps the Herco name alive.

Itelman said that knowing Michael Langhammer (co-founder and CEO of Quality Gold) believes that Herco is in good hands also considering that Quality Gold already has a plan for the survival of Herco. The acquisition of Herco by Quality Gold is strategic to have the ability to distribute more 18-karat gold and platinum jewelry and tap into Herco’s network of independent luxury retailers.

Herco generated more than $25 million in revenue in its most recent fiscal year ended December 31, 2022. Jason Langhammer, chief operating officer of Quality Gold, believes this acquisition is a “smart and strong addition” to the company.

Quality Gold will begin fulfilling Herco orders in mid to late February and will comply with all current dealer notices, the company confirmed. Over time, all Herco’s operations will move from San Francisco to Quality Gold’s headquarters in Fairfield, Ohio. The operation should be completed by mid-February.

Itelman believes that there is nothing more beautiful than the jewelry business. It’s where art, engineering, and design meet, and he’s very pleased with his journey. The pending acquisition of Herco is the latest in a series of acquisitions for Quality Gold, which recently purchased IBGoodman Manufacturing Co.

Last fall, Quality Gold announced plans to go public through a merger with Special Purpose Acquisition Company (SPAC) Tastemaker Acquisition Corp. The deal is expected to close in the first quarter of 2023. Once done, Quality Gold will become Quality Gold Holdings Inc. and will trade on the Nasdaq Stock Exchange under the ticker symbol “QGLD”. (ICE HOUSTON)

BUDGET 2023: GOVT TO CUT IMPORT DUTY ON RAW MATERIAL FOR LAB-GROWN DIAMONDS

(ICE) – ROMA, 1 FEB – Nirmala Sitharaman on Wednesday proposed a cut in import duty on seeds used to make lab-grown diamonds with a view to boosting domestic manufacturing.

In her budget speech, the Finance Minister said that India is a global leader in the cutting and polishing of natural diamonds, contributing about three-fourths of the global turnover by value.

“With the depletion in deposits of natural diamonds, the industry is moving towards Lab Grown Diamonds (LGDs) and it holds huge promise. To seize this opportunity, I propose to reduce basic customs duty on seeds used in their manufacture,” she said.

Gem and jewellery exporters had demanded a cut in the import duty.

The industry stated that the conventional source of rough diamonds across the world faces threats of deposit depletion, which also contribute to the exponential increase in the cost of extraction. Industries have thus found lab-grown diamonds to be a profitable alternative.

These lab-grown or man-made diamonds are grown inside a lab using cutting-edge technologies under specific parameters.

They have a similar physical appearance, chemical composition and optical qualities as natural diamonds.

An LGD is produced using a seed, which is a crucial raw material.

“It was a mixed budget for the gems and jewellery industry as the finance minister did acknowledge the potential of the LGDs for exports, and to create employment,” Kama Jewelry fonder and Managing Director Colin Shah told

Read more at:
https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/budget-2023-govt-to-cut-import-duty-on-raw-material-for-lab-grown-diamonds/articleshow/97520683.cms (ICE MUMBAI)

CENTRE RAISES IMPORT DUTIES ON SILVER IN BUDGET 2023

(ICE) – ROMA, 1 FEB – The Indian government on Wednesday announced an increase in import taxes on silver and silver dore. The move comes as the Cenrte aims to align the duty structure with gold, pulling silver imports up to 15% and silver dore to 14.35%.

India is the world’s biggest importer of silver.

“I also propose to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum,” Finance Minister Nirmala Sitharaman said, while she was presenting the Budget for 2023-24 in Parliament.

India raised its import duty on gold in July 2022.

The basic customs duty on silver was raised to 10% from 7.5% and Agriculture Infrastructure and Development Cess (AIDC) on the imports to 5% from 2.5%. Silver dore will carry a 10% basic import duty and 4.35% AIDC.

Local silver prices jumped by up to 2% after the duty changes.

The import duty on articles made of precious metals was increased to 25% from 22%. There has been no change in import duties on gold.

Read more at:
https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/centre-raises-import-duties-on-silver-in-budget-2023/articleshow/97520446.cms (ICE MUMBAI)

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