Singapore’s strategic role in jewellery in the ASEAN market was confirmed by the 18th edition of SIJE – Singapore International Jewelry Expo, held from 13th to 16th July at the Marina Bay Sands Expo and Convention Centre in Singapore. It was the first edition organised by IEG Asia with the support of the event founders, CEMS – Conference & Exhibition Management Services”. These are the words of Corrado Perboni, CEO of IEG – Italian Exhibition Group, IEG Asia’s parent company that manages the Italian gold and jewellery event calendar with the international Vicenzaoro show in its portfolio.
The authorities and institutions that opened the event – which enjoys the support of the Singapore Tourism Board
– included Indranee Rajah, Minister, Prime Minister’s Office, Second Minister for Finance and Second Minister for National Development, and Suryo Pratomo, Ambassador, Embassy of the Republic of Indonesia in Singapore.
THE BIGGEST EDITION EVER IN SINGAPORE
With 280 exhibiting brands among jewellery companies, manufacturers and exporters covering 8,000 square metres, the 2023 edition was the largest edition of the show that, with a B2B/B2C format, targets buyers and consumers mainly from Singapore and Indonesia – partner country – as well as the rest of South Asia. The offer, which focuses mainly on high jewellery, featured representatives from 28 countries including Singapore (over 60 companies), Hong Kong, Thailand, Japan, Indonesia, Malaysia, Sri Lanka and, to a lesser extent, Nepal, Poland, Spain, Switzerland, Turkey, the UAE and the USA. Nine exhibitors attended from Italy including Zydo for the 15th time.
THE ASEAN MARKET
Singapore, the economic hub of the ASEAN region with a catchment area of 600 million people, is a major development opportunity for gold, jewellery and watchmaking with a compound annual growth rate (CAGR) forecast for luxury goods of 4.64% over the five-year period 2022-2027*. The trend is supported by the entry of new jewellery brands and increased watch sales, and accompanied by rapid urbanisation and greater spending power.
MADE IN ITALY JEWELLERY IS LOOKING TOWARDS ASIA
The trend of Made in Italy jewellery exports confirms the potential for development: according to Confindustria Federorafi data, in 2022 Italy exported goods to the area worth 264.44 million euros, equal to 2.7% of sector’s total export value, with increases of +46.5% compared to 2021 and +89.4% compared to the pre-Covid 2019. Taken together, these markets stood in 9th place in the destination ranking with Malaysia, Singapore and Thailand as the top three markets in the region. There was also a decidedly positive trend in the first quarter of 2023, which closed with 81 million euros exported, +38.3% compared to January-March 2022 and a 3.2% share of total sector exports for the period analysed.
A REFERENCE FOR THE REGION’S JEWELLERY INSTITUTIONS AND ASSOCIATIONS
SIJE enjoys the support of the Singapore Jewellers Association (SJA) and counts several other institutions among its Community Partners: British Association of Singapore, International Women’s Federation of Commerce and Industry Singapore, Singapore Khalsa Association, Peranakan Sayang. Also present were the Hong Kong Jade and Jewellery Association and the Singapore Chinese Chamber of Commerce and Industry as Supporting Associations.
NEW IN 2024: SINGAPORE JEWELLERY DESIGN AWARD
Among the new entries for 2024 is the re-launch of the Singapore Jewellery Design Award 2024, which in the past, saw 93 candidates from 16 countries. The theme announced by IEG Asia is “Sustainable Luxury” with CEMS, SJA and JDMIS – Jewellery Design & Management International School all collaborating in the return edition. By the end of 2023, nominations will open in the different categories: “Fresh Facets” for students, “Jewellery Without Limits” and the unprecedented “Artificially Exquisite” dedicated to the use of AI in jewellery.
STATEMENTS
According to Ilaria Cicero, CEO of IEG ASIA: “The long history of SIJE and the enormous experience of CEMS, which remains involved in the planning and organisation of the event, is well matched by the skills of both IEG Asia’s team and IEG Jewellery & Fashion Division with its experience at Vicenzaoro and the various other initiatives for the jewellery industry it organises around the world.”
“SIJE is a new stage in IEG’s expansion strategy that offers our exhibitors and prospects an even richer portfolio of high-level events in the different continents. The Far East in particular, is one of the largest and most interesting markets for companies aiming at business expansion and product and know-how exportation,” says Francesco Santa, CEO IEG Middle East, Dubai & International Business Development Director IEG Group.
“In the coming years, SIJE will be an increasingly effective gateway to the Asian markets for companies in the gold and jewellery supply chain,” adds Marco Carniello, Global Exhibition Director Jewellery & Fashion at IEG. “The region’s growth rates are also an opportunity for Made in Italy companies and we will also be able to attract international exhibitors to our shows in Italy and around the world, from Europe – with Vicenzaoro and Oroarezzo – to the Middle East – with JGT in Dubai – and now to Asia with SIJE in Singapore.”
The next edition of SIJE is scheduled to take place from 11th to 14th July 2024.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
