Japan will become the focus for the much of the world diamond industry from January 24 through 27, 2018, as thousands of exhibitors and buyers gather at the Tokyo Big Sight exhibition ground for the 29th edition of IJT (International Jewellery Tokyo), the most important jewelry trade show in the world’s third largest diamond market.
More than1,300 exhibitors and 31,000 buyers are registered for the show, representing department stores, chain stores, wholesalers and importers, apparel boutiques, specialty stores, mail-order and online stores, TV shopping channels, watch retailers and jewelry manufacturers, from across the country, the region and much of the world.
In 2016, demand for diamonds in Japan passed the $6 billion market, rising 8 percent on the amount recorded a year earlier, and making the country the fastest growing major market during the course of the year. The reason for the dramatic increase was mainly an 11 percent appreciation of the Japanese yen against the U.S. dollar, although sale volume were also solid throughout. In 2017, the yen depreciated by a modest 3 percent against the dollar, and this is likely to be reflected in the end-of-the-year results.
But the fundamentals of the Japanese market are strong. According to De Beers research, fully three quarters of sales are non-bridal, and a great many are self-purchases made by Japanese women themselves to celebrate individual achievement. In contrast, in the United States non-bridal diamond jewelry only accounts for 34 percent of total sales.
Furthermore, up to 93 percent of women under the age of 30 in Japan have a strong desire to own diamond jewelry, and the growth rate in the average price per item bought is significantly higher for buyers in this group.
But women over the age of 55 are of critical importance in Japan, making up 37 percent of market value in 2016, as opposed to only 16 percent in the United States. Some 68 percent of the diamond jewelry they buy are self-purchases, largely because they have more disposable income than younger consumers.
MID House of Diamonds will have a prominent presence at IJT 2018, with its stand located at Booth A11-14 the Tokyo Big Sight exhibition ground. It will feature a large collection of white and fancy-colored loose diamonds, including blue, pink, green and yellow, in all shapes and sizes from 0.30 carats to plus-10.00 carats. All eight of the company’s international sales offices will be sending much of their top-quality material to the show, among them a selection of rare GIA certified loose diamonds. Also on exhibition will be a collection of unique, high-end diamond jewelry, including rings, necklaces, bracelets and earrings, featuring white and fancy-colored diamonds.
Scenes from the 2017 edition of International Jewellery Tokyo (IJT).
MID House of Diamonds is one of the most prominent suppliers of loose diamonds to the Japanese market, and was recently recognized for its achievements when its Israeli office was awarded the Outstanding Israeli Exporter to Japan for 2017 in the “diamonds” category, by the Israel-Japan Friendship Society and Chamber of Commerce. In 2015, so that it could service and supply its Japanese client base in the most effective way possible, MID opened a permanent office in Tokyo, which is located in the Okachimachi CY Building in Ueno, the city’s gemstone district.
It already is possible to set up an appointment with MID at the show by contacting the company’s Tokyo office, at tel: +81-3-4520-8085 or email: [email protected].