September 2020 - Lab Grown Magazine

September 2020 | The Lab Grown Diamond Resource Book 20 To advertise call (888) 832-1109 | September 2020 21 Fancy color LGD by Grown Diamond Corporation. 1.55-ct fancy intense pink Cushion Cut LGD by Forever Grown Diamonds. Fancy color light green-blue cushion-cut 0.96-ct LGD by Riddhi Corporation. A 20.23-ct fancy orange cushion LGD by Meylor Global. 1.5-ct emerald cut LGD by Paradiam. W ith the cancellation of its Las Vegas show last June, JCK Events scrambled to cre- ate a virtual trade fair providing the jewelry and watch industries the occasion to connect online. The result was JCK Virtual 2020 that kicked off on August 10. In addition to the virtual booths or showrooms on the platform, the event hosted a range of talks by industry experts on a variety of topics. According to show officials, the five-day event brought together some 3,400 attendees (which included 2,400 buyers) and 700 exhibitors— many from overseas—who were offered free par- ticipation if they signed up for the 2021 show. The home page of the event featured an im- age that was reminiscent of the entrance to the physical JCK venue at the Sands Expo in Las Vegas, but once inside, all similarities ended. The main show page offered the visitor the op- tion of searching the show, using the Exhibitor and Product Directories, by category, product, and company name. Each booth or showroom offered a description of the company, its mar- keting team, a few product photos and the opportunity to send a message to the team. The platform generally worked well, despite a few glitches here and there, as might be expected given the nature of the event. Since booths were maintained by the exhibi- tors, some were excellent, with good images, vid- eos and product descriptions as well as timely replies to messages, while others clearly needed more experience. “At a time when how our industry connects is not currently an option, JCK Events had a re- sponsibility to quickly pivot to bring our industry together and facilitate vital business connections in a new way… [T]he challenge was to create an online platform that replicates the experience of in-person meetings and browsing a diverse mix of products and exhibitors on a show floor as best as possible,” said Sarin Bachmann, Group Vice President, Reed Jewelry Group. “While our au- dience enjoyed feeling connected via the educa- tion, browsing product and meeting virtually, it was clear the digital experience cannot replace or fully replicate the experience of our in-person trade shows and events...” JCK Goes Vi r tual Report by Cynthia Unninayar Selection of LGD cuts and sizes by Diabon, from 0.3 to 6.0 ct. Selection of fancy shape LGDs, from melee to solitaries, by Neo Lab Growns. Pendant featuring a blue and white LGDs by Smiling Rocks LGD hoop earrings (2.5-6.5 ctw) in 14K gold by Splendid Lab Diamonds. Selection of fancy shape LGDs by Green Rocks. Blue heart shape LGD by Unique Lab Grown Diamond. LGD diamond ring in gold by Fenix Diamonds. LGD with the Hearts and Arrows pattern by Ecostar. Mixed Opinions In messaging and sometimes speaking to a number of exhibitors, it was clear that reactions were mixed. The three most frequent comments I heard from vendors were: (1) it was a very slow show; (2) most people with whom the exhibitors communicated were other vendors trying to sell them something; and (3) the virtual show cannot come close to replacing a face-to-face event. On the other hand, all of my interlocuters thought this virtual gathering was a good first step and a promising option in light of the cur- rent health crisis. They also felt that this type of event could be a good adjunct to traditional in- person fairs, especially in terms of networking. Some also reported that they made a few good contacts for future follow-up, and one advantage was that visitors could log on from home or office any time during the show day. Lab-Grown DiamondsWell Represented As in traditional trade shows, the variety of products was wide, from inexpensive silver pieces to sumptuous diamond and gemstone jewels in platinum or gold, from delicate charms to splen- did bridal rings of all sorts. Showing the growing importance of the lab- grown sector, LDGs even had their own catego- ry, which listed 37 exhibitors, mostly growers or wholesalers, while a number of other LGD jew- elry companies were listed in other categories. For lab-grown diamond exhibitors, reactions and experiences were similar to those of other companies. Maulik Navadiya, sales manager of Toronto- based Neo Lab Growns, stated, “Overall, the show was okay, but we felt that traffic was really low even after creating an above-average profile, running a special promotion for JCK, and con- tacting numerous visitors using the matchmaking tool. Having said that, we connected with a de- cent number of potential clients, which hopefully will develop into a good business relationship and ultimately make some sales.On the technical side, the meeting platform worked well, but the matchmaking wasn’t programmed well for the job. Since it was just the first year and they did all this in a short period of time, we are looking forward to the coming years where the platform will be improved and hopefully they can do more marketing to get more traffic online for people who cannot visit the show.” Rahil Shah, Operations Manager of New York-based Paradiam, commented, “The show is a great effort to stay connected with the market. More than immediate sales, we expected to make some good connections with some good people and we are finding that.” Darshan Joshi, of India-based Diabon, com- mented, “At the recent JCK Virtual 2020, we saw an increase in inquiries for lab-grown diamonds and were able to connect with a lot of new pro- spective clients and we are very optimistic of con- verting these inquiries into long-term clients.” He added that he is “very confident that the demand for LGDs will increase in the years to come and will create its own space for millennials, eco-sensitive and other consumers looking to own the luxury of a diamond on a tight budget.” The pandemic has brought to the world’s atten- tion the need to bring trade shows to cyberspace while efforts are made to eliminate Covid-19. During these efforts, new opportunities will arise as online shows, large and small, pop up around the world. Still, though, exhibitors and buyers say they are looking forward to JCK Las Vegas, scheduled to return to the Sands Expo, June 4-7, 2021. Images are courtesy of the company featured. ■