All large gems and jewellery shows present an opportunity to hold a number of events and activities around the show dates, not necessarily related to the exhibition. The September Hong Kong Jewellery & Gem Fair was no exception.

ALROSA, this year, organised a client meeting on September 16th at a hotel in Hong Kong on the sidelines of the fair. The focus of the meeting was on synthetics and the challenges that they posed to the natural diamond industry if mixed or sold without disclosure.

The Russian miner had earlier commissioned Bain & Co. to do a study on synthetics, and the findings of the consultancy were presented at the meeting. The study underlined the position taken by various natural diamond industry quarters and organisations representing it. It noted that the undisclosed sale and mixing of synthetics represented a threat to the diamond industry; that the two value chains need to be clearly differentiated and there should be full disclosure. Interestingly, Bain also stressed that there is a need for greater marketing efforts for natural diamonds as the millennials which are emerging as the main consumer group are relatively unexposed to diamonds.

A panel discussion was also organised at the meeting which had the participation of – among others – Chairman of The Gem & Jewellery Export Promotion Council (GJEPC), Praveenshankar Pandya; Antwerp World Diamond Centre (AWDC)  President, Stephane Fischler;  CEO of the Diamond Producers Association (DPA), Jean-Marc Lieberherr; and Lawrence Ma,  Founder and Chairman of The Diamond Federation of Hong Kong, China (DFHK).

Pandya outlined the various steps taken by the GJEPC to tackle the issue of synthetics being mixed with natural diamonds. He briefed the group about the detailed study conducted by GJEPC; and informed them that a new one had also been commissioned as a follow up; which is currently underway. Pandya said that the recommendations from the first study are being implemented in phases. He also spoke about the Gemmological Institute of India’s (GII) Quick Check machine which is a state-of-the-art detection instrument. He concluded by saying that it is important to ensure consumer confidence and to clearly establish a differentiation between natural and synthetic diamonds so that both products can run in their respective business channels.

Various other members also outlined the steps being taken in their countries to meet the challenges thrown up by the trade of synthetic diamonds without disclosure. 

Pic Cap: Chairman GJEPC, Praveenshankar Pandya (centre) with (ext lft) Stephane Fischler, President AWDC and (ext rt) DPA CEO Jean-Marc Lieberherr