The manufacturers and retailers who participated in the first US-based Indo/US Jewelry Business Development Conference which concluded on May 3, expressed high levels of satisfaction and called for planning to begin for a similar event in 2016, a report on the Conference released by the GJEPC today said. The 2016 conference dates and location will be released as soon as they are finalised.

The 3½ day event was designed to help leading manuacturers from India have detailed one-on-one interaction with leading retialers from the US. Manufacturers who took part included KGK Creations, Kama Schacter, Supergems and Uni-Design, while retailers from the US included Sterling, Reeds of NC, IJO and Ross Simons.

Vipul Shah, GJEPC’s Chairman said, “We envision this type of event as an ongoing platform for members of this most critical link in the international fine jewellery supply chain. It helps build one-on-one sourcing relationships and address broader issues to increase efficiency and profitability within the sourcing process.”

The concference was inaugurated by Dr. Ausaf Sayeed, Consul General of India’s Chicago office, who acknowledged the role of the GJEPC in fostering trade development throughout the US.

In addition to the direct interaction between manufacturers and retailers, the conference also had three presentations by independent experts from the US. Benjamin Smithee, Chief Strategy Officer, RELEVENTS, New York delivered the opening Keynote on “Today's Changing Jewelry Consumer” dissecting the mindset and actions of current (Gen X & Gen Y) and emerging fine jewelry consumers (Millennials); Ben Janowski, principal, Janos Consultants, New York, whose presentation "The Ugly, the Bad, the Good...and the Maybes" explored critical industry trends and dynamics affecting the major U.S. retailers and their suppliers; and Barbara Raleigh, principal, International Design Source, New York, who spoke about "The Design and Fashion Imperative", providing a detailed understanding into what makes saleable jewelry, including a review of current fashion trends.

At a joint supplier-retailer moderated panel session on the penultimate day, panelists stressed the need to create an industry-collective marketing and advertising programme in the North American market.

"The U.S. is the world's largest jewellery retail market, and these top retailers are our most important customers," said Sohil Kothari, Director at Fine Jewellery Mfg., Mumbai, who chaired the event's Manufacturer's Committee. "We are extremely pleased with the results. Manufacturers and retailers had fruitful individual meetings and worked excellently as a group to address issues of mutual concern."

"Thanks for giving us the opportunity to participate. It was a good investment of our time," reported John Berglund, group vice president for Fred Meyer, Portland, which operates more than 300 Fred Meyer Jewelers and Littman Jewelers locations nationwide.

Pic: Chief guest Dr. Ausaf Sayeed addressing the conference