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After the November 2021 edition and two years of cancellation due to the global pandemic, the jewellery world is back in Geneva. This edition is however affected by the Ukraine-Russia conflict.
At Palexpo, in Switzerland, high jewelry is back in the limelight for a weekend. The GemGenève show, intended for professionals and collectors but also for the curious, was held last weekend.
For the show, no less than 200 exhibitors gathered for the occasion, sometimes coming from far away, like Susana Grau Batlle, jewelry designer. She came from Washington, excited “GemGenève is an international event, it brings together the best in jewelry. So for me it’s a privilege to be here, I’m very grateful. It’s a magnificent event, everything is very well presented.”
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But the jewelry business, which had shown remarkable resilience in the wake of Covid, is now facing the collateral effects of the war in Ukraine. Indeed, the world’s largest producer of rough diamonds happens to be Russian. As a result, Alrosa came under US Treasury sanctions at the beginning of April, a step taken shortly before by Britain and the European Union.
Following these decisions, Chopard announced on April 3 that it would “cease the purchase of newly mined diamonds from Russian-sanctioned entities with immediate effect“, while continuing to “monitor the situation in Russia to ensure that its principles are never compromised, either now or in the future“. Other major industry players such as Tiffany & Co. and Signet Jewellers Ltd. have also stopped sourcing from Russia.
For the two organizers of the show, it is difficult to project and predict in the medium and long term, the consequences of the Russian-Ukrainian conflict. Thomas Faerber, within his company selling gems observes “more caution and a certain slowdown in activity.” Russia is the largest producer of rough diamonds by volume and as such accounts for 35% of global production.
Read also > GEMGENÈVE : THE JEWELLERY WORLD IS BACK IN ACTION
Featured photo : © GemGenève[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
After the November 2021 edition and two years of cancellation due to the global pandemic, the jewellery world is back in Geneva. This edition is however affected by the Ukraine-Russia conflict.
At Palexpo, in Switzerland, high jewelry is back in the limelight for a weekend. The GemGenève show, intended for professionals and collectors but also for the curious, was held last weekend.
For the show, no less than 200 exhibitors gathered for the occasion, sometimes coming from far away, like Susana Grau Batlle, jewelry designer. She came from Washington, excited “GemGenève is an international event, it brings together the best in jewelry. So for me it’s a privilege to be here, I’m very grateful. It’s a magnificent event, everything is very well presented.”
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After the November 2021 edition and two years of cancellation due to the global pandemic, the jewellery world is back in Geneva. This edition is however affected by the Ukraine-Russia conflict.
At Palexpo, in Switzerland, high jewelry is back in the limelight for a weekend. The GemGenève show, intended for professionals and collectors but also for the curious, was held last weekend.
For the show, no less than 200 exhibitors gathered for the occasion, sometimes coming from far away, like Susana Grau Batlle, jewelry designer. She came from Washington, excited “GemGenève is an international event, it brings together the best in jewelry. So for me it’s a privilege to be here, I’m very grateful. It’s a magnificent event, everything is very well presented.”
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