OurBuzz
BIJS 2023 opens with a grand inauguration in Kolkata
Bengal International Jewellery Show 2023 was inaugurated by Joy Alukkas, CMD, Joyalukkas Group alongwith Ali Saleh Baterfi Al Kindi, Vice Chairman, Federation of Council of Saudi Chamber, Jeddah, Saudi Arabia today, 8 December 2023, at Milan Mela Exhibition Complex , Kolkata.
The grand opening saw the presence of stalwarts and dignitaries including Mr. Samar Kumar De, President, SSBC; Mr. Arun Kumar Varma, President, BGJA; Mr. Tagar Chandra Poddar, General Secretary, Bangiya Swarna Shilpi Samiti; Ms.Kranti Nagvekar, Founder and MD, KNC Services; Mr. Suvankar Sen, Chairman and MD, Senco Gold; Saiyam Mehra, Chairman, GJC; Mr. Suber Sen, Chairman, B.C. Sen Jewellers, Mr. Pankaj Pariekh, Regional Chairman, GJEPC amongst others.
The 4th edition of the BIJS organised and promoted by KNC Services, will run from 8th to 10th December, 2023.
BIJS features 250+ exhibitors.50+ retail chains and 200+ overseas buyers are visiting the show.10000+ domestic visitors are expected to attend the show.
DiamondBuzz
Natural Diamonds, LGDs set for dual growth surge: Signet CEO
High gold prices spurred alternative metals exploration, timepieces boomed among youth, and holiday sales thrived on affordable gifts
Signet Jewelers, the world’s largest diamond jewellery retailer, sees bright horizons for both natural and lab-grown diamonds as markets stabilize, CEO J.K. Symancyk declared at Citi’s 2026 Global Consumer & Retail Conference.
“Stable is the best word,” J.K. Symancyk noted. “Both are in our mix—often in the same customer’s jewellery box—and we want them both to grow.” Natural diamonds show strength in high-end segments, with opportunities in average unit retail and premium assortments driven by consumer demand. Lab-grown prices have bottomed out, stabilizing costs and margins, while under-penetrated lab fashion jewellery acts as a “category extender,” not a natural replacement.
Signet Jewelers does not anticipate significant cash inflows from potential government tariff refunds, as it serves as importer of record for only a small portion of its purchases. Refunds are a little less of a focus in the near term.Elevated tariffs, especially the 50% rate on India, prompted sourcing changes. The company responded by renegotiating supplier agreements to clarify risk-sharing and adaptability amid evolving trade conditions.
Symancyk highlighted brand positives: Zales, Kay, Jared, Peoples, Blue Nile, and UK operations posted comps gains, though James Allen lagged. High gold prices spurred alternative metals exploration, timepieces boomed among youth, and holiday sales thrived on affordable gifts.
Signet paused brand differentiation amid tariffs and macro headwinds but plans sharper identities ahead. Preliminary Q4 results: sales $2.34-2.35B, comps down 0.7-0.9%, with $500M+ free cash flow.
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