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The 18th edition of the highly acclaimed SIJE – Singapore International Jewelry Expo concluded on a positive note, solidifying Singapore’s strategic role in the ASEAN jewelry market.
Held from 13 to 16 July at the Marina Bay Sands Expo and Convention Centre in Singapore, this edition marked the first collaboration between IEG Asia and event founders CEMS – Conference & Exhibition Management Services.
The opening of the event was graced by esteemed personalities and institutions, including Indranee Rajah, Minister, Prime Minister’s Office, Second Minister for Finance and Second Minister for National Development, and Suryo Pratomo, Ambassador, Embassy of the Republic of Indonesia in Singapore. The support of the Singapore Tourism Board further reinforced the expo’s prominence.
THE LARGEST SHOWCASE IN SINGAPORE YET
Spanning an impressive 8,000 square meters, the 2023 edition of SIJE boasted participation from over 280 prominent jewelry brands, manufacturers, and exporters, making it the largest showcase of its kind in Singapore to date. With a B2B/B2C format, the expo catered to both buyers and consumers, primarily from Singapore and Indonesia, the partner country, as well as other regions in South Asia. The exhibition showcased a wide range of high-end jewelry from 28 countries, including Singapore (with over 60 companies), Hong Kong, Thailand, Japan, Indonesia, Malaysia, Sri Lanka, and several others. Italy, represented by nine exhibitors, including Zydo for the 15th consecutive time, made a noteworthy presence.
THE ASEAN MARKET’S POTENTIAL
Singapore, as the economic hub of the ASEAN region, with a catchment area of 600 million people, presents a significant opportunity for the growth of the gold, jewelry, and watchmaking industries. Forecasts indicate a compound annual growth rate (CAGR) of 4.64% for luxury goods in the ASEAN market between 2022 and 2027*. Factors contributing to this trend include the entry of new jewelry brands, increased watch sales, rapid urbanization, and rising disposable incomes.
ITALIAN JEWELRY EMBRACING ASIA
The export of Italian jewelry to the region highlights its potential for further development. According to data from Confindustria Federorafi, Italy’s exports to the area reached a value of 264.44 million euros in 2022, accounting for 2.7% of the sector’s total export value. This reflects a significant increase of 46.5% compared to 2021 and 89.4% compared to pre-COVID levels in 2019. Malaysia, Singapore, and Thailand emerged as the top three markets in the region, collectively holding the 9th position in the destination ranking. The positive trend continued in the first quarter of 2023, with exports amounting to 81 million euros, marking a 38.3% increase compared to the same period in the previous year.
A PILLAR FOR JEWELRY INSTITUTIONS AND ASSOCIATIONS
SIJE enjoys support from various institutions, including the Singapore Jewellers Association (SJA). Additionally, esteemed organizations like the British Association of Singapore, International Women’s Federation of Commerce and Industry Singapore, Singapore Khalsa Association, and Peranakan Sayang are among its Community Partners. Supporting Associations such as the Hong Kong Jade and Jewellery Association and the Singapore Chinese Chamber of Commerce and Industry were also present.
INTRODUCING THE SINGAPORE JEWELLERY DESIGN AWARD 2024
The upcoming 2024 edition of SIJE will feature several exciting additions, one of which is the relaunch of the prestigious Singapore Jewellery Design Award. In previous editions, the award attracted 93 participants from 16 countries. IEG Asia, in collaboration with CEMS, SJA, and JDMIS – Jewellery Design & Management International School, has announced the theme for the upcoming edition as “Sustainable Luxury.” Nominations in different categories, including “Fresh Facets” for students, “Jewellery Without Limits,” and the groundbreaking “Artificially Exquisite” focusing on the use of AI in jewelry, will open by the end of 2023.
STATEMENTS FROM INDUSTRY LEADERS
Ilaria Cicero, CEO of IEG Asia, expressed confidence in SIJE’s success, noting the event’s rich history and the collaboration between CEMS and IEG Asia’s experienced teams. Francesco Santa, CEO of IEG Middle East, Dubai & International Business Development Director at IEG Group, highlighted the strategic expansion strategy of IEG and the opportunities it offers to exhibitors and prospects in various continents. Marco Carniello, Global Exhibition Director Jewellery & Fashion at IEG, emphasized SIJE’s growing significance as a gateway to the Asian markets for gold and jewelry companies. He also highlighted the potential for Italian companies and international exhibitors to participate in IEG’s shows worldwide, ranging from Europe (Vicenzaoro and Oroarezzo) to the Middle East (JGT in Dubai) and now Asia with SIJE in Singapore.
The next edition of SIJE is scheduled to be held from 11 to 14 July 2024, promising another remarkable showcase of luxury jewelry and providing an unparalleled platform for industry professionals and enthusiasts alike.
