Beirut Jewelry Week targets rich buyers

BEIRUT: Lebanon’s jewelry market is not flourishing as it once was, according to Sandra Ghattas, the project manager of this week’s jewelry exhibition in Beirut. However, the industry remains one of Lebanon’s chief exporters.

“The jewelry market in Lebanon makes up [around] 60 percent of Lebanon’s total exports,” said Ghattas. “And even though the jewelry market was better before, we still expect it to remain one of the biggest Lebanese exports,” Ghattas told The Daily Star in an interview on the eve of this year’s “13th International Jewelry and Watches Exhibition” which will be held at the Beirut International Exhibition and Liesure center on Tuesday.

The event promises the visitor will “Discover the latest Gem trends and unique artistic jewelry collections … at the most glamorous event in the region,” from the July 20-23.

“We expect a large number of tourists at this event,” said Ghattas. “Around 8,000-12,000 are expected with half this number coming from the Gulf. It is a big draw for tourists, which is why the tourism minister will be attending the event tomorrow.”

According to a report issued by the Tourism Ministry on Monday, the number of tourists reached 964,067 in the first six months of 2010 compared to only 761,415 during the same period of 2009. The same report added that the number of tourists last month reached 81,097 compared to only 59,052 during June 2009.

Tourism Minister Fadi Aboud is expected to inaugurate the event, along with this year’s newly elected Miss Lebanon, Rahaf Abdullah.

“This is a business to business (B2B) event and a public show at the same time,” said Albert Aoun, CEO for IFP – the company organizing Beirut Jewelry Week. “Our main clients will be high-income Lebanese VIPs from the diaspora and Lebanon and also summer tourists.”

“As it is a luxury goods event, the numbers will not be large,” said Aoun. “Rather, [the emphasis] will be ‘Who’s who’ as opposed to the number of people present.”

“We attract VIPs every year – mostly females, but we also attract traders and jewelry merchants from India, Thailand and Antwerp for example,” he said.

When asked what influence the event would have on the jewelry market, both Aoun and Ghattas felt that its effects would only remain positive.

“Of course it will have a positive effect, most exhibitors are Lebanese jewelry houses and during events such as these people tend to encourage each other through a euphoria of buying to purchase more items – that is a positive effect,” said Aoun.

Ghattas also felt that more could be done by the government to help the exhibition and the jewelry industry.

“We want the government to offer to all exhibitors to come to our exhibition without paying the current rates on customs,” said Ghattas. “Currently, they have to pay a 100 percent guarantee on the jewel’s worth … [This means] they have to pay the government a sum that is equivalent to the jewel’s total worth before it can enter the country.”

“Doing away with this rule would allow for foreign traders and designers to come and exhibit at our show and in Lebanon in general,” she said.

A number of high profile VIPs will attend the event, according to Ghattas, including Lebanese singers Elissa, Nawal al-Zughbi, and Nelly Makdissi.

Also attending will be former Minister Laila Saleh, a delegation from the Sultanate of Oman and renowned Lebanese fashion designer Zuhair Murad.

“Our event is aimed at high-class Lebanese women … and people of high social power,” said Ghattas. “We expect the number of end consumers to be 60-70 percent and the rest to be trade visitors.”

“We expect a success every year and we hope for 2010 to be as fruitful as last year,” she said.

source: The Daily Star